Satsuma is an online, short-term lender launched by Provident Financial in 2013. The challenge for the launch was to develop a campaign that could put the Satsuma brand on the map in the non-standard credit market, while at the same time generating leads for the new business.
Satsuma is an online, short-term lender launched by Provident Financial in 2013.
The Challenge
The challenge for the launch was to develop a campaign that could put the Satsuma brand on the map in the non-standard credit market, while at the same time generating leads for the new business. This had to be done in a competitive market, characterised by heavy media spends, on a relatively low budget.
Our brief was to track the effectiveness of the launch campaign and provide guidance on its’ development so that it could be optimised over time.
Our Approach
We used qualitative and quantitative methods to interrogate the decision-making journey and understand the behavioural influences in the market. These behavioural measures were then incorporated into a continuous quantitative tracking study which included the more usual markers of brand fame, brand health and communications response. In this way, we were able to track brand AND behaviour over time. Key finding included:
Key Findings
- SALIENCE IS VITAL
At the trigger point of entry to the short term loans category, brand fame (to ensure mental availability) was one of the main influences on choice. Therefore, it was key that the campaign was memorable and quickly implanted the brand name into people’s minds. The singing Satsuma proved to be a salient device that helped the campaign punch above its weight of spend (i.e. Share of mind > share of voice).
- PRIORITISATION OF MESSAGING
By combining an understanding of the trigger points, decision making process and response to each execution, in terms of resonance, salience, likability, newness and action, the most effective messages could be identified and further developed for future executions.
- PLAYING TO THE ZEITGEIST
A great deal of negative news and PR led to this being a highly sensitive but talked about category i.e. high cost short term loans or ‘Payday loans’. By tracking the impact of the news on the category brands, it was possible to help hone the most motivating brand messages that helped differentiate Satsuma from the rest of the category.
- BEING TOPICAL AND USING SEASONALITY
Continuous tracking enabled us to see seasonal patterns. This along with an understanding of the behaviour triggers in the category helped the brand to be visible at the right times with the right messages.
- A MOTIVATING DIFFERENTIATING BRAND POSITIONING IDENTIFIED
As a challenger brand Satsuma needed to stand for something different yet still relevant versus competitors. Uncovering the drivers of choice as well as the relative strengths and weaknesses of competitors through analysis enabled the development of the key criteria that would give Satsuma a strong brand in this market.
The Outcome
The Satsuma launch was a notable success. The brand name was quickly established in a competitive market as an ‘antidote to payday loans’ and the campaign generated a solid flow of leads from the outset.
The business broke even in 2017, with customer numbers at 71,000 and receivables at £32m. Satsuma had successfully designed and communicated a fresh approach to short-term lending.
