Short List
Product / ServiceHOME LOAN
CategoryA01. Creative Effectiveness
Idea Creation COLENSO BBDO Auckland, NEW ZEALAND


Name Company Position
Nick Worthington Colenso BBDO Creative Chairman
Tim Freeman Colenso BBDO Production Director
Mike Davison Colenso BBDO Head of Art
Sarah Williams Colenso BBDO Group Business Director
Scott Chapman Colenso BBDO Senior Producer
Wayne Pick Colenso BBDO Executive Creative Director
Kim Pick Colenso BBDO Creative Director
Kristal Knight Colenso BBDO Senior Art Director
Darryl Wong Colenso BBDO Senior Copywriter
Jillian Stanton Colenso BBDO Group Account Director
Paul Courtney Colenso BBDO Chief Operating Officer
Sheriden Derby Colenso BBDO Producer
Natasha Gill Colenso BBDO Senior Producer
Angela Legge Colenso BBDO Senior CRM Planner
David McCallen Colenso BBDO Planning Director
Louise Wright Porter Novelli PR Executive Director
Craig Herbison Bank of New Zealand Director, Retail Banking & Marketing
Rob Orr Bank of New Zealand Campaign Manager, Retail and Marketing
Marcia Masters Bank of New Zealand Communications Manager
n/a FINCH Company Production Company

Brief Explanation

Many countries around the world have experienced a huge growth in property prices, but perhaps none have felt it more acutely than in New Zealand in 2014. National house prices had risen by 15% in the two years preceding our work but in Auckland, NZ’s major city where over a quarter of the population live, this figure was at 25% growth. As a result the median house price was at 5.5 times the average income and the general affordability of property for most was declining. Despite this New Zealanders remained determined to get on and up the housing ladder and turned to the banks to see how they would help. The banks, determined to get their share of Home Loan market growth were looking to increasingly aggressive tactics to capture market prospects. This included offering up to seven times the average salary in borrowing, huge sign-up incentives and increasing the term length for borrowing to, the now standard, 30 years. Effectively their response was to saddle borrowers with greater levels of debt and for longer periods of their lives. The Bank of New Zealand was faced with two core problems. Firstly it didn’t have the money or resources to match the aggressive spend of its competitors – so we needed to find a way to flank the market and create a new conversation around home loans, Secondly our brand mission is to help people “Be Good With Money” - offering home loan solutions that came laden with a lifetime of debt, whilst profitable, flew in the face of what we believed in. So rather than follow category conventions and increase the indebtedness of the nation we chose to highlight the wastage caused by interest repayments. We collaborated with the Reserve Bank of New Zealand to access millions of dollars in real, shredded cash and put it in front of the nation to highlight the issue. We effectively positioned ourselves to sell more Home Loans by encouraging people to get rid of theirs. In doing so we delivered record applications for the bank, helped turn around a billion dollar shortfall and triggered BNZ’s biggest year of lending.