At the time when all the major Banks are trying to build their brand using rational advertising, Standard Chartered has chosen the emotional path to build their corporate image using the 'Hoga Hoga' campaign. After the merger of Grindlays with Standard Chartered globally, the bank has adopted the philosophy of 'If you believe in something, we believe in you'.
Says Akshay Kumar, head of Marketing and E - Commerce, Standard Chartered Group, Consumer Banking, "After the merger we have tried to incorporate certain values to the brand which we call as 'CRICT', which stands for Courageous, Responsive, International, Creative and Trust Worthy. We decided to build the overall Brand Image of the company in India and also to spread the global Brand proposition of 'If you believe in something, we believe in you'. But, we didn’t want to use the same slogan, instead wanted to give an Indian touch. 'Hoga Hoga' defines our global brand pro]position most appropriately."
This three-month campaign by HTA, featuring 7 different executions, was kicked off on June 24. All commercials revolve around a dream and a belief to fulfill the dream where the person says 'Hoga Hoga'. Says Tarun Rai, Senior Vice president and GM, HTA, " The challenge was to strike a balance between international and local communication strategy. We tried to adapt the global idea to the Indian context by using local idiom for the global philosophy. Another objective of the creative was to convey the message that Standard Chartered bank understands its customers. This idea could have been best delivered using emotional platform rather than using rational platform. In my opinion, the ‘Hoga Hoga’ creative is brilliant.
Adds Rai, “Hoga Hoga has become the verbal currency for the brand as we have other verbal currencies like Yeh Dil Maange More for Pepsi, or Thanda matlab Coca Cola. The Verbal Currency helps considerably in top of the mind brand recall. People used in the creative are common and credible people with whom we can easily associate ourselves."
Standard Chartered bank's last year ad spends was close to only 10cr but this year there has been a quantum jump in the overall spends. According to company sources, 90% of the total spends have been used on Television and the rest 10% is being used for outdoor and radio. Rationales Kumar, "Earlier we used to advertise only our credit cards and some other facilities for which we used to use the Print medium. After around 7 years, we have decided to have a corporate campaign. The best medium which we thought could have delivered was Television and therefore we backed it by pumping major part of our ad spends."
The Hoga Hoga Campaign is only visible either on TV or on hoardings, the Print medium is not being included. When asked about the reasons for not using print medium, Akshay says, "Print is also being used but not for the corporate campaign but to advertise our products. We have used 'I Believe' in all the press ads, which gels with our corporate campaign of 'Hoga Hoga' and also the global philosophy of 'if you believe in something, we believe in you'.
The company is quite positive about the campaign and hopes to achieve its underlined objectives. Talking about the objectives, Akshay Kumar outlines, "There are four core objectives which the company wants to achieve through this campaign. First, building overall brand image, second, to associate certain values with the brand, which we call as CRICT - courageous, responsive, international, creative and trust worthy; third, is to make the logo more contemporary using lighter shades of colour, because the logo was earlier mistaken as an '&' symbol; and fourth, we want to develop a consumer insight that we are the right partner for them."