Building on the success of the Asda Money credit card, Asda asked Creode to help them launch a Personal Loan proposition with their product partner Freedom Finance, who as a broker were well placed to find a loan product to suit each customer's individual circumstances and credit rating.
The challenge was to communicate an overarching proposition to Asda shoppers looking for a loan for lots of different reasons. As there is an obvious link to one of the UK’s biggest supermarkets, the creative needed to be disruptive and ride on the back of the Asda retail branding.
Using Financial Mosaic data profiling and analysis, we identified two different core target audiences - ambitious borrowers, who were planning to spend and make big plans happen, and struggling borrowers who we knew were going to use the loan for unplanned expenditure or debt consolidation.
We targeted these two groups with a segmented paid media strategy when we knew they would be in market with relevant messages.
This was a very competitive market with lots of financial services brands offering a loan product. Our creative execution needed to be simple to understand, and disruptive to get the prospect's attention, while also being instantly recognisable as Asda.
We knew from research that trust levels in the Asda brand were really high. So creatively, it was imperative to ensure our strategy played heavily on that trust, with visuals and messaging that made direct links to to the Asda retail brand.
The campaign employed paid media and Google Network display formats, radio advertising, as well as video on paid social and Youtube as 30” DRTV ads and 6” bumpers.
Increased conversion of enquires on the website to applications by 25%
Delivered a blended CPA which was 15% below target.
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