“Ouch!” That’s the first thought that struck me as I picked up the newspapers this morning. No I am not referring to the coverage of the FM’s interim budget, but to the full front page ad for State Bank of India in the leading and very-expensive-to-advertise-in newspapers.
The full-frontal assault hurt for two big reasons:
1) You don’t spend this kind of money to advertise anything in today’s market scenario – especially to promote a brand we’re all well aware of.
2) The creative sucks as it reeks of a lie – SBI claims to be “The Banker to Every Indian”. Sorry to bust your bubble, but that is just not true. SBI is not my banker, and neither is it the banker for many, many people I know.
With this false claim, you the bank (SBI) and the agency (Interpublicity) are asking to be slammed by ASCI and every other body/person who monitors untruths and false claims in advertising.
Admittedly SBI is a huge bank. A respected one at that. It also has a long history with many Indians. And I personally have been a fan of its intelligent and insightful communication over the years. But to make claims like this current one doesn’t help SBI’s reputation of trust. And to do it in this wasteful manner, is adding insult to injury.