Bank Hapoalim Marketing VP Yigal Barkat Highlights Core Values and Innovation for Legacy Brand Success
Yigal Barkat, Vice President of Marketing at Bank Hapoalim, shared key strategies for maintaining legacy brands over time during the MAD conference hosted by Globes. Barkat emphasized two main recommendations: preserving core brand values while surrounding them with a "skin" of continuous innovation. He illustrated these principles with global examples such as McDonald's, Royal Enfield motorcycles, and the British department store Selfridges.
Barkat explained that McDonald's maintains its core products, burgers, fries, and cola, while innovating through modern store designs, frequent renovations, and new sales channels like touch-screen ordering and loyalty programs. Similarly, Royal Enfield revived its brand by combining affordable pricing with retro design, appealing to niche markets like hipsters. Selfridges preserved its original concept as a multi-brand store but refreshed its appearance and introduced pop-up shops to generate excitement.
Applying these lessons to Bank Hapoalim, Barkat highlighted recent initiatives including "Dan the Financial Advisor," which proactively informs customers, and the "Gifted Stock" campaign that attracted hundreds of thousands of new investors to the stock market with accompanying financial education. The bank also froze the dollar exchange rate to address consumer concerns about rising costs. Another innovative move is the "Poalim Junior" program, offering children aged eight and above a bank account with a debit card and savings options, combined with engaging financial education content. This initiative has already opened thousands of accounts, with 30% including savings.
Barkat praised Globes for their "More Facts, Less Opinions" campaign, calling it a courageous step against the prevalence of clickbait and misinformation. He warned that a strong backlash against manipulative information is imminent. The MAD conference was sponsored by Bank Hapoalim and other major companies, focusing on marketing innovation and brand relevance in a changing consumer landscape.
