Deutsche Bank has appointed Essence as its global media agency, marking the first time a single agency has handled procurement for the lion’s share of its brand portfolio.
Essence, which will take over the consolidated account on January 1, 2022, will manage media buying across all media and platforms, online and offline, worldwide.
The account was previously split between Spark Foundry and Starcom, the Publicis Groupe-owned agencies he has worked with since 2015, and Performance Media, which has worked in the online media sector since 2018.
Deutsche Bank launched a tender, together with asset management firm DWS – which was previously owned by the bank before listing on the Frankfurt Stock Exchange – in the second quarter of 2021.
The pitch was managed by an interbank committee and the group’s purchasing department, a process that also involved Germany-based pitch consultant IMedia AG.
The bank, whose wealth management arm sponsored the recent Frieze art fair in London, said it was looking for an agency that used “innovative and data-driven marketing strategies, with a vision-driven approach”. future to operate proactively in a dynamic and competitive environment”. environment”.
She was particularly impressed with the strategies, quality of planning and creativity exhibited by M Group-owned Essence during the multi-stage selection process, the bank said.
Tim Alexander, Chief Marketing Officer and Chief Experience Officer of Deutsche Bank, a private bank, described Essence as the “perfect partner”.
He continued, “Essence thinks about data-driven campaigns from the perspective of the customer – and scales and distributes them with its global network Group M.
“It will also be particularly useful for us to further anchor our dual-brand strategy with Deutsche Bank and Postbank in the German market.”
Christian Rummel, deputy director of brand communications and corporate social responsibility at Deutsche Bank, praised the “holistic approach”, “the excellent understanding of the market” and “the many innovative ideas on” the flagship brand of Gasoline; while DWS Global Head of Marketing Adib Sisani said Essence has “a strong affinity with innovation, data and technology”.
Christian Leipacher, Managing Director of Essence Germany, added: “We look forward to partnering with Deutsche Bank, Germany’s leading bank, and its network, and together finding lasting answers to an ever-changing media landscape. .
Deutsche Bank spent €174m (£147m) on marketing spend in 2020, up from €251m in 2019, as it cut spending during the pandemic. Media spending is likely to be a small proportion of total marketing spending, one observer suggested.
It is understood that Publicis Media does not operate Deustche Bank in the UK, where the bank’s annual media spend is modest – around £366,000 in 2019 and £126,000 in 2020, according to Nielsen.
