9 days to go in the Targo Bank Contest

In the choppy waters of current banking business, the Targobank needs to make its new brand identity popular and leave a mark in public perception.

And who could they better turn to for ideas than the jovoto community? The contest asks for “creative goals for the communication of Targobank, which will strengthen and improve its market position” – an interesting challenge, given the afore mentioned choppy waters…

by nOr

Next to the somewhat intrinsic challenges, there are some specifics in regard to Targobank’s brand identity. Naturally, having a new brand identity only since February 2010 after the merger of Citibank Germany with the Credit Mutuel Group, does not make it easier to increase consumer trust and awareness of the bank’s offers and benefits.

Making the new brand identity popular is thus one of the major goals of Targobank’s communication strategy. Targobank’s logo has to be recognized and associated with the right services and values at once!

Interesting insight in the specifics of advertisements for banks gives a study by Steven Hanson: “In the past, studies of bank advertising have focused primarily on advertising as a method for achieving a particular marketing strategy. For example, a traditional advertising campaign may promote the services, products, cost savings, or investment returns available at a particular bank. In addition, bank advertising may emphasize the financial image of the bank.

In contrast to the usual explanations of why banks advertise, this study finds that a major reason banks advertise is to establish a positive relationship with their customers.”

This point is exactly what we need to focus on in this contest: find ways to promote Targobank’s services, but also give them a public appearance, make their brand identity understood and incorporated.

Here are some links for inspiration:

How should banks advertise in a recession? on CreativeReview

Banks Use Free Pizzas and Humor to Calm Fears – a critical piece in The New York Times

Banks Should Stop TV Advertising and Use Social Media – a personal and honest review of bank advertisment