Scotiabank shows Canadians there’s more than one way to be rich

Economic woes have been felt by millions across the U.S. recently—and the story is no different in Canada, where the country’s national broadcaster reports that the past 18 months “have been defined by a cost-of-living crisis and a slowing economy.” But in a new national campaign, Canadian financial giant Scotiabank is emphasizing that there is more to life than money, offering an optimistic take for struggling Canadians who might not realize that wealth doesn’t just take the form of dollars and cents. Titled “You’re Richer Than YouThink,” the bilingual campaign leans into—and borrows the phrasing of—the bank’s classic tagline, which first debuted in 2006 and has since become a well-known piece of advertising throughout the country. The hero spot is built as a series of interconnected shots showing increasing levels of asset-based wealth, designed to capture the feeling of believing that “someone’s got more,” the narrator says. But upon seeming reaching the pinnacle of “more”—a celebrity dashing from a private jet to a limousine next to a crowd of adoring fans—the narrator reminds viewers that “there’s more to life than more.” The work, and larger updated brand platform of the same name, was developed by Scotiabank’s agency of record, Canadian indie shop Rethink. Media was handled by PHD. “In the current economic environment, the future may feel daunting to some, and that’s why we’ve evolved our ‘You’re Richer Than You Think’ platform to more accurately reflect the behavior we’re seeing across Canada and to show how Scotiabank can be there when our clients need us,” said John Rocco, VP of global brand management at Scotiabank. In-house research revealed that many Canadians are spending a record-setting amount of time worrying about their daily expenses, debts and savings plans, Rocco said, adding that the new campaign is crafted to recognize the public’s “highly emotional” relationship with money. “Our message had to be about our customers first, and about the bank second,” said Katie O’Donovan, Scotiabank’s director of global brand management, to “ensure our message truly connects with our potential customers.” (Other than the closing title card, Scotiabank products such as its mobile banking app are only shown briefly a couple of times throughout the ad.) The spot posed something of a technical challenge for the crew, said Brendan Scullion, creative director at Rethink, “particularly because we decided very early on not to lean on any camera tricks like a whip pan to preserve the single, compelling story.” The campaign includes 15- and 30-second cuts in English and French that’ll run on broadcast and connected TV and online. The :60 will run on YouTube and at movie theaters across the country.

Scotiabank shows Canadians there’s more than one way to be rich

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