Fidelity-Kanu Endorsement: A Brand Parity Oriented Synergy - 2008-06-16

Whenever his name is mentioned, the things that come to mind are unusual dexterity, tenacity, excellence, integrity and vibrant corporate responsibility. These are the values he shares with Fidelity Bank, owners of his image right. Bright Nwogwugwu takes a look at the brand icon who has been 'crowned' king (in his chosen career) while delineating the strategic fit between Fidelity Bank and the ambassador.

He was born on 1st August 1976 in Owerri, Nigeria. He started his football career when he was fifteen years old at First Division Club Federation Works before moving to Iwuanyanwu Nationale in 1992. A professional footballer who plays as a striker for the Nigerian national team and for Portsmouth, an English club, he is the most decorated African footballer in footballing history, with a remarkable number of awards to his credit. The awards include a UEFA Champions League medal, a UEFA Cup Medal, three English FA Cup winners' medals and two African Player of the Year awards. As Graham L. Jones of Los Angeles Times aptly remarked, if anybody deserves to write his name into the soccer history books, it is the Fidelity Bank's brand ambassador, Kanu Nwankwo. “He has won more trophies than any other African player in history,” observed Jones. Kanu is the only current premiership player to have won the UEFA Champions League, UEFA Cup, Premiership, FA Cup and Olympic Gold Medal. The Fidelity Bank's icon has recently been 'crowned' king of Portsmouth by his colleagues soon after he scored the golden goal to win the keenly contested FA Cup for the club. 'King' is the nickname Kanu has earned from his Portsmouth team-mates. It was popularised by the African players John Utaka and Sulley Muntari. It would be recalled that Kanu Nwankwo, with his lone goal, gave Portsmouth, his club, the ticket to the FA Cup final, their first since 1939.

Exuding a sense of elation after the historic final which took place at the main bowl of Wembley stadium recently, the United Nations' peace ambassador, Kanu said that having been invested with a lot of confidence from all fronts, he just had to deliver on the expectations of family, friends and fans. "They call me king. I had to deliver and hopefully I did. I have to thank God - God made it possible for me to score. This is the best moment of my life. I started the game and I won the cup for Portsmouth. I have felt nothing like this," he said. Before the commencement of the match which was won against Cardiff City, Portsmouth's coach, Harry Redknapp, had particularly motivated Kanu with these words: "I know what you can do. King, go out and do your stuff, do your magic, you're the best."

Ever since he had his first major outing during the 1993 U-17 World Youth Championship, which was won by the Nigerian team, Kanu Nwankwo has consistently done Nigeria proud and has contributed immensely towards boosting the image of the country on the international scene. He threw Nigerians at home and abroad into an abiding ecstasy when he led Nigeria's Under 23 team to win the Olympic medal in the Atlanta Olympics in 1996, after which time he was named the African Footballer of the Year, a title he won again in 1999. He left indelible footprints in Inter Milan and was part of the Ajax Amsterdam team that won the Dutch league and the European Champions league in the same year. He was also part of the 2004 Arsenal team that won the FA Cup and the Premiership in one year, setting a record in English soccer history of not losing a match in 49 games.

In all the clubs he has played, Kanu Nwankwo never ceased to portray Nigeria as a nation of rare talents, and interestingly he has always been unassuming, in spite of his enormous achievements. Of particular importance is the fact that at such a time when some of Nigeria's top politicians are being arrested at Heathrow for money laundering and related offences, Kanu Nwankwo has projected Nigeria in a very positive light in the UK and all over the world. His show of patriotism came to the fore as he was being 'crowned king' after the FA cup triumph. Savouring the joy with the world watching, the 'king' was unveiled wearing a T-shirt with a bold inscription “I Love Nigeria”, and Nigeria's National flag. Considering that this display of patriotism was carefully planned and executed, it is understandable what a good ambassador Kanu is. That victory is victory for Nigeria, nay the African continent.

Speaking on Kanu's feat, Ndibe Madu Esq., a Nigerian based in the United Kingdom, expressed the view that “history cannot forget Mr. Kanu Nwankwo in a hurry in the game of football. Holistically, he has shown courage, skills, exquisite style, enthusiasm and above all, motivation to the younger footballers in Africa, UK and indeed, Europe.”

