Turnaround Brand - Re-luanch of Hiflyer with a new Brand Name (Cool Cash)

IN YEAR 2002….

HI FLYER CAME IN TO THE MARKET

TARGETING THE URBAN YOUTH (THE AGE CATEGORY OF 18-25)

MAIN REASONS WHY WE BROUGHT IN THIS PRODUCT TO THE MARKET

• TO RETAIN TIKIRI ACCOUNTS BALANCES WHEN THEY REACH MATURITY

• TO INCRESE THE CUSTOMER LIFETIME VALUE OF SEYLAN BANK

BENEFITS TO THE BANK BY HAVING A YOUTH CUSTOMER BASE

• TO CROSS SELL

• TO INCREASE PUBLIC RELATIONS

• TO ENHANCE THE IMAGE OF THE BANK

HI FLYER COULD NOT ACHIEVE THE GOALS SET AT ITS

INCEPTION

THE ACCUMULATED DEPOSIT BASE FROM 2002 TO 2005(3 years) WAS RS 58 MIO AND NUMBER OF ACCOUNTS FOR HI FLYER WAS

4847

“THE PROCESS” OF REVITALIZING THE BRAND STARTED…

WE LOOKED AT THE COMPETITORS AND CARRIED

OUT A SWOT ANALYSIS

WE FOUND OUT THAT FEATURES OF HIFLYER WERE

SAME AS ITS COMPETITOR PRODUCTS IN THE MARKET

• HIGHER INTEREST RATE

• ATM CARD

• TRADITIONAL DRAW SCHEMES

What is a brand ?

A BRAND IS A PERSON’S GUT FEELING OF A

PRODUCT,SERVICE OR AN ORGANIZATION

IT’S A GUT FEELING BECAUSE PEOPLE ARE;

EMOTIONAL INTUITIVE BEINGS

There are so many savings accounts in the market. How do you decide which

one to open?

LEAP

Double SS

Jayasri

Kapruka

YES18 plus

Ranliya

Vanitha vasana

Pathum VmanaDana ayojana

Merit Rewards

“TRUST”

T=r +d Trust Reliability Delight

WE PLANNED ALL INTERNAL AND EXTERNAL MARKETING ACTIVITIES BASED ON THAT

EQUATION

4 DISCIPLINES

1. DIFFERENCIATE

2. INNOVATE

3. COLLABORATE

4. CULTIVATE

Brand Values

Brand Reflection

PODs

1. Differ enciate

Normally People are hardwired to notice only what's different

Core Product

Basic Product

Expected Product

Augmented product

Savings

Youth savings

Interest

Initial Deposit

High Interest

ATM CardATM Card

1. Giving exclusivity

to the expected

product by branding the ATM

card

2. Adding a

quarterly

draw scheme

to the

augmented

product by

Giving an

option to the

customer to

chose a

prize.

Draw Scheme

Loyalty Scheme

2. Adding a loyalty

scheme to the

potential product by

giving an additional

monetary benefit on

the customer’s

B’day.

2.COLLABORATE

Ranjini

Gurisinghe mahaththaya

Thilaka nona

Sanath

Lokka mahaththaya

Rohini

Matilda akka

Music

Lighting

Make up

Camera

Sound

Back ground music

Angle camera

Editing

Art director

Assistant art director

Script

Creative director

Filgflgsdgd

Vskgdvgfvlgf

Fvbkghv;lhb;lhdf

f/hgf;ih;lhf;lhf;lhfg

Fvlkfjfd

Gbjofojfjf

F:jf’ijfd’ijf

F:jf’jf

Fkf

Kf

Kjf;jf

Malani Fonsekai

Ravindra Randeniya

Anoja Weerasinghe

Fredi Silva

Gamini Fonseka

Sanoja Bibile

Ranjini dalukotuwea

Premasiri Kemadasa

Kumara rathnayake

Ani Perera

Sanjaya mendis

Techo Sounds

Sunil Edirisinghe

Uday De Zoysa

Priyantha Rathnayake

Ruwan Jayasooriya

Kamal Rajapakse

Udaya Kumara

Bandula Silva

Bjbv.bfb.bnf

Gfgfn;kjlgd;lkg

Ghk’gh;lkh;lkhg;lgh

Hf”klgh

‘lkhgg;kjf’kjgf

‘kghgh;jgl;g

‘khgfmg

G;jg;ljgljg

G;jf;jgng

Gjkg;’ljkg;lkjg

Tgkjlgkg’lg;l

Just think of making a film …. How many people got involved in it ???

