Storm the Norm

by Anisha Motwani

  The bank did not stop here. To help customers save time, it launched instant account opening at its branches, online opening of savings accounts, and even online application for home loans, car loans and credit cards.

  With more and more customers voicing their feedback and grievances on social media, the bank decided to move beyond conventional customer service channels such as its call centre. It started responding to customer queries and complaints on social media. Every complaint, request and question received through these platforms was addressed swiftly, ensuring that every customer was satisfied and happy.

  Our ‘People’, our brand ambassadors

  Experience is the key promise that the service industry makes to consumers. While consumers build preference on touch and feel when it comes to buying tangibles, they have only their experiences to rely on when it comes to intangible products. How consumers perceive the brand is a factor of their experience of service from the bank’s employees.

  Axis Bank realized that to build a young and progressive brand, it needed to deliver the new, revamped brand through its 40,000+ employees. Crafting and communicating a new brand promise alone was not good enough. The brand promise had to be delivered to the customer on the ground. With this vision in mind, the bank launched its customer service credo, aptly termed ‘PROGRESS’. The driving idea behind it was to move away from the the conventional, staid banker image and adopt ‘insightful banking’ in everyday practice instead. The ultimate goal was to be seen as a partner in the progress of its customers.

  The customer service credo of the bank, PROGRESS stood for:

  •P—Proactive in approach, do not wait for the customer to complain

  •R—Right for the customer, never mis-sell

  •O—Own the solution, never pass the buck

  •G—Go deeper, sense the real need

  •R—Remove the jargon in your conversation

  •E—Error free, try and get it right in the first instance

  •S—Simplify processes and products

  •S—serve enthusiastically

  The new credo became the cornerstone of customer service at Axis Bank.

  360-degree brand promotion

  Then came the time to take all these to the market under a unified brand proposition that resonated with the consumers. The key point that emerged from all the consumer research was that the new set of Indian consumers believed deeply in the philosophy of success being a never-ending journey. It was no longer about having accomplished a goal but about setting newer and newer goals and achieving each of them progressively. Every success was momentary and just another milestone in the journey of life. There was a need to embrace an idea so large and evolving and articulate it in a manner which encompassed its true nature of progress, continuity and evolution.

  The brand essence of ‘Progress without Pause’ manifested itself beautifully in the new brand positioning:

  Axis Bank. Badhti ka naam zindagi…Or Axis Bank. Progress On…

  The positioning speaks about a life that everyone wishes for and works towards. It symbolizes that Axis Bank will be there to help you move forward at every milestone and every stepping stone in the journey of your life—through first job jitters and marriage vows, through buying a first car or home, through family responsibilities and joys, Axis Bank will be there all the way, to celebrate this journey called life. The new positioning took the brand a step forward by articulating the role a bank should play in the lives of people. The promise was that of a partnership with them on their path to progress.

  The Badhti ka naam zindagi campaign was split into three phases:

  Phase 1 (February–December 2012) was the story of an individual, with life being compared to a film without intervals.

  After narrating the story of an individual’s progress in Phase 1, it was important to pay attention to the diverse and multicultural population of India.

  Phase 2 was about ‘collective progress’ with the insight: ‘In the journey of life, we never progress alone’. The ‘circle of progress’, as it was aptly termed, was successfully converted into the campaign thought, ‘Zindagike highway pe koi akela nahin badhta’ (No one progresses alone on the highway of life).

  Much like the new brand philosophy, the rebranding efforts reflected a continuous journey. The efforts to extend the brand essence and make the brand presence stronger did not abate. The circle of progress idea led to a platform that could be amplified digitally. Progresstogether.in was created as a way of connecting people online. Users could log in with their e-mail IDs or their Facebook accounts to be part of the ProgressTogether network, where they could acknowledge those who had played a part in their progress.

  The microsite was promoted extensively on the digital platform, besides TV and out-of-home (OOH) media. Challenging the staid bank-like image, the brand made the idea come alive with interactive, game-like videos that communicated the product proposition. This not only made the communication interactive but also fun, thus increasing receptivity. Four product videos were created and hosted on the microsite.

  Continuous exposure was ensured on other impactful platforms that complemented the bank’s idea of progress, like one of India’s highest-grossing television shows, Kaun Banega Crorepati, and the bold talk show, Satyamev Jayate. The Axis Bank team took this as an opportunity to take PROGRESS to another level.

  The success of these campaigns set the tone for Axis Bank’s communication, and it has been possible only because the dialogue with the customers has been meaningful. The idea was not to stop here, but rather to create an all-round banking experience—where every interaction that Axis Bank had with its customers, resonated its core philosophy.

  With dedicated focus on the brand positioning over two phases of the campaign, Axis Bank had achieved what was one amongst its many brand objectives. The brand had gained significantly on spontaneous salience and stood strong amidst its competitors, ICICI Bank and HDFC Bank, in terms of recall and recognition.

