Coast Capital cuts the cord

Everyone knows that finding a straightforward means of managing their nest egg is top-of-mind these days. Vancouver-based Coast Capital Savings actually acted on that insight with a new high-interest savings account without fees or restrictions.

Everyone knows that finding a straightforward means of managing their nest egg is top-of-mind these days. Vancouver-based Coast Capital Savings actually acted on that insight with a new high-interest savings account without fees or restrictions.

The launch campaign for the new product playfully yet clearly points out that the account offers no-strings-attached banking with ‘full access, any way you want, and no fees,’ says Lawrie Ferguson, senior VP marketing at Coast Capital. Print creative by Vancouver’s Rethink Communications features a banker dangling a bundle of cash attached to a string into a square, which consumers are instructed to ‘cut out’ from the page. ‘The creative approach from Rethink – and we’ve developed this together – is that while we take banking seriously, we don’t take ourselves seriously, so there’s an element of humour,’ says Ferguson.

Coast Capital’s push consists of print ads in B.C. dailies and weeklies and an online component using banner, leader board and skyscraper ads. Launched in early January, it targets 25- to 40-year-olds, with an early focus on the account’s benefits concerning TFSAs and RRSPs.

The campaign goes on hiatus at the end of February, resuming in April with a conventional savings account push geared to younger consumers. ‘In the spring we’ll narrow down the buy to a younger profile,’ says Ferguson. ‘We’re going to look to do more online targeted to that group.’