In his own remarks, Rawlings pointed out that Kanu Nwankwo's exploits are traceable to divine favour. “Everybody says Kanu Nwankwo is lucky. What is luck? It is very difficult to define. To me, he is favoured of God. His goal for Portsmouth has brought out adoration, once more, from the English sporting press, nay, the entire world”.

Kanu Nwankwo is famous for surviving a career threatening heart injury to come back stronger, winning laurel after laurel. Kanu says he is not tired of winning yet, setting his sight on both the African Nations Cup and World Cup before retiring from active soccer. Knowing the impact winning these trophies could have on Nigeria, one can only wish they come true.

Kanu, who bears Fidelity Bank's flag around the world, has in an iconic way, given further expression to the bank's capacity to always deliver on the expectations of its teeming customers and target market. It would be recalled that the bank recently signed on the football Czar as its brand ambassador, an action that is based on the fact that Kanu encapsulates Fidelity Bank's core values which include excellence, tenacity, integrity, professionalism and unwavering growth. Reacting to Kanu's victory at the F.A. Cup Finals, Mr Emma Esinnah, Group Head, Marketing Communications & Special Assistant to the Managing Director, Fidelity Bank Plc., said that the victory is victory for the bank. ”Kanu's F.A. Cup victory is victory for us as well, in that many people were quite sceptical about the choice of Kanu as a brand icon. Many people thought that he was in the twilight of his career, but Kanu, you must recognize is somebody whose stardom goes beyond the football field. In other words, if he stops playing today, he will remain a very relevant personality in this society. As you know, he is a UN peace ambassador and he runs a very successful NGO. He is a personality that is highly respected here. So Kanu is a very enduring personality. His exploit during the historic match has gone ahead to confirm that we were right in choosing him both as a footballer and as a social figure. His contract for us is not necessarily tied to his playing career today or tomorrow. We are associating with Kanu as a person, because he is a good person”.

Fidelity Bank is in its twentieth year of operation. In all these years, it has continued to endear itself to the consuming public in a unique way and the bank has always attracted a phenomenal following. This is evident in the three offers it has had private placement, IPO and the subsequent public offer all of which were massively oversubscribed. The bank which has an unbroken track record of unwavering drive towards growth, profitability and excellence is today ranked amongst the top 10 in the Nigerian banking industry, with presence in major cities and commercial centres in Nigeria. Fidelity Bank is also respected for the quality and stability of its management, life-touching Corporate Social Responsibility (CSR) initiatives as well its wide array of customer friendly products and services. Among the bouquet of services offered by Fidelity Bank are personal banking, private banking, corporate banking and diaspora banking. Fidelity's diaspora banking is specially packaged to allow Nigerians resident abroad to take advantage of the bank's global expertise and resources. The aim of the service is to provide a credible medium for Nigerians in diaspora to make safe and profitable investments at home and secure their financial future. Speaking on Fidelity Bank's projection for the next two years, Esinnah said, “We see an institution that is much bigger than it is today. We see an institution whose footprint internationally will have become wider. As you know, at the moment, we are one of the most capitalized banks in the country with a shareholders' fund of about $1.1 billion. You know we have also grown by way of our branch network in the last one year and over the next two years, we will have more than doubled what we have today and it will also be an institution with the kind of products that you see in developed countries of the world. It will be an institution that will be able to play big, not just in West Africa, but internationally.”

“Kanu And Fidelity Bank Share Inseparable Brand Values”

While some banks seek to further etch themselves in the minds of their targets through the sponsorship of TV Reality shows, Fidelity Bank has done something unique by adopting Kanu Nwankwo as the bank's brand ambassador. Emma Esinnah, Group Head, Marketing Communications & Special Assistant to the Managing Director, Fidelity Bank Plc., explains the rationale behind the signing on of Africa's most decorated player as the bank's brand icon. He speaks on the strategic fit, the terms of the contract, the values and prospects of the Fidelity Bank, among other things, in this interview with Bright Nwogwugwu.

In trying to remain on top of the consumer's mind, banks are embracing sponsorships of TV Reality Shows because they believe the TV is a mass reaching medium. But rather than adopt this approach, you have taken a different path by endorsing Kanu Nwankwo as your brand ambassador. What informed this decision?

