Why Envestnet used SpongeBob’s Mr Krabs to take Fintech to a wider audience

Why Envestnet used SpongeBob’s Mr Krabs to take Fintech to a wider audience

HeyLet’sGo won at The Drum Awards for B2B 2022 in the Chair Award, Best Corporate or Brand Website and Best Product Launch awards for Mr Krabs’ Fictional Finances campaign on behalf of Envestnet. Here’s why it caught the judges’ eyes.

Mr. Krabs' infamous financial savvy provided the hook for an award-winning B2B campaign

Mr. Krabs’ infamous financial savvy provided the hook for an award-winning B2B campaign

Children (and young adults) will recognize Mr Krabs from the ever-popular SpongeBob SquarePants cartoon. But his reputation as a savvy businessman and focus on slinging money away in chests allowed the character to speak to audiences beyond just comic book fans.

The card

Envestnet is a global fintech platform that has recently undergone a reinvention with a range of new tools and features. Given the rebrand and the crowded nature of the fintech space, the company needed to build awareness and interest in its new client portal – while continuing to support its core mission of helping advisors make an “intelligent financial life” a reality.

Given that the fintech sector is filled with marketing tropes and product details that are often overwhelming, Envestnet needed a way to spark viewers’ interest in the platform.

The idea

HeyLet’sGo reasoned that an eye-catching partnership with a recognizable IP would help cut through the noise. To that end, it searched past episodes of the popular Spongebob cartoon to find stories that illustrated Mr. Krabs’ problems that could be solved using the tools: small business expenses, cash flow management, and investments line by line.

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The team then created a three-minute film, three TV commercials and around 20 pieces of online content featuring the character. All the creatives drove financial advisors to the interactive experience, where they could explore the financial impact of five different scenarios to see how they could make an intelligent financial life a reality for their clients.

The results

The campaign, as sensational as it is, managed to give Envestnet a significant boost. 96% of visitors viewed the full demo experience, while 51% of visitors requested more information on how Envestnet could help them with some of the issues Mr Krabs is facing in the material provided. The average time on site rose to over four minutes, demonstrating the inherent value of a creative idea in generating tangible ROI.

This campaign was a winner at The Drum B2B Awards 2022. The full list of winners can be found here.

The Drum Awards for Marketing are currently open for entries. Find out how to enter now.

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