BRAND MANAGEMENT. Sessions 10 & 11 NAB Case Study & Managing a Services Brand

Transcription

1 BRAND MANAGEMENT Sessions 10 & 11 NAB Case Study & Managing a Services Brand

2 National Australia Bank Evaluate NAB s Fair Value brand strategy Should NAB continue with the core message behind the breakup campaign? 3

3 Task Evaluate NAB s Fair Value brand strategy Should NAB continue with the core message behind the breakup campaign 4

4 Growth decisions at the portfolio & brand level Goals & Expectations? 1. What is our competitive advantage? 2. Where can we grow? 3. Where should we grow? 4. What is our strategy? 5. How will we execute? Revenue Valuable Retention/ Referral Brand Profit Rare Market Share/ Customer Share Visibility Capital Efficiency Difficult to Imitate Price Premium Delivery Market Leadership Organized to Capture Value Addressable Market Leverage 6

5 Potential framework to begin addressing Q 1 Brand Clear, compelling promise of unique value: Strong, positive brand associations: Visibility High levels of awareness of promise in target market: Awareness achieved through paid, earned & owned media: Delivery High internal awareness & alignment on promise internally: Strong promise delivery across all touch-points: Leverage Leveraged to grow in retention/ share/ referral or margin Leveraged to grow market share or addressable market: 7

6 Contextual attributes of the brand: heritage, values & mission Heritage Values Brand Values Mission Heritage Values Visibility Values Mission Heritage Values Delivery Values Mission Heritage Values Leverage Values Mission 8

7 From strategy to execution (potential framework for Q 2) Business Objectives Customer Insights Competition Brand Attributes Strategy Messaging Media Implementation Metrics 10

8 Framework for making a recommendation (Q2) Framing (the problem) Possible solutions (choices) Best solution (rationale) Execution (implementation) 11

9 Cameron Clyne Safe is the new risk In order to take a leadership position we needed to continue to challenge the status quo, which is why we have really had to challenge ourselves in every possible way to ensure that we are doing things differently, and better than our competitors 13

10 Fair Value Strategy: the promise The strategy built on four pillars of change: 1. Quality products and services 2. Fair fees and charges 3. Helping and guiding customers 4. Compassion and support Brand Visibility Delivery Leverage 14

11 Fair Value: the promise in detail Compassion & Support Relief in hardship Shared Benefits: we want to give back and invest in our local communities Help, Guidance & Advice Be open about our pricing decisions and their impact Help and education so customers can manage their accounts optimally and grow their financial outcomes Fair warning to inform customers if they are to incur an avoidable fee Fair Fees & Charges Value: Every fee will relate to a service of value to customers Choice: Customers will be able to choose the services that they use and consequently the fees they incur Simplicity: Services will have simpler & fewer fees, well understood by the customer Quality Service & Product 16 Accurate service right the first time and in reasonable time Reliable & straightforward products & services fit for purpose Consistent messages and service via all channels Safe and Secure banking Access providing all segments in the community with access to banking products and services 16

12 Fair Fees and Charges: delivery Brand Visibility Delivery Leverage 17

13 Brand Visibility Delivery Leverage 18

14 Perceptions of The Four Pillars Remained largely unchanged 25

15 Trust in the Four Pillars 27

16 The Break up Brand Visibility Delivery Leverage 30

17 Break Up Campaign 31

18 Break Up Campaign Paid, Owned and Social Media 33

19 Marry old media with new Engaging tone of voice Cheeky Audacious PR Use the commentariat Social media Experiential approach Back-to- Attack Helicopter Banner Be different! Building Projections Build engaging content Street Teams Street Chalking Cheeky radio ads, song dedications Stunts Mobile pianists Giveaways Values-led Human Multidimensional approach Blogs Zoe Foster Create a conversation Press Interviews Buckets of Love! Handouts Intranet stories Blow-by- Blow momentum Building Wrap Existing ads Wrap, don t reinvent Blogs Ready to make the break? Use existing properties Rally the troops 38

20 NAB Advertising Spend Up to March

21 Campaign Results: Financial and Behavioral Change $ 50million in earned media in a single day # 1 most discussed topic on Twitter 100,000 + visits to NAB blog in one day 73% increase in mortgage enquiries in 1 week 50% increase in credit card applications in one week 20% increase in transaction accounts opened in one week 45

22 Campaign Results: Attitudinal Change 46

23 Campaign Results: Attitudinal Change 47

24 Customer Satisfaction: In 2011 NAB goes from 4 th to 1 st 49

25 From strategy to execution Business Objectives Customer Insights Competition Brand Attributes Strategy Messaging Media Implementation Metrics 53

26 From strategy to execution Business Objectives Customer Insights Competition Brand Attributes Strategy Messaging Media Implementation Metrics 54

27 The role of marketing at NAB Interview with Kevin Ramsdale 57

28 69

29 David Beckham embodies contemporary British style and sophistication. He is a truly modern, British individual with a genuine passion for design, innovation, performance and driving. Brand Visibility Delivery Leverage 70

30 Leading Retailers for Customer Loyalty Brand 1. Amazon.com 2. Zappos 3. Walmart 4. Target 5. Sam's Club 6. Sephora 7. J. Crew 8. B.J.'s 9. Walgreens 10. Costco Visibility Delivery Leverage 71

31 Brand A company's culture and a company's brand are really just two sides of the same coin. The brand is just a lagging indicator of the culture. Tony Hsieh CEO Zappos Your b Visibility Delivery Leverage 72

32 When we find organisations that do not care that their delinquent culture is hurting consumers, then we must be firm and credibly deter this behaviour. To this end, we have suggested broadening the Crimes Act culture provisions to the financial services and products provisions of the Corporations Act, and extending these provisions not just to companies but also responsible management. One of the recommendations of the UK's recent Fair and Effective Markets Review was that firms take greater responsibility for their employee's conduct. It also sought to reverse the tide of ethical drift which has led to recent scandals. Specifically, the final report recommends the most senior people in a firm should be held personally accountable for the behaviour of those on the frontline. Greg Medcraft is chairman of the Australian Securities and Investments Commission. AFR June

33 Revenue Growth 75

34 Brand Visibility Delivery Zappos 2015 rank 86 Avg. base pay (for hourly employee) $ Avg. extra comp. (for hourly employee) $ Leverage Mars 2015 Rank 85 Avg. base pay (for hourly employee) $ Avg. extra comp. (for hourly employee) $ Over 30% difference in average pay 76

35 Behaviours will change when... leadership takes responsibility for a customer centric organisational culture 78

36 Brand Visibility The best customer service is if the customer doesn t need to call you, doesn t need to talk to. Jeff Bezos founder and CEO of Amazon Delivery Leverage 79

37 Interview tih Tony Heish CEO Zappos 80