sbm - communication strategy

TABLE OF CONTENT

1. Situational Analysis

2. Goal Setting

3. Strategic Communication Plan

4. Creative Brief

5. Promotional Mix

6. Implementation

7. Measurement

8. Conclusion

VISION Our vision is to be the leading and most trusted financial services provider in Mauritius and beyond.

Mission 1. To build lasting relationships with our customers by offering distinctive products and exceptional service. 2. To be the employer of choice for the top talents in the markets we serve. 3. To prudently manage risk and costs.

Values

1. Putting our customers first in everything we do

2. Committing to world-class standards in every area of our business

3. Treating our employees with integrity and respect - and expecting the very

highest performance in return

4. Adhering to the highest ethical standards

5. Being prudent in taking risks with shareholder and depositor funds

Product and Services Analysis SBM is has 39 branches spread over the island each providing the basics services such as • Withdrawal • Deposit • Mobile Phone Top Up • Bank Transfer • Account Balance Records

Services offered by SBM Below is a table showing the different services offered by the Statement Bank of Mauritius.

Individual Services Business Services Digital Services Loan Services*

Deposits & Transfer of money Working Capital Loan Internet Banking (SBMNET)

& MOOV

Housing Empowerment

Scheme (HES)

ATM Banking Payroll Services SBM Billpay Homeloan

Insurance Services Financing Assets Mobile Banking Personal Loan

SBM’s ATM Network in and out Mauritius As of 2014, State Bank of Mauritius was rolling with a wide network of ATMs offering different services ranging from deposit to withdrawal and mobile top-up. • Competitiveness • Customer Centricity • Risk Management • Operational Efficiency

ATM Services

Strength:

Offers 24/7 change facilities -

provides cash online and effect

deposits.

Weaknesses: ATM cash

dispenser failure, card reader

failure and power shut down

Strength: Specializes in

transactions related to linked

accounts.

Weaknesses: Barclays ATM

card not accessible everywhere

(other bank ATMs)

Strength: Only bank which

allows a withdrawal of maximum

Rs 15,000

Weaknesses: Its ATM card

provides only debit facility

unlike other banks (Point Of

Sales)

Internet Services

Strength: Easy and flexible

(24/7), fast, convenient and

secure

Weaknesses: Problems accessing

internet banking service due to

high traffic at certain times

Strength: Friendly and easy to

use, offers maximum security

through two levels of password

Weaknesses: People can receive

fraudulent emails in their

mailbox and also the service is

only available from 06.00 a.m. to

10.00 p.m. daily.

Strength: Easy, fast, secure and

convenient way to bank, provides

cross currency rates calculator

and unique security code at each

login

Weaknesses: Its website freezes

and also infects computer with

malware stealing one’s identity.

Competitors Analysis We carried out a competitors’ analysis of Internet and ATM banking services offered by three main competitors; namely Mauritius Commercial Bank, Barclays Bank and HSBC.

Campaign Main Objectives Encourage potential customers and customers to use ATM services and internet banking facilities.

Campaign Sub-Objectives (1) Competitiveness 1. Integrated multi-channel offering. 2. Ability to offer different products to the competitors.

Campaign Sub-Objectives (2) Customer Centricity 1. Become the leading digital bank in Mauritius. 2. Consistent cross-channel experience for the customers. 3. Improve customer lifetime journey through CRM.

Campaign Sub-Objectives (3) Operational Efficiency 1. Reduce cost of operations by opting for digital services. 2. Scalable operations throughout the bank’s network.

Customer Stories 1. Have access to ATM and internet services anywhere around the island

so that I can make my financial transactions whenever I want.

2. Have access to ATM and internet services in a secured place so that I don’t have to be insecure while making my financial transactions.

3. Provide sufficient information on how to do my financial transaction, so that I don’t spend time learning about the mechanism at the machine itself.

Company Stories 1. We want our customers to interact with our ATM and internet services

so that they are engage with our brand and eventually become advocates.

2. We want to change the visual appearance of our ATM machines, so that our customers feel privileged and different from others.

3. we want our ATM services to become a common aspect of our customers’ daily life.

Creative Brief: Objectives Increase the number of ATM and internet banking users to reduce the load on central administration and create more engaged customers.

Creative Brief: Audience Our audience comprises of tech savvy who have access to ATM and internet banking services. The age group ranges between 18 and 50 years old.

Creative Brief: Theme One main aspect of banking services is the accessibility and safety.

Creative Brief: Message The main message of the campaign will be “SBM, Rapide et Fiable.” Tone: Humour Angle: Closer to the customers.

Creative Brief: Support The promotional support to be used for the campaign is a mix of traditional and digital marketing support.

Creative Brief: Constraints Lack of knowledge for the older generation (50 - 80 Years Old) to adopt new innovative approaches to banking services. Solution: Education through the campaign.

Promotional Mix 1. Traditional Promotional Mediums 2. Digital Promotional Mediums

Traditional Promotional Mediums Radio adverts airing at prime time with clear scripts and call-to-action. Billboards at strategic places such as shopping malls and bus stations. Newspaper with clear content that reduces anxiety and ease the process of ATM service adoption. Television Adverts within peak hours. Videos have proven to be one of the fastest growing medium in recent years.

Digital Promotional Mediums Social Media Marketing mainly Facebook which is one of the most used social network used in Mauritius. Video Marketing will also be used to share our message across various channels such as YouTube and Vimeo. Web Technologies such as Ad-rolls to make sure we have a retargeting campaign done for website visitors. The aim is to convert website visitors to customers by making them visit a dedicated page about the benefits of Internet Banking and ATM Services.

Proposed Implementation Timeline A Gantt chart has been made in order to visualize the whole SBM campaign from start to finish. This campaign has been planned over a period of eight months.

Promotional Mix Measurement Unique visitors: The number of visitors coming to SBM’s website for internet banking. Engagement Rate: Engagement rate with the marketing and communication campaign. Sales Number: A boost in sales that coincides with the timing of radio ad campaign can be attributed at least in part to the ads as long as no other new campaigns were launched during the same period.