Bank of Queensland

Past Situation

Bank of Queensland (BOQ) had only 11% share of the Queensland banking market. Unprompted awareness of BOQ in Queensland was only 33%. People didn't know a lot about Bank of Queensland. 46% claimed they didn't know the bank or had never heard of them. The bank had a confused stance. The marketplace didn't know about owner managers. Consideration was low and likeability was low at only 7% of non customers.
There was no clear brand strategy or positioning, inconsistent presentation of the brand through advertising, and a new campaign virtually every 6 months.

BOQ tended to adopt a more negative advertising approach - telling people what they don't like about other banks then offering themselves as a solution. All of these campaigns failed to have an impact.

BOQ's Guiding Philosophy

Bank of Queensland's Guiding Philosophy and Manifesto reflect the unique Owner Manager model.

Prior to the external brand launch Brand Council worked with BOQ for almost 2 years developing the internal communications and culture development approach which included the development of the corporate culture, a set of service principles and a bank wide customer experience program. The BOQ philosophy is aligned through all areas of the bank, employees, branch and customer.

Internal Communication

External Campaign

Owner managers are at the heart of Bank of Queensland's point of difference. BOQ had a genuinely different story to tell and nothing is more powerful than true stories. Real BOQ people and real BOQ customers.

Results

Increased the rate of new account openings, both personal and business, by 12%.
Increased the personal service score across all frontline areas by an incredible 9% year on year (as rated by BOQ customers).
Established the position as 'The Bank with Owner Managers' with a No 1 ranking in all markets.
Huge gain in net promoter score from 22% in June 2008 to 48% at June 2010.

Industry Accolades