This week, Banco Popular and JWT San Juan won a bronze Lion at the Cannes Lions International Festival of Creativity for “My Bank, My Space,” a response to Puerto Rico’s eight-year recession that focused on promoting customers’ small businesses. Banco Popular and JWT have been aiming to infuse hope into the Puerto Rican economy for the past few years. In 2011, the bank rewrote a popular song to help stimulate the economy by challenging a reliance on welfare (winning a Grand Prix at Cannes), while in 2012, another campaign transformed an Olympic hurdle event into a metaphor for overcoming life’s obstacles.
Puerto Rico’s economy is still struggling, and after its credit rating dropped to junk status, the bank took its efforts a step further. Focusing on actively generating fiscal development rather than simply inspiring it, the “My Bank, My Space” initiative gave 140 small-business customers the marketing platform and budget to fuel their enterprises. Banco Popular built a full-scale production studio to produce TV and radio spots, using its entire advertising and corporate media budget for the project, which included print ads and an online platform for these businesses to promote their products. The campaign garnered significant media attention, providing additional promotion for the small businesses and for the bank.
Banco Popular successfully combined corporate and human interest to help stimulate growth, not merely speaking to customers’ monetary troubles but tackling them head-on with a pragmatic expediency.