INSIDE OUT MARKETING

Toby McKinnon CMO BOQ & Megan O’Donnell Executive Planning Direct or BWM Dentsu

2012 our ‘Wat ershed’ moment

A very unique set of challenges

A t ot al rebrand dr iven from t he inside-out

Br inging ‘human relat ionships’ back int o banking

What we’ve achieved and more impor t antly

learnt over t he last 3 years

THE ROLE OF BRAND IN

DRIVING BUSINESS TRANSFORMATION

A net loss of $17.1 M

2012 – A POST GFC MARKET

*Nielsen Advocacy Survey 2012

MORE THAN ADVERTISING

Recommendat ions from people I know

Consmer opinions post ed online

Edit or ial cont ent such as newpaper ar t icles

Branded Websit es

92%

70%

58%

58%

Emails I signed up

for

50%

Ads on TV 47%

Brand sponsorships 47%

Ads in magazines 47%

THE BRAND FIXER

A CULTURAL SHIFT

A COUPLE of

CHALLENGES

A new execut ive t eam & way of working

BIG EXPECTATIONS

An owner manager model

A UNIQUE OPERATING MODEL

My first board meet ing

“WHAT DO YOU THINK OF THE BRAND?”

Enough said

THE OLD BRAND

Share of voice

HIGHLY COMPETITIVE CATEGORY

THE OPPORTUNITY

Cust omer exper ience model

• Leverage an eCRM st rat egy t o build great er

ret ent ion, loyalt y and value from our exist ing

cust omer base

INNOVATE OR DIE?

INNOVATE OR DIE?

Cust omer exper ience model

• Leverage an eCRM st rat egy t o build great er

ret ent ion, loyalt y and value from our exist ing

cust omer base

•I mplement dat a and analyt ics t o deliver int elligence for

opt imising t he exper ience across t he cust omer j ourney

INNOVATE OR DIE?

Cust omer exper ience model

• Leverage an eCRM st rat egy t o build great er

ret ent ion, loyalt y and value from our exist ing

cust omer base

•I mplement dat a and analyt ics t o deliver int elligence for

opt imising t he exper ience across t he cust omer j ourney

•Develop digit al ‘Ut ilit ies’ across social and mobile t o enhance

our cust omer exper ience and different iat e from compet it ors

INNOVATE OR DIE?

Cust omer exper ience model

• Leverage an eCRM st rat egy t o build great er

ret ent ion, loyalt y and value from our exist ing

cust omer base

•I mplement dat a and analyt ics t o deliver int elligence for

opt imising t he exper ience across t he cust omer j ourney

•Develop digit al ‘Ut ilit ies’ across social and mobile t o enhance

our cust omer exper ience and different iat e from compet it ors

• Opt imise our ‘Omni-channel’ offer ing t o build brand

appeal amongst exist ing and pot ent ial cust omers

INNOVATE OR DIE?

Cust omer exper ience model

• Leverage an eCRM st rat egy t o build great er

ret ent ion, loyalt y and value from our exist ing

cust omer base

•I mplement dat a and analyt ics t o deliver int elligence for

opt imising t he exper ience across t he cust omer j ourney

•Develop digit al ‘Ut ilit ies’ across social and mobile t o enhance

our cust omer exper ience and different iat e from compet it ors

• Opt imise our ‘Omni-channel’ offer ing t o build brand

appeal amongst exist ing and pot ent ial cust omers

• I mplement media at t r ibut ion

modeling t o make our media SOV go

furt her

INNOVATE OR DIE?

