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Marketing

The Bank’s Marketing team launched and activated a number of marketing campaigns targeting key consumer segments. The Bank has always put customers at the core of its business and in 2011 continued to explore ways to meet their expectations by launching a set of new products and services and marketing campaigns to support existing products. The Bank’s new products and services in 2011 included Elite Banking, Islamic Banking, Paymaster for EPF & ETF payments, new tie ups with partner organisations for e Exchange Remittances, Bancassurance and Leasing and tie ups with mobile operators for Mobile Banking.

The Bank aggressively promoted Gold Loans, Leasing, Arunalu Children’s Accounts, Isuru Children’s Savings Scheme, e Exchange Remittances, Credit & Debit Cards, Super Saver Savings Accounts and Fixed Deposits in 2011. In addition the Bank also carried thematic corporate advertising campaign to announce the awards and accolades the Bank received in 2011.

One of the key marketing activities of the Bank in 2011 was the launch of a new refreshed logo which was very well received by all stakeholder groups. The Bank also launched new branding in new branches and refreshed branding in main branches which included refreshing ATM’s as well. It also ventured into an outdoor advertising campaign for main products. The Bank successfully used new advertising mediums such as social media, internet, email, viral, location based TV and mobile phones for its marketing campaigns.

The Bank also conducted many attractive promotions for e Exchange remittances, Personal Loans, Leasing, Gold Loans and Credit & Debit Cards in 2011. All above promotions were well received by the consumers resulting high product patronage.

The Bank continued to promote its Arunalu Scholarships programme during 2011 too. Over Rs. 3.5 Mn. worth of cash prizes was disbursed to Year 05 scholarship winners through the branch network.

The Bank also participated in many trade fairs and exhibitions increasing its’ interaction with current customers as well as prospective customers.

Customer Satisfaction

In 2011, the Bank continued to measure brand equity, customer loyalty and service satisfaction levels using formal methodologies that compare performance to national and international benchmarks.

The results of these studies placed the Bank ahead or near the top of its peer group in all categories.

Commercial Bank ranked highest among all key Banks in Sri Lanka in the Customer Satisfaction Index spearheaded by Lanka Market Research Bureau (LMRB) and also achieved a very high benchmark within the Sri Lankan banking category of the Customer Loyalty Index also produced by LMRB. In the Brand Equity Index conducted by Nielsen, the Bank ranked highest among all private banks in Sri Lanka.

Future Outlook

The Sri Lankan economic landscape is on the cusp of a great transformation. Such fundamental change demands that the banking sector, which lies at the heart of the nation’s economy, respond with corresponding changes to its size and structure. Commercial Bank is prepared to lead this change, and to maintain its leadership in the sector, by keeping the customer at the centre of every business decision - and reinforcing that message across the spectrum of marketing efforts.