Our objective was to change negative perceptions of Czech Republic bank, Komercni banka (KB), amongst the younger generation who saw it as an old fashioned, rigid, financial institution, and increase awareness and consideration of the bank’s student portfolio amongst teenagers.
The financial sector is more competitive than ever, with the traditional banks not only competing with one another, but also with the increasing wave of new FinTech companies and virtual banks.
Meanwhile the younger generation of today are even harder to engage with, especially when it comes to the conversation of finances. At the age of 15 years old, banking is not at the top of the priority list and the responsibility and setting up their finances normally lies with the parents.
In the Czech Republic, the Komercni banka (KB) student account was becoming less and less desirable to the teenage audience and the bank was being outperformed by its main competitor Česká spořitelna - the number one bank for students.
Thus, we had to create something more than a digital campaign and really tap into the desires and interests of teenagers to attract their attention. We needed to change the negative perception of Komercni banka and to stand out from the crowd.
Music is one of the strongest affections of young people and the common language for us all. Komercni banka have always supported the local music scene through various events throughout the years and so we decided to elevate this existing relationship and take it to the next level.
Based on the vision not only to communicate but also to help to build a relationship with the younger generation, we created the KB Band Academy.
We gave young musicians a chance to win an opportunity of a lifetime by creating a unique nationwide and year-round musical competition that helped young talented bands move forward in their musical career. Whilst engaging a younger audience who followed the journey of the competition. We were able to distinguish ourselves from other competitors as the project was unique to the financial sector locally.
So, despite the complexity of the project, the strategy was straight forward. Through music and creating a ‘once in a life time opportunity’ we would build a positive sentiment around the brand and show our target audience that the brand knows “how to rock”! All while presenting the KB financial account and its usage in real time.
We got together with the local music TV channel and built the KB band Academy from the ground up. Creating an all year music competition searching for the most talented and undiscovered new teenage bands! The show started with a nationwide casting focusing on high schools, which was followed by several rounds to reveal the bands with the most potential.
The project had its own music show, named after the brand – KB Band academy, that was aired on a regular basis on the music channel. To bring credibility and professionality to the show, it was supported by the biggest music stars in Czech Republic who helped the young bands uncover and develop their talent.
During the competition the competitors had to fulfil several music focused tasks such as creating their own poster, make their first single and video, all the while using their KB account. They would have to manage their finances through their student accounts delivering the necessary visibility to the product while showing easy usage and importance of right finance management.
The project was communicated across social media, the biggest Czech music channel and supported by famous local singers and talent hunters creating the wanted awareness in our target audience. On top of that, we used influencer and YouTube star, Kovy, who shared the content on his channel, creating additional interest among the young people.
Stanice O, a.s.