ING Direct

ING Direct
Sergio Rossi
VP Marketing & Communications
Milan, March 8th - 2007
Agenda
• ING Group
• ING DIRECT
• ING DIRECT Italy
• Strategy and market approach
1
ING Group
ING: a worldwide group
•
ING Group is one of the world’s largest financial services companies,
offering banking, insurance and asset management in over 50 countries.
•
ING Group was created through the merger of two major organisations:
National Nederlande and NMB Postbank Group
•
In terms of market capitalisation, income and net profit, ING Group is
among the six largest companies in Europe and the top ten global
providers of integrated financial services, employing approximately
110,000 people in over sixty five countries
2
ING Direct
ING Direct
Reading
Francoforte
Toronto
Vienna
Wilmington
Madrid
Milano
Sidney
Parigi
3
ING Direct Strategy
1
MARKETING APPROACH
- Consumer insight study,
- Right price,
- Strong communication
2
HIGH FOCUS
- Few products,
- High customer satisfaction
3
EFFICIENCY
Low operation cost
Operational Costs
300
250
250
Average Branch
Bank: 250 bps
200
150
142
123
96
100
59
50
49
44
40
2004
2005
42
0
1999
2000
2001
2002
2003
Q3 2006
4
Customer Satisfaction
United Kingdom
Spain
Italy
Much better
Germany
Somewhat better
About the same
France
Somewhat worse
USA
Much worse
Canada
Australia
Average
0%
20%
40%
60%
80%
100%
Products Positioning
ING DIRECT offers products
strongly competitive in every market.
Any product, material, web site, IVR, have been
designed to work quickly and easily.
The products are available 24 hours a day, and
seven days a week, everywhere by internet or
telephone.
5
One of the fastest growing
companies ever
2.5
ING Direct
eBay
USD Billion
2
Dell
Revenue growth
Adjusted to 2003 dollars
1.5
Yahoo
Microsoft
Nike
Cisco
1
Starbucks
Wal-Mart
0.5
0
1
2
3
4
5
6
7
8
Source: Adopted from Fortune (18 October 2004)
Clients and funds
17,0
220
15,0
170
13,0
11,0
120
188
200
5,0
103
55
20
-30
2
7
1999
2000
3,0
24
2001
2002
€ 200 bln
Funds Entrusted
7,0
151
70
9,0
17 mln
Clients
2003
2004
2005
1,0
Total client retail
funds entrusted
-1,0
Number of clients
Q3 2006
6
The biggest on-line bank in the world
Market ranking in Retail Funds Entrusted
Canada
Spain
Australia
France
USA¹
Italy
Germany²
UK
EOY 2003
Total Banks
9 th
7 th
7 th
12 th
45 th
10 th
7 th
N/A
EOY 2004
Total Banks
7 th
7 th
6 th
10 th
28 th
8 th
7 th
15 th
YTD 2005
Total Banks
7 th
6 th
6 th
9 th
28 th
7 th
6 th
8 th
ING Direct Italy
7
Strategy and Marketing
approach
Psycholinguistic approach
Feeling
Thinking
INTENTION TO BUY Æ EMOTIVITY!!!
8
Psycholinguistic approach
Happiness
Bimbo
Serenity
Sorpresa
Swatch
Mamma
Pleasure
Moda
Consumismo
Sicurezza
Qualità di vita
Mediaset
BEST YIELD
Top Model
Calm
Tranquillità
Avventura
Impegno
Depressione
Simca
Squalo
Genitore
Nostalgia
Introversione
Uncomfortable
Internet
CONTO C.C
Terme
BANCA
Tristezza
Pessimismo
Excitement
Trasgressione
Padre
Mercedes
METTETEVELO
Rivoluzione
Morte Mistero
NELLA
Chimica
ZUCCA
Guerra
Aggressivity
Paura
Sadness
ING Direct Italy
Products Portfolio
Conto Arancio: innovative saving
product, with high remuneration and
no fees
Mutuo Arancio: first direct mortgage in
the Italian market. Best rate, No fees!
Investimenti Arancio: on line funds
gamma with no fees and high
competitive management commission
9
Brand Equity
• SIMPLE
• INNOVATIVE
• VALUE FOR MONEY
• CONVENIENT
• EASY TO DEAL WITH
Brand Personality
Energy
8,0
ea
Cr
i ty
tiv
7,5
Co
n
7,0
t in
ui
ty
6,5
Open-mindedness
Emotional Stability
6,0
5,0
Istit
utio
nalis
m
s
nes
tive
rac
Att
5,5
CONTO ARANCIO 2002
WAVE 2003
WAVE 2004
WAVE 2005
TRADITIONAL BANK
Amicability
Reassurance
Responsibility
Source : MPS research
10
ING Direct Italy
Key Success Factors
4
Line extension
cross selling and
up selling
1
Right product
for the consumer
3
Coherence
communication
with emotional
map
2
Strong
brand
ING Direct Italy - Results
7th Retail Bank in Italy
• 790.000 active clients
•14 Bn Euro fund entrusted
Leader in on-line mortgage
• 65% of MS (On-line)
• 2.5% on new mortgage production
3% MS on Equity International Funds
93% of Brand Awareness
11
“Mettetevelo nella Zucca!!”
GRAZIE!!
12