BBDOKNOWS

THE BANKING IMAGE CRISIS 2013

BBDO KNOWS BBDOKNOWS THE CONTEXT

BBDOKNOWS

FEWER PEOPLE TRUST BANKS TODAY THAN AT THE HEIGHT OF THE BANKING CRISIS

Source: Ernst & Young data 2012

BBDOKNOWS

THE NUMBER
OF CONSUMERS

SWITCHING
BANKS IS RISING

Source: Ernst & Young data 2012

BBDOKNOWS

THE NUMBER OF CONSUMERS WHO HAVE RELATIONSHIPS WITH MULTIPLE BANKS IS RISING

Source: Ernst & Young data 2012

BBDOKNOWS

5 YEARS ON AND WE ARE STILL MID STORM

BBDOKNOWS THE EXTERNAL CONTEXT

PLEASE PLAY CONTEXT FILM

BBDOKNOWS

THE EXTERNAL CONTEXT IS: CHALLENGING VOLATILE UNCERTAIN

BBDOKNOWS

WHAT DOES THIS MEAN FOR THE BANKING INDUSTRY?

BBDOKNOWS THE BANKING INDUSTRY

PLEASE PLAY BANKING INDUSTRY FILM

BBDO KNOWS THE IMAGE OF BANKING

GREED BLAME MISTRUST

BBDO KNOWS BANKS VS. PEOPLE

Media headlines do much to fuel the perception of injustice. Consumers perceive banks to be the cause while they feel the effects. Headlines outlining this injustice do little to help the image of banks, we are still in the midst of a banking IMAGE crisis

CAUSE

EFFECT

Source: London Evening Standard 2012-2013

BBDOKNOWS

5 YEARS ON AND BANKS ARE STILL MID IMAGE CRISIS

BBDOKNOWS

CHALLENGE: CHANGE THE CONVERSATION

Source: Statistic Brain

BBDOKNOWS BBDO KNOWS BBDOKNOWS BANKS - THE PRODUCT

BBDOKNOWS THE MESSAGE THAT

BANKS PROVIDE A

VITAL SERVICE
TO THE ECONOMY

HAS BEEN LOST.

ERNST & YOUNG

Source: Ernst & Young data 2012

BBDOKNOWS BANKING PAST

PLEASE PLAY OLD BANK FILM

BBDO KNOWS BBDO CLIENT VIEW:

Global Head of Marketing Communication, BES PLEASE PLAY BES BANKING ROLE IN SOCIETY FILM

BANKING PAST BBDO KNOWS

Banks past were considered secure and careful and respected by the customer, equally they were considered facilitators, enablers and drivers of innovation that transformed peoples lives
THE RELATIONSHIP WAS BASED ON TRUST, THE BANK WAS CONSIDERED SECURE

THE EXPERIENCE WAS PHYSICALIN BRANCH, IN PERSON

THE SERVICE FELT PERSONAL AND CUSTOMISED

THE DYNAMIC WAS IN FAVOUR OF THE BANK, THE BANK WAS REVERED

PAST

THE PERSONA OF THE BANK WAS PRIVATE

THE IMAGE OF THE BANK WAS POSITIVE

IN PERSON

TRUST

PERSONAL

REVERED

PRIVATE

POSITIVE

The banking relationship in the past was in person, personal and positive THE PERCEPTION WAS THAT BANKS PROVIDED A VITAL SERVICE TO THE ECONOMY AND TO THEIR CUSTOMERS

BBDOKNOWS

CHALLENGE: RECLAIM ROLE AS FACILITATORS AND INNOVATORS

Source: Statistic Brain

BBDOKNOWS THE CUSTOMER

BBDOKNOWS

VAST MAJORITY OF CUSTOMERS ARE WILLING TO OFFER BANKS MORE INFORMATION IF IT LEADS TO A MORE PERSONALISED SERVICE
Source: Ernst & Young data 2012

BBDOKNOWS
THE DIFFERENCE NOW IS THE DECLINE OF THE OLD-FASHIONED BANK MANAGER WHO WAS KNOWN TO EVERYONE. MY BIG MAXIM WAS KNOW YOUR CUSTOMER THE BANK MANAGER WOULD KNOW THE FAMILY FINANCIAL BACKGROUND. HE HAD A COMPLETE SNAPSHOT OF YOUR FINANCES
- Mr Capon, Former Assistant Bank Manager UK

