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.
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.
25-45 year-olds with a stable income
To reinforce that Federal Bank is a full spectrum bank which is both humane and digitally ahead.
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.
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
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!