How Santander built brand buzz and business during a financial crisis
Spain was in the midst of a financial crisis. For Santander Bank, it was essential to re-connect emotionally with their existing preferred retail customers. The goal was to deepen their engagement and migrate them to online banking. At the same time, Santander saw the crisis as an opportunity to acquire new customers as well. Our challenge was to create a program that would appeal to this highly diverse group of customers and prospects to drive higher transaction activity.
MRM turned Wednesday into Santander Super Wednesday, offering program members special discounts from leading brick-and-mortar Spanish brands in 6 key categories. To become a program member, customers had to register online.
Online activity was further rewarded — members who shopped from the Santander platform also got cash back on their purchases.
By owning a day of the week, Santander gave customers a good reason to re-connect online once a week to check out the week’s special offers.
- 258,000 registered users in the first 8 months (6,000 new RU per week) vs an objective of 1M RU in three years.
- Extremely high customer satisfaction with the new program (customer survey in December 2012, 5,000 interviews).
- Outstanding business results for partner brands.