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Friday, June 14, 2024

Campaigns That Skyrocketed OCBC’s Game In Advertising

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With Ad campaigns like “Simply Spot On” and “Dining-out Effect”, OCBC brought a significant impact on its services. However, before we dive straight into it, let’s know more about the brand and its services for better understanding.

OCBC Bank (Oversea-Chinese Banking Corporation Limited) is a Singapore-based multinational bank that was founded in 1932 by a merger between three local banks. Today, it is one of the largest banks in Southeast Asia and offers a wide range of financial services to individuals, businesses, and corporations. OCBC Bank’s headquarters are located in Singapore, and it has a strong presence in the region, with branches and offices in over 18 countries. It operates through four main business segments: Global Consumer/Private Banking, Global Corporate/Investment Banking, Global Treasury and Markets, and Insurance.

Service Segmentation And Target Audience

The Global Consumer/Private Banking segment offers a comprehensive suite of banking products and services to individuals, including deposits, loans, credit cards, insurance, and wealth management services. OCBC Bank’s Private Banking arm caters to high-net-worth individuals and provides customized investment solutions and advisory services. The Global Corporate/Investment Banking segment provides a range of financial services to businesses, including corporate lending, trade financing, cash management, and treasury services. OCBC Bank has a strong focus on serving small and medium-sized enterprises (SMEs) and has been recognized for its efforts in this area. The Global Treasury and Markets segment offers a range of treasury services, including foreign exchange, money market, fixed income, and derivatives trading. This segment also manages the bank’s investment portfolio and provides wealth management solutions to institutional and retail clients. Furthermore, OCBC Bank’s Insurance segment provides life and general insurance products and services to individuals and businesses.

The “Simply Spot On” Campaign

OCBC Bank launched its “Simply Spot on” initiative to provide financial planning services to young mothers and young men in Singapore. The campaign sought to communicate to these specific groups that even during difficult times, it is feasible to balance both their current needs and future goals. The initiative was developed in partnership with GOVT Singapore, a creative agency, and included two television commercials (TVCs) aimed at different target audiences. The advertisements showcase how the target audiences pursue their interests while simultaneously preparing for their future. The ads conclude with the tagline “Let us help you do it all. That’s Simply Spot On.”

The Idea And Conceptualization Of The Campaign

According to Koh Ching Ching, Executive Vice President and Head of Group Brand and Communications at OCBC Bank, being “Simply Spot On” is a continuous effort that begins with comprehending Singaporeans’ requirements and challenges. She stated that COVID-19 has had a significant impact on Singaporeans’ financial decisions, and the 2020 campaign was designed to demonstrate that financial well-being can be achieved by balancing life’s competing demands with the right support.

The creative directors of GOVT, Pradeep D’Souza, and Katherine Khor, said that it was a refreshing experience to discuss specific issues with a targeted audience thanks to the valuable insights obtained from the vast amounts of data gathered. They commended the data team for making it easier to understand people’s true needs and offer clearer solutions to those who require them the most.

The Dining-out Effect Campaign

In a previous campaign launched during phase two of Singapore’s economic recovery road, titled “The Dining Out Effect,” OCBC Bank provided dining-out offers to Singaporeans as they eagerly anticipated the reopening of restaurants and F&B outlets for dine-in operations. The three-part campaign was produced in partnership with GOVT Singapore, and it was conceptualized, shot, edited, and produced within four days. Theater actors were featured in the campaign, expressing the emotions Singaporeans may feel when dining out again after COVID, including happiness, excitement, and even tears of joy. The ads also showcased dining deals available through OCBC Cards to aid Singaporeans in celebrating the return of dining out.

The campaign aimed to communicate the importance of deals in dining out by establishing the need of savoring food first. It shows how there is nothing quite like the satisfaction of enjoying one’s favorite foods, whether it’s a crispy-skinned roast duck, a perfectly cooked steak, or hot and tender satays. However, with the announcement of the circuit breaker in Singapore, people were suddenly deprived of these delicious experiences. The company expressed disappointment that delivered food fails to replicate the same kitchen-to-table experience and delicious aromas, instead offering meals in plastic and foam boxes that have traveled for a minimum of 20 minutes.

Belinda Tan, Head of Marketing, Group Lifestyle Finance, acknowledged the emotional impact of the Phase 2 restrictions on food lovers and worked with GOVT Singapore to develop relevant content to help them cope. The result was a series of enticing deals that would provide foodies with the next best thing after a great meal.

Famous for content marketing, OCBC also launched two other major campaigns that took the market by storm. In conjunction with International Women’s Day, OCBC unveiled a Facebook and LinkedIn video series showcasing women leaders within the organization. The series, created by Ogilvy Singapore, featured these professionals guiding financial wellness, career development, and life lessons. The theme of this year’s series, #EachForEqual, included advice and inspiration that have shaped these women and their professional journeys across five episodes.

The bank also launched a campaign called “The Great OCBC ATM Dress-Up,” which involved decorating its ATMs with various designs. OCBC noted that customers generally view ATMs as functional machines for cash withdrawal, and banks often miss the opportunity to communicate messages to their customers through them. To highlight some of its products and offers, the bank gave some of its ATMs in high-traffic and prominent locations a makeover.

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