Brand Trend - Big Banks Big Lifestyles
February 02, 2016
Banking has always been an interesting industry to follow as far as branding goes. When I was growing up, banks served a purpose that was pretty black and white. People could access the bank from a branch and a branch only, later on ATMs coming into the scene and making life much more convenient. But now as our world conveniently builds around us - on tablets, mobile phones, wearable tech and much more, banks are quickly and competitively repositioning themselves into the lifestyles of consumers to keep up.
The truth of the matter is, banks are extremely hard to differentiate. Sure they might have a few differences in technologies, account fees and policies, but for a bank to really create long lasting relationships and loyalties with its clients, they need to step up to the plate to deliver personalised structures that will become a true part of its clients everyday lives. The banks that build their models on traditional operational convenience are going to get lost.
We took a look into the main banks here in Australia and how they are positioning themselves to differentiate.
Bank of Melbourne
The latest campaign from Bank of Melbourne aims to prove that it is a brand with an offering as unique as the city we live in. Looking to Melbournes people, business and communities, the bank use these connections to reestablish itself as a lifestyle brand. By showing that they truly understand the makers, crafters and doers that make up our city, this in turn means they understand their consumers needs. The film was created by the banks lead creative agency Saatchi & Saatchi earlier this year.
In May this year, ANZ released a new brand positioning - Your World, Your Way - which reflects on how ANZ can help people make the most of their opportunities, in order to live the life they want. The Your World campaign released with the new positioning features a number of inspiring accomplished human beings, or “world shapers”, such as world number one professional golfer Lydia Ko, Atari founder nolan Bushnell and the first woman to visit the North Pole, South Pole and Mount Everest Dr Rebecca Lee.
For many years, the Commonwealth have structured their brand around the “can” principle - “Can makes things happen. Can helps us move forward. Can Rocks.” By promising to be champions of “can”, Commonwealth also promises to help consumers achieve whatever they aspire to. They continue to build on this strategy with latest campaign “When we believe, we can” from agency M&C Saatchi. The ad taps into consumers childhood dreams to suggest these dreams are still achievable (with a little help from your friendly neighbourhood bank).