Case Study: How Ornico Helped a South African Bank Become a Top-of-Mind Brand Through Advertising Monitoring
One of the now well-known brands within the South African banking industry became the top-of-mind brand in the country. They achieved this by gaining insight into competitor advertising strategies and taking advantage of the gaps in the market.
Situation
Ornico began working with one of South Africa’s largest banks, which wanted to know how to cut through the advertising clutter and have a strong brand recall within the South African market. Even more so, this banking institution had a far less exorbitant advertising budget than its more established and generational banks.
The bank had significantly innovated its business structure. They introduced new technologies that gave their consumers more control over their banking experience. While their unique selling proposition (USP) was sufficient to convert customers, they needed a more effective way of getting the message out.
The best way to achieve this was by adjusting their advertising strategy. Naturally, advertising is an expensive exercise, and without a well-thought-out strategy, the return on advertising spend (ROAS) is not guaranteed.
This bank wanted to know how to get their money’s worth out of their advertising. That is, gaining a share of voice and achieving this with a far less exorbitant budget compared to its competitors.
The bank connected with Ornico, which provides advertising monitoring and value-added products such as adspend analysis and advertising creative evaluation insights. Ornico even takes it a step further by offering advertising data in conjunction with consumer data. The data enables you to identify the channel and the medium used by your competitors when advertising their products and highlights the gaps in the market. This allows the brand to identify its weaknesses and find opportunities within the gaps in the market. This saves the marketing team time and money and solidifies their position in the strategic planning of the brand.
Ornico provided a comprehensive solution that gave the bank strategic advertising insights, enabling them to develop more meaningful advertising and gain a competitive edge that put them years ahead of their competitors.
Solution
Since the partnership began, Ornico has provided the bank with all-inclusive advertising data, from competitor adspend, to their chosen advertising channels and mediums, all through advertising monitoring. Ornico has also gone the extra mile to combine this data with consumer data to provide a holistic view of advertising performance.
Ornico has a database dating back 40 years showcasing competitor advertising. This library of ads allows our clients to do two things – to see where they came from (so as not to repeat the same mistakes) and to determine future strategies and identify gaps in the market.
Because of advertising monitoring, the bank could determine that its competitors prioritised television advertising and neglected other mediums. The bank quickly realised that they stood no chance of matching their competition’s advertising on television due to budgets. The bank found an opportunity to run radio ads instead, a channel they had little to no competition in, giving them a significant share of voice.
In addition to helping identify gaps in the market, Ornico’s advertising monitoring allowed the bank to continually identify new breaking ads, keeping track of their competitors, their advertising messaging, and overall new developments within the industry. This information helps the bank improve its advertising strategy for the best ROAS.
All the information that Ornico captures is actionable and easy to access through an easy-to-understand platform and email alerts. It supplies the bank with clear insights from all channels – radio, television, print, online and OOH.
The partnership between the two companies remains strong, with close collaboration that leverages Ornico’s expertise. Ornico’s advertising monitoring and analysis helped in improving the bank’s advertising strategy.
Ornico is The All in One Brand Intelligence® solution built for marketing professionals first. Take control of all your brand needs with creative monitoring, media monitoring, ad spend measurement, creative evaluation analysis, reputation management, crisis and risk management and competition analysis – all in one place. Hello, Brand Intelligence®. Book a demo today