In the choice of a brand ambassador, you must ask who to a large extent, encapsulates or represents the values of your brand. If you are to look at an individual and to determine the qualities of your brand, which personality projects what you stand for? In Fidelity, we talk about talent, we talk about ambition, and we talk about character. These are the distinct values of anybody that we want to employ to work in Fidelity Bank. Then, when you talk about shared values, the things that come to mind include respect for your target, empathy, professionalism, integrity and tenacity, among others. Who, as brand person represents all of these values? We see all these qualities in Kanu Nwankwo. He is somebody that has shown himself to be tenacious; he has shown himself to be somebody that can go the long distance and he has shown himself to be quite disciplined. His success has not gone into his head, he is still humble. Of all African footballers alive, he is perhaps the one that has achieved the most, yet he is one of the most humble. So you can't get a better personality to represent you if you stand for the things that we stand for. Therefore, Kanu Nwankwo is a good choice for us, because he represents the things that we see in ourselves and the things that drive us.

Fidelity Bank works with the Spinal Cord Injuries Association (SCIA) as part of its CSR programme and Kanu Nwankwo has similar CSR drive as the Kanu Heart Foundation suggests. Obviously, both of you have health related concerns. Did you actually take cognizance of this in signing him as your brand ambassador?

No, those things are distinct objectives being pursued. Kanu supports a major area of need and the Spinal Cord Injuries Association is also another major area of need. There is no need to be a convergence .Both can survive on their own. There is no conflict and there is no convergence.

Given the fact that there are celebrities in many spheres of life and you went ahead to choose a sports icon, can we say that Fidelity Bank has a marked interest in sports?

You will say sports command a lot of followers. However, we chose Kanu because he is one of the best trained, most recognized faces out of Africa and he is very well known here. So if you want to reach an audience, you must be able to take somebody they can relate to. If you want to encourage the Nigeria youths, you cannot go and take an obscure personality that does not mean anything to them. So we took Kanu, not necessarily because he is a sports man, but because he is a personality that means so much to the people.

What are the terms of the endorsement deal?

As a brand ambassador for us, we have the image right that is the right to use his image in all of our communication. He is to appear wherever we want him to appear that is convenient to him. Basically, that is what the contract is all about.

Soon after the contract was signed, Kanu proved his onions once again by giving his club, Portsmouth the F. A. Cup with his lone goal. Considering the fact that he keeps winning laurels, will you want to renew your contract with him in the future?

Kanu's F.A. Cup victory is victory for us as well, in that many people were quite skeptical about the choice of Kanu as a brand icon. Many people thought that he was in the twilight of his career, but Kanu, you must recognize is somebody whose stardom goes beyond the football field. In other words, if he stops playing today, Kanu will remain a very relevant personality in this society. As you know, he is a UN peace ambassador and he runs a very successful NGO. He is a personality that is highly respected here, simply because he respects others. So Kanu is a very enduring personality. But many people do not seem to recognize that. They tend to attach him to football. His exploit during the historic match has gone ahead to confirm that we were right in choosing him both as a footballer and as a social figure. So, his contract for us is not necessarily tied to his playing career today or tomorrow. We are associating with Kanu as a person, because he is a good person.

For how long do you retain that image right?

We have his image right for the initial two years and it is renewable.

Are there some financial involvements or considerations in the contract?

Well, those are details that may not be necessarily made public. They are not for public consumption. However, one thing you must know is that if you are working with him, he cannot be paying his own transport to this place. First of all, I also want you to recognize that Kanu is interested in Fidelity Bank, for what Fidelity stands for. He made it clear that Fidelity Bank is a bank that he respects and is proud to be associated with. He said it clearly that he sees a lot of him in Fidelity Bank: their support for the society, their resilience, their sense of duty and the quality of people on the board. So, Kanu from our interaction with him could have turned down some institutions if they had approached him. You know, there are some banks, some multinationals that will approach Kanu today to be their brand ambassador and he will say even if they offer him millions and millions, he will tell them 'No, I don't have the time'. Kanu is a highly principled person. If he does not see himself in that institution he would probably not accept to be their brand ambassador. So, the relationship between Kanu and Fidelity Bank is not about money.

Could you talk more on the brand personality of Fidelity Bank?

