Global Trust Bank

Business:
Banking
Task:
Grow deposits by 25 Billion Uganda Shillings.
Year:
2013 (6 Months Campaign)

 The Decision Process

Global Trust Bank, a commercial bank in Uganda started operations in 2008, 45.3% of it owned by Nigeria’s largest insurance company – Industrial and General Insurance. The bank offered a full range of banking services and was an approved collection agent for state and private essential service providers, including the Uganda Revenue Authority (tax payments), NWSC, the National Social Security Fund (pension payments), key educational institutions and telecom companies; for which the bank supported mobile-payment options. But while mobile-payment systems were great, they were hardly personal. GTB’s brilliant philosophy and the friendly customer service weren’t exactly translating to customers. GTB needed a liaison between its operational side and the Ugandan market. That’s when we came in.

The Banking Business

GTB was a young and dynamic bank, attaining milestones at a remarkable pace. The bank translated into a profitable financial service provider in barely three years of operations with total assets of around €28.1 million (US$35.1 million) and shareholders’ equity of around €16.7 million (US$21 million). Nevertheless, commercial banks have in the recent past struggled to obtain deposits from the Ugandan market after the country’s inflation spiked to a 30.4% mark in 2011 (the highest since 1993) that led to high costs of doing business. As a result, the cost of funding by commercial banks went up after the central bank raised its policy interest rates to curb inflation.

The Need for a Solution

As a mid-size bank with a modest marketing budget, finding a meaningful point of communication and consistently communicating it was a critical goal in helping GTB stand out and engage its target audience within a marketplace cluttered with big bank advertising. GTB had to find a solution aimed at attracting more deposits in order for it to do profitable business.

The Implementation

The bank’s strengths were mainly its consumer and business banking services. The unique ability to meet all its customers’ financial needs separated it from its retail bank competition. This insight led to helping the bank embrace a leadership position by articulating a dominant selling idea: a promotion that rewards all their customers who deposit high sums.
From this position, BrandVision™ was tasked with creating a deposit and win campaign that would guarantee the bank a minimum of 25,000,000,000UGX in deposits.

The Solution in Action

Creating awareness of an idea alone, without the benefit of helping customers reach the consideration stage, drive a purchase, or have a direct customer experience is likely to have a short life-span before awareness levels drop back to previous levels.
After market research and a number of brainstorms by BrandVision™, the phrase “Poyessa” was created which would later be used as the campaign phrase! POA is a Swahili word for “Relax”, “Be fine” and/or “Take it easy”. The rationale in this case was: deposit and relax as you make money—Poyessa as you make money.
The uniqueness in the definition of the campaign was carefully reflected in the nature of the campaigns:  print ads, a jingle, a launch event, giveaways and a grand draw. ‘Everyone is a winner’ was a motivating message making it a broader target campaign involving people of various ages and disciplines but centric to customers with deposit power (amounts) through the nature of giveaways.

The Results

Poyessa was a highly successful campaign educating customers and referring them to the nearest GTB branch. Global Trust Bank expanded its presence in Uganda’s commercial cities and established a dedicated focus in the rural areas requiring financial access. These include Kikuubo, Nateete, Bwaise, Mukono, Nkozi, Mbarara, Mbale, Butaleja, Pallisa, Malaba and Paidha. For 2012/2013, GTB was the only commercial bank with that kind of focus. 31,985,900,000UGX was collected in deposits which surpassed the clients target in the first 4months. The receptiveness and responsiveness of Poyessa of the public was a confirmation of the agency’s vision of a Global Bank with a local relevance.
We later launched TUBADILISHE a campaign that was targeting business accounts!