Transcript Ithala Brand Audit 2012

Prepared for Ithala Development
Finance Corporation Limited
April 2012
0
Background and objectives
Our approach
Brand Audit Results
Optimal way forward
Understanding your business
Ithala Development Finance
Corporation (Ithala Group)
consists of many clients and
stakeholders who contribute
and impact on the brand.
In order for any business
to run successfully it is
important for all involved
to be aligned with its
values and vision.
Stakeholders
- Political bodies, Regulators,
Consumer protection bodies etc.
Internal audience
-Top management, Board committee, board members
Business partners
-Attorneys, auditors, Cash-in-transit companies, security, etc
Media
- Television – Radio – Print - Events – Alternative Media
Business clients
- 2000 businesses -1 700 tenants
Individual clients
- 50 000 current Ithala Ltd - 250 000 Insurance clients (individual and business)
2
Understanding your need for research
Before Ithala Group is able to develop a thorough communications strategy, they need to
verify if its vision (promoting development, diversity and improving the economy within previously
disadvantaged communities) is being communicated as effectively as possible.
It is imperative to understand current perceptions of the Ithala Group brand in order to shape future
strategy
“Probably the key long term
strategic asset of a company
is its reputation."
Cravens/Oliver/Ramamoorti 2003
“It takes many good deeds to
build a good reputation, and only
one bad one to lose it”
Benjamin Franklin
4
Business issue
Your business issue
To align stakeholder perceptions with the
Ithala Group brand vision to drive economic
growth for the company and economic
development and growth within
communities of KZN
5
Secondary objectives
1
2
3
Stakeholder Perceptions:
Brand Perceptions:
Brand Experience
How can Ithala Group improve
How is the brand portrayed in
Are products delivering as they
relationships with clients, internal
the media? Is the target market
should be? Are staff helpful and
colleagues and business alliances?
aware of the brand and its
competent? Are branches clean
What are stakeholder’s
product offering?
and welcoming?
perceptions of the brand?
Background and objectives
Our approach
Brand Audit Results
Optimal way forward
Methodology
In order to achieve your business
objectives, qualitative and quantitative
interviews were conducted
For the quantitative phase, we conducted
20 minute CATI interviews with the following
stakeholders:
For the qualitative phase, we conducted
in depth interviews – this is an unstructured
personal interview with a single respondent,
conducted by a trained moderator
Ithala Limited and Insurance n=151
Current
Lapsed
Non-users
Stakeholders n=5
EG: KZN Dept of Economic
Development, regulators, political bodies
etc
Business Finance and Insurance: n=77
Current
Lapsed
Non-users
Internal audience n=6
EG: EXCO, Board members, Union,
Board committee
Properties: n=84
Current
Business Partners n=6
Security companies, auditors,
attorneys, employment agencies etc
8
Sample
Other than the requirements mentioned previously, respondents had to:
•
Live in KZN
•
Be over the age of 18 years
In both methodologies we covered topics including:










Opinions and perceptions of Ithala Group
Personal experiences (users only)
Reputation in the market
Corporate Social Responsibility
Communication
Customer focus
Visual Triggers
Brand experience
Staff interaction
Product/ service offering
9
Background and objectives
Our approach
Brand Audit Results –
A quick TRI*M recap
Optimal way forward
Understanding and Managing Stakeholders
TNS’ Business Solution for Stakeholder Management
Monitoring
Implementation/
Change
Management
Measuring
Survey
Measuring:
Status of reputation
Current expectations
Identification of issues & risks
Action
Planning
Managing:
Analysis /
Reporting
Process
Analysis
Managing
Allocate responsibilities & resources
Set targets
Implement actions / communication
Monitoring:
Check effect of actions
Monitor changing expectations
TRI*M Index
The TRI*M Index is composed by 5 standardised questions
1
How do you rate the overall corporate reputation of Ithala
Group?
Overall
evaluation
2
How favourable is your opinion on Ithala Group?
Favourability
3
How much do you think you can trust Ithala Group in the long
run?
Trust
4
How do you rate the (economic) success achieved by Ithala
Group?
Success
5
How do you rate Ithala Group’s product and service quality?
Quality
TRI*M Index
Compared to the World Finance norm, consumer and property stakeholders are fairly positive
towards Ithala Group. Business Finance stakeholders rate Ithala Group far below other business
units.
High
Corporate
Reputation
100
80
67
60
Low
Corporate
Reputation
52
40
29
World Finance
Base
60
91 000
Ithala Limited
151
Business Finance
77
Properties
84
The TRI*M Corporate Reputation Typology
Relationship
Ambassadors
Sympathisers
Sympathisers show fairly strong
emotional affinity towards the company,
but don’t think it does a good job in its
core business, as product quality and/or
economic success is rated on low level.
Truly admire the company: They
like or even love it, highly trust the
company and think it does a great job
through offering good products and
being economically successful. Spread of
positive Word of Mouth is possible.
Competence
Rationals
Rejecters
Rejecters disrespect and dislike the
company. They are emotionally very
distanced and also don‘t think it does a
good job in offering good products and
being economically successful. Spread of
negative Word of Mouth is likely.
