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Francis Peene on bnp-paribas-fortis Rebranding Case
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Francis Peene on bnp-paribas-fortis Rebranding Case

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Francis Peene on bnp-paribas-fortis Rebranding Case Presentation Transcript

  • 1. BNP Paribas Fortis : 1 year later Case study: Rebranding of brands Francis Peene June 9, 2010
  • 2. The difficult and uncertain period 2008 2009 Sept Oct Nov Dec Jan Feb Mar Apr May 27 28 4 5 20 Top meeting weekends 05/10: 1st agreement on take- over by BNP Paribas and dismantling Fortis Uncertainty •Fortis juridical arrests and appeals •Turbulent shareholders meetings Take-over by BNP Paribas is official •BNP Paribas buys 74.93% of Fortis Bank Belgium and 16% of BGL, in exchange for BNP Paribas shares •Fortis Bank buys 25% + 1 share of AG Insurance (Fortis Insurance Belgium), pays cash 2
  • 3. Who is BNP Paribas? 83 countries 202.300 employees 13 Mio. clients Strong Ratings: European Leader Standard & Poor’s (AA+) and Fitch Rating (AA-) Nominated by Global Top 10 banks Finance magazine : worldwide “1 of the safest banks in the world” Retail Banking Asset MGT & Private Bk, Corporate & Investment Bk & Insurance 3
  • 4. The brands BNP Paribas and BNP Paribas Fortis Origin of the brand BNP Paribas Reassure Weak Strong Seduce Strong Weak Reputation • Capital Markets UK/US • Retail Frankrijk • Private Banking / Asset • Retail Afrika Management Europe • Corporate Banking 4
  • 5. The brands BNP Paribas and BNP Paribas Fortis The brand BNP Paribas 5
  • 6. The brands BNP Paribas and BNP Paribas Fortis Group’s Brand Architecture 6
  • 7. The brands BNP Paribas and BNP Paribas Fortis One of the best known international banks in our retail markets What are all the foreign banks and financial institutions you know of, even if only by name? (14 key markets for BNP Paribas, mainly in Europe) Number of countries in which the bank is mentioned spontaneously in the top 3 of foreign banks (by retail customers) … 1 …Deutsche Bank was mentioned 6 times 1 …BNP Paribas was mentioned 6 times 3 …Citibank was mentioned 5 times 3 …Société Générale was mentioned 5 times 5 …Barclays was mentioned 4 times 6 …HSBC was mentioned 3 times 6 …Raiffensen Bank was mentioned 3 times 8 …ING was mentioned 2 times 9 …Santander was mentioned once 7
  • 8. The brands BNP Paribas and BNP Paribas Fortis BNP Paribas brand identity Creativity Human/responsible Values Ambition Anti-conformist Attitude Commitment Optimistic/positive Responsiveness Open-minded Not herd instinct The bank for a changing world Born in Paris Committed in 2000 Doesn’t talk like Hybrid merchant bank other banks Heritage + retail banking Behavior A global company Global perspective early in its history but sensitive to local 8
  • 9. The brands BNP Paribas and BNP Paribas Fortis Market research, key in supporting choice for new brand name 2008 2009 Sept Oct Nov Dec Jan Feb Mar Apr May 5 8 30 Top meeting weekends 05/10: 1st agreement on take- over by BNP Paribas and dismantling Fortis First feedback from clients Uncertainty concerning the take-over by BNP •Fortis juridical arrests and appeals Paribas •Turbulent shareholders meetings Testing if hybrid brand works Take-over by BNP Paribas is official for Belgium •BNP Paribas buys 74.93% of Fortis Bank Belgium and 16% of BGL, in exchange for BNP Paribas shares •Fortis Bank buys 25% + 1 share of AG Insurance Decision new brand name (Fortis Insurance Belgium), pays cash 9
  • 10. The brands BNP Paribas and BNP Paribas Fortis Who is BNP Paribas Fortis? ± 30% Market Share 17.300 employees Shareholders: Strong credit ratings: BNP Paribas (74,93%) Standard & Poor’s (AA) Belgian State (25%) Fitch Rating (AA-) Other (0,07%) Moody’s (A1) 3,6 Mio. Retail clients Client Trust Challenge to regain client trust Market positions in Belgium: n°1 deposits n°1 consumer credits Leader in Private Banking 10
