Creating a world of Wealthsmiths
Sanlam understands the importance of an ownable brand purpose, one that sets out how you intend to change the world for the better. It is not about the products you sell or the services you offer, it’s about the reason your brand exists, about what it does to make a difference in the lives of the people and the communities it serves. Brand purpose infuses the entire business, not just the marketing team, and gives the organisation and its people a flag to rally around and an understanding of the change they want to make in the world. Brand purpose is important to a growing group of conscious consumers who seek to align themselves with brands that share their values and ideals, and with businesses who wish to have a sustainable positive impact on the environment, society and the economy.
So when Sanlam introduced the Wealthsmiths positioning in 2014, it not only coined a new word but also embarked on a journey to inspire a nation of Wealthsmiths. This journey is not an easy one. Developing financial resilience around respect for the value of every rand requires a behaviour and an attitude that are rare in a modern society, where “keeping up with the Joneses” and the desire for instant gratification lead to impulsive decisions and compulsive spending.
Since the launch of the Wealthsmiths positioning in 2014, all of Sanlam’s efforts have been focused on illustrating the qualities, attitudes and characteristics of being a Wealthsmith. From understanding that the true value of a rand is not what you buy with it, but what it buys you when it launched in 2014 with its Superboy advert and One Rand Man social media experiment, to encouraging people to live within their means with the Conspicuous Savings campaign in 2016. Each and every campaign re-enforces the desire of both the brand and the business to create a better world, a world of Wealthsmiths.
Says Yegs Ramiah, Chief Executive: Sanlam Brand: “The problem of conspicuous consumption and living beyond our means is particularly acute in South Africa, where savings levels are notoriously low and the overwhelming burden of debt is crippling individuals, households and our economy. We believe these campaigns successfully drew attention to the issue.”
There’s a Wealthsmith in all of us
Sanlam’s most recent campaign, the next step in the journey, aimed to connect with people on a personal level with everyday scenarios that everyone can relate to, whether it’s the struggle of losing weight or the never-ending toil of turning a house into a dream home. What’s more, the campaign challenged South Africans to really think about what they have and how they can make more of it.
“There’s never been a better time to put out a message like this,” says Ramiah. “People are under pressure financially and need to find ways to make their money stretch further. We wanted to remind them that they’ve been doing small things to improve their circumstances their whole lives and inspire them to do the same with their money.”
South Africans bounce back
The campaign celebrates the everyday qualities and characteristics that make us all Wealthsmiths. “The concept of not settling talks to the way South Africans behave in tough times,” explains Ramiah. “We’re very resilient, we never give up. It’s a natural instinct to make the most of what we have: eating healthier, exercising, studying, turning a house into a home or making a change by voting.”
The campaign brings not only a message of frugality but also one of hope. Sanlam believes that everyone can unleash their inner Wealthsmith. If you carpool, you’re a Wealthsmith. “We will continue fighting the good fight. Even though it is not easy. We will encourage responsible financial behaviour and a culture of saving,” says Mariska Oosthuizen, Head: Sanlam Brand. “One where people respect the importance of scarce resources and protect and grow what is important to them.”