Cheers or Tears! To a New Fidelity Bank
I knew Fidelity bank was up to something interesting and probably jaw-dropping when I saw the #NewFaceofService trending a couple of days on twitter. If you will agree with me, Fidelity bank just like many other brands today, is long overdue for an image refreshing. Many still look like a 12 month Old pregnancy.
One thing that stood out in the bank’s new identity is the acknowledgment of their position in their space and the need to meet up with the increasing demands in the financial institution particularly the ones set by their competitors. It seems Fidelity bank heeded to the points noted in my previous article on FCMB and ensured they didn’t fall into that error.
First is the fact that they literally sent a note of warning to its market that they weren’t ready to play second fiddle to any brand. This was well captured in their vision which states to be the No. 1 in every market they serve. Simple but powerful and anything short of that is a no no. I believe a brand that is concerned about satisfying me as a consumer must first be ready to battle other forces that demand my attention.
Second is establishing a connection with the Youth market, it was quite clear that Fidelity bank left no stone unturned in its brand strategy and in fact gave more priority to the stone with the largest potential-The Youths. This was the same stone a builder rejected.
The bank’s interest in the future of their brand is seen in their choice of a strong, promising and youthful logo with a trendy font. Even though there exists many mixed feelings as to the choice of colour and shape of the logo. The Group managing director points out that a bank that fails to connect with the youths today will lose tomorrow. This for me reflects a brand that clearly knows what it is doing and where it is going.
Fidelity Bank’s new identity shows that it is not just concerned about connecting its past with the present but also remaining relevant tomorrow. The power to remain relevant today and tomorrow rest in developing and maintaining a strong connection with the teeming digital natives.
Next is it good use of its digital platforms during and after the unveiling, it would be quite abnormal and appalling to develop a plan geared towards reaching the youths without the use of digital platforms. Fidelity bank though young in its identity change has been and is still very good in its use of social media and some digital tools trending the #NewFaceofService- This hashtag if it had been properly thought through would have led to a better, simpler and original tag but that is what you get when an Ad agency tries to do the work of a Digital agency.
Is it impossible for a brand to change identity without using words like ‘new face’ ‘new look’ etc. I mean! Your consumers can obviously see that it is new! Why state the obvious?
Co-creation and co-acting with the consumer should be the next on the priority list of Nigerian brands. It will be weird to still find a brand who still relates with its consumer as a passive entity. (I know there are, it can only get better).
This change in identity captures the shift of Fidelity bank from its conservative past to a progressive and proactive future. According to the GMD, the new identity is a reminder of its rich background, with its history inspiring its future. The new colours of green, blue and white represents a fertile, transparent, vibrant and energy-driven organisation.
On a final thought, starting is good but ending well is better, many brands have invested a lot of capital into revitalizing their image but lost out in the long run due to the absence of a clear, feasible and sustaining strategy. I believe Fidelity bank shouldn’t roll out the same old expected and redundant ‘after rebranding’ campaigns but should develop fresh and innovative campaigns.