Launching my own bank with a bang.
100,000 customers in six months.
Role
Co-founder & Chief Creative Officer at Kroo Bank. Brand strategy and creative direction, design and execution support.
Context
Kroo Bank was a growing player in the digital banking space and we were preparing to launch our new current account in a highly competitive market. The challenge was not only to differentiate the product but also to attract customers in a space dominated by larger, established banks. After receiving our full UK banking licence in June 2021, we began laying the groundwork for our current account offering. The account was officially opened to customers in September 2022, initially adopting a “phased rollout” strategy to gather valuable insights on customer behaviour and preferences before scaling up our marketing efforts.
Description
On 5 December 2022, we launched our current account with a focus on digital channels. This phased rollout allowed us to fine-tune the product and marketing strategy based on real-time customer feedback. By late January 2023, after early successes and refinement, we transitioned to a full-scale 360-degree marketing campaign.
The campaign emphasised the account’s market leading interest rate and aimed to significantly increase brand awareness. We integrated online and offline marketing channels to deliver a seamless brand experience, combining digital advertising, social media, and offline channels such as out-of-home media. The goal was to engage Kroo’s target demographic with a unified message and create a memorable brand presence, while driving customer acquisition and growth.
Impact
Our marketing efforts had a remarkable impact. In just six months, the bank attracted over 100,000 new customers, with an average acquisition cost of only £40, demonstrating the efficiency of the campaign. Additionally, Kroo Bank secured the first position in the finance category of the Apple Store. Brand recall surveys conducted quarterly revealed that 15% of respondents recognised the Kroo brand, indicating strong engagement and awareness.
The campaign’s success was further highlighted by our recognition in the British Banking Awards, where it became a finalist in four different categories. The combination of a well-executed product launch and an effective marketing strategy helped Kroo solidify its position as a rising force in the digital banking industry.
