BRAND MANAGEMENTSessions 10 & 11
NAB Case Study
&
Managing a Services Brand
33
National Australia Bank
Evaluate NAB’s Fair Value brand strategyShould NAB continue with the core message behind the breakup campaign?
44
Task
Evaluate NAB’s Fair Value brand strategy
Should NAB continue with the core message behind the breakup campaign
66
Growth decisions at the portfolio & brand level
2. Where can we grow?
3. Where shouldwe grow?
Retention/Referral
Market Share/Customer
Share
Price Premium
Addressable Market
4. What is our strategy?
5. How will we execute?
Brand Promise
Visibility
PromiseDelivery
Leverage
Goals &Expectations?
Revenue
Profit
Capital Efficiency
Market Leadership
1. What is our competitive advantage?
Valuable
Rare
Difficult
to Imitate
Organized
to Capture
Value
77
Potential framework to begin addressing Q 1
Brand Promise
Visibility
PromiseDelivery
Leverage
Clear, compelling promise of unique value:
Strong, positive brand associations:
High levels of awareness of promise in target market:
Awareness achieved through paid, earned & owned media:
High internal awareness & alignment on promise internally:
Strong promise delivery across all touch-points:
Leveraged to grow in retention/ share/ referral or margin
Leveraged to grow market share or addressable market:
88
Values ValuesHeritage Mission
Values ValuesHeritage Mission
Values ValuesHeritage Mission
Values ValuesHeritage Mission
Contextual attributes of the brand: heritage, values & mission
Brand Promise
Visibility
PromiseDelivery
Leverage
1010
Business Objectives
From strategy to execution (potential framework for Q 2)
Brand Attributes
Messaging
Customer Insights
Media
Strategy
Implementation
Competition
Metrics
1111
Framing (the problem)
Possible solutions (choices)
Best solution (rationale)
Execution (implementation)
Framework for making a recommendation (Q2)
1313
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’ ”
1414
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 Promise
Visibility
PromiseDelivery
Leverage
1616
16
Quality
Service &
Product
• 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
• 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
• 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 Value: the promise in detail
• Relief in hardship
• Shared Benefits: we want to give back and invest in our local communities
Help,
Guidance
& Advice
Fair Fees
&
Charges
Compassion
& Support
1717
Fair Fees and Charges: delivery
Brand Promise
Visibility
PromiseDelivery
Leverage
1818
Brand Promise
Visibility
PromiseDelivery
Leverage
2525
Perceptions of The Four Pillars Remained largely unchanged
2727
Trust in the Four Pillars
3030
The Break up
Brand Promise
Visibility
PromiseDelivery
Leverage
3131
Break Up Campaign
3333
Break Up Campaign Paid, Owned and Social Media
3838
Engaging tone of voice
Create a conversation
Use the “commentariat”
Wrap, don’t reinventBe different!
Build engaging content
Marry ‘old’ media with ‘new’
Multi-
dimensional
approach
Values-led
Blogs
Zoe Foster
PR
Experiential
approach
Social
media
Press Interviews
Stunts
Cheeky radio
ads, song
dedications
Helicopter Banner
Building Wrap
Building
Projections
Giveaways
Intranet stories
Back-to-
Attack
Street
Chalking
Street
Teams
Mobile pianists
Handouts
‘Blow-by-Blow’
momentum
BlogsUse existing
properties
’Buckets of Love’!
Ready to
make the
break?
Human
Cheeky
Audacious
Existing ads
Rally the troops
3939
NAB Advertising Spend Up to March 2011
4545
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
4646
Campaign Results: Attitudinal Change
4747
Campaign Results: Attitudinal Change
4949
Customer Satisfaction: In 2011 – NAB goes from 4th to 1st
5353
Business Objectives
From strategy to execution
Brand Attributes
Messaging
Customer Insights
Media
Strategy
Implementation
Competition
Metrics
5454
Business Objectives
From strategy to execution
Brand Attributes
Messaging
Customer Insights
Media
Strategy
Implementation
Competition
Metrics
5757
The role of marketing at NAB Interview with Kevin Ramsdale
https://www.youtube.com/watch?v=uqm-euVNmkQ&list=PLrBhmBrEJURMcbntIKpdOGCAWqiHdq2xN&index=7
6969
7070
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 Promise
Visibility
PromiseDelivery
Leverage
7171
Leading Retailers for Customer Loyalty
1. Amazon.com2. Zappos3. Walmart4. Target5. Sam's Club6. Sephora7. J. Crew8. B.J.'s9. Walgreens10. Costco
Brand Promise
Visibility
PromiseDelivery
Leverage
7272
Your b
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
Brand Promise
Visibility
PromiseDelivery
Leverage
7474
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 2015
7575
Revenue Growth
7676
Zappos 2015 rank 86
Avg. base pay (for hourly employee) $28076.00
Avg. extra comp. (for hourly employee) $4099.00
Mars 2015 Rank 85
Avg. base pay (for hourly employee) $38325.00
Avg. extra comp. (for hourly employee) $7489.00
Over 30% difference in average pay
Brand Promise
Visibility
PromiseDelivery
Leverage
7878
Behaviours will change when.....leadership takes responsibility for a customer centric organisational culture
7979
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
Brand Promise
Visibility
PromiseDelivery
Leverage
8080
Interview tih Tony Heish CEO Zappos
http://www.meettheboss.tv/video/how-great-service-transformed-zapposcom#