Source: BBC News Magazine

BANKING PRESENT BBDO KNOWS

THE EXPERIENCE WAS PHYSICALIN BRANCH, IN PERSON THE RELATIONSHIP WAS BASED ON TRUST, THE BANK WAS CONSIDERED SECURE THE SERVICE FELT PERSONAL AND CUSTOMISED THE DYNAMIC WAS IN FAVOUR OF THE BANK, THE BANK WAS REVERED

PAST

THE PERSONA OF THE BANK WAS PRIVATE

THE IMAGE OF THE BANK WAS POSITIVE

IN PERSON VIRTUAL

TRUST

PERSONAL

REVERED

PRIVATE

POSITIVE NEGATIVE

MISTRUST IMPERSONAL CHALLENGED PUBLIC

THE RELATIONSHIP IS BASED ON MISTRUST, AND BLAME. THE BANK IS SEEN AS GREEDY THE SERVICE FEELS IMPERSONAL, MASS MARKET AND ONE SIZE FITS ALL THE DYNAMIC IS ARGUABLY IN FAVOUR OF THE PERSONA OF THE BANK IS THE PUBLIC CUSTOMER, THE BANK IS CHALLENGED

PRESENT

THE EXPERIENCE IS VIRTUALIN BRANCH, IN PERSON

THE IMAGE OF THE BANK IS NEGATIVE

The banking relationship today is often distant and can be perceived as impersonal and negative

THE DNA OF BANKING BBDO KNOWS

THE EXPERIENCE WAS PHYSICALIN BRANCH, IN PERSON THE RELATIONSHIP WAS BASED ON TRUST, THE BANK WAS CONSIDERED SECURE THE SERVICE FELT PERSONAL AND CUSTOMISED THE DYNAMIC WAS IN FAVOUR OF THE BANK, THE BANK WAS REVERED

PAST

THE PERSONA OF THE BANK WAS PRIVATE

THE IMAGE OF THE BANK WAS POSITIVE

IN PERSON VIRTUAL

TRUST MISTRUST
THE RELATIONSHIP IS BASED ON MISTRUST, AND BLAME. THE BANK IS SEEN AS GREEDY

PERSONAL

REVERED

PRIVATE

POSITIVE NEGATIVE

IMPERSONAL CHALLENGED PUBLIC

THE SERVICE FEELS IMPERSONAL, MASS MARKET AND ONE SIZE FITS ALL THE DYNAMIC IS ARGUABLY IN FAVOUR OF THE PERSONA OF THE BANK IS THE PUBLIC CUSTOMER, THE BANK IS CHALLENGED

PRESENT

THE EXPERIENCE IS VIRTUALIN BRANCH, IN PERSON

THE IMAGE OF THE BANK IS NEGATIVE

The challenge is to recapture the personal aspect of the service, the personal approach led to a positive perception

BBDOKNOWS
IN 1970 THERE WERE ABOUT

20,000
BANK BRANCHES

TODAY
THERE ARE HALF THAT
NUMBER FOR FIVE TIMES

AS MANY CUSTOMERS
IT IS IMPOSSIBLE FOR GENUINE

FOR 10M
CUSTOMERS

PERSONAL CONTACT TO PLAY ANY ROLE IN THE DELIVERY OF

BANK SERVICES

Source: The Financial Times, UK only

BBDOKNOWS

IT IS IMPOSSIBLE FOR GENUINE PERSONAL CONTACT TO PLAY ANY ROLE IN THE DELIVERY OF BANK SERVICES
THE FINANCIAL TIMES

BBDOKNOWS

IN 1990 WE
INTERACTED
WITH OUR BANK ON AVERAGE

TODAY
WE INTERACT
WITH OUR BANK

A MONTH

9 TIMES 30 TIMES
A MONTH

Source: The Financial Times and Corporate Executive Board

BBDOKNOWS

WE BELIEVE THIS INCREASED INTERACTION IS AN OPPORTUNITY TO: PUT THE PERSONAL BACK INTO BANKING
Source: Statistic Brain

BBDOKNOWS BROAD CHALLENGES:

IMAGE CHANGE THE CONVERSATION PRODUCT REMIND PEOPLE OF THE ROLE BANKS CAN PLAY IN ENHANCING THEIR LIVES RELATIONSHIP UNCOVER WHAT PERSONAL MEANS TODAY