How many of you had seen this ad? Please comment, if you had seen this ad.
How do you rate this ad of Rashtriya Banijya Bank, made by Mars Advertising? It was launched last month.
Here are my few cents on the ad and the strategy.
What is the purpose of the ad?
From the advertisement it is evident that the objective is reposition the brand from an old-fashioned Government bank to a more contemporary and modern bank. While the concept holds promise, its execution falls somewhat short, lacking the impact it needs to stand out.
The advertisement seeks to persuade customers to try the product before forming judgments, but history shows that achieving this objective only through ads is a rarity.
Repositioning Strategy
Advertisements can help reposition but it is a holistic exercise which requires harmonious alignment of all touchpoints, encompassing the holistic execution of the 7 Ps. The idea is to adjust the perception in the minds of the customers. It is often done by targeting new customers, launching new products, changing brand elements etc. Even if we talk from purely communication point of view, in services only external marketing is not enough. If the execution is lacking in internal and interactive communication, all efforts of external communication go haywire.
Curiously absent from the official YouTube and Facebook pages, the ad’s reach is restricted by the absence of paid promotions on social media. While I’m unable to comment on its television presence, it’s clear that digital avenues have been neglected.
From the advertising Perspective
The ad core concept has potential, yet it lacks the necessary brand elements to make it truly impactful. A simple addition, such as introducing the bank’s logo at the top, could have provided a vital visual cue. Even the ad’s thumbnail, featuring the logo, could have enhanced brand recognition. A music or a sound developed for the bank could have enhanced the impact. Even the narration was not much profound.
An intriguing aspect of the ad is the presence of four distinct stories. Each of these stories possesses the potential to stand alone, creating an emotional connection with the audience. I assume the budget must be the issue here.
Each story has a potential to be narrated separately in different ads. A common brand asset could have connected the stories to the brand. This could have enhanced the emotional connection of the brand.
Summing up the key points:
Separate ads for each story could have forged deeper emotional connections with customers.
Integration of a unique brand asset, such as sound or music, would have linked the stories to the brand’s identity.
Leveraging paid promotions could have significantly expanded the ad’s reach and impact.
Repositioning requires a comprehensive strategy encompassing both external, internal and interactive communications.
In conclusion, the Rastriya Banijya Bank advertisement demonstrates a commendable effort to revamp the brand’s perception. While its core idea is promising, the execution misses the mark due to its disjointed nature and absence of strategic integration. To maximize the effectiveness of repositioning, a holistic approach across all channels and touchpoints is essential.
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