Rationals respect the company, but
are emotionally distanced. They attribute
a good job through offering good
products and being economically
successful to the company, while not
really liking and trusting it.
Typology - Ithala Limited
Half of consumers
think that Ithala Group
does a great job and
are likely to spread
positive word of
mouth.
However, a quarter
think that your product
quality is poor and 1 in
5 are emotionally
distant from the brand
TRI*M Index 60
Relationship
Ambassadors
49%
Sympathisers
25%
Rationals
8%
Rejecters
18%
n=151
Competence
Typology - Business Finance
TRI*M Index 29
Relationship
Nearly half of Business
Finance stakeholders
are likely to spread
negative word of
mouth – this is
extremely detrimental
to your business
Sympathisers
23%
Ambassadors
22%
Rationals
9%
Rejecters
46%
n=77
Competence
Typology - Properties
Half of your current
tenants are happy with
their experience with
Ithala Group
TRI*M Index 67
Relationship
However, a third are
not satisfied with the
way Ithala Group is
providing its
service/offering.
We hypothesis the
rejecters are driven by
the retail properties
Ambassadors
50%
Sympathisers
29%
Rationals
6%
Rejecters
15%
n =84
Competence
Background and objectives
Our approach
Brand Audit Results –
The Ithala Group brand
Optimal way forward
What do stakeholders perceive your vision to be?
3 key themes:
Bank the
unbanked
Most internal
stakeholders are
clear what the
vision of the Ithala
Group is
Serve the
community
A minority of
external
stakeholders are
aware what the
Ithala Group stands
for
‘The key thing is being
banker to the unbanked,
its creating access to
developmental and
infrastructure capital by way
of loans that the average
man in the province cant
get through traditional
banking channels’ (Internal)
‘They stand for the
promotion and
upliftment of the
previously disadvantaged
to establishing
organisations’
(Stakeholder)
Unclear
The majority of
external
stakeholders are
unsure what your
vision is
‘I don't think they have a
particularly clear vision because
my perception is that there are
always changes’
(Business Partner)
‘I don't think they know where
they are headed and that's my
understanding’ (Stakeholder)
19
TRI*M Grid Explanations
High
Performance
HYGIENICS
MOTIVATORS
The TRI*M Grid provides three dimensions
Performance of a quality element;
According to the “satisfaction”-section of the
questionnaire (symbols)
Stated Importance
,
Stated importance of a quality element;
According to the “importance”-section of the
questionnaire (vertical axis)
Impact on customer retention of a quality
element; Calculated by TNS (horizontal axis)
far
below
average
above
average
far
above
average
below
average
Low
average
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Corporate Reputation
Far below average
High
Far above average
---
--
-
++
+++
HYGIENICS
MOTIVATORS
Low
Core drivers
These aspects are top-of-mind and relevant for
the good reputation of the company. Top
Priority for any corporate activity that improves
perceived weaknesses in this field!
(New) options for communications
These aspects are already strong drivers for the
good reputation of the company but not yet topof-mind.
Communications should stress the importance of
these aspects and focus on existing strengths
and potential opportunities!
Stated Importance
High
TRI*M Grid Interpretation
Communication Basics
Aspects that are top-of-mind but do not really
drive the company's reputation (anymore).
Be aware of weaknesses but do not waste too
much time and money on strengths in this field.
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Corporate Reputation
High
Lower priorities
Aspects that do not yet influence the company's
reputation  focus on monitoring them!
Aspects that do not influence the company's
reputation anymore!
Brand experience
Ithala Limited
•
•
That information is easily available (Hygienic)
++
•
That information is useful and relevant
Both internal and external
stakeholders believe that the Ithala
Group is slow to make decisions
due to perceived red tape which
can be extremely frustrating
Business Finance
•
That information is easily available (Motivator)
++
•
That information is useful and relevant (Motivator)
++
‘Sometimes we find a
lot of delays due to
political processes and
political involvement
in the organisation’
(Internal)
Properties
•
To find the right person to help you quickly and easily
++
‘Ithala takes a heck of a
long time to approve
anything, it takes months
and months to try and get
an answer out of them’
(Business Partner)
(Hygienic/ Motivator)
•
++
That information is easily available (Hygienic)
Far below average
---
--
--
(Hygienic)
++
(Hygienic/Potential saver)
That queues are managed quickly and efficiently
-
++
+++
Far above average
22
Brand experience - Ithala Limited
Performance
Far above average
Above average
Base 151
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
A31
Communication Importance
Low
Brand experience
A31
To find the right person to help you quickly
and easily
A32
That information is easily available
A33
That information is useful and relevant
A34
Being able to choose the communication
method which suits your needs
A35
That queues are managed quickly and
efficiently
High
TRI*M Index 60
A35
A32
A33
POTENTIALS?/
SAVERS?
Low
A34
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Brand experience - Business Finance
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Brand experience
A31
To find the right person to help you quickly
and easily
A32
That information is easily available
A33
That information is useful and relevant
A34
Being able to choose the communication
method which suits your needs
A35
That queues are managed quickly and
efficiently
High
TRI*M Index 29
MOTIVATORS
A31
A34
A32
POTENTIALS?/
SAVERS?
