Priya Nair

We all love stories. Their appeal is universal, all the more so if they are ones that evoke emotions. The chances of such stories being remembered and retold are higher. It’s this appeal that the advertising campaigns of some public sector banks have capitalised on. Three public sector banks’ campaigns currently on air use images of children, animals and friendly strangers — images that one would normally not associate with financial services — to tell stories of what they stand for and how they have changed or wish to be seen.

Since the entry of the new-age private sector banks with their promises of faster customer service and products backed by the latest technology, the image of public sector banks in India had taken a beating. However, over the last few yeas, PSU banks have upgraded their technology. Now, they are on par with their private sector counterparts in all aspects. This is the message they hope to get across through their ad campaigns even as they put in place changes at the ground level.

For Union Bank of India, which recently changed its logo and brand, it was important to be perceived differently, says R. B. Menon, Deputy General Manager, Corporate Communications. Menon says: “In the financial services sector how you are perceived is critical because any product is commoditised very fast. Some studies had indicated that top-of-mind unaided recall was not very high for Union Bank of India. Also, in the last two years we had made a lot of changes internally, but these were not known to the world. So we felt re-branding was necessary.”

A survey conducted showed the bank was perceived as one meant for slightly older people, not for high-fliers and youth. The one positive feature was that it was seen as a trusted bank, Menon says. “But it was felt that we were never the first in anything, despite being the first to launch several products and services. We were seen as a middle-of-the-road kind of institution. We wanted to change this image,” he says.

The series of television and print commercials show various relationships, how two people who are linked to each other (as spouses, siblings, parents) can fulfil their dream. It symbolises partnership.

Similarly, the aim behind IDBI Bank’s campaign is to show how the bank, which is known more as a bank specialising in lending to big corporates, is equally concerned about retail customers and is a serious player in the consumer or retail banking space. Hence, the tagline “Not just for the big boys … banking for all.”

O. V. Bundellu, Executive Director, IDBI Bank, says, “The idea is to mention that while the erstwhile IDBI was essentially a wholesale bank for four decades, lending to many of the mid- and large corporates, now we have started retail banking, which also includes small and medium enterprises, agri-lending, trade-finance and so on.”

Union Bank’s ad uses close relationships to communicate the partnership between the bank and customers. Arijit Ray, Executive Vice-President and Head, Mumbai, Mudra, the agency which worked on Union Bank’s logo change and advertisements, says, “Out of our research it emerged that for the bank’s customers the trust factor was very critical. So, ‘partnership’ was a big factor.” The ads show how the bank is one which understands the customers and, hence, the customer is comfortable with the bank, despite the change. “That is the fundamental emotion. It captures the bank’s tagline — ‘Your dreams are not yours alone’”, Ray says.

Indian Overseas Bank’s advertisement, which depicts a little child trying to snap his fingers, in various situations — at school, in bed, in the park — is about how a little bit of personal advice given by the banker can help customers at the opportune moment. The advertisement begins with a customer walking into an IOB branch with his son. Even as his father goes about his business at the bank, the child is engrossed in trying to figure out how to snap his fingers. A friendly IOB officer shows the child how to do it the right way. Thereafter, the kid assiduously practises the action day and night. When he finally learns, the firm, resounding click helps prevent the pocket of an old man from being picked.

“Salah humaari, faayda aapka” goes the catch line, capturing the entire situational metaphor, says a note from Everest Brand Solutions, which worked on IOB’s campaign. Even a tiny bit of personal advice given by Indian Overseas Bank can help you gain financially – that’s the message that IOB’s thematic television commercial, its first ever in its 70-year old history, seeks to convey.

D. Rajappa, President, Everest Brand Solutions says, “Our studies showed that IOB is highly rated by its existing customers. This experience is what is being celebrated in the TVC.” The aim behind IOB’s new brand-building campaign was to assert and reinforce its commitment to the prosperity and well-being of its customers. The ad is, therefore, about the warmth and personal experience of a bank that has been around for over 70 years, as well as about the shared relationship of growth — true to its tagline “Good People to Grow With”.

N. Padmakumar, National Creative Director, Everest Brand Solutions, says, “IOB’s genuineness and solidity is loved and respected by its customers. The idea, therefore, was to create a commercial that would convey the message of financial prosperity, but with an aura of warmth and approachability.”

IDBI Bank’s commercial, created by Ogilvy & Mather, has a few boys playing football in a forest-like setting, when an elephant comes out of the thicket. Scared, the boys run away. It happens the second time too. But this time the big elephant steps aside and slowly draws out a little elephant, which then joins the boys in their games, while the parent watches on. “IDBI was considered a big elephant lending to the big boys in the corporate world. But now retail is also a focus area for us. That is why the baby elephant,” Bundellu says. The bank has been gradually growing its network once it got into retail banking and after acquiring United Western Bank. It hopes to grow more in the retail space.

However, there is something lacking in the commercial, which has no voice-over, only background music, he adds. “Maybe we should have explained the idea orally. But we have kept the message subtle. In addition to the television commercial, we are also doing below-the-line advertising by putting up banners in branches, speaking to customers, doing roadshows and putting up hoardings,” he adds.

According to Ambi M. G. Parameswaran, Executive Director & CEO — Mumbai, Draftfcb + Ulka, the high-profile advertising by PSU banks is a laudable effort as it acknowledges the importance of advertising and brand building.

However, the banks need to remember that brand building needs a few key ingredients: a clear definition of what the brand stands for that is unique, relevant and believable; a long-term orientation to brand building across the organisation; a service organisation where all employees live up to what the brand promises; and consistent brand building inputs. “If the banks continue this newfound enthusiasm with all these four imperatives, one will applaud their efforts. As of now, these are only flashes,” he says.

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