When Bank of America launched its Keep the Change savings program in September, it faced a challenge common to marketers in the financial sector: How to build a tangible experience around the intangible benefits of tucking away even small amounts in a savings account?
It needed an event that would explain the program’s details, allow for lots of interaction between well-trained brand ambassadors who could sign up customers, grab lots of media attention… oh, and could it be fun?
The bank’s answer began with the construction of a cushy 750-pound red couch in New York City’s Grand Central Station. For three hours on a Thursday afternoon in October, nearly 500 passersby were invited to climb onto the couch and dig for “spare change” among its cushions. (Actually, the “change” consisted of colored tokens that participants could trade for gift cards to Starbucks, the Apple Computer Store and even mass-transit Metro Cards for subway and bus rides.)
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