  The next task for the brand was to improve its preference and consideration amongst them (largely the younger audiences). It was clear that now was the time to change gears and take its communication to a new level and this is exactly what the third phase of the Badhti ka Naam Zindagi campaign was designed towards.

  To improve consideration amongst its consumers, the brand understood that it had to give them a tangible reason to subscribe to the brand and start using its products and services. Thus the communication had to be woven around stories of these products more strongly but under the aegis of the brand idea. It was important that each of the products and services the bank offered was seen as enabling the progress of its customers, thus extending the idea to everything that the brand had to offer.

  Phase 3 was about the many meanings of progress. Furthermore, it was found necessary to offer products and services that were distinct from similar ones of competitors. To amplify its youth image, it was felt that using a known face that had pan-India appeal, was modern and yet rooted, young and not normally associated with a heavy category like banking, was important. Leading Bollywood actress Deepika Padukone was signed on as the brand ambassador for Axis Bank. The choice of Deepika Padukone as brand ambassador was a strategic move that would not only help improve consideration but also amplify the image of the bank without alienating any of the multitude of segments that it catered to.

  The creative idea was to portray stories of what progress meant to someone who was in the journey of progress herself. The communication brought out those aspects of her life. The campaign tapped into the human side of Deepika, portraying instances from her life where she used and endorsed Axis bank products depicting different facets of progress.

  #myideaofprogress

  Since the campaign idea was all-encompassing in nature, people were invited to participate and contribute their ideas of progress. A microsite— www.myideaofprogress.com—was created for people to post their ideas and thoughts on what progress meant to them. It
was not just a crowdsourcing activity but a contest where people could create their progress diaries and stand a chance of winning a grand prize.

  Mutlimedia strategy for a multidimensional campaign

  While TV was used to play up endearing stories from Deepika’s life to promote the products, other media like print, outdoor and below the line (BTL) were used to promote specific features of the products.

  Last but not the least, the new generation of Indian consumers, while being very focused on its own progress journey, was equally sensitive to its responsibility towards broad-based and sustainable development. The brands which it related to were all brands that echoed this belief in the way they did business.

  Corporate Social Responsibility

  In 2006, Axis Bank set up Axis Bank Foundation (ABF) as the corporate social responsibility (CSR) arm of the bank

  ABF is working ceaselessly towards creating one million sustainable livelihoods by the year 2017. Today, it partners over forty NGOs in delivering programmes in the areas of sustainable livelihood, education and health.

  For its efforts, the Foundation was conferred an Outstanding Corporate Foundation award at Forbes India, Philanthropy Awards, 2014.

  A consolidated and synergistic effort resulted in what the team had set out to do—boost a brand that was seen as a midget amongst its peer competition group. Within a span of just four years, the brand was far more recalled and preferred, and commanded a unique and differentiated positioning in the minds of consumers.

  Spontaneous awareness: Now the most spontaneously recalled private sector bank

  Source: AC Nielsen Brand Track.

  Brand consideration: Now the second most considered amongst private sector banks

  Source: AC Nielsen Brand Track.

  Improving imagery perceptions over the years

  Source: AC Neilsen Brand Track.

  Consistently attracting a younger audience set

  Source: Internal data.

  Axis Bank’s success can be attributed to many factors, but none as significant as its steady focus on customer-centricity and innovation.

  Within a span of just four years, Axis Bank has moved up from being the third most trusted private sector bank, to the most trusted. It has been voted the Most Trusted Private Sector Bank Brand in the country, two times in a row, in Brand Equity’s Most Trusted Brand Surveys (December 2013 and October 2014).

  Source: Brand Equity, The Economic Times, 28 September 2011, 7 November 2012, 18 December 2013, 22 October 2014.

  The brand’s journey has just started and there are many milestones to come. And just like its journey so far, the many initiatives under way at Axis are a work in progress.

  1AC Nielsen, Usage and Attitude Study 2011.

  THE CHEETAH-INSPIRED XUV500

  Prowls the Global Automotive Arena

  Creating a new segment: Advantage Mahindra

  While international sports-utility vehicles (SUV) were already available in India at the time the XUV500 was conceptualized, they were highly priced and selling in small volumes. There was no brand that offered a premium ‘global SUV’ meeting international standards at an affordable price point. Mahindra saw this opportunity and took on the challenge of creating a world-class yet affordable SUV for the value-conscious Indian. The market opportunity lay between Mahindra’s own Scorpio and Toyota’s Fortuner in the ₹10–20 lakh price bracket. XUV500 was conceptualized to take brand Mahindra to the next level not just in India but also keeping in mind the global consumer.

  Challenging norms

  The design and development of a car is all about managing the future, because it takes around four-five years for a major new product to come to life from the concept-development stage. The design and marketing team at Mahindra gathered needs of not only current consumers, but also looked for indications on how these needs would change and evolve by the time the product was ready for launch.

