In mid 2013, POSB Bank, the 137-year old Singaporean institution was experiencing a challenging situation – there was a consistent drop in their brand engagement scores over several quarters. This was not acceptable for this most penetrated people’s bank. The perception of POSB skews toward being a bank for the older generation, isolating the brand from a younger audience. There was a need to refresh their positioning and connect with the youth.
The NeighboursFirst.SG campaign gave this iconic brand a new voice and image via sharing the narratives of the neighbourhood in the digital space. Through content and social engagement, POSB was able to retain its heritage and yet connect with Millennials. More importantly, NeighboursFrst.SG helped spark a new sense of neighbourliness around the neighbourhood.
NeighboursFirst.SG exceeded targets in paid, owned, and earned media via this digital strategy.
• Paid Media outperformed industry benchmarks by 92% on Facebook, 25% on Youtube, 44% on Yahoo, and 70% on Outbrain.
• Owned media: The website traffic exceeded target by 123%
• Earned Media: Social interactions increased by 123%. Engagement on Facebook was exceeded by 225%. Facebook fans increased by 41.69% - exceeding target by 266%.
• PR generated SGD 460,000 of earned media and counting – 235% more than the media budget.