Low
A35
A33
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Brand experience - Properties
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Brand experience
A31
To find the right person to help you quickly
and easily
A32
That information is easily available
A33
That information is useful and relevant
A34
Being able to choose the communication
method which suits your needs
High
TRI*M Index 67
MOTIVATORS
A31
A32
POTENTIALS?/
SAVERS?
Low
A33
A34
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Visual Triggers
Ithala Limited
•
Branches which are clean and welcoming (Hygienic)
•
A logo which can be identified easily (Hygienic)
•
A logo which reflects what the company stands for
+++
+++
•
Branches which are easily accessible (Motivator)
•
Marketing which shows strong corporate identity
(Potential/hidden opportunity)
++
(Hidden opportunity)
---
Business Finance
•
Branches which are clean and welcoming
+++
•
(Motivator/ hidden opportunity)
•
A logo which can be identified easily (Potential)
•
A logo which reflects what the company stands for
Branches which are easily accessible
+++
++
(Potential /Hidden opportunity)
Properties
•
Branches which have sufficient and visible security
+++
(Hygienic)
+++
•
Branches which are clean and welcoming (Hygienic)
•
A logo which can be identified easily (Potential)
Far below average
---
‘I am led to believe that
some of them
[branches] do need to
have some work done
in terms of, lets call it
an upgrade’ (Internal)
‘They don't invest in
their properties
anymore so the
maintenance is very
difficult to get anything
done’ (Stakeholder)
Overall there was a positive view of Ithala Group’s
visual triggers, but there are some who felt
maintenance could be improved
+++
--
--
(Motivator/ Hidden opportunity)
-
++
+++
Far above average
28
Visual triggers - Ithala Limited
A logo which reflects what the company stands for
Branches which are clean and welcoming
Advertising that is relevant
A logo which can be identified easily
Branches which have sufficient and visible security
Marketing which shows strong corporate identity
Branches which are easily accessible
Performance
Far above average
Above average
Base 151
Average
Below average
Far below average
HYGIENICS
Communication Importance
A24
A25
A26
A27
A28
A29
A30
Low
Visual triggers
High
TRI*M Index 60
MOTIVATORS
A25
A28
A27
A30
A26
A29
A24
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Visual triggers - Business Finance
A logo which reflects what the company stands for
Branches which are clean and welcoming
Advertising that is relevant
A logo which can be identified easily
Branches which have sufficient and visible security
Marketing which shows strong corporate identity
Branches which are easily accessible
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
Communication Importance
A24
A25
A26
A27
A28
A29
A30
HYGIENICS
MOTIVATORS
A28
A25
A26
A29
A27
A30
A24
Low
Visual triggers
High
TRI*M Index 29
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Visual triggers - Properties
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Visual triggers
A24
A logo which reflects what the company stands for
A25
Branches which are clean and welcoming
A26
Advertising that is relevant
A27
A logo which can be identified easily
A28
Branches which have sufficient and visible security
A29
Marketing which shows strong corporate identity
A30
Branches which are easily accessible
High
TRI*M Index 67
MOTIVATORS
A25
A28
A30
A27
A24
A26
POTENTIALS?/
SAVERS?
Low
A29
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Reputation in the market
Ithala Limited
•
Is open and honest with the public
++
(Motivator)
•
++
Has a true leader as CEO (Motivator)
Has a positive political influence from government
(Potential)
++
Is honest in the information it is giving
(Motivator)
•
•
•
Has top management who are trustworthy (Motivator)
•
Is a leader in the industry (Hidden opportunity)
-----
Business Finance
Business Finance stakeholders consider your
•
Earns a high degree of trust (Motivator)
---
reputation in the market to be extremely
•
Has top management who are trustworthy (Motivator)
---
negative, with low levels of trust and honesty
•
Has a true leader as CEO (Motivator)
---
Properties
•
Is honest in the information it is giving
++
(Hygienic)
•
Has a true leader as CEO (Motivator)
•
Has a positive political influence from government
(Potential)
•
Far below average
---
--
Earns a high degree of trust (Motivator)
-
++
+++
-----
--
Far above average
32
How do stakeholders perceive your reputation in the
market?
