Банкеръ Weekly



RETAIL BANKING HAS RAISED THE DEGREES ON THE ADS MARKETThe finance group DZI-ROSEXIMBANK is the leader of investments in ads for the first eight months of the year, the agency for market and social research Marketing. Media. Analyses. has established. According to calculations, the group headed by Emil Kyulev spent a total of BGN1,447,000 during that period for the promotion of its products by six TV channels: Bulgarian National Television (BNT), bTV, Nova Television, 7 Days, the cable TVs S MAT and Eurocom, as well as by 64 newspapers and magazines, monitored by the agency. DZI-ROSEXIMBANK is followed by First Investment Bank (FIB) - with investments of BGN1,220,000 and EIBANK (managed by Tsvetelina Borislavova) - with BGN529,000. It's curious that EIBANK advertised in the press only. The data of Marketing. Media. Analyses. show that the advertising budgets of most of the banks will be record high in 2003. Credit institutions poured a total of BGN7,126,750 in electronic mass media and the press by end-August. The amount for the entire 2002 was BGN7,850,000, almost double from the previous year. Although the New Year is still distant, it can be already seen that 2004 will be the first year whenthe tone of bank adswill leave their traditional reserve and conservatism. FIB's Choose carefully advertising campaign and the presentation of Biochim's consumer credits without guarantors under the slogan Going like hot cakes, signaled that in their battle for clients the banks are ready to overstep the limits, drawn so far. For quite a long time now FIB has not been missing the opportunity to come up boldly on the stage. Let's recall the message it was using in the end 1990s: Excuse us for our success. The bank's most recent advertising message sounds almost the same way: People with elephantine salaries need elephantine credits.The only explanationof the more agressive advertising style of banks is their pursuit of more new clients. Since last year FIB laid the basis of a new advertising philosophy, Desislava Dimova, Manager of the credit institution's Advertising department commented. If since 1999 when the bank held its first overall ads campaign, the accent was more on the communication with firms and corporate clients, today we already turn our attention to natural persons. For achieving these purposes the first important thing was to get very well acquainted with the characteristics of the audience we aim at. After long preliminary research we chose as our first message the slogan FIB - a matter of choice, seeking communication with young, active town people, with requirements to their bank. Our second task was to pick the media, through which to address them. Relying on the excellent knowledge of their way of life, we chose those channels for communication which our audience regards as an integral part of its everyday life, Ms. Dimova explained. This is how they think in banks, but the strategy of advertising intermediaries is quite different. They want to get larger commissions from those media which are ready to pay them. This is often their decisive motive when choosing the media to advertise. And as the bank managers are too busy, they always lack time to understand the essence of that ptoblem. The number of financial institutions that require more precise characteristics about their real and potential clients is constantly rising, Miroslava Georgieva, Director of the Research department at the agency for market strategy GFK says. In order to be useful to a bank, the respective financial institution should be well acquainted with its positions on the market, have a clear idea about what it needs and what it expects from us - improvement of its overall image or increase of its audience for individual products and services.Judging from the research of Marketing. Media. Analyses. in 2003 the banks will maintain the trend of advertising mainly their creditsIn 2002 - the year for which the agency has full and summerized observations - out of twelve bank services, advertised in the press, with a total budget of BGN3,688,000, BGN1,488,000 was spent on campaigns, presentimg one or another loan (more than 40%).DSK Bank was the financial institution that advertised in the press the greatest number of options for crediting. It held six ads campaign, worth a total of BGN314,982. It was followed by United Bulgarian Bank (UBB) - with BGN244,774 invested in the advertising of its credits in the press, Bulgarian-Amercian Credit Bank (BACB) - with BGN234,791, ProCredit Bank - with BGN224,027, and Bulgarian Post Bank - with BGN164,800.Deposits were the second bank product, most advertised in the press last year. Banks spent for announcing them about a quarter of their budgets, earmarked for advertising in newpapers and magazines.Advertising of debit cards comes next with BGN3,688,000 spent for the purpose. Bulgarians choose a bankmainly because of its good reputation, a poll of the market research agency Market Test shows. At that, reputation is the most important factor for both the more affluent citizens and for the families whose monthly income is up to BGN400. According to the same agency, DSK Bank enjoyed the highest repute in 2002. 9.1% of the almost 4,000,000 citizens living in Bulgarian towns, pointed it as the preferred state-run financial institution. UBB is second with 3.44% (according to Bulgarians' trust in it), and SG EXPRESSBANK is third with 1.41 per cent. The list of the first ten most trusted banks inludes also: BULBANK, Bulgarian Post Bank, FIB, Biochim, Municipal Bank and Raiffeisenbank. For promotion of the nameor for the so-called image advertising in the press, financial institutions invested a total of BGN1,765,000 in 2002. FIB was the most active one in that respect. According to the calculations of Market Test, it invested almost BGN220,000 for the purpose. FIB is followed by HVB Bulgaria, which merged into Biochim in the end of 2002, and Bulgarian Post Bank. In the final reckoning, some banks languish and others flourish, thanks to ads perhaps. We may also live to see the day when an extended credit will be accompanied by something more than a pay-free debit card or Life insurance. I.e. the banks to begin advertising following the scheme: pay for one and get two! The same way as 2 kg of washing powder can be now had at the price of one kilo. Sounds like a joke, but it may come true. Who knows?RATING FOR 2003 - INVESTMENTS IN THE PRESS AND TELEVISION (in BGN) 1. DZI-ROSEXIMBANK - 1,447,000 (1,199,000 - DZI, 247,000 - ROSEXIMBANK)2. First Investment Bank - 1,220,0003. EIBANK - 529,0004. Central Cooperative Bank - 503,0005. United Bulgarian Bank - 460,000

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