  • 11. The brands BNP Paribas and BNP Paribas Fortis Introduction of the brand BNP Paribas Fortis Weakness Crisis Foreign Bank 1st bank in Belgium Strength Solidity (bank-insurance) 11
  • 12. Introduction of the brand BNP Paribas Fortis A hybrid brand with the best of : + = 12
  • 13. The brands BNP Paribas and BNP Paribas Fortis Testing if hybrid brand works for Belgium The ‘BNP Paribas’ brand obtains higher ratings than ‘Fortis bank’ on ‘A bank offering trust’ and ‘can survive the financial crisis’ and ‘A bank for everyone’. The co-branding also scores better than Fortis Bank on the last two elements. A B C Fortis Bank BNP Paribas (Fortis) (BNP Paribas) (n=300) (n=300) (n=401) Can survive the financial 20 2.3 29 A 2.7 26 A 2.6 crisis A bank offering 21 2.5 27 2.8 22 2.6 perspectives A bank offering trust 24 2.5 32 A 2.8 29 2.6 Handles in the interest of 26 2.6 30 2.8 26 2.7 its customers No unnecessary risks to 2.1 2.5 14 16 17 2.3 gain more profit A bank for everyone 44 3.2 52 3.4 52 3.4 A A A bank for prosperous 27 2.8 25 2.8 27 2.8 citizens A humane bank 32 2.8 31 2.9 31 2.9 0 10 20 30 40 50 60 0 10 20 30 40 50 60 0 10 20 30 40 50 60 Base: Total rep sample (n=1001) Green: significant difference (95% CL); White: directional difference (90% CL) in % top 2 13
  • 14. Evolution of the communication The new green arrives… 14
  • 15. Evolution of the communication Before… 15
  • 16. Evolution of the communication Brochures and folders Retail 16
  • 17. Evolution of the communication The Private Bank universe Private 17
  • 18. Evolution of the communication First Results: Spontaneous use of brand name 100% 80% 61% 58% 64% 60% 40% 18% 19% 19% 20% 20% 24% 17% 0% Totaal Klant Geen klant Study conducted October 2009 18
  • 19. We asked our customers what they expect from an ideal bank The ideal bank for our clients Competent staff, knowing Transparent products their products very well Knowing what you get Not commercially pushy, not Safe and guaranteed only going for bonuses Core values: Clearly -Transparency knowing/understanding the Topmanagement honest and risks truly engaged - Honesty - No nonsense New products, innovations Client service, no hard-selling - Competence - Acting A person of confidence, - Real client- and Stability of the staff Open, informative, service oriented transparent and respectful Active, with initiative communication (not only talking) Honest and competent Checked and advised by topmanagement, long term external, neutral finance Controlled by the state, thinking specialists with guarantees 19
  • 20. We asked our employees what they expect from an ideal bank The ideal bank for our employees A bank that listens to his Simple products, not too customers complex Core values: A bank wanting to build long Transparent on conditions term relationships with his and risks customers -Real client and service oriented Client service, no hard-selling -Transparancy -Honesty Good advise and offering -Ethical/social Open, informative, solutions transparent and respectful communication Putting the interest of the clients before the interest of the bank Be there for the client and be accessible (banking at a Good price/quality Ethical and social distance, flexible opening hours) 20
  • 21. Based on this feedback we defined 5 promises 21
  • 22. Evolution of the communication 1ste External BNP Paribas Fortis campaign: “1 miljard euro” 1ste big campaign was not a corporate campaign, but a proof of our promise to be a partner Anticipates on the Credit Crunch 22
  • 23. Icons to give clear information 23
  • 24. Evolution of the communication New external campaign “Accessibility” 24
  • 25. Evolution of the communication New external campaignes “Listening” & “Batibouw” 25
  • 26. Thank you!