In 2006 Jyske Bank released an award winning TV channel that broadcasts financial news twenty-four hours a day. Lasse Högfeldt, head of communication at Jyske Bank and editor-in-chief at Jyske Bank TV, was a big part of building the success. At Super Content Marketing 2016 in Stockholm he spoke about some of the key insight on how Jyske Bank built the media company within their organisation.
When Jyske Bank TV was released internally in 2006 the inspiration for the channel came from Högfeldt’s fascination of newspapers. By hiring journalists, photographers and producers he transformed their media department into a newsroom, producing financial news.
The need of having their own media department came out of the changes in the media landscape. Högfeldt told the audience at Berns, Stockholm: “We can’t any longer think that we can use the media as distribution for our messages, we have to be the media on our own and then use social media or our own platform as distribution.”
In 2008 the TV channel was released to the public, which allowed everyone to take part of the financial. Högfeldt said that there has since been a shift in people’s attitude towards the channel. When they first started people would ask him why he wanted to start a media company within the bank, but now the question has shifted and people instead find inspiration in the bank’s courage to try something new.
At Super Content Marketing 2016 Högfeldt spoke about components that he believed made the TV channel so successful.
First, the media channel needs to be built in-house, in the heart of the organisation with close contact with the CEO. When the channel first was released it focused on two things: constructive journalism and top down communication. Constructive journalism, or bottom up communication as Högfeldt referred to it, is content produced for the employees at the bank. Högfeldt and his news team identified the, more than 4000, employees as their core audience. He said: “We do strongly believe in that if there’s a problem within the organisation we need to get it up to the CEO.” Another important factor was the top down communication, which means that the channel communicates the company’s strategies and the CEO’s visions.
Externally the company has two other missions, Think Small and Think Big. Think small means that they are producing content targeting very specific audience groups. The editor-in-chief explained: “When we started in 2008 we we’re up against the broadcasters and we can’t compete with the broadcasters, so we wanted to be narrowcasters. When we say think small it’s about very, very small target groups”. The thinking small strategies align with the company’s strategies and with the concept of the bank. It is content created with a strong call to action in order to get existing customers or new, specific customers, to buy a product.
The second part of the external strategies is think big, where the media company focuses on spreading their brand. The think big content does not align as much with the bank, instead it is focusing on reaching a bigger audience.
3 Key take-aways: