Santander, the Spanish financial institution, has emerged from the financial crisis with a rise in profits of more than 22 percent since Q2 2013 and has exceeded analysts' forecasts. With a healthy balance sheet and a boost from brighter economic outlooks in the Spanish market, Santander has begun leveraging its brand to further strengthen its position.
Santander also has new leadership in place. Newly-appointed Chairwoman, Ana Patricia Botín, recently succeeded her father, Emilio Botín, and is expected to uphold the strong legacy that he built over the years. Under the younger Botín's leadership, an internal committee--armed with a healthy budget for branding activities--is dedicated to messaging and maintaining consistency. Building on its global consistency strategy this year, Santander invested USD $200 million in rebranding Sovereign Bank in the U.S. Its campaign, executed against multiple touchpoints, promoted Santander's tagline, "a bank for your ideas."
Santander continues to effectively increase global brand awareness through brand ambassadors and its use of key drivers like corporate sponsorships, including Ferrari and McLaren Formula One. The bank has also worked to change negative perceptions surrounding customer service by tailoring products and services to specific needs and communicating about its offerings in a personal way such as, "I'm going to have a child," "I want to launch a startup," or "I'm planning on renovating my home." Designed to bring the brand closer to the consumer, a campaign has launched in some markets with ultra-personalized messages, referencing particular aspirations such as a "bigger car for Michael" or a "new downtown loft for Paula and Hugo."
The brand is also innovating by leveraging its technological skills and its global presence to launch products like Global Select Debit, a service that enables customers to withdraw local currency immediately at all Santander ATMs worldwide without any extra fees.
By staying on track with its focus on geographically consistent branding, and its commitment to connecting with consumers, Santander is well positioned to see profits keep rising.