Burgan Bank's marketing strategy recognized as the best in the region

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Having contended with key players across numerous industries across the region in this category, the Bank was recognized for its innovation in marketing strategy, sustenance of the brand promise, customer insight and the overall impact of campaigns on market share and position.

The Bank was also shortlisted for the 'Corporate Social Responsibility Leader of the Year' Award category this year. Incidentally, Burgan Bank was also the only banking and financial institution to have made it to the final shortlist of the Marketing Strategy category at the 1st Annual MEBA Awards held last year.

The Awards - which uniquely celebrate Middle East industry leaders through the appreciation of innovative business practices, business excellence and overall business success - were presented during an elaborate Gala Dinner held at the InterContinental Hotel in Festival City, Dubai - and saw attendance from over 800 of the region's leading professionals and speakers from the 'Leaders in Dubai Business Forum'.

Having received the Award on behalf of the Bank, Burgan Bank Corporate Communications General Manager and Chief Marketing Officer Fadi Matar says, 'We constantly innovate upon our marketing communications to reach our audience through multiple touch-points and offer enhanced products and services. We are delighted to have been acknowledged as the best institution in the region for this Award category as it recognizes sustained marketing excellence in driving business performance.'

'We believe that the success of any marketing strategy lies in the strength and integrity of products and services offered as well as the brand elements. Stakeholder confidence and trust is an extremely invaluable asset with customers becoming all the more discerning, informed and making prudent banking and financial decisions,'

explains Fadi Matar.

'We've realized that a communications approach that bases its foundation in honesty, accuracy and simplicity is the most effective and enduring. We also firmly believe that both internal communications and external communications should be in consonance with the core principles of who and what we are as a banking institution.'

As Burgan Bank continues to conduct business in a multi-player banking and financial institutions space, its foremost focus centers around further fostering an enduring partnership with its customers and thereby enhancing its products and services to offer them a superlative banking experience based on trust and commitment.

'This, in a nutshell, is the foundation of our approach', adds Fadi Matar. 'It is the very basis upon which innovation, product development, marketing campaigns and customer service relations are built.'

This is evident through the corporate rebranding exercise that the Bank underwent over 2007, where a new corporate identity was adopted - one that stands for customer-centricity and which is reflected in our tag line - driven by 'you'.

Aligning all business verticals and fronts to customer-centric approach was already underway as part of a larger strategy - 'The Bright Future Project' - which was unveiled in 2006. As part of this strategy, all branches were classified and refurbished into three categories, each serving the specific banking and financial needs of different strata of customers - while the 'Solutions Branches' focus on offering customized advice key to making well-informed financial decisions (be it investments, loans etc) to middle/higher income customers, the 'Financial Center' branches also service private banking (HNIs), mass affluent (Premier) and institutional clients. The third category of branches - 'Transactions Branches' - cater to the basic banking needs of customers who are more transaction oriented as well as corporate clients (small and medium sized businesses).

'Our brand promise - which draws its essence from our brand positioning statement - of an enhanced banking experience, is reflected through our emphasis on convenience, flexibility and value-added benefits which serve as the key features of our product innovation process,' says Fadi Matar.

The MEBA Marketing Strategy category recognized a Middle East brand or organization that best demonstrates sustained marketing excellence and has driven business improvement over time. On a closing note, Fadi Matar adds that the Bank believes the Marketing Strategy Award played a key role in encouraging companies to objectively review and assess their marketing approaches, thereby serving as a forum that holds the potential to raise the bar of marketing excellence in the region.