  The team that conceptualized XUV500 reached out to consumers across five continents in countries like Italy, South Africa, USA, Australia and in Latin America to conduct a 100-day study and collect the voice of consumers (VOC). This VOC was then clustered into common themes and also translated into technical and product requirements through a process called quality function deployment (QFD). These consumer insights coupled with emerging consumer trends, futuristic technologies, international and domestic benchmarks and styling preferences were assimilated by the marketing, product planning and R&D teams to define the product concept for the ‘global SUV’. The outcome was an adrenalin-powered expression—‘Feeling the Power’—that eventually went on to win the hearts of the consumers.

  ‘Feeling the Power’ became the ‘driving emotion’ behind every sphere of design decision during product development. ‘Power’ had many connotations among consumers. To some it meant sheer physical power of the SUV while to others it was manifested in the aggressive styling, muscular looks and macho stance of the vehicle. Even the high seating position was conceptualized to give a commanding view of the road while driving, which is an interpretation of ‘power’. Some consumers equated ‘power’ with the status and respect they can inspire when they are seen driving or when they arrive at their destination in their powerful vehicle.

  During this journey of creation there were numerous such challenges and turning points where significant decisions were taken. There were many firsts and trade-offs and each had inherent risks associated with it. At one stage, the management team was torn between two equally powerful designs based on two distinct inspirations from ‘Feeling the Power’. One of the designs was more in line with the existing SUV design themes in the Mahindra portfolio, while the other was more evolved and futuristic, something that Mahindra had not attempted in the past.

  Mahindra eventually took the road less travelled and decided to go ahead with the more futuristic concept which was inspired by the fastest animal on land—the cheetah. The cheetah was the epitome of ‘Feeling the Power’ in every sense—speed, agility, stance, aggression, muscle. Thereafter, many design elements took inspiration from the cheetah to bring alive the concept of ‘Feeling the Power’ from the pouncing cheetah-inspired bodylines and stance to the muscular wheel arches, the cheetah jaw-like front grill and even the door handles which represented the paws of a cheetah.

  The glimpse of the clay model that rendered the design in its full physical form was enough to give confidence to everyone in the team that this was the winning concept that would enable Mahindra to make its presence felt not just in India but in the global automotive arena. And thus was born ‘Advantage Mahindra’.

  A monocoque body, inspired by the cheetah’s agility, was adopted for the SUV to create a differentiated and unique styling coupled with superior ride and handling experience. Mahindra was the first Indian manufacturer to indigenously develop a monocoque body for an SUV.

  Three projects rolled into one

  The enormity and complexity of the project was a major challenge. The global SUV project was actually three projects rolled into one:

  »Setting up of the high-tech R&D facility, Mahindra Research Valley (MRV) at Chennai.

  »Simultaneous product development project for the XUV500.

  »Construction of a world-class manufacturing facility for the XUV500 at Chakan, Pune.

  The most crucial thing was that all three projects were interlinked and had to be completed so as to feed into each other’s dependencies.

  The technological risks were high due to many firsts which were included to make the product world-class. Mahindra wanted to give consumers high-end technologies like electronic stability program (ESP), touch-screen infotainment system with GPS, hill hold and hill descent and six airbags.

  The company partnered with world-class vendors who had the expertise and capability to deliver these cutting-edge technologies to consumers at the right time and at a price that was significantly below those of international brands.

  A multi-pronged approach to creating a c
ategory

  Mahindra already had successful brands in its portfolio, but wanted to develop a new category-creating brand to take the Mahindra brand to the next level of aspiration. It took on the challenge of creating a category higher than its iconic Scorpio, of a world-class SUV priced above ₹10 lakh.

  Tapping a new consumer segment

  Mahindra and Mahindra (M&M) decided to reach out to urban, sophisticated consumers who either did not consider SUVs or only considered premium international sedans. M&M created a distinct brand identity for XUV500 while retaining the Mahindra DNA of making tough and rugged vehicles.

  Premium brand nomenclature

  M&M decided to adopt an alpha-numeric nomenclature to signify a premium and exclusive brand. This also helped M&M ensure minimal cannibalization among portfolio brands.

  »The ‘global SUV’ was christened XUV500, chosen from among thousands of potential options (pronounced as ‘5 double O’, where the ‘double O’ stood for the ‘oomph’ factor of the vehicle).

  A deal-clinching price point

  The XUV500 was launched at a jaw-dropping price of ₹10.8 lakh (ex-showroom Delhi). Auto experts were amazed and consumers delighted with this price point that offered a ‘never before’ package of head-turning style and hi-tech features at a price significantly lower than its international counterparts. It was way below the expectations of industry experts and consumers who were anticipating a price of more than ₹15 lakh—given the design and features. Such an attractive price point became possible because of the ingenuity of Mahindra engineers coupled with the ‘Mahindra Rise’ philosophy of accepting no limits to make things happen. This challenger spirit galvanizes the Mahindra engineers to constantly push the envelope and raise the bar as they strive to deliver better value to their customers. The result was that the team was able to pack in features like electronic stability program, static bending headlamps, tyre pressure monitoring system, state-of-the-art infotainment system with touch screen and apps in the XUV500 which many brands even above the ₹25 lakh price point were not offering.