Look for our brand purpose

NO BELLS & WHISTLES

AN INSIDE-OUT APPROACH

THE RIGHT PARTNERS

AN INSIDE OUT APPROACH

1. Th e

Bu s in e s s s t r a t e g y

2 . T h e

B r a n d P u r p o s e

3 . T h e

In s i g h t s

4 . T h e

a r c h e t y p e

5 . T h e o r g a n is in g id e a

Re c o g n i t io n R it u a l s

6 . T h e f iv e R’s

RES ET Re a l t im e Re a c h

Str

ate

gy

Big

Id

ea

Agile E

xecution

UNCOVER THE BOQ ‘DIFFERENCE’

UNCOVER THE BOQ ‘DIFFERENCE’

IT’S POSSIBLE TO LOVE A BANK

5. THE ORGANISING IDEA To prove it’s possible to love a bank.

1. THE BUSINESS STRATEGY

Putting human relationships back

into banking.

2. THE BRAND PURPOSE

To be the most loved bank in Australia.

Brand Belief: We believe our customers are a big deal.

4. THE ARCHETYPE

The Real and Human Challenger.

3. THE INSIGHTS

Cultural Insight: Australians don’t like banks.

Human Insight: I’m just a number, I feel undervalued and locked in.

RITUALS

Branch Owner Managers regularly meeting and greeting customers, internal unbank-like

service meetings.

RECOGNITION

Use of an optimistic and charming tone, illustrative style and ‘heart’ device in all

internal communications.

6. THE FIVE R'S

Bring the Organising Idea to life internally and externally.

RESET

CEO, Stuart Grimshaw launched mission 'to be the most loved Bank in Australia' to staff.

National PR roadshow.

REAL TIME

Sophisticated digital remarketing, content strategies to actively engage both existing and potential customers throughout the customer journey.

REACH

The Organising Idea influences every consumer facing touchpoint and drives differentiation in

media mix to maximise ROI.

“This isn’t j ust a t agline – it ’s an inside-out rebrand

t hat involves a whole new way of behaving as an

organisat ion, building on what we do well and changing

how t he bank operat es int ernally, r ight down t o t he

syst ems and processes we use,” he said.

“Cust omers exper ience our brand t hrough our employees,

our product s and services, and t hey will decide whet her

t hey love us based on t he service we provide and t he

relat ionships we build. What we’re building here is a

cult ure where employees are empowered t o make all

aspect s of banking bet t er” St uar t Gr imshaw, BOQ CEO.

BOQ, Apr il 2013 Press Release.

BRAND RESET – A CALL TO ARMS

RECOGNITION – SIGNALLING

CHANGE

Bank of Queensland Limited ABN 32 009 656 740 (BOQ) conducts the Banking on our Kids appeal on behalf of Children’s Hospital Foundations Australia ABN 72 003 073 185 under a written authority with Children’s Hospital Foundations Australia, who are administered by

Sydney Children’s Hospital Foundation, Randwick and who are agents for and on behalf of Children’s Hospital Foundation, QLD, Princess Margaret Hospital Foundation, WA, Royal Children’s Hospital Foundation, VIC and Women’s and Children’s Hospital Foundation, SA. QT V1 BooK

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RECOGNITION – SIGNALLING

CHANGE

RITUALS – LOVABLE BRAND

BEHAVIOUR

REACH – SPREADING THE LOVE

REACH – SPREADING THE LOVE

REACH – SPREADING THE LOVE

REAL TIME – KEEPING THE LOVE ALIVE

ACHIEVED & LEARNT

Then...

“...I ’m fair ly cer t ain t hat my message has been clear on

what I have NOT liked wit h regard t o t he direct ion

t hat we are being asked t o t ake wit h t he current

market ing and I will cont inue my bat t le wit h anyt hing

merchandise / market ing relat ed.”

Now...

“...OMG...t his is very excit ing!!! Thank you – you have

no idea how much difference your help has made and

your suppor t is highly valued. We really look forward

t o working wit h you t o t arget our market in really

innova t ive ways!!”

LOVE NEEDS TO BE EARNED

PROVING IT’S POSSIBLE TO LOVE A BANK.

I nser t board video

QUESTIONS

For more information about the marcus evans marketing

summit series: marketingseries@marcusevanscy.com