• ISCRIVITI ALLA NEWSLETTER

Iceland is small and distant. Due to its inaccessibility it was almost forgotten by the media. At least until a few years ago. Then the crisis, the eruption of a volcano with unpronounceable name and the recent success as a hype tourist destination made Iceland popular. But we know very little about advertising in Iceland.

Yet, in this little country that counts only 320,000 consumers, where the multinational advertising agencies are not landed yet, advertising has responded to the crisis speaking clearly to the public. It stopped to show distant worlds with fabulous gains – it gave answers. A proof is the campaign for the VIB bank, that in such a delicate moment for the country has been able to talk about financial investments with honesty and authenticity.

It features multi-subject commercials that show not investors but professionals, explaining the philosophy of their work and talking about how they love their jobs. A horse trainer, a watchmaker and a fisherman explain how patience and experience are necessary conditions for success. It is the same with financial investment, says the voiceover: it is only with time and foresight that you can achieve good goals.

We interviewed Gisli Brynjolfsson, from Hvítá Húsið agency, one of the makers of the campaign, and asked him to tell us about the campaign, about advertising in Iceland and what has changed with the economic crisis of 2008.

Q: Very little is known about communication in Iceland, yet you got noticed by Advertising Age.

G.B.: It is true, our advertising has never hit the headlines, and for all we know it’s the first time an Icelandic campaign is mentioned in a magazine abroad. The aim of the campaign was to restore credibility to Islandsbanki, one of the major banks in the country. Of course the total lack of trust was a big problem. People had lost millions of crowns in the financial bankruptcy, so this new brand and its communication had to prove that the bank had changed its conduct of business compared to previous years. Our idea was very simple. Investment has two variables: the first is, of course, money; the second is time. Because it’s time that determines the quality of an investment. When to buy? When to sell? How much should you invest? Not to mention all the time it takes to decide. Time is also closely related to experience, patience, knowledge and professional skills – a word that had been forgotten for a couple of years before the crisis. That’s why we decided to show various professions (the fisherman, the watchmaker, the painters, etc..) in which training, experience and patience are crucial to achieving the goal.

Q: Adv Age has praised your campaign for “its candid and straightforward approach and its innovative ways of reaching customers”. It seems to us a paradox that honesty in advertising is defined as innovative.

G.B.: You know, the atmosphere in the country was such that the first concern was rebuilding trust at all levels of society. You had no options: you had to be honest. To me honesty is a crucial element in marketing today. All the brands that try to be anything else or lie about their characteristics are brutally punished by consumers, especially on social networks.

Q: It was the client who chose to communicate that way?

G.B.: It was our idea, but I believe that customers captured this need in society. When it comes to financial investments in advertising, there is a need to be humble and to return to core values. And I think I can say that the campaign was very well received. Just think that, at that time, but even today, banks weren’t the most popular client in Iceland. We have not received negative remarks, and that’s already a great victory.

Q: Your country went through a dramatic crisis in 2008, how did the world of advertising address it?

G.B.:Companies cut their budgets. In 2009 the market shrunk by one third comparing to 2007. There were many layoffs, many agencies went bankrupt. And clients exploited the materials they already had for longer time than ever, investing less in the production and going for lighter graphics.

Q: What were the most significant differences in communication before and after the crisis?

G.B.: Looking at our customers I can tell that now companies are more professional. They commit more resources to market research and marketing strategy and I think it is a very positive outcome of the crisis. The situation continues to improve. I just hope not to see again a year like 2007.

Q: How is it market in Iceland today?

G.B.: The most known brand is probably Icelandair, our flag carrier. Lately the government has invested significant resources in the campaign “Inspired by Iceland” in order to promote Iceland as a tourist destination. I think it’s the biggest campaign in Iceland. As for the media, TV and press are the most used because in such a small market it’s easy to reach the consumers. That being said, Internet advertising is catching on very quickly, especially through local news resources, Facebook and Google.

Q: Actually, we were really surprised to find that in Iceland 59% of the population is on Facebook, while in Italy the percentage does not reach 30%. Not to mention India, China or Russia where the percentage is under 1%.

G.B.: Yes, it’s surprising how Facebook spread here in Iceland and of course advertising agencies are adapting to this reality. Some of them have outsourced this aspect of communication, but we believe it must be an internal resource so we can catch and develop all the opportunities it offers.

Q: Your crisis seems to have ended.

G.B.: Maybe not yet, but things are going much better than in 2008 and 2009. Advertising reflects the economic outlook of the country, and recovery is evident!

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