On the up
Internal stakeholders
are aware that changes
are being made in the
company and are
positive about the
future
Helping communities
Turning a corner
New management
Positives – internally
driven
Potential
Unique place in the market
Air of optimism
‘Ithala has got a good
reputation in the
communities...people have
still got confidence in
banking their money... a
bank that speaks their
language’
(Internal)
‘One of the legacies of
Ithala was lending money
to politicians and that was
stamped out two and a
half years ago and there
have been no further
advances to any politically
connected people’
(Internal)
The negative publicity
that shrouded the
Ithala Group still
influences your
business partners and
stakeholders
‘You read in the papers all
the bad things about Ithala
and you don’t often see in
the paper any good things’
(Stakeholder)
‘What concerns me is I think
there are always stories
about their financial security,
whether they are solvent or
insolvent so you never really
know what's going to
happen’ (Stakeholder)
Concerning
allegations
unease
corruption
Negatives – externally
driven
Mismanagement
‘There has been a whiff of
suspicion around Ithala
because there were a whole lot
of allegations put in the media
that...the politicians were
using it for their personal piggy
bank, using it to fund projects
that were not credit worthy’
(Business Partner)
Casts a shadow
Negative publicity
Reputation in the market - Ithala Limited
Performance
Far above average
Above average
Base 151
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
Communication Importance
Low
Reputation in the market
A01
Is open and honest with the public
A02
Has top management who are trustworthy
A03
Is honest in the information it is giving
A04
Is flexible
A05
Has a positive political influence from government
A06
Is profitable
A07
Has a true leader as CEO
A08
Earns a high degree of trust
A09
Is a leader in the industry
High
TRI*M Index 60
A02
A01
A03
A07
A08
A06
A09
A05
A04
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Reputation in the market - Business Finance
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
Communication Importance
A03
Low
Reputation in the market
A01
Is open and honest with the public
A02
Has top management who are trustworthy
A03
Is honest in the information it is giving
A04
Is flexible
A05
Has a positive political influence from government
A06
Is profitable
A07
Has a true leader as CEO
A08
Earns a high degree of trust
A09
Is a leader in the industry
High
TRI*M Index 29
A02
A08
A01
A07
A06
A04
A09
POTENTIALS?/
A05
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Reputation in the market - Properties
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Reputation in the market
A01
Is open and honest with the public
A02
Has top management who are trustworthy
A03
Is honest in the information it is giving
A04
Is flexible
A05
Has a positive political influence from government
A06
Is profitable
A07
Has a true leader as CEO
A08
Earns a high degree of trust
A09
Is a leader in the industry
High
TRI*M Index 67
MOTIVATORS
A04
A02
A01
A08
A07
A03
A09
A06
A05
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Summary of the Ithala Group
brand
The Vision
Brand
experience
Internal stakeholders
All stakeholders find
are aware of what the information easily available.
Ithala Group stands
for.
Consumer and Property
stakeholders feel that
The majority of
queues are managed
business partners feel
slowly. External
that the many changes stakeholders are frustrated
that have happened in
with the length of time
the company has
processes take due to
clouded the vision
perceived red tape.
Increasing efficiency is
crucial in repairing brand
image
Visual triggers
The offices, branches
and general look and
feel of the Ithala
Group is well liked by
all stakeholders.
A few external
stakeholders feel that
some premises could
benefit from an
upgrade.
Reputation in
the market
Due to harmful
information in the
press in recent years,
a large portion of
stakeholders still have
a negative opinion of
Ithala Group’s
reputation in the
market.
Ithala Limited and
Internal stakeholders
are optimistic about
the future of the
company
Background and objectives
Our approach
Brand Audit Results –
PR and Communication
Optimal way forward
Corporate social responsibility
Ithala Limited
•
Gives back to the communities in which it
++
operates (Hygienic)
•
Is socially responsible (Hygienic/Potential)
•
Demonstrates ethical business practices
++
Awareness of corporate social initiatives are not as well known as they
should be, with the exception of internal stakeholders.
Both business partners and stakeholders speak very positively when
aware of community work.
++
(Motivator/ Hidden opportunity)
Increased awareness will assist towards
building a positive perception of the Ithala
Group brand. Some Suggestions:
Business Finance
‘If they ran a business school,
if they encourage
businessmen, if they said ‘if
you have a certain skill, why
don't you open this kind of
business, we will provide the
finance for it’(Stakeholder)
•
‘I’ve seen them sponsor
a lot of events and I find
that a very good thing’
(Business Partner)
Maintains a high level of transparency and accountability
---
(Motivator)
•
‘Could assist with resources
to assist Grade 11 and
Grade 12’s in mathematics
and commerce... you would
always remember the
company that assisted you
so you would be a good
ambassador’ (Internal)
Far below average
‘They even go out to
communities and even the
CEO is on the forefront of
their campaigns. That tells
you they take communities
seriously’ (Business Partner)
---
Demonstrates ethical business practices (Motivator)
---
Properties
•
Gives back to the communities in which it operates
(Motivator)
--
-
++
+++
---
Far above average
39
Corporate Social Responsibility - Ithala Limited
Corporate social responsibility
Performance
Far above average
Above average
Base 151
HYGIENICS
Communication Importance
A14
Is committed to the communities in which it operates
Demonstrates ethical business practices
Is socially responsible
Maintains a high level of transparency and
accountability
Gives back to the communities in which it
operates
Average
Below average
Far below average
Low
A10
A11
A12
A13
High
TRI*M Index 60
MOTIVATORS
A14
A10
A12
POTENTIALS?/
SAVERS?
Low
A13
A11
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Corporate Social Responsibility - Business Finance
A14
Is committed to the communities in which it operates
Demonstrates ethical business practices
Is socially responsible
Maintains a high level of transparency and
accountability
Gives back to the communities in which it
operates
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
Communication Importance
A10
A11
A12
A13
Low
Corporate social responsibility
High
TRI*M Index 29
A11
A13
A12
A14
POTENTIALS?/
SAVERS?
