Why Eugene and Dan Levy Highlighted the Missing Value That Comes with First Bank Accounts
Think about your bank account for a second. Have you been using the same one since you first opened? Perhaps surprisingly, for you Canadian viewers, most of you will probably answer ‘yes’. And it’s easy to see why. You’re a young person, your parents tell you it’s time to open a bank account, they tell you who to open with, you trust it, and boom, all your money is pooling into the account, you can’t complain about how it’s working, and suddenly 20 years have passed and nothing has changed.
But, there’s always a catch. Sure, we want to trust the taste of our parents when they tell us where to open an account… but does that really mean we’re getting the best possible offer? According to EQ Bank, the answer is a resounding ‘no’. In a world of hidden fees and low interest rates, just because you started with one bank doesn’t mean you have to finish with them, and it’s never a bad idea to look at strong alternative options that do right by the people.
To demonstrate this point, the bank would call on the creative capabilities of agency The Hive, who, together, created a fun campaign starring father-son duo Eugene and Dan Levy (in their first advertising campaign shot together). Featuring three unique 15-second spots, a headlining 30-second spot, and a photoshoot, the work, which was shot in Los Angeles over the course of one day, centres around Eugene breaking into his son’s house. Specifically, he has realised the error of his ways in signing up Dan for his specific bank account way back in the day, and wants to rectify the situation by switching him to EQ.
So, to learn more about how this creative, collaborative and funny piece of work came to life, LBB’s Josh Neufeldt sits down with The Hive executive creative director Jung Ahn, and EQ Bank’s senior vice president and group head, personal banking, Mahima Poddar, for a chat.
LBB> Tell us how this campaign got started! What was the brief, and what immediate ideas came to mind?
Mahima> The banking category is notorious for consumer apathy; Canadians can be shockingly loyal to their first-ever bank account, even when they’re charged fees and not earning any interest. In fact, our research shows that the vast majority of young Canadians (18-34) still use their first-ever bank account.
With EQ Bank already on the radar, we wanted our next brand campaign to grab Canadians’ attention and encourage changing bank accounts in a fresh way. This campaign does an excellent job of showcasing a common tension point and shines a light on the money Canadians have been missing out on.
The Hive have been tremendous strategic and creative partners. They helped capture the essence of EQ Bank in our ‘Make Bank’ brand platform and both campaigns tied to this idea.
We were confident that it could find a way to achieve our ambition of breaking through by tying together a relevant consumer insight with attention-grabbing creative.
Jung> As we were discussing deeper into why it is so hard for Canadians to change banks, it occurred to me that I still had my first bank account. This nostalgic realisation extended to the team, revealing a shared sentiment – many of us either still maintained our inaugural bank accounts or had recently closed them after years of dormancy and incurred fees. This insight ignited the spark for a campaign that taps into the emotional connection Canadians have with their first bank accounts, fostering relatability and driving engagement.
LBB> Tell us more about how this extends the ‘Make Bank’ platform! What is it, and why was now the right time to expand and evolve it?
Mahima> For several years, EQ Bank relied heavily on lower-funnel tactics, but we knew that we needed to build and invest in the brand to achieve sustainable, long-term growth.
EQ Bank has always been committed to providing Canadians with better banking value, expressed through pioneering ideas like high interest and no fees on everyday banking. We knew that we needed a brand platform that captured an evergreen feeling to drive long-term brand affinity.
The Hive’s idea presents the world as a place geared to take and limit people’s financial power, positioning EQ Bank as a brand that stands apart to offer less take and more make. This idea perfectly struck the long-term chord we wanted. So, we launched the ‘Make Bank’ brand platform in the fall of 2022 with a 360 campaign that contributed to materially higher brand awareness and customer growth. It clearly resonated with people; we saw an opportunity to build on this momentum and reach even higher levels of awareness so we could continue to fill the funnel for sustained growth and, at a more fundamental level, help Canadians realise they deserve more.
LBB> And why was emphasising the unintended consequences of bank sign ups so important to the brand at this time?
Mahima> The consumer apathy tells us that Canadians aren’t aware of why staying with their first-ever bank account could limit their ‘make’. We wanted to put into perspective that it’s not just a monthly account fee – it’s the compound impact of paying thousands of dollars across all kinds of fees and earning minimal interest, if any, since most banks offer little-to-no interest on chequing accounts.
Building on this, our research indicates a clear awareness problem: the majority (80%) of Canadians are aware of the chequing account fees they pay, but that awareness plummets to half (52%) when the conversation pivots to interest. That’s where we wanted to insert EQ Bank’s value-add. Not only do we offer accounts with high interest and no fees on everyday banking, we’re also the brand that highlights a problem so you can be empowered to ask questions.
LBB> Specifically, getting the father-son duo of Eugene and Daniel Levy is massive! Was the campaign built with this casting in mind, or did you come up with a creative approach, and then happen upon the perfect actors for the job?
Jung> For me this was the campaign where the stars aligned. There was a lot of work that was put in place to make this work come to life. When the initial script was presented to clients, the concept seamlessly embraced the essence of the Levy’s, and we were fortunate to maintain that alignment throughout the campaign's evolution. I’m glad that not much has changed since, because it would have been a completely different campaign if we had to do it the other way around.
Luckily, the appeal of this project resonated with both of them, marking the first occasion where the father-son duo was approached together for a joint endeavour. Their shared enthusiasm for the concept, coupled with the uniqueness of this opportunity, ignited their interest early in the process.
