|Product/Service||FINANCIAL SERVICES |
||A01. CORPORATE REPUTATION & COMMUNICATION|
IDEA BANK Warsaw, POLAND
IDEA BANK Warsaw, POLAND
CODEMEDIA Warsaw, POLAND
KOI STUDIO Warsaw, POLAND
||Idea Bank SA
||Idea Bank SA
||Channel And Event Marketing Manager
||Idea Bank SA
||Copywriter/Art Director/Creative Director
Idea Bank is a Polish medium-sized bank offering financial services mainly to micro- and small-scale entrepreneurs. By inventing a non-standard communication campaign, the bank wanted to distinguish itself from other financial entities and promote its specific market profile. In 2013 it initiated ‘Be Proud’ - a program aimed at providing professional marketing services to small business owners. Each participant received a dedicated TV ad and a packet of online, print and PR materials and tools - at no charge. This way Idea Bank' clients received the opportunity to promote their businesses in the mainstream media. Taking it, they also agreed to promote the bank along with its services and products, as all the advertising materials were branded with Idea Bank’s logo.
In the first year the bank managed to conduct over 110 micro-campaigns. Program’s popularity has resulted in a raised brand awareness followed by dynamic financial growth, even though the main purpose of the program was to popularize Idea Bank’s image of a small-business friendly financial institution. Since the beginning of 2013, the number of visits to Idea Bank branches has doubled - and so has the number of its clients. Program participants also observed significant development of their businesses. Some of them even quadrupled their income.
This entry is appropriate for PR: even though the campaign used a wide range of marketing tools, it was strictly image- and reputation-related. The bank gained no material profits from the program. The main purpose was to shape the perception of Idea Bank.
As other entities from the financial sector communicate their services mainly through product and celebrity endorsement, Idea Bank was set to come up with a different strategy, which could help it assert itself as a leading market player without weighing down the budget. The main goal was to increase Idea Bank’s brand awareness through promoting its specific market profile. The target audience were small-scale entrepreneurs: Idea Bank’s current and potential clients alike. Market research showed that one of the greatest problems they face is the lack of funds for promotion and that they are very passionate about their businesses.
Program’s popularity resulted in a raised brand awareness followed by dynamic financial growth. Since the beginning of 2013, the number of visits to Idea Bank branches has doubled - and so has the number of its clients. Many newcomers admit that they joined Idea Bank just because of the ability to benefit from the program. The bank has gained both recognition and new business partners, and its relations with the customers became more personal. Now it is perceived as a leader in servicing small entrepreneurs.
The participants also observed a significant development of their companies – some of them even quadrupled their income, many expanded businesses and were approached by valuable contractors. Owner of 71-, for instance, reported largely increased site traffic and business outreach, while Ciuciubabka reported clientele extension and sales growth.
Idea Bank clients would volunteer to participate in the program online or in their local offices. Each selected applicant received a dedicated TV ad and a packet of online, print and PR materials. ‘Be Proud’ spots were distributed online and aired on nationwide TV. Promotional articles were published in the variety of magazines and newspapers (both national and regional, news and business oriented) and on the most read Polish news sites (Gazeta.pl, naTemat.pl). The full packet included social media activities and – in some cases - outdoor advertising. Many program participants were invited to popular TV and radio shows as guests.
In the first year the bank managed to conduct over 110 micro-campaigns. Though it was supposed to be a one-time-only initiative, in the face of the program’s imminent success the plans were revised and now ‘Be Proud’ is already in its fourth edition.
Idea Bank is a Polish medium-sized bank offering financial services mainly to micro- and small-scale entrepreneurs. Founded in 2010, the bank is still young and eager to raise its brand awareness. The market it operates on is highly competitive - its participants are all large financial institutions with strong brands and many years of experience in servicing small-business owners (mBank, Alior Bank, FM Bank). Last years were especially difficult for this sector, mainly due to the recent financial crisis. The banks have been constantly searching for new communication solutions which could help them increase their competitive advantage.
The strategy assumed that the best way to promote the bank’s profile is by showing the success stories of its clients. Shortly speaking, the bank resigned from an explicit brand communication, focusing the campaign’s key message on the clients and their businesses instead. Such an approach should be considered highly innovative in a rather conservative financial sector, which is traditionally very discreet about its clients’ identities. This innovation was aimed at attracting even more attention towards Idea Bank’s brand.
Idea Bank initiated a program aimed at providing commercial communication services to small-scale entrepreneurs. As a result, Idea Bank clients were given the opportunity to promote their businesses in the mainstream media. Taking it, they also agreed to promote the bank along with its services and products, as all the advertising materials were branded with Idea Bank’s logo. This way Idea Bank could reinforce its image of a small-business friendly institution.