Ally Financial: The First Bank that Accepts Reddit Gold
DETAILS
Ally Financial became the first official bank to accept Reddit Gold by offering up a high value exchange rate for users looking to make their Reddit Gold "work smarter." Ally offered up Argentium, a Reddit award worth roughly 40x the value of Gold, in return for each piece of Reddit Gold awarded to Ally's post.
SKILLS
Advertising
Brand Strategy
Copywriting
Community-Management
The Ally Post is now the most Reddit Gold awarded Promoted Post of all time and the most Gold awarded post on Reddit in 2020.
The bank opened for business and Redditors found a stickied comment from Ally, with instructions on how to redeem their Argentium. The first step was to award Ally's post with Gold non-anonymously, then leave a comment on the post and last but not least, profit by getting awarded Argentium in return. Ally's vault was stashed with 400 pieces of Argentium so Redditors had to act fast to make good on their investment. And they did act fast. Ally was “sold out” of Argentium within 72 hours.
Check out the Reddit x R/GA campaign recap video here:
Awards and Press
Effie Worldwide - 2021, Gold Effie for Marketing Innovation
AdWeek - Media Plan of the Year: 24 Strategies That Inspired, Informed and Cut Through the Noise
“The campaign worked. Ally’s single post was awarded the most gold in Reddit history, smashing the previous record by a factor of 40 in just three days. It also generated a 26% rise in brand favorability and an 18% boost in consideration intent among Redditors exposed to Ally."