Federal Bank’s Home Loan ad aims to look at brighter picture of banking sector; here is how

By: |
Updated: August 15, 2017 11:01:25 AM

In a refreshing move, Federal Bank’s latest campaign is laced with humour and breaks away from the typical ad template of the BFSI sector.

Federal Bank, Federal Bank new ad, Federal Bank home loan ad, Home Loan ad, banking sector, Why Settle for Less, Federal Home loan, BFSI sector, Federal Bank’s campaign, Motilal Oswal ad campaign, Home loan campaignsThe ad also exudes a national character while relating to people across geographies.

The Ad
The Home Loan ad from Federal Bank’s latest campaign Why Settle for Less? opens in a scenario that shows a ‘home with ordinary loan’, wherein a man is getting ready to go for a swim as his son wipes himself after a swim. The man jumps into a pool, but it is an inflatable kiddie pool. The ‘home with Federal Home loan’ shows the man in the same scenario walking out of a bigger house in style to go for a swim. He is finally shown jumping into an actual swimming pool that is attached to his house and enjoying as the brand message ‘enjoy lower EMI with 30 years repayment’ displays on the screen.

Target Audience
25-45 year-olds with a stable income

Business Objective
To reinforce that Federal Bank is a full spectrum bank which is both humane and digitally ahead.

The Appeal
Functional – Emotional

The mood and theme of the campaign borders on not being too hilarious or too serious, and sharply conveys the message in a fun-filled and assertive manner to appeal to its target group. The ad also exudes a national character while relating to people across geographies. The execution of the ad is simple with brand messaging flashing across various scenarios in an explanatory manner.

Competitive Edge
Advertising in banking is a cluttered space. Most ads in the BFSI sector play on the fears of the viewer. With a differentiated approach, Federal Bank’s campaign talks about a serious subject in a lighter vein. The playfulness of its five ads distinguish the campaign from others in the space, giving it an edge.

Tone of Voice
Funny

Verdict
At intervals, Federal Bank steps in with campaigns focussing primarily on a product launch or an event. However, one thing remains common — its strategy of having fun-filled, cheeky campaigns. The bank is back again with five ad films to strongly establish its brand proposition Why settle for less? and goes all out to engage its audiences. Its previous light-hearted campaigns have painted a cheerful picture for viewers. The current campaign takes the humour up a notch in the execution, through the music, acting and overall setting.

It seems that the financial sector — banks and services — are moving away from fear-based ads to execute their campaigns creatively. An example being the recent Motilal Oswal ad campaign. But it is indeed refreshing to see a bank adopting a positive storyline and theme in its communication to make the viewer look at the brighter picture. Home loan campaigns from other banks have, until now, followed a template that showcased a typical family setting with a tragedy looming and the child in the family addressing the parent regarding the problem. While these ads might have been appealing to a certain section of the audience, it did not make for an engaging watch. This new campaign from Federal Bank surely does not settle for less!

Rating: 7/10

@chandni_mathur

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Delhi High Court seeks bank reply on plea against earnest money forfeiture
2Bad loan crisis: Farm loan waiver, rise of cab aggregators and power pose threat to banks, here is why
3Public lenders focussed on bad debts than credit growth: Economic Survey