Commonwealth Bank pushes the right button with Australia's first interactive television advertisement
18 April 2005
Around two million digital television viewers can now access home loan information and lenders from the comfort of their lounge room, as the Commonwealth Bank launches Australia’s first interactive television advertisement on FOXTEL Digital.
The Commonwealth Bank’s 30-second interactive Economiser Home Loan advertisement takes viewer interactivity to a new level by inviting viewers to respond to one of three options surrounding a home loan offer.
The Commonwealth Bank’s Retail Banking Services Executive General Manager, Strategic Marketing, Susan Nixon, says the Bank’s move into interactive television demonstrates its commitment to finding new ways of targeting consumers who are typically harder to reach using traditional media.
"The Commonwealth Bank is focussed on using innovative channels that connect with consumers more directly. Interactive television is a highly measurable medium that makes the Bank’s products and services more accessible to customers."
Ms Nixon says the new advertisement is part of the Bank’s drive to increase the level of convenience to customers by providing them with more options. For instance, the interactive advertisement gives customers the option to make an appointment with a Mobile Banker, the ability to request further information on the Economiser offer and the option of contacting the Commonwealth Bank if they choose. All this by simply following the on-screen prompts using a television remote control.
The interactive advertising opportunity was introduced to the Commonwealth Bank by its media buying agency, Ikon Communications, who negotiated the hotly sought-after top spot, putting the Bank at the forefront of FOXTEL’s launch phase.
The Commonwealth Bank interactive advertisement was created by 360 with software development by Open TV.
FOXTEL’s sales arm, the Multi Channel Network (MCn), is managing the rollout of the digital interactive campaigns in Australia. MCn CEO, Anthony Fitzgerald says the expanding interactive and digital market is something that advertisers now need to factor into their marketing plans.
"We congratulate the Commonwealth Bank for its market leadership and its agility in taking advantage of this new advertising opportunity," said Mr Fitzgerald. "Overseas results show that interactive television advertisements have higher recall, deeper impact and greater cut through than standard commercials. Interactive campaigns have been particularly successful in the financial services area, and we’re confident the Commonweatlh Bank ‘s customer-focused campaign will deliver extremely valuable results."
MCn plans to release around 12 digital interactive ad campaigns in 2005.
The Commonwealth Bank advertisement, a first interactive advertisement in Australia, will launch on FOXTEL Digital on April 24. The following digital channels that will feature the advertisement include FOX8, TV1, Comedy Channel, Lifestyle, UKTV and Arena.