Yes. First of all, this is our twentieth year of operation and this is an institution that has been known all these years for integrity and professionalism. Basically, professionalism here starts from the board of directors. There are some decisions that many people take for granted elsewhere but this things are deliberated upon and everybody's opinion is sought before things happen, so this is an institution that does not take anything for granted. If you look at the three offers that we have had, the first was the private placement, the second was the initial public offer, then the second public offer that we did, you know all these were over subscribed. They were massively subscribed by the investing public. That is how to know an institution that has a lot of following. These are the people who will rise up to support you at the critical moment. They do not support you only because of what is to be gained, but more importantly because they see value in you. When you look at Fidelity Bank, you will notice that the bank does not make much noise. Even in our communication, you cannot see us making too much noise. We do not do a thing simply because others are doing it; we do it because we think that it makes sense. If it does not make sense, we will not do it no matter the number of people that are doing it. Even if nobody is doing it and it makes sense, we will do it and later on, you will find out that people will catch up and start doing it. That is Fidelity Bank. That is the person that the institution really is. A major thing you also associate with us is integrity. And when we say we are Fidelity Bank, it means that we keep our words. That is what the institution stands for and when you look at that kind of brand personality, you realize that it is not every star that we can bring on as our brand ambassador. Fidelity chose Kanu because of the similarity in brand characteristics or what you call the brand DNA.

In many parts of the world, some brand endorsements have boomeranged on the brand custodians when it is found that the ambassador got into a scandal or any form of trouble which may rob off negatively on the endorsing brand. While initiating this deal, was there any consideration or allowance for this?

Well, first of all, you know, nobody is God. One thing we must realize, however, is that there are people who are not reckless. Kanu Nwankwo is not a reckless person. He could make a mistake, but it will not be a reckless one. Scandals do not just happen. Most times, they have a history. Going by Kanu's impeccable track-record, we do not expect that and that is why this agreement is devoid of such consideration.

Is there anything else that contributed to Kanu's qualification for this endorsement?

First of all, Kanu is quite disciplined. Maybe I should start by saying that Kanu is one of the most respected and most admired Nigerian footballers. But he did not just get that respect or admiration, he earned it. He earns the admiration and earns the respect, one of the reasons being that he respects others. Another reason is that he is disciplined. He is hard-working and he goes the long distance. After the serious health challenge Kanu had, he did not lose sight of his ambition. Many people would have given up for life, many people would have said they will never play again, but you know, since that time Kanu has gone to many clubs and won laurels. Next year would make it ten years since he started playing the premiership and that is because he has the will to succeed. He has the determination and he is quite tenacious. Those are the things that attracted us to Kanu. He is truly a man of character, talent and ambition. If you look at him, you will notice that he has not had scandals and that is what we mean by character. Indeed to be associated with him is quite an honour that is given to us and we are also glad that he himself is proud to be associated with the Fidelity brand.

What ancillary benefits are accruable while the contract lasts?

The mere fact that you are discussing the synergy is a benefit for the institution. Simply put, the contract provides a platform for discussion; it gives you what is called talk or discussion value. M2 would not be discussing it with me now, if we had not signed that contract. So, it is generating top value already. That, in itself, is a benefit for an institution

How did Fidelity Bank react to Kanu's Portsmouth victory?

To start with, Kanu Nwankwo had invited our MD to the FA cup finals and asked him to be his guest at the finals but unfortunately he could not make it because of the many other engagements that he had here. But all of us were tuned to our TV watching that game that day and our MD was quick to get in touch with him immediately after the match and he was quite happy that the MD called amongst all the other people that called him, that it was the such a person that was calling him back home. So we were quite elated Kanu was able to achieve all the things he did, you know it was not just the finals. His own goal was the one that gave them the finals ticket during the semifinal match, and then he, also during the finals, and gave them the cup, the first in 69 years. So it was a great success and all of us were quite happy that it happened.

What are your projections for the next two years while this contract lasts?

We see it as an institution that is much bigger than it is today, we see an institution that the footprint internationally would have become wider. As you know, at the moment we are one of the most capitalized banks in the country with a share holders' fund of about $1.1billion. So we have also grown by way of our branch networks in the last one year and over the next two years we will have more than doubled what we have today and it will also be an institution with the kind of product that you see everywhere in the world and the kind of financial services product that you see in developed countries of the world. It will be an institution that would be able to play big not just in West Africa but internationally. It would be a much bigger than it is today.