 ANZ marketing campaign underway
ANZ Bank is unveiling a new logo at the cost of $15 million. The country's fourth largest bank proudly introduced the new logo yesterday, with chief executive Mike Smith saying it reflects a change at the bank.
Sunday marks the start of the marketing campaign, with television, billboard and newspaper advertising set to cover Australia, New Zealand and Asia. The changes will be brought in gradually to ease the costs of rebranding over night. The $15 million will be used to develop signage overhaul in 2010, with further spending planned in 2011.
A new slogan, "We live in your world" is also part of the campaign. The move follows 18 months of research, where customers and staff, as well as advisors from M&C Saatchi all agreed on streamlining the brand and push into Asian markets like China, Vietnam and Cambodia.
"In recent years, the ANZ brand has become fragmented," Mr Smith said.
"To deliver on its growth strategy and regional aspirations, ANZ has to look like one bank and provide a consistent experience for our customers and our people wherever they come into contact with the bank."
The new logo has three shapes included which are said to reflect ANZ's involvement with Australia, New Zealand and Asia - the banks three core markets - while the central human shape represents customers and staff.
Mr Smith took over management of the bank two years ago, and said the rebranding was designed to show how the company puts people at the centre.
Mr Smith also said ANZ wanted to remain a 'responsible lender' and was aware this may mean loosing market share.
ANZ found their share of new mortgage approvals fell in July to lower than other subsidiaries, unable to compete with Commonwealth Bank since they acquired Bankwest or Westpac since they bought St George.
However, ANZ were the first major bank to lift mortgage rates following the October cash rate increase.
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