By Lindsey Kin

Before deciding on a medium, it important to understand your consumer. One needs to know what they read; watch; and listen to, as well as where there interest lie, before choosing a particular advertising platform in which to place a campaign to reach that specific target audience. With Standard Bank’s MyCard, the group launched a first-of-its kind credit card for women in South Africa, reinforcing the status of South African women who make the majority of buying decisions and have better financial records than men.

On top of TV, Standard Bank made use of Destiny magazine to market this new banking concept. The brand personality of this publication is about the professional woman who sees herself as being quite different from her mother and more traditional female peers, in that she is more rebellious; independent (emotionally and financially); more educated; and more outspoken. This is the reason why Destiny was selected for Standard Bank’s MyCard, in that the magazine’s target market and the MyCard target market is a match – thus connecting with its specific target market.

“Determined to assist our clients in making the right connections, Standard Bank will ensure that they move forward, by changing opportunities into realities. Standard Bank will encourage you to move forward by ‘connecting the right ideas; at the right time; at the right place; in the right way, in order to unlock something better and create opportunities that will move you forward,” says Nikki Twomey, Standard Bank Group Brand Director.

The MyCard campaign has also used the online realm to connect with its female consumer. For example, the ‘Let’s celebrate you for being you’ competition allows female MyCard holders an opportunity to share their MyCard experiences with an online community.

Standard Bank’s new campaign is impressive – and if you too have seen their pop-up print add in Destiny magazine, you will know exactly what I am talking about. I also feel that the campaign has been a success thus far, because it truly connects with the modern female consumer who is financially independent, through many media avenues, with its underlying message communicated on a personal level.

What are your thoughts on this campaign? Post your comments on our blog.

By Reikhutsitse Malala

The joint campaign is aimed at effectively dealing with debt-related challenges and conveying critical information to consumers who have dented their credit record.

African Bank Investment Limited Executive and Campaign Spokesman, Johan de Ridder, said the campaign is aimed at reaching consumers who are debt-stressed but not yet under review, as well as consumers who are already under debt review.
“We want to reach out to consumers who are plunged in debt and give them an empathic ear and encourage them to apply for debt counseling,” de Ridder told the gathering.

The campaign, funded by ABSA; African Bank; Capitec; First Rand Bank; Nedbank; and Standard Bank, will be pushed through media advertising.
Media Relations officer of NCR, Lebogan Selibi, says they will start conveying their message through various radio stations in seven different languages and in newspapers in two languages.Selebi says through this campaign they aim to reach about 75 to 85% of the entire population.

As a starting point for debt-affected consumers, de Ridder invited consumers to contact banks when it comes to dealing with over-indebtedness before applying for the debt counseling and preferably before actually defaulting. He added that consumers under debt counseling are encouraged to visit their debt counselor to ensure that they have a debt plan in place that will enable them to settle their debts within a reasonable period of time as required by the National Credit Act, so that they can restore their credit worthiness.

De Ridder also warned non–paying consumers under debt counseling that they run the risk of having their debt review process terminated, and they may lose their assets and all protection afforded in terms of the Act.

According to Spokesperson for DCASA, Paul Slot, who was also part of the panel at the conference, debt counseling at present is not achieving its aims as outlined in the NCA. Slot adds that limited cases are being resolved and high levels of defaulting consumers are under counseling. “This campaign, in combination with the implementation of the NCR Debt Review Task Team recommendations accepted by the banking industry, aims to start reversing these adverse trends,” said Slot.