Low
A10
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Corporate Social Responsibility - Properties
A14
Is committed to the communities in which it operates
Demonstrates ethical business practices
Is socially responsible
Maintains a high level of transparency and
accountability
Gives back to the communities in which it
operates
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
Communication Importance
A10
A11
A12
A13
Low
Corporate social responsibility
High
TRI*M Index 67
A13 A14
A11
POTENTIALS?/
SAVERS?
Low
A12
A10
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Communication
Ithala Limited
--•
Offers credible communication / information (Hygienic)
•
Has positive media coverage (Hidden opportunity)
•
Has adequate information available (Hidden opportunity)
----
Business Finance
It is extremely concerning that
•
Has positive media coverage (Hidden opportunity)
Ithala Group’s communication
•
Advises customers of price changes in sufficient time
with both the media and Ithala
(Hygienic)
Limited is considered to be below
•
Has adequate information available (Hidden opportunity)
-----
average
Properties
•
Advises customers of price changes in sufficient time
(Hygienic)
Far below average
---
--
---
•
Appears at public events (Potential)
•
Has adequate information available (Hidden opportunity)
-
++
+++
---
--
Far above average
43
What do stakeholders think of your
communication?
Internal
stakeholders
believe your
communication
is improving
External
stakeholders
think this is a
key area to
improve
Ithala has... ‘done very well with the
new change in management and
managing the environment within the
organisation’ (Internal)
‘The good stories are not being
communicated’ (Stakeholder)
‘They have definitely made great strides
on their communication front’ (Stakeholder)
‘I’m not aware of Ithala having any social
media presence’ (Stakeholder)
‘From being totally invisible Ithala has
become very visible. All sorts of other
initiatives like T-shirts that are being made
and getting the brand out there’ (Internal)
‘There’s definitely a communication
gap...I have received a few invites late
last year but...its the same old thing’
(Stakeholder)
‘There’s a lot of work still to do but I’m
very impressed with the trend and the
direction that they have taken in
raising the image and rebuilding
the brand equity of Ithala’ (Internal)
‘Today you may in fact be a hero,
tomorrow you could be a villain...must
be able to make sure that they’ve got a
dynamic communication’(Internal)
Stakeholder perceptions of your website
Both internal and external stakeholders
feel that improving your website would
be beneficial for themselves and
potential business partners
‘Information is
outdated...its not really
covering the issues, it can
be enhanced’
(Business Partner)
‘I think a lot can be
done, simplify things,
make it exciting’
(Internal)
45
The website ‘needs to
be improved...so
basic, so elementary,
I just don't find it
appealing’
(Business Partner)
‘If you’ve got a website that’s
not updated every day its not
worth having and in actual
fact, if a user doesn't find it
interesting to go there, they
will stop using it’
(Internal)
‘Its doing the job and its fine
but you know, your next step
there is to have a live feed
coming in saying what the
weather is like in KZN and
then maybe the temperature
but you could also have the
stock exchange’
(Internal)
Communication - Ithala Limited
Performance
Far above average
Above average
Base 151
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Communication
A15
Has positive media coverage
A16
Offers credible communication / information
A17
Has an appealing Web Site that offers useful
information
A18
Has adequate information available
A19
Appears at public events
A20
Advises customers of price changes in
sufficient time
High
TRI*M Index 60
MOTIVATORS
A20
A16
A18
A17
A15
A19
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Communication - Business Finance
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Communication
A15
Has positive media coverage
A16
Offers credible communication / information
A17
Has an appealing Web Site that offers useful
information
A18
Has adequate information available
A19
Appears at public events
A20
Advises customers of price changes in
sufficient time
High
TRI*M Index 29
MOTIVATORS
A20
A16
A18
A15
A17
POTENTIALS?/
A19
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Communication - Properties
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
Communication Importance
Low
Communication
A15
Has positive media coverage
A16
Offers credible communication / information
A17
Has an appealing Web Site that offers useful
information
A18
Has adequate information available
A19
Appears at public events
A20
Advises customers of price changes in
sufficient time
High
TRI*M Index 67
A20
A16
A18
A19
POTENTIALS?/
SAVERS?
Low
A17 A15
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
PR & Communication- Summary
Corporate Social
Responsibility
Knowledge of corporate social
initiatives is not as well known
as it should be. Ithala Limited
feel that Ithala Group is
committed to their communities
while Properties rate your
commitment to be below
average.
Business Finance stakeholders
think there is a lack of
transparency and ethical
business practices
Communication
Website
The negative way that
stakeholders perceive your
communication is problematic
for building your brand image.
This needs to be addressed as a
matter of urgency.
A key talking point of both
internal and external
stakeholders is your website.
Internal stakeholders are aware
of recent efforts and are
optimistic for the future,
however this area must be dealt
with in order to improve your
brand image
It covers the basic information
however the look and feel is
unappealing and outdated.
Innovation of your website
could become a key motivator
for your current business
partners and potential
stakeholders.
