BRAND EXPERIENCE ANALYSIS RBC ROYAL BANK OF CANADA Terrence Ma Taylor Ward Jeffrey Qua Ariana De Ryss
TABLE OF CONTENTS ROYAL BANK OF CANADA VISION AND VALUES SLOGAN TIMELINE HISTORY - LOGO TIMELINE RBC S CURRENT STATE BRAND APPROACH & MESSAGE WELCOME ARBIE COLLABORATIONS COMMUNITY STANCE TOUCHPOINTS 3 4 5 6 7 8 9 10 11 BRAND EXPERIENCE WHAT IS BRAND? WHAT IS EXPERIENCE DESIGN? 12 13 ZIBA AGENCY INTRO TO ZIBA WHY WE CHOSE ZIBA ZIBA METHODOLOGY LOOKING AT ZIBA S WORK WORK IN DIFFERENT CULTURES OUR APPROACH 14 15 16 17 18 19 REFERENCES 20
RBC ROYAL BANK OF CANADA VISION & VALUES RBC or the Royal Bank of Canada (Banque Royale du Canada), is also known as RBC Royal Bank or the RBC Financial Group. It is the largest financial institution in Canada in terms of assets and market capitalization. RBC currently employs approximately 80,000 employees serving a client-base of almost 15 million personal, business, public sector, and institutional clients. With offices in Canada, the United States, and 51 other countries, RBC services an international market with a strong focus of its roots in Canada. They are one of the top 20 largest banks globally in terms of market capitalization. RBC s statement of vision and values expresses their priorities of client relations and company wide growth. VISION Always earning the right to be our clients first choice CORE VALUES Excellent service to clients and each other Working together to succeed Personal responsibility for high performance Diversity for growth and innovation Trust through integrity in everything we do 3
SLOGAN TIMELINE RBC 1931 YOU WILL LIKE BANKING AT THE ROYAL 1950 YOU CAN BANK ON THE ROYAL 1957 THERE'S NOTHING QUITE LIKE MONEY IN THE BANK 1960 SEE HOW PLEASANT BANKING CAN BE AT THE ROYAL 1961 THE BANK WITH A 1,000 FRONT DOORS 1969 WE LIKE TO TAKE CARE OF YOU AT THE ROYAL BANK 1970 THE HELPFUL BANK 1971 WE RE APPROACHABLE 1979 WHEN YOU SUCCEED... WE SUCCEED 1980 CAN DO! 2004 FIRST FOR YOU 2008 2010 SIMPLIFY YOUR BANKING. SIMPLIFY YOUR LIFE ADVICE YOU CAN BANK ON 4
HISTORY LOGO TIMELINE Originally founded in Halifax, Nova Scotia as the Merchants Bank of Halifax in 1864, RBC did not have it s current name until 1901 when the name was officially changed to Royal Bank of Canada. The national expansion of the bank moving further into Canada resulted in the change to the company s eventual and current name as well as a shift of the headquarters from Halifax to Montreal. This resulted in the development of a brand new logo to go with the new identity. The first logo for the company was a three-mast sailing ship with an auxiliary engine. This choice was due to the founders being well-established maritime merchants and the ship symbolized on the logo was a modern ship at the time. The secondary logo for the new Royal Bank identity was an emblem that resembled the British Royal Coat of Arms in order to focus on the Royal idea and name. As RBC s website states it, the royal insignia lent the desired symbolism of tradition, strength, and stability. This logo lasted until 1962 when the emblem was simplified, but retained the heraldic symbolism and motif of the previous logo. The only remaining elements were the lion and the crown. These were used to preserve the character of dominance and strength, keeping the royal symbolism of tradition and stability. The one element added was the globe to represent their expansion into the global market. This design forms the basis for RBC s strong brand identification with the Lion and Globe. The 1974 logo was a minor redesign. No major elements were cut, but rather detailing lines were removed, modernizing the logo. The applied changes facilitated the logos use in signage. 5
