Every brand should make enemies 2: Sleeping with the enemy
Further to yesterday’s post on the difference between me-too brands and real alternatives, Michael Gregg reminded me of one campaign where being an alternative is an overt strategy. Rabobank arrived in NZ some years ago focused on rural banking, as a way into the wider NZ banking market. Most banks would simply do full-range banking offers and me-too campaigns. Rabobank entered the retail market with a cunning twist: Rabobank doesn’t want your daily banking; it wants your online savings account. The brand personality is “your significant other bank”, with witty ads suggesting an extramarital affair. The strategy worked brilliantly, enabling Rabobank to quickly capture a significant share of cash savings without the high cost of a branch network.
Disclosure: I’m chairman of Click Suite, which played a major role in designing and building Rabobank’s online banking offer and promotional campaigns.
Trackback uri
October 18th, 2009 at 1:17 pm
What also worked in Rabobank’s favour was the strength of their financial position. To be able to play both hands of safety and second choice offered a compelling proposition. Additionally, they have been clever with tactical online campaigns for RaboPlus such as $100 incentives to start up a savings account. Who wouldn’t want to take that up?!