Capital One wants to make banking un-boring. The company recently launched Project Purpose, a series with food content maker Tastemade that will air onYouTube TV and PlayStation Vue. The move isn’t the first time Capital One has demonstrated an interest in creative marketing, but given the brand’s upward climb in Gartner L2’s rankings, it might not be the last. Here’s how unconventional initiatives have lit the way for Capital One’s success.
While big banks pour funds into Instagram and LinkedIn, YouTube is quickly joining the ranks as a popular marketing platform for finance brands. Geico, which took second place in Gartner L2’s most recent Digital IQ Index: Financial Services, scored the highest overall subscriber count and acquisition rate registered on its YouTube channel, and adoption of the platform has grown from 82% to 91%.
While Capital One has collected just over 24,000 subscribers on YouTube, its capacity for appealing to young people appears to be catching on. Its most popular video boasts almost two million views and focuses on how to teach teens about financial responsibility. The company also introduced Capital One Cafe, where customers can enjoy both beverages and banking in a cafe-meets-bank environment fueled by Peet’s Coffee & Tea. Furthermore, one of these locations sits just a block away from a New York University dorm. Project Purpose, which features Zooey Deschanel, could also be another point of interest for younger clients, as it explores trending topics in food and travel and will be airing on platforms popular with youth.
The capacity to be creative can be found in every bank. Capital One’s latest project demonstrates that you don’t have to be a fintech upstart or online native to make digital waves in the financial field.