Background and objectives
Our approach
Brand Audit Results –
Products & Services
Optimal way forward
Product and Services
Ithala Limited
•
Products are of high quality (Hygienic)
•
Your application was processed efficiently
(Hygienic/ Potential)
•
++
•
++
•
Products are praised in the media/ press
(Hidden opportunity)
Products provide value for money
----
(Hidden opportunity)
Products are catered to what the customer needs
++
(Potential)
•
The price of products and services is stable
--
(Potential)
Business Finance
•
Products are of high quality (Motivator)
•
Processes run smoothly and efficiently (Motivator)
•
Your application was processed efficiently
++
•
++
Products are praised in the media/ press
(Hidden opportunity)
--
++
(Motivator)
Properties
•
Processes run smoothly and efficiently
(Motivator/ Hidden opportunity)
•
+++
Your application was processed efficiently
•
The price of products and services is stable
(Hygienic/ Potential)
(Motivator)
•
Products are praised in the media/ press
(Hidden opportunity)
Far below average
---
--
-
++
+++
----
Far above average
51
What did stakeholders say about your products &
services?
Lack of innovation
‘The feeling is that they are stagnating’
(Stakeholder)
‘They might be behind because of the
lack of innovation that is there, they
should be putting a lot of resources on
innovation’ (Business Partner)
‘You've got to some up with something
innovative, new ideas to improve the
facilities’ (Stakeholder)
‘They don't have a diversified product
offering portfolio, its too standard and
basic’ (Stakeholder)
Outdated
Both internal and
external
stakeholders felt
that there is a
lack of innovation
in your product
offering.
This needs to be
reviewing to
ensure product
offering is aligned
with the target
market’s needs
‘The industrial estate has not grown, it hasn’t
changed or any form becoming different since
1994’ (Stakeholder)
‘Banking products that it offers is not on par
with its competitors’ (Internal)
‘The products are
draconian...they don't have
the infrastructure and
support to upgrade the
products and that needs to
happen first’ (Internal)
‘I think they are
outdated... Maybe they
need to re-identify or
identify who their focus
group is or who the
customer is and be able
to provide the
appropriate products’
(Business Partner)
Did you know…?
Of the estimated South African adult population of 35million…
14 million are estimated to be unbanked
Cellphone penetration is at 92% and cellphone banking remains the biggest
opportunity for creating economic access to South Africans in remote
areas and lower income groups.
A breakdown of the demographic profile indicates that cellphone
penetration and cellphone banking already exists to some extent within the
lower income market, but would benefit from greater awareness and
education among the public.
A good example…
‘There is now no need for a new handset or SIM card, to send money you hand over the
cash to a registered agent (typically a retailer) who credits your virtual account. The
untapped market here is at the base of the pyramid - all the people who have no formal
address, no credit history, living in rural areas without credit card machines but with good
access to the cellular network.’
Source: Finmark Trust Presentation, n=3900 and www.worldchanging.com
53
Products & services - Ithala Limited
Performance
Far above average
Above average
Base 151
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Products/Offer
A45
Products are of high quality
A46
Products are catered to what the customer needs
A47
Processes run smoothly and efficiently
A48
The price of products and services is stable
A49
Products are original and creative
A50
Products are praised in the media/ press
A51
Products provide value for money
A52
A company offers a wide range of products and
services
A53
Your application was processed efficiently
High
TRI*M Index 60
MOTIVATORS
A47
A53
A45
A46
A48
A51
A52
A49
A50
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Products & services - Business Finance
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Products/Offer
A45
Products are of high quality
A46
Products are catered to what the customer needs
A47
Processes run smoothly and efficiently
A48
The price of products and services is stable
A49
Products are original and creative
A50
Products are praised in the media/ press
A51
Products provide value for money
A52
A company offers a wide range of products and
services
A53
Your application was processed efficiently
High
TRI*M Index 29
MOTIVATORS
A45
A51
A53
A46
A48
A47
A52
A49
A50
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Products & services - Properties
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Products/Offer
A45
Products are of high quality
A46
Products are catered to what the customer needs
A47
Processes run smoothly and efficiently
A48
The price of products and services is stable
A49
Products are original and creative
A50
Products are praised in the media/ press
A51
Products provide value for money
A52
A company offers a wide range of products and
services
A53
Your application was processed efficiently
High
TRI*M Index 67
MOTIVATORS
A45
A53
A48 A52
A51
A49
A46
A47
A50
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Customer Focus
Across all stakeholders, the focus on customers is
considered to be average, with no innovative
solutions to meet customer needs, and a
perception that Ithala Group will not go the extra
mile
Internal stakeholders give a suggestion…
Business Finance
•
Has a strong customer focus (Motivator)
‘We could spend a lot more
time staying very close to
our customers and talking
to them more’ (Internal)
++
Properties
•
Has a strong customer focus (Motivator)
Far below average
---
•
++
--
Goes the extra mile to ensure customers needs are
met (Potential/ hidden opportunity)
-
++
+++
--
Far above average
57
Customers - Ithala Limited
Has a strong customer focus
Offers innovative solutions to customer needs
Goes the extra mile to ensure customers needs
are met
Performance
Far above average
Above average
Base 151
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
Communication Importance
A21
A22
A23
Low
Customers
High
TRI*M Index 60
A21
A23
POTENTIALS?/
SAVERS?