• Collaborate

We dealt with a research company to find out customer expectations of a youth savings product and to identyfy a suitable logo.

Research was carried out at three geographical areas

COLOMBO (Urban) KURUNEGALA (Semi Urban) POLONNARUWA( Rural)

Worked with the advertising agency to develop

publicity materials/ execute proper scheduling

Dealt with Radio stations( Specially Y fm) /TV in order to have special youth programs .

Had a close relationship with the brand ambassador

“IRAJ”

3. INNOVATECREATIVITY IS WHAT GIVES COOL CASH

IT’S TRACTION IN BOTH EXTERNAL AND

INTERNAL MARKET PLACES.

We never tried to separate creativity from the strategies

Creativity Strategy

We never did strategic thinking like

A B C D

We did it as..

Z

X

V

T

WE ZIG

WHEN OTHERS

ZAG

CAME OUT WITH A STAND-OUT NAME AND GRAPHICS

Likeability

Distinctiveness

ProtectabilityEasy Spelling & Pronunciation

Brevity

CAME OUT WITH A STAND OUT NAME AND GRAPHICS

CAME OUT WITH A STAND OUT NAME AND GRAPHICS

CAME OUT WITH A STAND OUT NAME AND GRAPHICS

Distinctiveness Brevity

Easy Spelling & Pronunciation Likeability Protectability

Unfamiliar HI FLYER

New brand name

urban Rural

Familiar

INTERNAL AWARENESS CAMPAIGNS

• SURPRISED THE STAFF MEMBERS

• MADE STAFF MEMBERS TO KNOW (Awareness) OUTSTANDING ACCOUNT CANVASSERS

• SENT OUT CREATIVE EMAILS

On the first working day of year 2006 we decorated all lift corridors of all floors with gas filled balloons and kept a cool cash mug on the table of each staff member along with a cool cash leaflet . We executed same at all our branches too.

Staff members were surprised with what we have done and all red the leaflet since it was something new to them. That's how we created the initial awareness for cool cash among our staff members.

EXTERNAL AWARENESS CAMPAIGNS

• Emotional and Information based advertisements were executed.

We paid more attention on back ground colours/ music in order to get in to the mind-set of youth.

Emotional - MUSIC

Information-FACTUAL

4.CULTIVATE

• We always tried to make people to feel the character of the brand.

4.CULTIVATEBrand Is Like a Human Being ….. IF people could change their outer look without changing their values , Why a brand can do the same?

“IRAJ” played a major role in taking brand personality of “ Being Cool” to the target audience by endorsing / attending special radio/ Tv programs.

We also created the other brand personalities (Fun /Easy going/Sporty) of cool cash by sponsoring Musical Shows and some sports events.

Reliability+ Delight

Internal External

1. Staff get an Incentive by canvassing Cool Cash accounts (D)

2. They get an incentive on an on going basis (R)

1. Additional Monetary Benefit (D)

2. Get Birthday cash as long as he/she maintains the account (R)

PUSH PU

LL

competitors

Customer

SituationAnalysis

MarketingStrategies

Market Development

Product Differentiation

Implementation of MarketingStrategies

CommunicationStrategies

Implementation of Communication Mix

Customer Service

Internal Marketing

SatisfiedEmployee

DELIGHTING THE CUSTOMER

THIS IS WHAT WE SAY ABOUT THE

PRODUCT….

IT should Not be What we Say….

IT should be what they say …………

PERFORMANCE (Deposit Base)

56,685,00029,248,025

38,584,920

247,000,000

356,000,000

0

50,000,000

100,000,000

150,000,000

200,000,000

250,000,000

300,000,000

350,000,000

400,000,000

2003 2004 2005 2006 2007

46%

335%

31%

HI Flyer

CO

OL

CA

SH

PERFORMANCE (Number of Accounts)

4793

32500

18890

2613 3345

0

5000

10000

15000

20000

25000

30000

35000

2003 2004 2005 2006 2007

28% 43%

293%

HI Flyer

COO

L CASH

THANK YOU