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4 April 2006
Standard Bank will be changing its brand essence and pay-off line to align with the group vision of being committed to "making a real difference" and being relevant to the societies in which it operates.
Using extensive research and feedback from customers, staff and other stakeholders, and in line with its evolving business strategy and group vision and values it became apparent that Standard Bank needed a revised brand promise and new pay-off line: Inspired. Motivated. Involved.
Says Sarah-Anne Orphanides, Standard Bank Group Marketing Director: "'Simpler. Better. Faster.' served us extremely well for many years and is a strong slogan, but it must be remembered that in an environment where customers' needs are continuously changing, Standard Bank as an organisation needs to consistently evolve. Our new pay-off line "Inspired. Motivated. Involved." encapsulates the essence of what we are and what we would like to be for our customers, our people and our stakeholders. We are striving to make a real difference."
Research into the relevance of the new pay-off line and its comprehension among consumers and staff has been conducted in South Africa as well as several other countries in Africa and has been widely accepted.
As a financial institution with representation in 38 countries across the world, including 17 in Africa, Standard Bank is aware of its responsibilities to the diverse stakeholder audiences with which it interacts. From delivering value to shareholders, through empowering and rewarding its people, to providing exceptional service to customers and giving back to communities where the bank operates, Standard Bank acknowledges its ongoing commitment to making a meaningful difference.
Since its inception in 1862 in Port Elizabeth, the Standard Bank brand has moved forward in parallel with society and customers' needs, earning the accolade of being voted the best financial services brand for the past 11 years and featuring in the Top 10 Most Admired and Trusted South African Brands rankings in the annual Markinor/Sunday Times Top Brands survey. Additionally it was ranked South Africa's Most Valuable Brand in 2005 in the Interbrand Sampson rankings.
In 2004, Standard Bank consolidated all its local and international business operations under the Standard Bank brand (or Stanbic Bank brand where relevant in some African markets). This consolidation ensured that Standard Bank focused all its efforts behind a single brand, assisting in improving co-operation between the various business units to focus on its customers.
This customer-centric focus was further emphasised through the launch of Standard Bank's vision and values in 2005, which committed all at Standard Bank to making a real difference to financial services in South Africa and other emerging markets. The vision and values underline Standard Bank's endeavours to ensure long-term sustainability by "harmonising the needs of our customers, our people and our shareholders and by being relevant to the societies in which we operate".
Says Orphanides: "We have carried out extensive research to develop a greater understanding of attitudes, beliefs and expectations of Standard Bank and the way in which these could best be met. Based on this research, it became apparent that a revised brand promise and pay-off line needed to be developed to align with the group vision and values. The intrinsic value of the brand has also been maximised by aligning a core set of brand characteristics and principles to assist in providing a consistent brand experience."
Finding the right slogan proved to be a challenge due to the broad acceptance of Simpler. Better. Faster. which was launched in 2000, and a new line needed to build on the operational efficiency which has now become entrenched. Standard Bank's commitment to delivery is complemented by a determination to be seen as an organisation that constantly evolves and visibly contributes to the markets in which it has a presence.
"The new pay-off line and modernised logo will be brought to life in Standard Bank's marketing and advertising strategies, starting with a branding campaign that will kick-off in early April," says Orphanides.
"In a bold move away from convention, the campaign does not employ paid actors and approved scripts to create the requisite television and print commercials, but instead features 'real' people from a broad range of backgrounds relating personal accounts of how Standard Bank has made a difference in their lives. There will also be changes made to all marketing collateral and branch signage - the whole contributing to an overall repositioning of Standard Bank in the hearts and minds of our customers, our staff and our stakeholders."
More info
Unconventional advertising approach helps Standard Bank 'make a difference'
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