en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en es es ru en en en en en en en en en en en en en en en en en en en en en en en
Pereira Odell’s new ad promotes saving as a way of highlighting Fifth Third’s new savings products | Photo source Pereira Odell
Bank posts ‘blocked’ ads to save users from temptation
A bank is highlighting the dangers of impulse buying by posting blocked ads that steer users to a free savings app
Headline: Cincinnati’s Fifth Third Bank came up with a novel way to encourage people to save money instead of splurging on things they don’t need. As part of a recent ad campaign, the financial institution bought up a range of ad placements that retailers typically use to entice shoppers to make impulse purchases on social media.
Social media users then found that, instead of seeing ads for products like clothing and accessories in their news feeds, they saw targeted ads from Fifth Third that read, for example, “This could have been a juice cleanse ad” or “This could have been a watch ad.” Clicking on the ads sends users to a site offering a free savings app named Dobot to help manage their spending.
Fifth Third’s “BuyNow Blocker” is not technically ad-blocking software. Rather, it’s a targeted media buy that aims to displace retailer and brand ad placements.  The ad campaign was created by San Francisco ad agency Pereira O’Dell, in order to promote Fifth Third Bank’s free automatic savings plan. By running the campaign on social media, Fifth Third also hopes to reach younger customers.
Pereira O’Dell’s website describes the thinking behind the ad campaign: “Saving money is tough. Saving money during a pandemic with nothing to do but scroll social media while tempting ads track you is even tougher. Fifth Third wanted to cut people a break, so we served them blocked ads instead of ads for typical impulse purchases. When users clicked our links, they got a free savings app.”
There are a growing number of financial products available that challenge the hold of traditional brick-and-mortar banks. Whether focusing on Black and Latinx communities or allowing card-free cash withdrawals, a host of new financial services are working to increase the number of people globally who are banked—an important step in widening financial accessibility and opportunity.
Written By: Lisa Magloff
Explore more: Advertising & Marketing Innovations | Financial Services Innovations
Recent surveys have found that, although the US economy has taken a big hit from the pandemic and the job situation is still uncertain, people are spending more online than ever. This may be because most have been stuck at home and bored during the lockdowns, and are succumbing to impulse buying and instantaneous satisfaction. Fifth Third’s ad campaign takes a humorous approach to this, by encouraging people to save with a fun, quirky message. The approach also hopes to challenge the assumption from many young people that legacy banks like Fifth Third are old fashioned and dull, as well as tackling the more serious issue of debt amongst young people.
New metro advertisement can analyse commuter reactions
Free online financial management service helps customers save
Predictive intelligence startup reduces financial risk on the high seas
Our expertise in spotting the latest innovations is the best resource to empower your team’s future planning.