Executive Interviews: Interview with Anil K Khandelwal on Rebranding Strategies of Bank of Baroda
June 2006 - By Dr. Nagendra V Chowdary

Dr. Anil K Khandelwal
Chairman and Managing Director Bank of Baroda

Its recall value is good and it also has a certain degree of international acceptance in the sense that the sun is recognized the world over. Most international logos are on alphabets. I think our logo itself has become a benchmark. Now, I'll put it this way. You see many things during the change process. We do few things correct, few things wrongly, and few things click beyond your imagination and expectation. Our logo launch has been one of those. And then in combination three things have worked. One is the timing in terms of the need for change. Everyone was restless something should happen, something new. And I think you may do technology, but only corporate office is doing technology. Others are recipient of technology and they are struggling to learn. Other changes could be such that they may affect employees in terms of doingmore work or learning something new. I think it created least pressure on individuals. It was more of watching aatish baazi kind of a thing, everyone enjoys it. It created no pressure on employees. Any change that creates change of attitude in the individual creates resistance. Any change that creates some pressure for new learning can create some resistance.Any change that can cut your power or perquisite can create resistance. I think revelation of your new logo and a brand ambassador can't create pressure on the individual. Rather, it became a celebration of change as I see in hindsight and therefore people have started seeing this as sort of both time pass and people started speaking positively about it.And the launching was very well handled if I can take a little credit for that, that we had a very highly power launch. First day launch, it was comparable to any multinational brand launch, which was good. RD's association was great. The press coverage was excellent and high powered advertising campaign including TV films, they were all first rate. Another thing that played in our favor could be that people expected it least from a public sector bank a high profile launch, a high profile brand ambassador, a high profile ad campaign. All these cumulatively added up to lend a different kind of aura.

• One is to market or send signals to market externally, but how was it doing internally amongst your 40,000 employees? How did youmarket this entire change, the re-branding, and other initiatives that you have taken up?
  I wrote a letter to our 40,000 employees. Our marketing chief conducted a variety of seminars in various locations. The significance of logo was explained, the 'Baroda sun'. I think the sun is a very respected symbol and calling it the Baroda sun created a sense of pride in people. In fact, we went to the extent of branding the sun itself. I think this Baroda sun was the key as it gets very fast into one's system. And sun itself symbolizes energy, power and brightness. So we threw a very powerful internal communication. We also brought out a house journal, especially devoted to brand launch. A couple of things have been done. Also as I said, we wrote to all the employees and conducted training programs.

• How much time did it take for you to communicate to all your employees internally?
  Just imagine it was twomonthswork.Only two months work. I give credit to our people because many things were happening simultaneously. Don't forget in public sector we've to follow all procedures. It is not that I choose X and say Ok, do this. All procedures have been followed and all the turmoil that go with following procedures, they've experienced and I am sure my people in marketing can share as to how every day that is passing, everyday they are making a promise to me, and trust me, internally I had decided to extend the date by two months. But, I am very proud ofmymarketing teamthat they did not let down my expectations. It was an amazing experience. I can say, out of several initiatives after my coming, I would rate this as the one that has given me maximum satisfaction and as the one which has given maximummileage to BoB. Because, wherever I go, they shake hands and say "Oh, you've launched a new logo, it looks very good." When I meet a stranger, I am recognized by the new brand, new logo.

  The other day, Subir Raha, the ONGC Chairman, while speaking at the seminar, made a mention of our logo. Just now I met Sucheta Dalal, the famous analyst; the first thing, she came to congratulate me "look the way you have launched the new logo." The kind of recognition for our efforts and I think it also created faith in the minds of people that this bank can be trusted in terms of doing things very gracefully in the shortest possible time. But I was very clear when we launched the logo that unless we now come out with new offerings and new things, this will be seen as a cosmetic change.

• As part of your re-branding strategies, you have also repositioned the bank as 'India's international bank', why was it so?
  This was so because, you know this cliche, that "we are friendly bank" and "we are a customer driven bank". Personally, I don't buy these because the customer should experience these and customer should vote the bank as a friendly bank or otherwise. I am against a self-complimentary culture. We thought, "on what is that this bank stands out compared to the other banks in the country", what is that we are not able to leverage and we found that we have the largest network abroad. So, why not we leverage on that. That is how this campaign on India's international bank evolved.

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