The HISA (high interest savings account) deposit market is highly competitive as there is often strong pressure from the Big Five Banks and other financial institutions during the RRSP season. Vancity had to create new RRSP products that would enable them to be in the race with the others while differentiating from the crowd. With this, the Vancity HISA RRSP and Socially Responsible Investing portfolios were created.
Before the RRSP season, Vancity had briefed the Response team to create an integrated campaign for the local multicultural audience in hopes to increase awareness, consideration and drive acquisition for the new Vancity RRSP accounts and portfolios.
Through cultural insight analysis, the team proposed to take two approaches to the concept – one specifically for the Chinese segment, the other for the South Asian & Filipino segments.
For the Chinese segment, our concept rode on the idea of ’Li Chun” - a period of planning and growing, originating from the Chinese seasons, perfect for the RRSP period. While the South Asian and Filipino segments followed the idea of consumers being able to grow their retirement savings while helping out the environment (through the range of RRSP products).
All in-market creatives were coined under “Positive Impact RRSPs”, special RRSPs where you can make an impact on your own financial future as well as the environmental future.