TURNING A SPENDING APP INTO A SAVINGS APP

South Africans don’t save because it’s the last thing on their minds and the last thing they want to do. During National Savings month, Sanlam transformed the perception of saving from boring and unappealing to something desirable and top of mind, by providing a tool that made saving accessible, and as easy as spending.

Combatting the tech constraints of a mobile-first Africa, we innovated on an existing platform and turned the WeChat Wallet payment system into the WeChat Wallet saving system. Then, we made it into the most desirable and in-demand wearable in the country. This wearable deliberately incorporated a low-tech QR code to make it widely accessible to all South Africans.

SAVING NEVER LOOKED THIS GOOD

We partnered with Laduma Ngxokolo, African hottest fashion designer and multi-award winning fashion icon, internationally recognised for bold, contemporary knitwear prints combining South African tradition with modern sophistication. He handcrafted a “for him” and “for her” Mna Nam and thousands were manufactured for nationwide distribution, with how-to-save instructions using Mna Nam and WeChat. A high-end spot based in the visual vernacular of the fashion world fuelled intrigue and desire for his first-ever jewellery piece.

Launched at South Africa’s most prestigious horse-racing/fashion event - the Durban July - it became an instant must-have, worn by some of South Africa’s most influential celebrities. Distributed exclusively in Destiny, South Africa’s biggest fashion magazine, it could be ordered online by the public. Every time an owner wore the limited edition item, they were reminded to save and had the ability to do so via the WeChat Wallet mobile app.

SO MUCH MORE THAN FASHION

AWARENESS

Combined Digital Paid Impressions: 14,884,344

% of top tier media to successfully reach target market: 92% (editorial exposure across news, lifestyle & finance publications)

Total Impressions: 101,082,943 (PR and social media combined)

EARNED MEDIA

Brand mentions in earned media: 96%

Earned media impressions: 86,198,599

ENGAGEMENT

Social media engagement (incl. views): 1,000,017

Average time on site: 3 mins, 4 secs

Fastest Destiny Magazine edition sale

Video views: 783,027

Production run of 10 000 units were all claimed

RETURN ON INVESTMENT

Earned media ROI of 299%

Against the backdrop of a non-existent savings culture, Sanlam wants play a meaningful role in supporting South Africans on their savings journey. By providing practical tools needed to save, they work toward their brand vision to see sustained growth for our economy and a generation of financially savvy citizens. We flipped an industry usually associated with spending into a space for responsible saving.

The Mna Nam brought the opportunity to save into the day-to-day things we do - giving people an opportunity to allocate funds into a virtual savings wallet on their phones. This fashion accessory transformed the perception of saving from boring and unappealing, into something associated with the desirable world of fashion.

Our marketing communication, influencer partnerships and placements also supported this fashion-forward product which was easily accessible on any device that could read a QR code.

WHAT IF WE COULD SAVE AS EASILY AS WE SPEND?

South Africans are among the worst savers in the world. And every month, banks and financial institutions give us new and easier ways to spend. Over the last three years, Sanlam has used National Savings Month as a platform to educate the nation on the psychology of our money behaviour and the importance of living within your means.

In 2017, we wanted to shift from education to action by equipping people with a tool that enables all South Africans to save as freely as we normally spend.

What if we took one of the biggest of these new ways to spend, and made it do the exact opposite of that? Save.