Mahima> Our target audience – called ‘aspirants’ – is largely millennials aged 25-44. We knew this beloved duo resonated strongly with our brand personality and had immense appeal, so the potential for them to bring the campaign insight to life got our attention. We wanted our aspirant audience to easily imagine themselves in a similar conversation with their own parents – or perhaps remember a conversation they’ve already had. We wanted it to feel light, but real, and encourage people as seamlessly as possible to ask, ‘Could this be me?’. From a brand perspective, their wit and ability to ‘tell it like it is’ is very emblematic of EQ Bank’s challenger brand ethos.
LBB> Let’s talk about the script itself - it’s super funny. How did you approach balancing critical info with the satirical tone? And specifically, where did the idea of Eugene breaking and entering into his son’s house come from?
Jung> Like all work, it’s about the art of balance. In this case it was a bit more complicated, as there were three different parties working together. There was the client side, agency, and also, we were working with writers from both Dan and Eugene Levy. We were finessing the scripts down to the wire and we all had great respect for one another and pulled it through, ensuring that neither the humour nor the essential messaging took precedence over the other.
As for the break in, that idea came from a brainstorm session we had with Dan and Eugene. Their input was pivotal in ensuring that the creative reflected the authenticity of their father-son relationship. The decision to have Eugene playfully invade his son's space was just right for the creative because it not only resonated with the Levy’s' personal rapport, but also added a memorable and relatable touch that perfectly complemented the overall tone of the campaign.
LBB> The spots themselves were directed by Ally Pankiw. What made her the right choice for the job, and how was the collaboration?
Jung> Ally Pankiw was the perfect choice for directing the spot, and the decision was crystal clear the moment I saw her treatment. Her deep understanding of what we aimed to establish, coupled with her visionary approach, elevated the project to new heights. The collaboration was a seamless and inspiring experience, as Ally not only grasped the essence of the campaign, but also brought her unique perspective to the table.
Beyond that, what made her the right fit was not just her directorial prowess but also her commitment to diversity and inclusion. As a queer, female director, Ally actively supported these values and ensured a diverse crew on set. This alignment with our commitment to inclusivity resonated with me personally as a BIPOC female creative lead. It's essential to champion opportunities and voices from all backgrounds, and working with Ally allowed us to create a project that not only met our creative goals, but also fostered an inclusive and empowering production environment.
LBB> The exit gag of the high five turning into a key revoking feels so natural, but is hilarious all the same. How did this scene come to life? And what made it the right way to close out the ad?
Jung> Credit for this scene goes to the authentic chemistry between Dan and Eugene, which shone through in their performance. Although we initially had a different script for this scene, they brought their own spin to it during the shoot, making it more reflective of their dynamic and personalities.
The decision to close out the ad with this particular scene added to the spot’s authenticity and comedic impact. It not only captured the Levy’s' unique father-son rapport, but also added a memorable and humorous touch to the conclusion of the ad.
LBB> What challenges have you faced during this project? How did you overcome them?
Jung> Navigating the journey from the briefing to campaign launch posed its fair share of challenges. Like any creative process, ensuring that the core idea remained true and that the essential messages were not lost was a constant priority. However, the creative process is often accompanied by unforeseen obstacles that are beyond our control.
In overcoming these challenges, a key strategy was to foster trust within the team. While providing guidance in the right direction, it was essential not to hinder the creative process, but rather empower the teams to navigate the obstacles effectively.
Mahima> There was a lot of ground to cover in one spot. We needed to grab attention – which is inherently difficult in today’s world – without doing so simply for the sake of it. We also needed to consistently follow through with a hard-hitting message that would remain with people days after they saw the spot and, hopefully, encourage a change. Amid all things, it was essential for us to remain authentic to our talent. We collaborated very closely with The Hive and talent to ensure that our outputs always remained laser focused on the core insight.
LBB> How have people reacted to this campaign?
Jung> Feedback has poured in from various quarters, ranging from industry professionals to friends and family, all expressing their enjoyment of the campaign. One particularly amusing note came from my niece, who was curious about the type of muffin Eugene was eating – a testament to the campaign's attention to detail sparking genuine interest.
Beyond personal connections, it's gratifying to learn that even other finance brands have been discussing the campaign. This kind of recognition within the industry is a positive indicator of the campaign's impact and success. And, it's always heartening to see a creative project resonate with a diverse audience and leave a lasting impression in both personal and professional spheres.
Mahima> The reaction has been overwhelmingly positive. We’re seeing people watch the spots longer (and on repeat!), meaningfully engage with them, and share them organically with family and friends.
LBB> How does this campaign fit into EQ Bank’s plans for 2024?
Mahima> This campaign is the catalyst for driving brand awareness and growth for the EQ Bank brand in 2024. Throughout the year, this campaign will be supported by a robust media strategy that includes TV, out-of-home, social, community activations and more, so we’re excited to see our brand show up consistently and encourage Canadians coast-to-coast to realise they deserve better.
On the product side, we’re keen to challenge Canadians to expect more of their chequing accounts and hope to help them realise that they can get the features of chequing while actually earning interest and not paying fees. We firmly believe that it's never too late to ask questions and challenge the status quo, even when that means re-examining long-held beliefs. We’re excited about where this idea will take us.
LBB> Finally, are there any aspects of the work you’re particularly proud of?
Jung> I take immense pride in the seamless collaboration that unfolded throughout this project. Internally, the synergy between accounts, strategy, creative, and production teams was nothing short of perfect. Externally, the alignment with the clients and the Levy’s added an extra layer of success to the campaign. It was a project that presented diverse challenges, yet the entire team rallied together to overcome them, passionately defending the integrity of the work. The collective effort and commitment from all parties involved, coupled with the genuine collaboration with the Levy’s, makes this campaign a standout from all the other campaigns. It's one of those rare moments when a talented and dedicated team comes together to bring a creative vision to life.
