Bank marketing Raiffeisenbank is targeting the needs of urban customers with a new campaign. To this end, it is using TV and cinema spots realized by Pucci Sulzer.Swiss people are polygamous - when it comes to their banks. On average, every Swiss person has 1.7 banking relationships. In recent years, more and more Swiss people have entered into a partnership with Raiffeisenbank. "In large part thanks to our services and our credibility," says Thomas Gmünder, Head of Advertising at the Swiss Association of Raiffeisen Banks (SVRB). On the other hand, the competitors "certainly didn't prevent this trend", adds Gmünder mischievously. The customer base of the Raiffeisen banks grew by a whopping 35 percent between 1998 and 2002. Even more impressive is the increase in the number of members over the past four years: up 44 percent. Around 1.1 million Swiss are now also co-owners of one of the approximately 480 independently and cooperatively organized financial institutions. As a result, the balance sheet total of the banking association has increased by almost 40 percent (see box).
High sympathy ratings
Image studies also paint a positive picture of the Raiffeisen banks. For example, Reader's Digest's consumer study "European Trusted Brands" named Raiffeisen the most trustworthy financial institution among domestic brands - far ahead of the cantonal banks and the financial groups UBS and CS Group.
It is equally unsurprising that small banks have the highest recommendation rate in the sector. No other bank benefited as much as the Raiffeisen Group from the loss of trust and customers among the big banks, i.e. from the counter-trend towards globalization. Gmünder attributes this effect to the institution's strong and good brand, which, in contrast to the heterogeneous local and cantonal banks, has a uniform, recognizable profile and has done so for years. "Of course, images and statements are adapted to the spirit of the times and modernized," admits the advertising manager. "But the basic idea of what the brand stands for remains."
History as a brand bonus
Raiffeisen's USP, customer proximity, is not only guaranteed by its nationwide network of bank branches. It gains its credibility through the traditional, down-to-earth social position that the financial institution has always held, especially in rural areas. The great brand advantage of the solid, conservative bank is primarily due to the history of the institution and the high moral standards of its founder Friedrich Wilhelm Raiffeisen. The fact that the rustic image still persists today is partly due to the fact that the Raiffeisen Group only had a uniform advertising presence developed throughout Switzerland at the beginning of the 1990s. And it was to take another few years before the Group ventured into the medium of TV with the launch of the "Wir machen den Weg frei" campaign in 1998.
However, the successful expansion into urban areas has broadened the range of needs of Raiffeisen customers. In addition to the previous core competence in savings and mortgages, which was also at the forefront of communications, the more advice-intensive investment and pension areas have been added. And it was precisely in these areas that the communication managers identified a shortcoming. This image problem now needed to be addressed, especially with potential new customers and members.
Reliable partner
In collaboration with those responsible for communication at the SVRB, the Zurich agency Pucci Sulzer developed a strategy and concept to further develop the brand promise, which has been successful since 1998, in order to anchor Raiffeisen in the target group as a financial company with a strong advisory service for retail customers. "We not only show, as before, that Raiffeisenbank clears the way, but also how it does this in an emotional way," says CD Däni Sulzer. "Namely as a reliable partner that stands by you at all stages of your life and helps you when it comes to money matters," adds Gmünder.
The creative team used this concept to create one cinema and three TV commercials in which short episodes from the lives of fat friends Tim and Marc symbolize the personal relationship that Raiffeisen banks maintain with their customers. "With the commercials by Icelandic director Agust Baldursson and the accompanying advertisements and posters, we want to focus on customer proximity and position Raiffeisen as a partner for complex financial matters such as home financing, investments and pensions," explains advisor Frank Mitteldorf. The new image also gives an idea of the path the regional banking group is about to take: from an almost unchecked rise to consolidation.
Raiffeisen is the third largest Swiss bankWith 1,300 branches, Raiffeisen banks are represented throughout the country. According to the bank, it is not just geographical proximity, but "pronounced customer proximity" that means that around two million Swiss residents are customers of a Raiffeisen bank. Over 1.1 million people can also consider themselves co-owners of one of the 480 Raiffeisen banks as cooperative members. On June 30, the association of all these institutions had total assets of 93.3 billion Swiss francs and managed 72.4 billion Swiss francs in customer assets, putting it in third place in the Swiss banking market. In the traditional customer deposits segment (savings deposits, medium-term notes), the cooperative banks hold a market share of 17 percent. Almost every fourth mortgage loan in Switzerland originates from a Raiffeisen bank, resulting in a mortgage total of 71.2 billion Swiss francs and corresponding to a 13 percent share of the Swiss mortgage market volume. (la)
Raiffeisen banks and their customers are like good friends and stick together for a lifetime.
Luca Aloisi