Low
A22
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Customers - Business Finance
Has a strong customer focus
Offers innovative solutions to customer needs
Goes the extra mile to ensure customers needs
are met
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
HYGIENICS
Communication Importance
A21
A22
A23
Low
Customers
High
TRI*M Index 29
MOTIVATORS
A23
A21
A22
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Customers - Properties
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
Communication Importance
Low
Customers
A21
Has a strong customer focus
A22
Offers innovative solutions to customer needs
A23
Goes the extra mile to ensure customers
needs are met
High
TRI*M Index 67
MOTIVATORS
A22
A23
A21
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Staff interaction
Ithala Limited
•
Staff treat you with respect (Hygienic)
•
Staff explain the details of all the documents you
+++
have to sign in a way you can understand
(Motivator)
•
•
++
Staff give you the right information or advice
Staff promptly return your calls within reasonable
---
time (Motivator)
++
when you need it (Hygienic)
Business Finance
•
Staff have sufficient knowledge on products and
+++
Stakeholders are satisfied with the way
services they offer (Hygienic)
•
Staff give you the right information or advice
staff interact, finding them helpful and
+++
informative
when you need it (Hygienic)
•
Staff are approachable and willing to listen (Hygienic)
+++
Properties
•
+++
Staff explain the details of all the documents you
have to sign in a way you can understand (Hygienic)
•
services they offer (Hygienic)
•
(Hygienic)
--
+++
Staff treat you with respect (Hygienic)
Far below average
• Staff will go out of their way to keep their promises
+++
Staff have sufficient knowledge on products and
---
--
-
++
+++
Far above average
61
What did stakeholders say about staff interaction?
Overall, the experience with staff is a very positive experience
‘You get a sense that people in fact are willing to learn, they are willing in fact to
roll up their sleeves’ (Internal)
‘It’s the accessibility of the people
especially the senior
management...having an honest
discussion that at least you know what
you are dealing with’ (Stakeholder)
‘When you go to a branch of Ithala you are
lucky to finish business within an hour. You
have to be there for the whole day’
(Stakeholder)
Staff
interaction
is
primarily
positive
‘They are well informed, they are up to speed,
they know exactly how to help you and if they
can’t they know where to refer me’ (Stakeholder)
‘They’ve got a couple of
individuals that try hard to be
accommodating...but they are
wrist bound by red tape’
(Stakeholder)
‘Ones never quite sure which part of the organisation you are dealing with...who is
responsible for a certain thing’ (Business Partner)
The few negatives experienced are primarily driven by red tape and a lack of one contact
person
Staff interaction - Ithala Limited
A39
A40
A41
A42
A43
A44
Staff treat you with respect
Staff will go out of their way to keep their promises
Staff give you the right information or advice
when you need it
Staff have sufficient knowledge on products and
services they offer
Staff members are available when you need them
Your complaints are resolved with urgency
Staff promptly return your calls within reasonable
time
Staff are approachable and willing to listen
Staff explain the details of all the documents you
have to sign in a way you can understand
Performance
Far above average
Above average
Base 151
Average
Below average
Far below average
HYGIENICS
Communication Importance
A36
A37
A38
Low
Staff interaction
High
TRI*M Index 60
MOTIVATORS
A36
A44
A38
A39
A43
A41
A42
A40
A37
POTENTIALS?/
SAVERS?
Low
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Staff interaction - Business Finance
A39
A40
A41
A42
A43
A44
Staff treat you with respect
Staff will go out of their way to keep their promises
Staff give you the right information or advice
when you need it
Staff have sufficient knowledge on products and
services they offer
Staff members are available when you need them
Your complaints are resolved with urgency
Staff promptly return your calls within reasonable
time
Staff are approachable and willing to listen
Staff explain the details of all the documents you
have to sign in a way you can understand
Performance
Far above average
Above average
Base 77
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
A43
Communication Importance
A36
A37
A38
Low
Staff interaction
High
TRI*M Index 29
A38
A41
A39
A44
A36
POTENTIALS?/
SAVERS?
Low
A42
A40
A37
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Staff interaction - Properties
A39
A40
A41
A42
A43
A44
Staff treat you with respect
Staff will go out of their way to keep their promises
Staff give you the right information or advice
when you need it
Staff have sufficient knowledge on products and
services they offer
Staff members are available when you need them
Your complaints are resolved with urgency
Staff promptly return your calls within reasonable
time
Staff are approachable and willing to listen
Staff explain the details of all the documents you
have to sign in a way you can understand
Performance
Far above average
Above average
Base 84
Average
Below average
Far below average
HYGIENICS
MOTIVATORS
A41
Communication Importance
A36
A37
A38
Low
Staff interaction
High
TRI*M Index 67
A44
A36
A39
A38 A43
A40
A37
POTENTIALS?/
SAVERS?
Low
A42
HIDDEN
OPPORTUNITIES
Impact on Reputation
High
Summary of Ithala Group’s products and services
Products &
Services
Across the board, there is a
perception that Ithala Group’s
products are unstable, outdated
and there is a need for innovation.
Consumer and Business Finance
stakeholders find the product
offering more positive than
property clients.
