DBS Bank has changed its tagline from “Living, Breathing Asia” to “Live more, Bank less”, the former being the company’s brand promise since 2006.
An initial investment of SG$30million has been set aside to bring this new brand proposition to markets the brand has a presence in across Southeast Asia, Greater China and South Asia, the bank revealed at a media conference. The presentation also saw Piyush Gupta, CEO of DBS Bank, revealing that currently, the DBS brand is valued at US$6.5 billion.
Following the move, the bank will be rolling out a new brand marketing campaign across all markets it is present in coming months, starting with Singapore. This includes 10 video collaterals in a campaign which also comprises digital assets, print, out of home, cinema as well as content marketing.
Tribal Worldwide Singapore was involved in developing the work for the rebrand.
These different campaigns look to address the bank's different customer segments, Karen Ngui, head of DBS group strategic marketing and communications, added. This includes:
- "Live more, Be distracted less" which looks to display how customers can keep focused on things which matter.
- "Live more, Keep guessing less" to showcase banking which is direct, simple, intuitive and natural.
- "Live more, Be glum less" which reminds customers not to let anyone rain on their parade because banking is simple smart and covers everything you need.
- "Live more, do it alone less" as part of its DBS business class service which aids entrepreneurs and ensure they do not feel alone.
- "Live more, Miss out less" is part of DBS' iWealth service to allow customers to find opportunities, trade and sell share at anytime.
- "Live more, Pay less" meanwhile is linked to the DBS Lifestyle app.
- "Live more, Ouch ouch ouch less" which looks to showcase its services as personalised, customised and virtually pain free.
“As we have reimagined banking, we also have to re-imagine marketing. I think marketing in the past used to be how we [as marketers] interrupt you, for example through commercial breaks. But I think marketing today is how we immerse ourselves into what we do and truly understand what matters to you most,” Ngui explained.
The new campaign will also involve Singaporean Olympian Joseph Schooling, who recently signed a three-year partnership with the bank to reach out to next-generation Singaporeans through a series of community activities and social media engagements.
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The new brand promise reflects the belief that the digital era needs to deliver banking that is so simple, seamless and invisible that customers have more time to spend on people and things they care about. It also looks to encapsulate many aspects of the DBS brand and enable its customers to live hassle-free with invisible banking, seize life’s opportunities and living larger than themselves.
“With the digital revolution, banking is being fundamentally redefined. At 50, DBS banking is at a crossroads. The ‘Live More, Bank Less’ ethos embodies the belief that the bank needs to remain at the forefront of change in the next 50 years,” the statement added.
Since the introduction of “Living, Breathing Asia” in 2006, DBS has doubled in size, doubling its income to SG$11.9 billion and net profit to SG$4.39 billion. It has also more than tripled its market capitalisation, from SG$20 billion in 2006 to SG$75 billion today, the statement added. Currently it boasts to be the only Asia bank with a presence in three key axes of growth – including Greater China, South Asia and Southeast Asia.
Most recently, DBS came on board as investor for classified marketplace Carousell during its US$85 million Series C funding. This effort was co-led by Rakuten Ventures and EDBI, with participation from existing investors, 500 Startups, Golden Gate Ventures and Sequoia India. This was to accelerate Carousell’s product innovation and bolster its talent and deep technology capabilities to elevate the Carousell marketplace.
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