New Zealand has a problem. We spend too much and save too little.

The Government, media and even international credit rating agencies are talking about it.We tapped into one of the biggest conversations in New Zealand. And provided a solution.What if we could save as impulsively as we spend?Imagine a red button, and every time you press it you save. Now imagine that button in your pocket. Westpac’s Impulse Saver iPhone App is the world’s first impulse saving product from a bank.The idea created an enormous media conversation, positioning Westpac as the bank that was actually doing something to help their customers make better use of their money."This new product encouraging New Zealanders to save will do more to improve our brand reputation than traditional paid-advertising." - Westpac CEO George Frazis.Westpac Impulse Saver. Helping New Zealanders save as impulsively as they spend.

First, we created an iPhone app which interfaced directly with WESTPAC online banking, and allowed customers to transfer a pre-determined amount from their transactional account to their savings account at the touch of a button. Close Up, NZ’s leading prime time current affairs show, were so impressed that they decided to film their show with $16.1M cash as their back-drop. This PR stunt spear-headed the campaign followed by; • The app being launched on the app store.• Consecutive page press ads in weekend newspapers.• A 200 strong adshel campaign across NZ.• Advertising in true ‘impulse purchasing’ areas – the doors of iconic NZ shopping malls, with digital eyelites within the malls.• Online banners, including home page takeovers.• In-branch activity to encourage conversation at branch.

Impulse Saver was launched late February 2011, and therefore measured brand, business or behavioral results are not yet available.However to date the Impulse Saver product has exceeded Westpac’s uptake target by 259%, with over a third of all Westpac Customers with iPhones downloading the app. In excess of $400,000 worth of free media coverage has been generated and continues to grow with coverage from all the major news channels (Primetime TV news and current affairs, leading national and local radio and newspapers).

"This new product encouraging New Zealanders to save will do more to improve our brand reputation than traditional paid-advertising." - George Frazis, CEO, Westpac New Zealand Limited.