by MarkLives (@marklives) After ending a relationship spanning 26 years with TBWA\Hunt Lascaris, Standard Bank has appointed M&C Saatchi Abel as its new through-the-line (TTL) ad agency, while Ogilvy South Africa is its new brand agency. Clockwork Media has been awarded its consumer PR (retail and business) business, and Edelman becomes its key corporate reputation management agency.
This follows an extensive TTL pitch process which saw ad five agencies shortlisted for the main business: Ogilvy SA, Avatar, M&C Saatchi Abel, Wunderman Thompson and VML. The appointment for all the successful agencies is effective from July 2019 and will assist Standard Bank in consolidating its market position across its 20 African geographies, and other major centres such as New York, Beijing and London.
Second within a year
Standard Bank, the 23rd largest advertiser by spend in SA according to Nielsen, is the second major bank changing agencies within the past year. At the end of 2018, Nedbank appointed Joe Public United (previously its ATL agency) to its TTL account, with Levergy managing the sponsorship account and Digitas Liquorice its digital creative.
In a statement announcing the new agency lineup, Standard Bank said it’s revitalising its marketing and communication expertise by appointing reputable agencies to help it win the hearts and minds of clients in the digital and experience economies. This follows a comprehensive review of the bank’s agency model, which identified novel opportunities to position its brand and reputation more strongly in a market where emotional connection and stakeholder trust are vital sources of sustainable competitive advantage.
“Globally, the financial services competitive landscape is undergoing a dramatic shift, with ever increasing client expectations,” says Thulani Sibeko, Standard Bank Group chief marketing officer. “Standard Bank is committed to deliver on these growing customer expectations and looks forward to partnering with the new agencies to help us connect with our clients.”
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It might be cheaper for Std Bank to simply offer good. value for money service and treating its customers with respect.