Aligning your product offering with
the needs of your target market is
crucial. This is a key area where
you can increase loyalty and bring
new customers into the business
e.g. opportunity to move into cell
phone banking
Customer Focus
Staff interaction
Ithala Limited feel Ithala
Group’s focus on customers
is average with property
clients not feeling that staff
go the extra mile.
All stakeholders consider
your staff to be above
average, finding them
knowledgeable, helpful
and respectful.
Commitment to the
consumer can dramatically
improve the way the brand
is perceived.
The negatives that are
experienced are mainly
caused by the amount of
time processes take,
driven by perceived red
tape and political
influence
Background and objectives
Our approach
Brand Audit Results
Optimal way forward:
Stakeholder’s suggestions
Some suggestions from your stakeholders…
Products & services
‘They need to improve their processes first and then they can improve their
actual value proposition to customers’ (Internal)
‘Introduce more pay as you go type of options, like pay as you go
micro credit’ (Internal)
‘Maybe in the future they might consider perhaps selling shares to communities’
(Business Partner)
‘They might be a bit behind because of the lack of innovation that is there, they
should be putting a lot of resources on innovation’(Business Partner)
‘One of the biggest competition that makes or breaks the banks is your
information technology, and I think we need to be able to make sure that
there’s a lot of investment in that particular area’(Internal)
Some suggestions from your stakeholders…
Communication…
‘I think it’s not a strategic challenge, I think its a brand challenge that we need to portray to the
market in KZN that we are there to service everybody’ (Internal)
‘Our communication strategy need not necessarily only be about our products and service but
about Ithala, the institution itself and the process of change and transformation that is
taking place’ (Internal)
‘At a strategic level, when things come out about the way they run their bank and it becomes
national news, they also have to elevate their response to a national level’ (Business Partner)
‘They must raise and improve their brand equity but not through advertising, they must do it
by doing what they do better and communicate it – that's the best way to advertise
yourself’ (Internal)
‘I think Ithala needs to be more transparent considering its government owned’
(Stakeholder)
Some suggestions from your stakeholders…
The future…
‘The good thing is that I know that it has a new CEO and it looks like it might
be turning a corner’ (Business Partner)
‘There’s an air of optimism that Ithala might be turning a corner’
(Business Partner)
‘I’m not a negative guy and I do understand their constraints but it needs a new
broom to go in there’ (Stakeholder)
‘We must make sure that we pull out all our stops, we roll up our sleeves to
make sure that Ithala does not go down’ (Internal)
Stakeholders feel you have great potential…
‘They’ve done a good job on the rural banking – bring unbanked people to the
market’ (Stakeholder)
‘They fill a gap in the market that nobody else can...they could be the most
incredible force for good in our province’ (Business Partner)
‘In the niche they’re in, they have the potential to be one of the big players in
South Africa. If they take it seriously, and they should’ (Business Partner)
‘[Ithala Group]… should be seen as the vehicle that drives the economy on
behalf of the provincial government’ (Business Partner)
‘I think they have a very unique place in the market which if its done properly is
extremely valuable to our economy, you can’t replace Ithala’ (Business Partner)
Background and objectives
Our approach
Brand Audit Results
Optimal way forward:
Our recommendations
Growth Summary
Growth insights
The corporate reputation of Ithala Group is divided across business
units. Half of customers and tenants are ambassadors but a quarter
feel product/ service delivery is poor. Business Finance stakeholders
rate your reputation far lower than the world finance norm, with
nearly half rejecting the brand, creating a high barrier to
acquisition.
Historical damage to the brand is evident. Credibility is low and
there has been a loss of faith among tenants, and external
stakeholders but most strongly for your business finance unit. This,
coupled with the negative rating of internal and external
communication(including media coverage,) need to be addressed as
a matter of urgency.
Other areas driving negativity include an outdated product offering
in need of innovation and a lack of efficiency due to perceived red
tape.
In addition, awareness of the group vision and corporate social
initiatives are considerably low. Both present an opportunity to
generate positive media coverage.
Positive aspects to be maintained are visual triggers and staff
interaction. Majority of stakeholders enjoy the look and feel of your
branches/offices and consider staff to be knowledgeable and
helpful.
Precise plans for growth
Improving both performance and product offering needs to be
the foundation of a sustainable brand renovation.
Reviewing current product and service delivery will bring your
product offering in line with your target market's needs. For
instance, the cell phone banking service is an untapped
opportunity in the current financial market. Making money
accessible to the bottom end of the pyramid is both financially
beneficial and aligned with your vision.
Ensure every single touch point is a positive experience.
Attending to maintenance issues quickly will maintain the
positive image surrounding the look and feel of your offices/
branches. Consistently training and investing in your employees
will have positive repercussions on the overall brand
experience, as well as helping to maintain and motivate
talented employees.
The loss of credibility experienced in the business finance unit
needs to be a priority to resolve for the entire company. In
order to move forward, honest and open communication must
be available, negating negative word of mouth over time.
Reputation management is crucial going forward. Building
credibility through public goodwill such as CSI will result in
positive references, building the brand in a optimistic light.
Including your vision in all communication and keeping it
consistent will raise awareness of what the company is working
towards.
77
Thank you
78