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Strategy - Branding - Marketing
More bang for the buck: Citi Marketing.
April 6, 2015

All these comments are in the context of the Indian market but am sure will also apply across global markets where market / consumer trends are similar
There has been silo marketing at CITI which has caused the CITI marketing dollar to be spent in silos as also communicated in silos with the result that in one family unit, there are different CITI arms talking to different CITI consumers without either the other CITI arms or for that matter the other CITI consumers knowing that they are being talked to separately: this cause unit fragmentation and an increase in the marketing spend besides which we can’t even capture the positive world-of-mouth to either garner more revenues or stem consumer fatigue
The unit can be a huge driver of single CITI SOURCE products which can then be hawked as a family-to-family deal: from the CITI FAMILY TO YOUR FAMILY where you immediately build bonds between the bank and the family unit: something that is not happening in India today: in fact even lapsed users of one product within the same family unit co-exist with current CITI consumers in the same unit even though we could have used the latter to re-build the relationship
With the silo approach, the products come first and the pipeline later: with the approach I suggested to Ajay, the pipeline came first: which means the consumer bucket drives the product configuration: something that will not only help drive better value but also effectively control spends in marketing terms: the critical benefit of this approach is it helps build relationship in a market where there is great product parity and no real product-emergent benefit of an overarching type
There is also greater need for us within the Indian marketplace to look at an emotional re-statement of how we’ve helped change people’s lives and actually use our 100 year legacy to greater advantage than just be perceived as yet another foreign bank
Which is why appealing to the family unit both in terms of the products we configure as also in the communication we send out needs to be sharply re-aligned: we also need to create communication magnets which we have not done till date: CITI FAMILY ROOMS on our website, family products that act as insurance against consumer attrition from some of our more parity businesses such as credit cards and so on
Finally, there needs to be a business re-orientation: currently CITI thinks through SBU’s and then targets the consumers which needs to be flipped if we are to become part of the consumer’s DNA

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