BOI Bogeyman Advert

[John83]

I could go on, but I can't see where you're coming from on this ?

Are you trying to suggest bank's have low awareness levels....?

My point is that there are lots of banks, and that having a brand name that people think of when they think "bank" will help significantly.

I think that many people who honestly let a bank's name drop into their head after reading this thread would first think 'Bank of Irel... d'oh... I am not influenced by advertising". Most people who had seriously tried to do as I suggested would either have thought of BoI or "Well I definitely won't be writing Bank of Ireland here".

[dcfcsteve]

My point is that there are lots of banks, and that having a brand name that people think of when they think "bank" will help significantly.

I think that many people who honestly let a bank's name drop into their head after reading this thread would first think 'Bank of Irel... d'oh... I am not influenced by advertising". Most people who had seriously tried to do as I suggested would either have thought of BoI or "Well I definitely won't be writing Bank of Ireland here".

You're not understanding advertising here John.

If the ad was designed to rasie awareness of the bank, then it would be successful if the BOI name dropped into people's heads when they thought of a bank. But the simple fact is that everyone in Ireland already knows that Bank of Ireland exist - and numerous other banks. Spending money on awareness raiisng is therefore pure money down the drain for the likes of BOI (unless its aimed at new segments - e.g. young people/students opening their first bank account). And precisely because of the problem you mention of having a plethora of banks in Ireland with high awareness levels, BOI need to seek to differentiate themselves through their products/services - not by telling people who already know they exist that they exist !

When you distill the role of advertising down to its core, it can only essentially do one of 3 things :

1) Raise awareness
2) Encourage trial (through a variety of ways - including brand building)
3) A combination of the above (but this is rare, as it is messy and reduces the impact of both messages).

As BOI have no awareness issue, therefore the aim of their advertising should be to encourage trial of their products.

Most people on here knew about the ads with the fairy and bogeyman, few could actually recall unprompted that it was BOI (myself included) and not a sole has been able to tell me what the ad is actually advertising. That makes it a sh!t ad - it has completely failed in meeting the brief of promoting/selling whatever product or service it is supposed to be.

Advertsing that works tends to be rather dull and very work-a-day (think Cilit Bang) - though that is why it works. It steers clear of drama that overwhelms the message, and the use of characters or contexts that are either unrealistic or completely unconnected to the product. What has a fairy or bogeyman got to do with Bank of Ireland or banking...?

[Poor Student]

Steve, it takes one week for a bank's competitor to copy an original product. They all offer the same products more or less. Building a strong brand is the best way a bank has to differentiate itself from the others. It's a crap ad in my opinion but they're putting themselves out there. The very fact we're discussing it here is testament to the fact it's doing something. There's no threads in the last month discussing AIB but BOI has been brought up a few times.

Btw, he was Dave something or other but a customer with that name complained and he was changed to Dave Boogeyman.

[pete]

I believe BOI are trying to sell one of their products with this advert. It could be current account, savings account or mortgages for all I know...

[Poor Student]

I believe BOI are trying to sell one of their products with this advert. It could be current account, savings account or mortgages for all I know...

I think they're advertising their loan rates and free banking* offer.

*Must do a million and one things to avail of this offer.

[BohsPartisan]

Btw, he was Dave something or other but a customer with that name complained and he was changed to Dave Boogeyman.

Dave Whelan wasn't it?
Funny because thats the name of an occasional Drogs poster!

[dcfcsteve]

Steve, it takes one week for a bank's competitor to copy an original product. They all offer the same products more or less. Building a strong brand is the best way a bank has to differentiate itself from the others. It's a crap ad in my opinion but they're putting themselves out there. The very fact we're discussing it here is testament to the fact it's doing something. There's no threads in the last month discussing AIB but BOI has been brought up a few times.

Btw, he was Dave something or other but a customer with that name complained and he was changed to Dave Boogeyman.

Bank's offerings are not all the same. There are market leading products available all the time - even amongst the high-street banks, which are the most homogenous. It is overly simplistic to give it the 'sure they're all just the same' line.

What is brand building, and how does an ad with a bogeyman and a fairy help in adding to consumer's ongoing image of a bank ? And what is the point of brand building is if it doesn't inevitably lead someone to trial your product or services....?

Having people talking about an ad does not mean it has worked. The fact that no-one here has a feckin clue what the ad is advertising says it all. Does that ad motivate you to enquire about or take-up BOI's products or services ? No. Hence it simply doesn't work as an ad in the way that it was intended.

[pete]

The Halifax Ireland adverts are stupid but they really just trying to establish their brand so they don't concentrate on products too much.

The best bank adverts here I think are the Radobank ones which do well to establish a new different brand & sell their savings products very well.

Going further off topic but the new Guinness "its alive inside" is excellent even by Guinness high standards.

[Poor Student]

Bank's offerings are not all the same. There are market leading products available all the time - even amongst the high-street banks, which are the most homogenous. It is overly simplistic to give it the 'sure they're all just the same' line.

Not really. They all offer relatively the same products with slightly varying rates which the general public find it hard to sift through and compare. Personal banking for example, most banks are offering the same things at the moment, credit interest current accounts, phone and internet banking, regular savers etc. If one bank comes up with something new another one will have it.

What is brand building, and how does an ad with a bogeyman and a fairy help in adding to consumer's ongoing image of a bank ? And what is the point of brand building is if it doesn't inevitably lead someone to trial your product or services....?

Like I say, I personally don't think it's a good ad but you can see what they're getting at, trying to put a humourous angle on starting out on life and you needs from the bank from the perspective of mythical creatures. Not my cup of tea but that's not to say others don't find it funny.

Having people talking about an ad does not mean it has worked. The fact that no-one here has a feckin clue what the ad is advertising says it all. Does that ad motivate you to enquire about or take-up BOI's products or services ? No. Hence it simply doesn't work as an ad in the way that it was intended.

As John pointed out, it's putting BOI in people's heads. They'll be battling with the other banks to win thousands of students accounts in a few weeks, can't do them any harm to be in the back of people's minds. As Pete points out with the Rabo ads, First Active offer a better rate on their electronic savings account but how many people think of them as the leading high interest savings providers?

[Dodge]

The Halifax Ireland adverts are stupid but they really just trying to establish their brand so they don't concentrate on products too much.

The best bank adverts here I think are the Radobank ones which do well to establish a new different brand & sell their savings products very well.

I get the opposit reaction. I hate the rabobank ones and really like the Halifax ads