The Hindu Business Line : Yes Banking on `knowledge approach'

IT is a campaign that has preferred a money plant to a celebrity. The newest entrant in the competitive banking sector, Yes Bank, takes viewers of its first television campaign through the growth stages of a money plant — a metaphor for ideas getting realised.

And even though the first phase of the campaign ended recently, the money plant TV commercial will possibly be featured in the next stage too, starting April, even as the print ads of Yes shift their focus from introducing the bank to prospective customers to talking business.

The brief for the ad was to bring out the bank's commitment to all stages of growth, not just the financial transaction. "The money plant as a symbol adequately met our needs. There was no need for a human face. It also differentiates the commercial from the competition," says Triton Communications.

The business model too is different from "any other private Indian bank", says Yes, promoted by Mr Rana Kapoor and Mr Ashok Kapur, which has identified sectors such as food and agriculture, infrastructure, life sciences and healthcare, technology, telecom, commodities and energy for its business.

"A key differentiator is our knowledge-driven approach, and we plan to cover the entire supply chain through focus on knowledge verticals," says Mr Kapoor, MD & CEO, Yes Bank, indicating that its advertising will focus on this aspect, as well as its "strong financial credentials and the support from financial investors." As of now, Yes claims to have a loan book of over Rs 600 crore, as well as credit line from about 50 banks, including shareholder Rabo Bank.

The set of print ads talks about the bank's background, its promoters and the global institutional private equity investors that back it. The print campaign is "very different from the `smiling face'-oriented visual themes of other financial brands," says Mr Yateesh Srivastava, Executive Director, Strategic Planning, Triton.

Yes' direct mailer campaign involved sending a `live' money plant, along with a personal letter, to prospective clients and business associates. Till now, it has sent over 8,000 such money plants; and it's an ongoing activity, says Mr Srivastava.

In addition, the bank is planning outdoor and Internet campaigns too, though it hasn't yet finalised the media mix for the coming fiscal. The second phase of the campaign will see the use of radio, says Mr Srivastava, as also sector-specific ads.

Yes Bank says it has plans to roll out eight to 10 branches by March this year, and progressively expand so as to have 100 branches in three years.

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