Why Rethink and Herschel Built a Bank to Help Creatives
Sometimes, creativity and finance run in opposition to each other. Equipment is expensive, gigs can be sporadic, and often, it’s hard for even the most established artists and creators to receive funding from traditional banks due to a lack of guaranteed ROI behind creative work.
But if that sounds hard, consider the roadblocks up-and-coming creative entrepreneurs have to face. With less equipment, fewer connections and fresh resumés, Herschel Supply Co. describes young creatives ‘making it’ as “nearly impossible.” However, it shouldn’t have to be this way. And it’s for this reason that Herschel, alongside Rethink, launched their very own ‘Bank of Creativity’.
Riffing on the idea that banking advisors doll out generic financial advice, Herschel partnered with established creatives Olivia Rose (interdisciplinary artist and founder of Original Rose, a plant design studio), Danny Cole (interdisciplinary artist and founder of Creature World) and Sophia Wilson (photographer) to help provide tailored guidance for promising young up-and-comers. The result was a two day execution, done out of the former Brooklyn Bank in Brooklyn, New York. Inviting 18 promising creatives to the event, Herschel and Rethink connected them with personalised mentorship, and perhaps more importantly, free tools of the trade - ranging from new camera equipment to art materials - allowing them to spend less time working second and third jobs, and more time pursuing their creative dreams.
Supplemented by a long-form OLV and short-form cutdowns which run from August 16 to September 28, this campaign serves as a physical embodiment and continuation of Herschel’s 2021 platform, ‘Put Yourself Out There’. Intended to drive brand awareness in the US, the Bank of Creativity serves to help develop the emotional connection between Herschel and its target audience of young, professional creatives - inviting them to put themselves out there.
LBB’s Josh Neufeldt sat down with the teams from Rethink and Herschel to find out more.
LBB> Herschel’s Bank of Creativity is part of the ‘Put Yourself Out There’ campaign, which was released in fall 2021’. As such, what was the brief like for this continuation? And what immediate ideas came to mind?
Rethink> The brief was to champion creativity and to encourage creators to put themselves out there in a genuine way. We had a variety of different ideas ranging from helping creatives sell their products to hijacking established art galleries with upcoming artists. But ultimately, we realised the stumbling block for most emerging creatives was a lack of resources to make stuff happen.
LBB> This campaign centres around the idea that creativity and finance are often at odds, with it being difficult for even established artists and creators to receive funding from traditional banks. As such, what was the research process like? What did you find, and what were the key takeaways?
Herschel> The research process started by interviewing creatives in Vancouver, Toronto and New York to identify barriers that prevent them from reaching the next stage in their careers (as a creative). The common thread was that most creatives didn’t think of their pursuits as something that people outside of themselves would invest in. They also lacked the resources like mentorship, connections and finances to buy specific gear to make their dreams more of a reality.
We also found that there was a growing distrust between young people and large institutions - both in the art and financial world. Many expressed that they feel shut out by gatekeepers who don’t want to take risks on new ideas or emerging talent that hasn’t been heavily vetted.
LBB> How did the idea of creating a physical bank for supporting creatives come to pass, and what was the development process like?
Rethink> Herschel wanted to build something that was not only a little subversive, but could also show the next generation of creatives that their work is valued. It was important to express the firm belief that these creatives have what it takes to turn their side hustle into their main hustle. Flipping the idea of a traditional bank on its head was not only a way of doing that, but it served as a symbol of the struggles and gatekeepers many creatives face when they want to take their careers to the next stage.
LBB> Rethink handled production for this project. Can you tell us more about this? What was this process like, who from Rethink was involved, and do you plan to do more in-house work in the future?
Rethink> At Rethink, we have our own internal production department which we rely on heavily. For this project, we benefited from the fact that we’ve just recently expanded into the NYC market and had a producer on the ground who had connections in place to make sure the set-build and shooting could be done using locals.
LBB> The former Brooklyn Bank served as home to the two day activation. Was this always the first choice location, or were there other options you considered?
Rethink> The Brooklyn Bank was our first choice for a location. The space really helped make that connection (and distinction) between a regular bank and the Bank of Creativity. The old vault made for the perfect spot to present the artists with their supplies.
LBB> How was the production process? Do you have any interesting stories or anecdotes from on location? If so, please share!
Rethink> We had daily production meetings with our producer in NYC and the Rethink creative and account team to make sure things were moving forward before the activation day. So meetings on top of meetings on top of meetings. One thing we didn’t anticipate when we arrived on location was just how interested the general public would be when we showed up and started building. They were just so receptive and supportive when we explained the concept. It was early validation for the idea before we even executed it.
LBB> The spot shows several artists benefitting from the Bank of Creativity - being supplied with everything from cameras to art supplies. How were the featured artists selected? And what were some of the best reactions to the campaign?
