Santander, the Spanish financial
institution, has emerged
from the financial crisis with a rise in profits of more than 22 percent since
Q2 2013 and has exceeded analysts' forecasts. With a healthy balance sheet and
a boost from brighter economic outlooks in the Spanish market, Santander has
begun leveraging its brand to further strengthen its position.
Santander also has new leadership
in place. Newly-appointed
Patricia Botín, recently succeeded her father, Emilio Botín, and is expected to uphold
strong legacy that he built over the years.
Under the younger Botín's leadership, an internal committee--armed with a
healthy budget for branding activities--is dedicated to messaging and
maintaining consistency. Building on its global consistency strategy this year,
Santander invested USD $200 million in rebranding Sovereign Bank in the U.S. Its
campaign, executed against multiple touchpoints, promoted Santander's tagline,
"a bank for your ideas."
Santander continues to effectively
increase global brand awareness through brand ambassadors and its use of key
drivers like corporate sponsorships, including Ferrari and McLaren Formula One.
The bank has also worked to change negative perceptions surrounding customer
service by tailoring products and services to specific needs and communicating
about its offerings in a personal way such as, "I'm going to have a child," "I
want to launch a startup," or "I'm planning on renovating my home." Designed to
bring the brand closer to the consumer, a campaign has launched in some markets
with ultra-personalized messages, referencing particular aspirations such as a "bigger
car for Michael" or a "new downtown loft for Paula and Hugo."
The brand is also innovating by
leveraging its technological skills and its global presence to launch products like
Select Debit, a
service that enables customers to withdraw local currency immediately at all
Santander ATMs worldwide without any extra fees.
By staying on track with its focus
on geographically consistent branding, and its commitment to connecting with
consumers, Santander is well positioned to see profits keep rising.