COVER STORY; Cute, likeable, grunty

AdMedia,  Apr 19, 2006  

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The traditional Bank of NZ focus on a tight market segment was constraining growth, says Y&R ceo Jon Ramage, sharing insights that drive the most significant new campaign for a NZ bank since ASB's Goldstein.

Pig Tales, says Ramage, was purposely designed to have mass appeal across multiple segments, with the media selection and product offers varying to meet the individual needs of different customers.

This change of target is very brave, he says. "It's a big departure for BNZ.

"All banks offer the same stuff, the same way. It's bloody hard to stand out and the benchmark has been set high by Goldstein.

"To be different, you've first got to stand out and say stuff no one else is saying, in a way that captures the hearts of existing and potential customers. And the delivery's got to match the claim - you can't use advertising as a faade for poor service or products.

"And if you've got it - Best Branch Service, Best Call Centre, Best Home Loan Rates - then flaunt it.

"There's a sweet spot when the brand is both delivering to its customers and is highly liked - that's the objective of Pig Tales.

"There's a direct link between brand preference and bank performance. Consumers never go to just one bank when they're looking for a home loan or other products. So you've got to be really well liked to get on their shopping list.

"Likeability was an absolute driver for us, and consumers tell us from all the tests and feedback so far that this is where Pig Tales scores highest.

"Value is the key - it's about customers' money after all. The glue that holds this campaign together is a genuine promise from BNZ to make them better off. So we need to talk about money, what happens to it, what the BNZ does to look after it better, what it means to customers."

BNZ and Y&R undertook three rounds of research to test the new positioning, which indicated the campaign was engaging and entertaining. "We're really feeling that this is the right time and the right approach for our bank," says BNZ's Shona Bishop.

The agency had six creative teams working on the brief. "The boardroom was covered in posters of ideas, drawings and concepts," says Ramage. "Then one of the teams tabled a script about piggy banks leaving home and migrating to a mythical resort. From there the idea evolved into a full campaign."

Pig Tales, he says, is no rebranding exercise. "With rebranding, people tend to think of an identity change - new logo and new colour palette. We talk about Pig Tales as a new brand campaign, which is about creating a much more engaging brand personality."

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