Rethink> The brand partnered with established creatives Olivia Rose, Danny Cole and Sophia Wilson to provide mentorship to 18 up-and-coming creators, with the aim of helping them elevate their creative careers. Unlike traditional banks, the mentorship advice was personally tailored to each individual, their unique backgrounds and their craft. Each creator was carefully partnered with one of the three advisors based on their areas of interest and expertise. In addition to the mentorship, Herschel provided resources and supplies that were pinpointed by the creators as being critical to their career growth.
The creators featured in the campaign video were chosen based on authentic reactions and connections that were formed while shooting. We were able to capture segments of the meaningful conversations that the participants had with their advisors, as well as their genuine reactions to the bank vault.
LBB> Building on this, what made Olivia, Danny and Sophia the right people for the job? What was your relationship like for this project?
Herschel> We selected established creators who could relate to the experiences our participants are going through. Each of our advisors had faced similar struggles, being denied resources and mentorship. All three managed to put themselves out there and be successful in the most competitively creative city in the world, and they were more than willing to contribute their experiences to support up-and-coming creatives. As soon as we approached them with the idea, all three advisors were extremely excited to jump on board.
LBB> Upon seeing their potential new equipment, these artists often expressed that what they were getting was exactly what they needed. As such, what was the process of stocking the bank like? How did you know which items the artists would need, ahead of time?
Rethink> The contents of the bank vault were hand-selected for each participant. Many of the prizes were equipment that the creators had expressed they were unable to afford or would help take their creative output to the next level. This was identified through pre-interviews and through an online portal where we asked for initial submissions to attend the bank. We also consulted the three bank advisors, asking them what tools would have been helpful to them when they were beginning their creative journey.
There were tears and overall disbelief when we revealed our tailored prizes. One of the best reactions was from Chassidy David. “[Because of these amazing gifts], I can now say no to bad jobs.”
LBB> Since the launch of this campaign, have any of the selected artists achieved anything exceptional, with the help of the Bank of Creativity?
Herschel> All of the artists are continuing to create in each of their unique mediums. For some participants, the resources and equipment that they received through the Bank of Creativity meant that they no longer had to work second or third jobs to fund materials. While it’s only been a few weeks, we cannot wait to see what is ahead for all of them. Leanne ‘Lann’ Chan, whose single ‘Killjoy’ is featured in the Bank of Creativity video, has a new single coming out in October that we are looking forward to hearing.
LBB> This campaign is supplemented by a long-form OLV and short-form cutdowns, which will run until the end of September. What went into making these happen, does ‘Put Yourself Out There’ fit into Herschel’s overall brand strategy?
Rethink> We had an idea about the type of footage we would get when we created the activation, so we had a plan in place before we shot our real creators. It wasn’t an instance of ‘we’ll find it in the edit’. We knew the stories of our creators and already knew they aligned with the message we were trying to put out. To participate in the bank, Herschel asked each creator to put themselves out there, and it was important that the footage captured those moments.
Herschel> Aside from the campaign assets created with this activation, we’re considering bringing the Bank of Creativity into other markets in the future. ‘Put Yourself Out There’ is a value that we bring into everything we do - whether that’s by supporting young creatives through our bank, designing the best products to accompany every journey, or collaborating with brands and creators who share the same creative spirit as us.
LBB> What challenges have you faced during this project? How did you overcome them?
Rethink> The challenges faced during the production mostly had to do with timing. We had to make sure each creator got enough time to receive advice and mentorship from our advisors, and that our prize reveal wouldn’t be seen preemptively by any other creator entering the bank. So, it was about juggling logistics and making sure we had a schedule with built in buffers to protect each creator.
We also had a massive flood in the basement on day two of the activation, due to a random rainstorm in Brooklyn. As such, there was a scramble to not only protect the prizing and equipment, but to also get the place cleaned and cleared up before we kept shooting. It was all hands on deck.
Herschel> While the Bank of Creativity had an incredible impact on each individual participant, the biggest challenge is continuing to build and maintain these connections beyond this moment in time. In all areas of our brand - from our product offerings and partnerships right down to artist programs and events at our retail community hubs - the goal is to foster lifelong relationships with the creative community. There are already discussions about bringing the Bank of Creativity into other regions, and we’ll continue to prove that Herschel is the most trusted companion for creatives.
LBB> What has the response to the campaign been like?
Herschel> The responses we’ve received so far have been overwhelmingly positive. Many of our followers on social media have expressed their enthusiasm about this initiative, and a lot of them have even asked how they could get involved.
LBB> Do you have any final words of advice for aspiring (and likely underfunded) creatives?
Rethink> As a creative, do whatever you can to put yourself out there and create a network of inspiring people who uplift each other.
Herschel> Do what you can to put yourself out there; take a risk, try something new, and understand that failure is just as probable as success. What’s the best that could happen?
