PLANNING (objectives & creative approach):

Gen Z has the fastest growing credit card debt of any generation. The last thing they needed was another credit card.

As Gen Z begins to enter adulthood and make their own money, they’re faced with inflating prices and an unstable economy. Combined with entry-level salaries and gig economy paycheques, Gen Z are racking up more credit card debt than any other previous generation.

The BMO eclipse rise Visa Card is designed to reward users for using credit well: paying off their balance and paying their bills on time, reinforcing good financial habits. As a brand new product, we were looking to connect with our Gen Z target, engage their interest, and ultimately drive a 50% increase in sign-ups for the card. But we needed to launch it in a way that would not only pique the interest of our Gen Z target, but also get good financial habits to stick.

Gen Z goes to TikTok for financial advice, but it’s the music that sticks with them.

While young Canadians want to learn more about finance, they avoid engaging with banks, preferring to get financial advice from almost anyone, almost anywhere, rather than go to a bank. In fact, 76% of Gen Z look to TikTok to learn about finance, so we wanted to activate there, where they are, and on their terms.

But simply launching on TikTok wasn’t enough. Our ambition was to help our target establish better financial habits. We wanted to get those good habits stuck in their heads. Research among TikTok users shows that if a brand uses a song that they like in the video, 68% of listeners remember the brand better, 58% feel a stronger connection to the brand, and 62% are more curious to learn more about the brand. (source)

EXECUTION (creative excellence and implementation):

We dropped the first TikTok track that acts as a reminder to pay your bills.

We partnered with viral TikTok sensation, bbno$, as our Gen Z ambassador to encourage good financial habits. Based on his 3.4M followers and viral earworm fame with singles La La La and Edamame, we knew bbno$ was perfect for the job, right down to his name. We recorded a new, custom TikTok track, Bills Paid On Time (BPOT) with lyrics that touched on the experience of starting to make money and emphasized that paying bills on time is the key thing that will help you make real financial progress.

BMO gave creative control to bbno$, a TikTok rapper.

In order to appeal to a younger demographic, BMO knew they needed to engage with them in a new, fresh way. However, financial institutions are naturally cautious and conservative which is compounded in Canada with a highly regulated industry. Our approach required a nuanced understanding of the regulatory constraints and the cultural dynamics of Gen Z’s interests.

Our efforts also needed to be authentic. In an innovative twist, we gave bbno$ creative control of the viral track and accompanying video content. bbno$ began with the song lyrics, which he shared with the agency to benefit from their relationship with BMO and deep understanding of how to push creative boundaries. When it came to the video production, we let bbno$ do his thing and the results speak for themselves.

The song and video were teased out days before the drop to get the TikTok algorithm working in our favour. The official drop came on a key bill paying date, January 30th. We gave bbno$ creative control in order to maintain authenticity with our audience. With minimal branding, our audience was engaged with our content as content, instead of as an ad.

The use of music was a deliberate creative choice in order to get new bill paying habits stuck in the heads of Gen Z - just like their favourite TikTok track would.

Our ambition was to help our target establish better financial habits. We wanted to get those good habits stuck in their heads. Research among TikTok users shows  that, if a brand uses a song that they like in the video, 68% of listeners remember the brand better, 58% feel a stronger connection to the brand, and 62% are more curious to learn more about the brand. (source)

Post-launch, we partnered with Community, the leading messaging and engagement platform, to send customized messages penned by bbno$ himself  to remind young Canadians to pay their bills, in-full and on-time.

Finally, BMO sponsored bbno$’s charity music festival, bb’s bonanza, distributing sing-along lyrics printed onto beach balls, so that when bbno$ performs BPOT, people could engage and be reminded to pay their bills on time.

RESULTS (outcomes and effectiveness):

Our campaign connected with our audience and exceeded benchmarks:

Our CTR on the music video was more than triple the benchmark

Our overall TikTok engagement rate was more than 9x benchmark
Our overall Meta engagement rates was more than 14x  benchmark

Turned into one of the top songs of the year:

Upon launch, our video got 14M views in the first 24 hours

Which later grew to a major hit at 30M views with 98% positive sentiment, becoming the most liked Financial Services ad on TikTok

And most importantly, drove credit card sign-ups:
And ultimately, drove a +129% BMO eclipse Rise sign-ups within the first month of launch