Wema Bank’s Signing Of Davido, A Brand-boosting Brand

Nigeria’s leading digitally-driven financial institution, Wema Bank announced the signing of superstar Davido as Brand Ambassador for its digital bank, ALAT last December. Hope Moses –Ashike examines how Davido’s signing is a fit for the ALAT brand personality.

Brands have always leveraged entertainment to enhance awareness, present positive portrayal, make deeper connections to a target audience, establish stronger positioning, and boost the bottom line since time immemorial.

Thus, Brand and Celebrity Ambassadorship has become an essential part of marketing the world over because the ambassador/celebrity is more often a more credible bridge for brands to reach more (usually captive fans and followers of the star) of their target audience. The ambassador, through his/her influence, would bring more brand attention, positive sentiments, higher sales, and higher recognition value, among other benefits to brands.

Essentially, a Brand Ambassador is a positive spokesperson and representative for the brand. It is, therefore, a given that Brand Ambassadors must embody the Brands they represent in more ways than mere name association, particularly on corporate image and demeanour.

Such was the case last December when Wema Bank announced the signing of music megastar, Davido, as a Brand Ambassador for its digital bank, ALAT by Wema. Before the signing, the multiple award-winning artiste had instigated an audacious global fundraiser by posting his ALAT account before his 29th birthday and asked industry friends, associates and fans to donate a million Naira each for his then approaching birthday as a show of love.

Incidentally, the daring move yielded over N200 million in a matter of hours. Davido himself later contributed N50 million and announced plans to donate all N250 million fundraised to orphanages across the country. A committee overseeing the disbursements to orphanages has since begun work.

While a good deal of people may not know the choice of ALAT by Davido as a platform to execute that special act was no mere coincidence, it was a perfect match made of two brands fitting each other like a hand to glove.

Like Davido, ALAT is a pace-setter and leader in its own space. ALAT (an acronym for Aspirational, Limitless, Audacious and Timeless) is Nigeria’s first fully Digital Bank, offering a 360 digital banking experience that is simple, reliable and convenient with bespoke solutions that support lifestyle choices, business demands and recreational endeavours.

Since its inception, ALAT has become the bank of choice for young Nigerians and entrepreneurs who see no barriers limiting their aspirations and are everyday leveraging the opportunities presented by the Digital Bank to pursue their audacious dreams of creating timeless legacies while living life to the fullest like Davido.

Though of privileged background, Davido has worked hard to attain his status. The 29-year-old has won over 50 awards and earned over 80 nominations in a decade of his career. ALAT by Wema equally boasts of scores of Awards locally and internationally since it became operative in 2016.

And like ALAT, Davido is an enabler and supporter of dreams and aspirations. This is clear in his consistency in supporting rising music stars and philanthropy, another one of his hallmarks. Besides his large-heartedness with the N250 million committed to orphanages in December, Davido had in 2020, when he released the music video of ‘Dolce & Gabbana’, announced that all the proceeds will go to support the fashion house’s Dolce & Gabbana and Humanitas Together for Coronavirus Research Fund.

Further critical analysis shows that some of Davido’s core attributes including his authenticity, musical talents, connection with the grassroots (relatability) and entrepreneurial spirit combine to make his Art timeless. These qualities align with that of Wema Bank, a 77-year-old institution that consistently reinvents itself just like the mythical phoenix and today is fast becoming the dominant innovation-driven financial institution.

“We welcome you warmly to our great family, the home of innovators and enterprising people who meet our customer’s needs with innovative products and excellent services that fit their lifestyles and empower their aspirations. You are set for a good time with us, and we assure you this relationship would be mutually beneficial,” the MD/CEO, Wema Bank, Ademola Adebise, said at Davido’s signing.

“I am excited to join the Wema Bank family and look forward to the great things we will achieve together,” Davido responded on his association with Wema Bank.

As rightly noted by the music star, expectations are high about the great things both brands would achieve in this brilliant relationship whose announcement set Nigeria agog last December.

Brand ambassadorship has always been a crucial part of marketing. Both Wema Bank and Davido will do big things in uplifting each other, and by extension, uplifting millions of aspirational Nigerian youths above the limitations of their audacious dreams of creating timeless legacies.