State Bank Of Mauritius

The Challenge

SBM is the second largest commercial bank in Mauritius with the State as its main shareholder. Following a brand audit that concluded that SBM needed to “reconnect with its consumers and the public” we had to come up with a strategy that would help the brand create new connections, maintain, and grow the eroded or lost connections with its audiences (clients and prospects). Since audiences are constantly changing, it was vital to (a) precisely identify SBM’s various audiences and (b) choose the right tools and channels that would help us reconnect, stay connected, keep up and adapt to stay relevant.

Our Solution

We opted for a long term – one year – strategy that moved away from traditional advertising in above the line media to popularize instead SBM’s products and services during existing TV and radio shows specialized in business and finance. The whole operation was backed by regular road shows and activations essentially in malls to get closer to clients and prospects.

“Business Connect” aired once a week just after the main evening news bulletin on MBC TV 1, the most popular local TV channel, was the most obvious choice to air themed videos on a wide variety of banking and finance related subjects (from SMEs to Modern Methods of Payment, Credit Cards or Cyber Security). We shot short down-to-earth informative videos during which SBM’s officials would appeare more as caring experts in the subject being treated than promoters of SBM’s products or services that were treated however in details in special video advertorials aired alternately on the same channel at the same time. This subtle “product placement” initiative rapidly gained momentum and helped to reposition gradually SBM as an innovative and caring commercial bank in the minds of viewers who could also listen almost simultaneously to similar productions on radio – short (one-minute) informative capsules aired during morning prime time on Best FM, a very popular Hindi language entertainment radio station.

Produced in plain English that avoided too many technical terms, the one-minute radio shows managed to bring SBM even closer to specific targets and consolidate the bank as “the caring bank” whose ultimate objective was the satisfaction of customers.

Road shows were held in malls around the island during the month of December: entitled “SBM Amigos Santa Tour” and aired live on Kool FM, a radio station with a young audience, the Tour’s objective was to promote “ Amigos”, a saving’s account for children.

 

The results

Over time, it was easier for SBM to understand customer experience and the customer journey in a world where customers interact with companies through a myriad of touch points in multiple channels and media. The changes that occurred triggered SBM to build better and longer lasting relationships by wrapping its information systems and processes around customer journeys that significantly improved client perception and satisfaction.