|Title||SBI FINDS SBI|
|Brand||SBI SAVINGS BANK|
|Product / Service||SBI SAVINGS BANK|
|Category||D05. Cultural Insight|
|Entrant||HS AD Seoul, SOUTH KOREA|
|Idea Creation||HS AD Seoul, SOUTH KOREA|
|Media Placement||HS AD Seoul, SOUTH KOREA|
|Production||HS AD Seoul, SOUTH KOREA|
|Ingyu Park||HS Ad||Creative Directing|
|Ji Yeon Park||HS Ad||Copy Writing|
|young min you||HS Ad||Art Directing|
|MinKyoung Kim||HS Ad||Art Directing|
|SEUNGHEE LEE||HS Ad||Copy Writing|
|Byong Jae Shin||HS Ad||Planning|
|Suin Kim||HS Ad||Planning|
|JeongTaek Lim||HS Ad||Planning|
Would you be able to forget a brand name if it resembles yours? If, one day, you can find a brand name in your name, your family’s name, and your friend’s name, then you will be able to recall that brand name easily. New SBIs are introduced on SNS channels in various form such as influencer content and digital video content on a weekly/monthly basis.
SBI Savings Bank is the No. 1 in the industry in Korea, but its brand awareness remains in No. 2 by a wide gap(2020 Brand awareness ranking : OK Savings Bank 61% vs SBI Savings Bank 36%). Unlike how consumers interact with banks on a regular basis, consumers only visit savings banks when they have special needs, such as deposits, loans and so on. Because they only search for savings banks when they need it, consumers tend to choose savings banks that is on top of their minds. That’s why SBI Savings Bank's top objective is to increase brand awareness to be chosen by consumers more.
The main competitors are the ‘OK’ Savings Bank and the ‘Welcome’ Savings Bank. ‘OK’ and 'Welcome' have brand names that are intuitive and easy to remember. However, the ‘SBI’ is very unfavorable for raising brand awareness because it is difficult to remember and to guess the meaning. However, we found a new opportunity within the difficult-to-remember brand name ‘SBI,’ which we previously saw as a limitation. The only difference of ‘SBI’ from ‘OK’ and ‘Welcome’ is that it is made of three letters. And most of the initials of Korean names also have three letter alphabet (ex. Son Heung Min / Bong Jun Ho etc.). Using this three-letter alphabet initials system, which is unique to South Korea culture, we provide a playground where consumers can directly find and report the initials of 'SBI' in all names in the world, so that 'SBI' can live in their memories.
The reason we came up with this creative idea was stemmed from the strategy of “let the consumer voluntarily think of the three letters of ‘SBI’ and search for it,” instead of the strategy of simply exposing ‘SBI’ to consumers. What should we do to make consumers remember the three letters, ‘SBI’, that are difficult to remember, unlike ‘OK’ and ‘Welcome’, and look for them? “If the initials of ‘SBI’ are included in the names of myself, my family, my friends, my pet, my favorite store, etc., consumers will be able to remember the ‘SBI’ Savings Bank brand name in a more friendly and meaningful way! Like this, we have increased brand awareness by providing consumers with an opportunity to give their own meaning to three letters of “’SBI’ that were deemed to be difficult to remember and unclear in its meaning.
[Phase.1] “SBI Finds SBI”-TV & Digital & OOH In order to collect all stories related to ‘SBI’ via the campaign site (www.iamSBI.co.kr), we ran campaigns via media that were connected to consumers, like TV, digital banners, SNS, and OOH. [Phase.2] “SBI Found by SBI” – TV & Digital (20/12/2020 - Ongoing) Among the hundreds of stories that have been submitted to the campaign site of “SBI Finds SBI”, three stories that were particularly meaningful in the COVID-19 era were selected and presented as TV commercials. New SBIs are introduced on SNS channels in various form such as influencer content and digital video content on a weekly/monthly basis.
1. Achieved the highest level of brand awareness in the shortest period Compared to the annual average brand awareness increase rate of 9.7%, brand awareness was increased for +33.5% just in 42 days thanks to “SBI Searching for SBI” campaign 2. Improved gap between OK Savings Bank, which has No. 1 brand awareness Minimized the gap with OK Savings Bank for the first time since 2017 through the ‘SBI Finds SBI’ campaign
'SBI' has three-letter English initials. Korean names have a three-letter name system. Taking advantage of this commonality was a solution that could dramatically increase the brand awareness of SBI Savings Bank, in the reflection of Korean culture. In general, Korean names, like Son Heung Min / Bong Jun Ho, use a three-letter name system. For this reason, if you usually write the initials of your name in English, it you will have to write it this way: S.H.M / B.J.H. And there are countless people in Korea with initials ‘S.B.I : Son Bom Il / Song Bu In’. In addition, in the culture of the three-letter name system, Koreans usually name their pets in three letters. The 'SBI Finds SBI' campaign makes consumers look for family, friends, and pets with the initials 'SBI' around them, and this process makes them remember the ‘SBI’ more meaningful and friendly way.