CURRENT STATE RBC BRANDING BRANDING SINCE 2001 bottom and blue background were added to suggest the form of a shield. It implies the idea of security. Clearly retaining the lion and globe design, the removal of the crown and the change in position of the lion to the left was meant to represent RBC s shift into the US and international markets and create a forward-facing with their growth strategy within North American and international markets. RBC Financial Group was also created as part of this identity shift in order to have a master corporate brand among their CONSOLIDATION OF SUBSIDIARY COMPANIES UNDER ONE PARENT COMPANY With the establishment of their new logo, RBC inscribed their umbrella identity RBC Financial Group. With this newly distinguished brand, both RBC and all of it s subsidiaries including RBC Royal Bank, RBC Global Asset Management, RBC Insurance, RBC Wealth Management, RBC Capital Markets, RBC Global Asset Management RBC Wealth Management RBC Financial Group RBC Royal Bank RBC Insurance RBC Capital Markets 6
BRAND APPROACH & MESSAGE BRAND RECOGNITION WITH AUDIENCE RBC understands the baby boomer generation and looks to create a successful brand link with this market. Upon Little s appointment as Brand Director, the company moved to focus on their target audience through internal business synchronization and alignment with their Canadian roots. They developed the icon Arbie to raise brand recognition and gain empathy from consumers. They also strengthen brand recognition by sponsoring interests like golf, environmental issues, and arts that resonate with the baby boomer generation. WARM. ACCESSIBLE. ADVICE BASED PROPOSITIONS. 7
WELCOME ARBIE GIVING A FACE TO THE COMPANY In 2007, RBC s brand research suggested the brand needed more warmth, more accessibility and more advice-based propositions. In addition to this, the research revealed a problem with linking the brand to an icon that would raise our brand link but also inject some empathy, states Jim Little, Creative Director at forming a personal connection with RBC. He was originally created to be a minor component of their advertising campaign, merely meant as an iconic memory element. Now, Arbie stars in all RBC s product ads, from credit cards to mortgages, a spotlight on TV commercials and also highlighted on in-branch print. We now have 92% brand link with Arbie, Little says. 8
COLLABORATION BRAND STEWARDS BBDO CAMPAIGN IMAGES & MATERIALS RBC worked in collaboration with BBDO to develop RBC s desire to be a warm and accessible brand. BBDO worked with Jim Little (RBC Chief Brand and Communications Officer) to create Arbie, a personification of the banks advertising for the Beijing Olympics in 2008, featured in a range of ads from print to television commercials. The character s success inspired his continued use in new commercials and campaigns. RBC still continues to collaborate with BBDO for their advertising campaigns. CLOUDRAKER AGENCY BLUE WATER PROJECT RBC HOCKEY PROGRAM Cloudraker Agency was brought in to reinvent the way RBC approached Corporate Social Responsibility (CSR) campaigns. They found Arbie resonated with Canadian citizens, so carrying him into the Blue Water project beyond his Beijing debut. Blue Water Project is a long term project to raise awareness of water preservation both internationally and locally. RBC presented only the funding, but grant recipients present and educate audiences about their cause, through through Blue Water s online social media platform. As such, the heart of the cause, the recipients, initiating the conversation. When we discussed ways to tell the story, we all agreed that RBC was going to be the host, but that the grant recipients were ultimately the ones who would drive the conversation. The let s do good then spend a bunch of money telling people about the good we did model is outdated and consumers see through it. - Christina Brown 9
COMMUNITY STANCE COMMUNITY TIES AND THE FLAGSHIP PROGRAMS sponsorship projects, Jim Little says is driven by the corporations brand focus on the baby boomer generation. Known as the boomer proxy RBC strategically invests in their Canadian cultured roots, and local communities. Investing millions in 6 major areas with community, sustainability, and responsibility (Vibrant Communities, Sustainable Project, RBC After-School Grants Project & RBC Emerging Artists Project. 10
TOUCHPOINTS FORMS OF SOCIAL MEDIA 12 Websites 3 Youtube Channels 14 Twitter Handles 4 Facebook Pages 1 iphone App - RBC Mobile 2 ipad Apps - RBC Canada RBC has several touchpoints at which customers and clients can interact with the bank. The most obvious ones are retail branches, ATMs and telephone banking. RBC also offers online banking on their website at www.rbc.com. In addition to their banking services, RBC reaches out to the community in the form of donations and sponsorships. RBC has numerous websites for its various services and different business platforms. RBC also has a strong digital presence with social media having various accounts on Facebook, Twitter, and Youtube channels. 11
WHAT IS BRAND? THE DEFINITION ZIBA S VISUAL BRAND LANGUAGE slogan, logo, or symbol that strongly correlates to a company s brand identity. Elements that are the personality that is associated with the product, service, and company and how it connects with customers and the various brand stakeholders. Any types of emotional or experiential aspects that occur at any one of a brand s many touchpoints such as thoughts and feelings are considered as brand experience. brand objectives. It is developed through a deep understanding of customers, perceptions of the brand, desired brand personality, desired and competitive brand positions, and the characteristics for the desired build and design a new and authentic brand experience. WHEN A BRAND TRULY KNOWS ITS DNA AND INTIMATELY UNDERSTAND ITS CONSUMERS, THERE IS A SWEET SPOT WHERE THE TWO OVERLAP. THIS IS WHERE BEAUTIFUL EXPERIENCES LIVE. -SOHRAB VOSSOUGHI 12
WHAT IS EXPERIENCE DESIGN? THE DEFINITION ZIBA DESIGNING BEAUTIFUL EXPERIENCES Experience design is the development of a product, service, environment and any point where a consumer can have a moment of engagement. In the context of designing for a brand, experience design deals with the creation of how a person interacts with a brand s various touchpoints. According to Nathan Shedroff, a pioneer in the field of experience design, The most successful experiences are meaningful. By creating experiences that are meaningful, a brand can create deep connections with people that speak on a personal level. This is the goal that experience design aims to create. Ziba approaches experience design with the mind set of designing products or services that create meaning with a target consumer and not just designing something for the sake of design. They use a three-stage process to begin the experience design process. First, understanding a Brand s DNA to realize their core brand identity. Second, identifying the target consumers. Third, ascertaining existing trends. Through this process, Ziba has the ability to figure out a brand s strengths and then create an experience that answers a clear need and matches patterns of trends occurring in the consumer experience context. This is Ziba s methodology for, as they phrase it, designing beautiful experiences. TARGET BRAND DNA TREND 13
INTRODUCTION TO ZIBA MAKE THEM LOVE YOU. ZIBA WORKS AROUND THIS IDEA TO IMPROVE THEIR CLIENT S TOUCHPOINTS. MEANING & AUTHENTICITY authentic experiences with their products and services. To understand the customers so they can determine what is considered meaningful to them. Taking an honest approach and staying true to the brand s values and beliefs. In order to guide consumers to adopt it and love it. INTEGRATION Ziba aims to integrate products and services seamlessly and consistently into their customer s experience. Consistency is key in maintaining how each touchpoint aligns with the brand s promise. By doing this, they can meet customer needs and earn their trust, cultivating experience with their brand. MAKE IT REAL In the end innovation stems from great ideas. But they have to be real in the physical and digital realm of design come into play, implementing ideas into touchpoints for the best possible experience. 14
WHY WE CHOSE ZIBA GIVING BRAND A FACE TO TELL A CONVINCING STORY, YOU NEED AN IDENTIFIABLE CHARACTER - CARL ALVIANA, ZIBA DESIGNER Ziba believes IXD word is important but it is often misunderstood by a broad audience. Interaction design lacks a narrative that communicates to people outside the profession. It may be because that interaction design is a young profession, or that our tools and skills evolve rapidly with technology. It may also be that there is a lack of an identifiable character. Other design professions have established characters that relate to a broad audience. Architects are stereotyped lurking over physical models, and graphic designers are stereotyped playing with a Wacom tablet. The lesson here is that a character with a set of traits can help identify a larger group. As stereotypical as it sounds it is a method that can help brand a business. RBC has already begun this methodology by applying the mascot Arbie to different advertisements. RBC hopes to make their brand more empathetic toward audiences, and that they identify with Arbie that links to the larger group, RBC. Choosing ZIBA we want to use their ideals with character and an identifiable face to push the brand of RBC using what they already started with Arbie. 15
ZIBA METHODOLOGY TOUCHPOINT APPROACH Ziba reveals how they manage to keep their clients apart from the rest of the experience correct, because if one is faulty, the sea of competitors will sweep in and do it better. Acknowledge the bigger universe of competitors, seek out comparable experiences, and blur the lines. KNOW COMPETITION By acknowledging a bigger universe of competitors, they learn and understand the other businesses that the consumer may compare their clients with. One cannot assume the customer loyalty of a consumer, the business has to earn it. Every touchpoint needs to be adapted with this in mind. SEEKING EXPERIENCES Seeking out comparable experiences means looking beyond the context where the client lies. Ziba determines what the consumers clients really experiences. BLUR THE LINES Ziba then blurs the lines to innovate their clients touchpoints. After seeking comparable experiences, they spot the underlying principles that can be applied to their clients touchpoints, even though those 16
ZIBA APPROACH THINK TO MAKE TRENDS SLOW & LOCAL LOOKING AT ZIBA S WORK UMPQUA BANK USING TRENDS SEEKING EXPERIENCES PERSONAL & INTIMATE Ziba worked with Umpqua to improve their banking experience. Umpqua already improves customer experience by building relationships, not transactions. Ziba applied comparable experiences to this intimate setting Umpqua has created. They merged localism and slow movement trends into Umpqua s touchpoints. For example, implementing ideas from hotel lobbies and coffee shops, letting the customer know they can linger through this metaphorical interpretation. BLUR THE LINES HOTEL LOBBY & COFFEE 17
WORK IN DIFFERENT CULTURES LI-NING RETAIL SPACE USING CULTURAL HERITAGE ZIBA APPROACH THINK TO MAKE CULTURAL HERITAGE SOCIAL PARTICIPATION Initially, Li-Ning built themselves up as a Western-style brand that resonated with that particular culture, but did not inspire youth from their own culture. Ziba researched modern Chinese consumers to gain insight on their cultural heritage. According to research, Chinese youth are overwhelmed by choice and actively seek role models and cultural cues to guide them to meaningful experience. In Chinese culture, sports are an expression of modernity and a solution Li-Ning needed was to evoke Chinese heritage through their retail experience. Ziba helped Li-Ning portray social cues and role models through social hubs and Olympic motifs. SEEKING EXPERIENCES BLUR THE LINES SOCIAL CUES ROLE MODELS SOCIAL HUBS OLYMPIC MOTIF 18
OUR APPROACH TAKING FROM ZIBA S METHODS AND PRECEDENTS. Look at popular trends that resonate with RBC s brand. Research and understand RBC s Canadian heritage. Continue RBC s efforts by pushing an identifiable character. POTENTIAL STARTING POINTS TRENDS CULTURAL HERITAGE PROCESS KNOW COMPETITION SEEKING EXPERIENCES BLUR THE LINES 19
REFERENCES www.rbc.com www.rbc.com/history/leo/index.html www.rbc.com/investorrelations/pdf/ar_2011_e.pdf www.rbc.com/investorrelations/pdf/rbcglanceq32012.pdf www.rbc.com/newsroom/brand.html www.ziba.com Designing Meaningful Experiences. Shedroff, N. (2011) AIGA CT 2011 http://www.nathan.com/thoughts/meaningfulexperiences.pdf Designing Beautiful Experiences -Sohrabum Vossoughi, 01 Jan 2010 http://www.ziba.com/#/perspectives/article/designing-beautiful-experiences/ Where is the Love? Authenticity in the 21st Century -Sohrab Vossoughi, 04 Dec 2007 http://www.ziba.com/#/perspectives/article/where-is-the-love/ Is Authenticity in the Eye of the Beholder? -Henry Chin, 02 Dec 2007 http://www.ziba.com/#/perspectives/article/eye-of-the-beholder/