Matt FarnhamBehavioural incentive campaign that increased active deposit behaviour by 46.5% during the campaign and continued growing after the incentive ended.
Driving sustained deposit growth through behavioural incentives
To support MOVE Bank’s strategic goal of increasing deposit activity and deepening member engagement, I led the development and execution of the MOVE and Win campaign. This campaign was designed to encourage both new and existing members to use their S3 (Everyday Transaction Account) account regularly by rewarding consistent saving behaviour.
Campaign Concept:
MOVE and Win offered members the opportunity to enter a monthly prize draw simply by depositing $1,500 or more into their S3 account. This threshold aligned with our internal benchmarks for active engagement and positioned the account as a core part of members’ everyday banking rather than a secondary or passive product.
The campaign ran from March to May 2025, during which members could participate each month they met the deposit criteria. The aim was not only to increase uptake of the S3 account but also to encourage a repeat pattern of behaviour that would continue beyond the incentive window.
Strategic Objectives:
- Grow overall deposits through increased S3 account usage
- Encourage behavioural change by rewarding monthly savings activity
- Attract new members and establish habitual engagement from the outset
- Strengthen the role of the S3 account in members' day-to-day financial routines
Results
Deposit Behaviour Change
- The number of members depositing $1,500+ per month rose steadily during the campaign:
- 46.5% increase from February to May
- 75% increase compared to pre-campaign levels in December 2024
Sustained Impact
- In June 2025, deposit behaviour continued to rise by 6.25%, even after the incentive ended
- This indicates the campaign was successful in shaping long-term behaviour, not just short-term engagement
Why It Worked:
This campaign demonstrated the power of combining clear financial incentives with habit-forming design. By setting a tangible monthly goal and providing a low-effort reward mechanism, we encouraged members to build a consistent pattern of saving that aligned with their personal financial goals and our business objectives.
The simplicity of the criteria, the relevance of the reward, and the repeated monthly cycle helped embed the behaviour into members’ routines — a key success factor in achieving long-term change.
Conclusion
MOVE and Win delivered strong results in acquisition, deposit activity, and behavioural change. The campaign’s success highlights the effectiveness of incentives when aligned with business strategy and member behaviour. With sustained engagement post-campaign, MOVE and Win has set a strong benchmark for future behavioural campaigns at MOVE Bank.
What Worked Well
✅ Simple Criteria – Members clearly understood the action required to participate
✅ High Perceived Value – Prizes aligned with members cohorts values.
✅ Multi-channel Messaging – Reinforced across email, app, and digital channels
✅ Behaviourally Anchored – Designed to create habits, not just a one-off lift
Opportunities for Future Campaigns
- Consider layering on tiered rewards to further encourage higher deposits
- Test a version with referral components to drive additional new member acquisition
- Introduce progressive messaging during the campaign to reinforce monthly momentum
Matt Farnham is an award-winning senior marketing leader with more than a decade of experience in brand, communications and customer engagement. His work has focused on helping organisations build trust, strengthen customer relationships and drive sustainable growth, particularly in highly regulated industries. In 2024, he was named Future Leader of the Year at the Australian Marketing Institute Marketing Excellence Awards. He writes about brand strategy, marketing effectiveness and customer behaviour at mattfarnham.au.