Laugh, click and bank: Decoding Federal Bank’s marketing strategies

Federal Bank has hit the market with everything from funny ads to bank accounts via selfie. Federal Bank’s comeback campaign is hoping to move the needle from a strong regional play to a larger footprint.
  • The task of the five film campaign was to position Federal Bank as a new-age bank amongst a younger audience and reflect the brand’s positioning ‘why settle for less’.
  • They wanted every film to have a certain look and feel to stand out in the sea of ‘bank advertising’, and also help create an overall personality.
  • To amplify the buzz, the bank recently carried out an extensive BTL campaign via Mumbai’s dabbawalas.
  • One product is the selfie account which lets the customer click a photo to start an account instead of visiting the branch and filling up physical forms.
  • Today with demonetisation and the push for digital banking, Selfie has become a very contemporary product in the banking space as well.
Bank advertising is cluttered both in terms of players and products. Financial services offerings are perceived as complicated and standard across brands. In such a scenario, it becomes the responsibility of advertising and marketing to demystify the category. While the campaign has used humour well, it is uncertain if it will provide the desired results as it is falling short of telling the audience why they should change their bank or look at the products, anew.
Source: http://bit.ly/2wEkXbh

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