Mydoh takes a family-first approach to financial literacy

Who: Mydoh, with Arrival + Departures for creative, Initiative Media for media.

What: The launch campaign for Mydoh (pronounced “my dough”), a money app and card product launched by RBC Ventures in August that teaches kids about money basics, while providing parents with tools to set spending limits and track spending activity. RBC Ventures houses a collection of 14 products providing offerings that go beyond Canadians’ typical daily banking needs.

When & Where: The campaign is in market now, with a national TV buy supported by paid digital and targeted out-of-home in the GTA.

Why: The campaign is intended to show how easy it can be for parents to incorporate the Mydoh app into their everyday life, while highlighting the benefits of teaching kids financial literary. Mydoh says that it is easier for good money habits to be carried through life when they start young.

“Mydoh is a new name, in a brand-new category—for most parents, having grown up in an age where tools for financial literacy really didn’t exist for them as kids, Mydoh and apps of its kind are quite unknown,” said Arrivals + Departure’s chief creative officer, Jeff MacEachern. “We want to show parents just how easy it can be to raise money-smart kids with Mydoh in their back pocket.”

How: The creative features a family that is using the Mydoh product, while showing its user interface and demonstrating its various features.

In the 30-second spot, a mom talks to camera about how the app and smart card lets her set tasks for her daughter, such as cleaning and making her bed, and pay her an allowance for doing them, while also enabling the parents to keep track of her spending to ensure she’s being smart with her money. The daughter, meanwhile, talks about how her Mydoh card lets her spend the money she’s earned on what she wants.

A second 15-second ad shows the product in action, with the daughter in her bedroom using her Mydoh card to purchase concert tickets. It then cuts to the parents downstairs in the kitchen, with the purchase showing up as a notification on her mom’s phone. “That’s the sound of our daughter using her Mydoh card to buy tickets to her favourite band,” says the mother over her daughter’s excited screaming.

Dad, meanwhile, is in both spots to provide a bit of comic relief: First noting that Mydoh is a much more useful app than one that lets people post pictures of their brunch, and in the second doing a fist-pump to celebrate the fact that the tickets his daughter purchased are for their favourite band.

And we quote: “What we hear most often from parents is that they want their kids to have good money habits, but they don’t know where or how to start,” said Mydoh’s head of marketing, Angelique de Montbrun. “That’s what I love about Mydoh. It has enabled my kids and I to have more frequent and better money conversations daily.”

Chris Powell