Background
Prime Bank is a Tier 2 bank with a regional presence in Kenya with affiliations in five countries within Sub- Saharan Africa. With 19 branches nationwide, they have solidified themselves a trustworthy family-owned bank for Kenya’s affluent community.
Client: Prime Bank
Services: ATL, BTL & Digital Marketing
Year: Ongoing
Key Challenges
who’s it for?
Prime Bank was considered a predominantly Indian Bank. It was also considered an older generation bank offering old or outdated methods for banking as well as being a ‘rich persons’ bank.
Strategic Insights
take into account
After conducting qualitative research, it was determined that consumers were unaware that Prime Bank offered a range of products tailored for on-the-go customers. The brand was also perceived to be predominantly Indian and would not offer equal service to other ethnicities. Furthermore, being a family bank, it could easily fail. Brand awareness was low despite the bank's very competitive products and it was felt that the bank’s ATM and branch network was too thin.
Approach
investing in the future
We set out to directly engage with a younger and diverse audience by presenting them with the bank’s on-the-go services like mobile and Internet banking. Additionally, we developed marketing tools for investment products that included savings plans for education and bancassurance.
We did this through a strategic roll out plan to revamp product communication, branch designs and location scouting. Furthermore, we managed to position the bank as tech-friendly and as a modern partner for wealth management and investment.
Outcome
This ongoing engagement has dramatically increased consumer uptake on the mobile and internet platforms, especially among our younger target audience. The bank now has a diverse customer base ranging from young professionals to farmers to entrepreneurs and large corporates. Consumer brand awareness and brand loyalty has increased significantly courtesy of attractive visuals, billboards, TV commercials and innovative product offerings.
