The most-hyped President of the United States

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Changing for deep-pocked corporates however is one thing and quite another for the average retail customer. Can it be done merely by brandishing a new logo and hiring expensive ad agencies and image consultants? The most-hyped President of the United States, Barack Obama is already finding out that selling ‘hope’ and ‘change’ on his campaign trail was one thing, but actually selling a 1,100 page stimulus package is quite another uphill task. Points out Anand Halve of Chlorophyll: “Logo change is just a part of the story and not the most important part either. For a PSB with 8,000-10,000 branches for example – it’s not so easy to communicate and monitor the huge change.”

State-run banks are quick to counter such assumptions. M.V. Nair, CMD of of Union Bank of India (which went for a logo change and re-branding exercise – Good People to Bank With – a few months ago) argues that the ‘change’ being communicated is actually the culmination of a back-breaking, 18-month process change that the bank underwent. “The real expenditure was in the area of process change in terms of investment of technology and training of our 27000 workforce,” he says. The supposedly fuddy-duddy bank smartly teamed up with Infosys Technologies to roll out its Core Banking Solution across its 1000 branches within a record time of 4 months; Boston Consulting Group developed their game plan for transforming employee mindset, while Mudra Communications was handed the task to study, assess and change the market perception of the bank! Nair finds it difficult to hide his delight. “The customer response has been overwhelming,” he says. While it is tough to say whether retail consumers are going to Union Bank out of sheer desperation (thanks to the global financial strain) or due to their makeover gambit, fact is it’s tough to ignore the state-run bank’s brand messages that fill up television sets across the nation’s living rooms every evening. Coupled with their Internet banking services, ATM proliferation, personalised cheque books and focus on customer service, the icing on the cake is all but complete.

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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