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#