When we think of EBL’s success in Bangladesh the
first two questions that comes to our mind are:
What makes EBL so special? Why is
EBL one of the top local Banks of Bangladesh?
Both of these questions can be
answered by EBL’s branding strategy.
Let’s start off with EBL’s attempt
to set it apart from other banks through its logo. It has a different approach
in color scheme compared to most banks. Most banks have the color red, blue,
green associated to it. For example: -
HSBC- Red and Black
Standard Chartered Bank- Blue and
Green
UCB- Red and Blue
As you can see from above most
banks have pretty much the same color scheme. EBL on the other hand has chosen Golden
and Green to represent them. These colors are bright than the usual dull colors
which are associated to banks so that EBL falls under the consumer’s radar.
Which begs to ask the question why
did EBL choose this color scheme?
When we first think of Bank we
think of it to be bland, complicated and troublesome but EBL has decided to
change that point of view about banks to consumers. Their brand slogan is
“Simple Math”. In other words they are promoting that banking procedures with
EBL are easy. With the colorful tri-color logo signifying the sun, sky and
mother earth which represents youthfulness fights the stereotype that banks are
dull.
Most of all advertisements done by
EBL have the color yellow as their background. The reason behind it is to show
that EBL’s logo in such a manner that delivers premium, consistent, confident
look and feel.
Brand Value:
Eastern Bank's claim, 'Simple Math'
has always been much more than just a marketing slogan or an advertising strap
line, it defines the way that the Bank does business. Through the consistent
delivery of the promise EBL aims to live its brand promise of excellence,
relevant client solutions and responsibility to all stakeholders.
Simple Math - as the strap line
goes, EBL offers simplicity in all its banking services and products. From
products and services to processes, EBL tries to uphold the essence of the
message, simplicity. EBL strongly believes in investing in human capital and as
such people is regarded as the most valuable asset of the company.
All in all, EBL has established
itself as a valuable brand in Bangladesh
symbolizing innovation, quality and trust.
Unique Advertisement Method Introduced first in Bangladesh:
They used roadside billboards
consecutively one after the other to promote their Bank a lot. They are first
among the few banks which used this process to promote banking and it has paid
off in spades since EBL has turned out to be one of the best commercial local
banks in Bangladesh.
When it comes to advertisement most
of the times EBL has chosen children as their models. Especially because
children are innocent and simple minded which goes great with their slogan
“Simple Math”.
References:
