After the Management-Buy-In, how do you reinvent the image of an organisation and reposition it within the marketplace?
How do you change perception & create market awareness and new patronage?
The Access Bank Brand
Access Bank, a full fledged commercial bank, was established in February 1989. In 2002, a Management-Buy-In occurred, resulting in a new Executive Management team. The new Management expressed a desire to reposition the bank to bring dynamism and fresh initiatives to the marketplace and they turned to Alder.
We held a strategy session with the senior management of the bank to determine the bank’s desired brand positioning within the marketplace. The brand attributes (personality and voice) were crafted to guide communication of the bank’s new direction and core competencies.
FAD analysis was conducted to identify potential factors that could negatively impact the brand. And SWOT analysis was carried out to determine the chances of success of the brand.
A new logo was designed to reflect the bank's new personality, direction and objectives. As a natural progression, Access Bank’s visual identity materials comprising of letterheads, envelopes, business cards, account opening documents, and the like were also redesigned.
A brand manual summarising the values & concepts that would drive the bank was developed as a reference and induction tool for employees. An annual report communicating the bank’s new visual identity was also designed and produced for the bank
A launch strategy was put in place to guide the formal introduction of the bank to its publics. This strategy was based on a relationship model, rather than an events-oriented one.
Access Bank's transformation was largely successful and the share price has remained strong since the Management-Buy-In.
About Access Bank
Access Bank Plc is a full service commercial bank operating through a network of branches located in the major commercial centers of Nigeria. The Bank was incorporated in 1989 as a privately owned commercial bank and was listed on the Nigerian Stock Exchange in 1998. In January 2002, Access Bank Plc was successfully recapitalised and new management, led by Messrs Aigboje Aig-Imoukhuede and Herbert Wigwe, was put in place to reposition the Bank as one of Nigeria's leading financial institutions.
