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| indiantelevision.com's MAM Special
Report: Mudra's Leading Brands Case Studies |
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| GTB's
show me the money mantra - 'one stop shop for banking' |
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Indiantelevision.com Team
(25 November 2002 10:00 am) |
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 Global
Trust Bank (GTB) was one of the first few Indian private banks to
be set up in the early 90s. GTB's profile was that of a modern, service-focussed
bank, a median between the nationalised banks on one end and the MNC
banks on the other.
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Consumer insight:
Consumers prefer technology enabled banking services to be delivered
with traditional Indian warmth. The banking category has a spectrum
of banks- public sector banks, Indian private banks and multinational
banks. A consumer research showed that public sector banks did not
score high on service, friendliness and technology. Among them the
State Bank of India was seen as the leader, based on trust and security.
Among the Indian private banks, ICICI and HDFC were perceived as significant
players and as strong on service and technology.
Public sector banks have a large customer base. Customers of such
banks would welcome a superior level of service and warmth along with
technology led efficiency. Existing customers of Indian private sector
banks are always looking out for better options.
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Objective:
Global Trust Bank's objective was to grow into a dominant player  with
a continuing emphasis on technology and personalised service. It also
aimed to evolve into a 'one-stop shop' for banking and related financial
services and to deliver all its offerings with traditional Indian
warmth and hospitality. GTB's aim was to provide qualitatively superior
banking experience to customers with its 'human banking' and 'technology
banking'.
Strategies:
GTB started attracting the public sector bank customer with its  high
level of service, friendliness, technology and efficiency. Customers
with different age groups and profiles (working women and housewives,
families, executives, retired individuals) were covered to enlarge
its base. It used each target customer to deliver a specific promise
about the bank. It mainly concentrated in the West and South being
'GTB-strong' markets and then followed North and East.
Media:
GTB used a combination of print and TV cost effectively and dominated
outdoors to reach out. It leveraged branch-opening communication to
address the issues of reach and accessibility to the customer. It
extended brand imageries to branches and ATMs.
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What GTB received in return?
Use of modern technology played back. The customer base of  GTB
increased from 1,60,000 to 3,00,000 in 12 months. The characters used
in the advertising, specific statements made by them, and burgundy
as GTB's colour, became strong brand identity elements. The responses
from customers of GTB, Indian private bank and public sector bank
were as under-
1. Younger than other new Indian private banks and MNC banks.
2. More sophisticated and tech-savy than public sector banks.
3. More friendly and caring than other Indian private banks.
After having successfully established the brand on the human banking/
technology banking platform, the task of looking ahead  meant
building on the positives - superior service levels, identification
of bank with key consumer statements. Since the goal was to emerge
as a one-stop shop for banking and financial services, the theme (Human
Banking) was blended with product-focussed communication.
Product focus:
Year 2000-2001 saw the focus on the products. This continues in 2002.
The products are:
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No
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Products
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Benefits
/ Services
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1.
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SmartSave
A/C
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To
give high returns with instant liquidity.
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2.
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Current
A/C Premium (CAP)
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To
cut costs and multiply benefits.
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3.
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Pranaam
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To
give higher returns for senior citizens.
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4.
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Lakhpati
Deposit
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Small
savings every month for big returns over time.
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5.
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Global
Collect
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A
service designed for Gems and Jewellery Exporters.
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| 6. |
Proton |
 A
debit card which can be used globally. |
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7.
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CashLine
Collection
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Payment
and Liquidity services to enhance the efficiency of a firm's
cash flow.
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8.
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i-shield
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A
high growth recurring deposit to protect against rising taxes
and falling interest rates.
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9.
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Feeasy
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A
service which allows easy collection of fees.
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GTB Today:
 GTB's
personalised, efficient, uniform and consistent services are the main
highlights that increased its customer accounts from 1,60,000 in March
1999 to over 7,75,000 in March 2002. Its advance increased to Rs 3033
crores and today it has a deposit base of Rs 6443 crores. |
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