Company: Payright, Melbourne, Australia
Company Description: Payright is an Australian payment plan provider that enables merchants to accelerate return-on-effort by offering a buy now, pay later flexible payment option to their customers, making higher price point products and services – transactions $1,000 - $20,000 – more affordable by spreading the cost of purchases over time, without ever paying interest.
Nomination Category: Marketing Campaign Categories - Specialty
Nomination Sub Category: Small-Budget Marketing Campaign of the Year (<$3 million / €3 million)>
 Nomination Title: Payright's first national brand awareness campaign
- Which will you submit for this nomination, a video of up to five (5) minutes in length about the nominated campaign or program, OR written answers to the questions for this category? CHOOSE ONE:
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers to the questions for this category, you must answer this first question: Specify the date on which this campaign or program was launched, and the budget expended on it:
Launch date: 17 Feb 2021
Total spend: $1,000,000 (AUD) – Includes agency spend and media buy
- If you are providing written answers to the questions for this category, you must answer this second question: Describe the genesis of the nominated campaign or program: the reasons it was initiated, the challenges it was created to address, the problems it was developed to solve, etc. (up to 250 words):
Total 242 words used.
As a relatively new, challenger brand playing in the Buy Now Pay Later (BNPL) market in Australia, Payright had the opportunity post our December 2020 IPO to embark on our first national brand awareness campaign. Previously a B2B2C-only offering, Payright’s brand awareness in local markets was sub 1% in a pre-campaign survey. This campaign was created with the objective of lifting consumer brand awareness prior launching our first direct-to-consumer features later in 2021.
Equally, the campaign sought to establish Payright’s point of difference in a saturated BNPL market. While many consumers in Australia associate BNPL products with smaller, impulse-driven purchases in the pay-in-4 model, Payright’s offering is unique; our product offers payment solutions for bigger, more considered purchases up to $20,000, with the option for much longer repayment terms, and in sectors previously underserviced by other providers (like beauty treatments, trade services and automotive).
The creative brief had to overcome each of these challenges: A very low base of brand recognition and awareness; a unique product offering; and a merchant mix that differs from what consumers typically associate with 0% interest payment solutions like buy now pay later.
A small and nimble marketing team of only three at the time, we have always leveraged agency relationships to punch above our weight for marketing and advertising outcomes. With established relationships with digital and above the line media agencies, we appointed award-winning Sydney-based creative agency The Hallway to bring this campaign to life.
- If you are providing written answers to the questions for this category, you must answer this third question: Describe the development of the campaign or program: the planning process, the goal setting, the creative and media development, the scheduling, etc. (up to 250 words):
Total 249 words used.
With our creative agency based interstate, and travel limited by lockdown protocols in late 2020, initial concept meetings were held over video conferencing calls, with significant investment spent establishing Payright’s relative placement in the BNPL market, the messaging and tone that would appeal to our target consumer demographic, and the media strategy to meet our goals; reach over 5 million Aussies, and lift brand awareness by 5%.
In concepting, the clear campaign tagline winner was “If you’re gonna do it, do it right.” Very Australian, approachable and on-brand with our fair and fun approach to finance. As the concept evolved, it became clear that customers using our product were not focused on finance, but on the lifestyle that financing enables; for example, going on a getaway with your new car tyres. These outcomes are boldly represented throughout the campaign by large, single objects like a wheel or paintbrush, that are eye-catching and help to convey Payright’s point of difference.
To make the most of our tight media buy, our goal was to optimise every element in order to maximise impact, splitting the spend evenly across OOH and digital. For OOH we overlayed our merchant store locations with the highest-impact sites to ensure customers seeing our brand would be able to access merchants nearby. For digital, we leveraged the digital TV networks using BVOD placements during peak viewing times for our target demographic (for example, our home renovation and automotive ads aired during the launch of the football season).
- If you are providing written answers to the questions for this category, you must answer this fourth question: Outline the activities and concrete results of this campaign or program since the beginning of 2020. Even if your initiative started before 2020, limit your response to activities and results since the beginning of 2020 only (up to 250 words):
Total 249 words used.
For OOH advertising, we had a phased approach over the 3 months of the campaign, using a mix of highimpact static sights as well as key digital billboards to leverage the moving elements of our campaign. Leveraging our strong relationships with our media partners, we secured a series of bonus sites weekly throughout the campaign, as well as a significantly discounted rate for our crowning jewel of the campaign, an iconic Melbourne tram. With an initial investment of $400,000, were able to gain an additional $870,000 ($1.27M total) in OOH media value. With this increased value, we reached 5.5Million consumers an average of 9.4 times, a staggering 73% of our total target demographic.
For digital, our aim was to capture and keep the attention of the most highly qualified customers. Using a mix of multi-device programmatic, BVOD, YouTube and contextual advertising with key publications, we were able to upweight spend across the channels/creative performing best as the campaign progressed. We saw an impressive 18.9M impressions, with ad recall uplift of 2.5% via a Facebook Brand Uplift Survey.
With a base of sub 1% in brand awareness prior to the campaign, a post-campaign survey was sent to a subsequent 1,000 Australian consumers. The detailed analysis showed a massive 6X increase in spontaneous brand awareness, and a 50% increase in prompted awareness.. While there is still work to be done to increase this number further, we are incredibly proud of the campaign results.
- You have the option to reference here any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 24 words used.
Examples of assets, as well as the post campaign analysis by an extenal research agency can be accessed here: https://drive.google.com/drive/folders/1YH10gu-gcu-fxkpucIk5EXkrt37Ycz8Q?usp=sharing
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