MR. KRABS FROM SPONGEBOB SQUAREPANTS STARS IN ENVESTNET AD CAMPAIGN

LICENSING GLOBALLY RECOGNISED CARTOON CHARACTERS IN TV ADVERTISING CAMPAIGNS

BACKGROUND:

Envestnet is an American financial technology firm which develops and distributes wealth management technology and products to financial advisors and institutions. Their flagship product is an advisory platform that integrates the services and software used by financial advisors in wealth management. In previous advertising campaigns, Envestnet used real business owners with complex finances to demonstrate how their Envestnet Client Portal platform could help any client live an ‘Intelligent Financial Life™’.

THE CALL TO BORN:

For their next campaign, Envestnet wanted to do something really bold and unique. Boston-based creative agency, HeyLet’sGo, came to us with an amazing concept to use famous characters from pop culture to demonstrate how Financial Advisers could use Envestnet’s Client Portal platform to really help any client. Born Licensing was called on to explore a range of famous characters with complex finances – whether that be small business owners or millionaires.

RESEARCH AND DEVELOPMENT:

Over the course of a few months, Born Licensing sourced and presented over 20 different characters that were known for having complex finances. As HeyLet’sGo’s creative team whittled down the shortlist, we began engaging with the relevant Rights Holders to explore the feasibility of using their characters by walking them through the creative direction and beginning negotiations of commercial terms, should their character be chosen.

CUSTOM ANIMATION:

The campaign consists of a hero longform film, 3 x 30’s spots, plus various cutdowns and digital assets. Within the films we see money-obsessed Mr. Krabs on a video call with a bemused financial advisor trying to make sense of Mr. Krabs’ finances. The films combine live action with custom animation that was made specially and exclusively for this campaign. Born Licensing worked with Paramount and Hey Let’s Go to get the necessary assets released to develop the bespoke animation.

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WHERE BORN LICENSING ADDED VALUE:

Envestnet and Hey Let’s Go eventually landed on the perfect character for this campaign. The famously money-obsessed Mr. Krabs from SpongeBob SquarePants ticked all the boxes. A key character in the hit-show which has been running for over 20 years, Mr. Krabs has numerous assets including the Krusty Krab, the most popular restaurant in Bikini Bottom! Paramount are the Rights Holders of the SpongeBob SquarePants franchise. As Paramount’s licensing agent for advertising and marketing, we were able to negotiate the commercial terms of the license as well as manage all other aspects of the project from start to finish - without charging Envestnet or HeyLet’sGo any clearance fees.

THE APPROVAL PROCESS:

Paramount, the Rights Holders of SpongeBob SquarePants, were closely involved in the development of the creative and the custom animation. Scripts, storyboards, animatics, edits, and of course the final animation all had to be carefully reviewed and approved by Paramount to ensure the characters were being portrayed as authentically as possible. Born Licensing facilitated the resource-heavy approval process allowing HeyLet’sGo to focus on the production.

THE LAUNCH:

The campaign launched in the US in Summer 2022 across broadcast TV, digital, online, and social. The campaign leverages an interactive digital experience where advisors can engage with five scenarios inspired by the SpongeBob SquarePants TV series — such as the destruction of the Krusty Krab, opening a second restaurant, and firing SpongeBob — and through the portal, advisors can see how these events affect Mr. Krabs’ overall financial picture. Click here to have a look at the holistic financial picture of Mr. Krabs!

THE RESULTS:

The attention-grabbing campaign delivered significant uplift for Envestnet…

An impressive 96% of visitors viewed the complete demo experience
51% of visitors requested more information about how Envestnet could help them with some of the issues faced by Mr. Krabs in the provided materials
The average time on Envestnet’s website rose to over four minutes.

The campaign also won big at The Drum’s 2022 B2B Awards taking home…

Winner of Best Brand Website and Best Product Launch
Awarded The Drum’s Chair Award - a special accolade given to a finalist that marks the best of the show for the judging panel's chairperson
Highly Recommended for Best Brand Campaign, Best Customer Experience, and Best Digital Campaign

The campaign also won big at The 62nd Annual Hatch Awards, taking home 6 Gold (‘Business to Business’), 2 Silver (‘Business to Business’ and ‘Video Long Form’) and 1 Bronze (‘Illustration and Animation’).

THE EXPERIENCE

This was a huge project for all involved with many stakeholders involved. The entire licensing process, including research and development, negotiation of terms, the contractual process, invoicing, and the approval processes were handled by Born Licensing, allowing the other parties involved to focus on their roles.