Never Mind The Credit Card

Virgin Money

In a classic piece of disruptive innovation in branding, Virgin Money just introduced a credit card based on the iconic logos of the Sex Pistols’ designs for “Anarchy in the UK” and “Never Mind the Boll….cks, Here’s The Sex Pistols”. Virgin Money’s CEO and Marketing Director were talking with me about the card and you can read all about Virgin’s latest move at Never Mind The Bankers.

“We want to get rid of the bollocks in banking and to be simple, open, transparent and fair”

Jayne-Anne Gadhia, Virgin Money’s CEO

As is Sir Richard Branson’s way, Virgin challenges norms, having disrupted British Airway’s cosy relationship with the British Government in the 1980’s when they launched Virgin Atlantic. I’ve been chatting about the credit card concept to people from several walks of life to find out how they see the strategy. It becomes clear that Virgin have succeeded in polarising views from different segments of society:

Some of my “arty” friends are “appalled at the theft of punk’s pure clothes for the purposes of banking”. I guess this is the punk rock version of “Angry of Camden”:

Some of my banking friends are “outraged at the use of street culture to demean the upper class world of banking”. I guess this will soon appear in a letter to the Financial Times from a man or a woman in a bowler hat living in Surbiton:

 

The point of the matter is that Sir Richard Branson has succeeded on every level, gaining publicity through disruptive thinking.

I answer my arty friends thus:

“All good disruption eventually becomes part of the mainstream. Check out the punk fashion in Claire’s Accessories if you don’t believe me”

I answer my banking friends thus:

“It’s about time banking woke up to customers, mainly in terms of substance e.g. convenience, simplicity, but a bit of style would also do no harm”

So, I think this is an incredibly shrewd and clever move on the part of Virgin to cast a shadow on the battleship grey industry that is banking. It’s a marvellous piece of market segmentation that gains publicity and viral value through controversy. Let’s see the masters of controversy in action:

The Virgin Battleship Building – Not Grey

Come to our next masterclass event in Warsaw on 23/24 June, where we’ll be discussing Punk Rock, Disruptive Innovation and The Virgin Way amongst many other things in a day of inspired intelligence and fun. Grab your ticket here.

Peter Cook is author of “The Music of Business” and “Punk Rock People Management” which simplify business leadership, creativity and innovation, strategic thinking and people management for busy people.

Check out the books at Cultured Llama.

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Pomp, Circumstances, Kings, Queens and Punks

The kids are alright – at the Jubilee Concert – Picture by Baroness Ella Melitta

The Royal Jubilee celebrations afforded a rare moment of relaxation to reflect on the pomp and circumstance of such ceremonies.   However ‘punk and circumstances’ contrived to fill some of that time, after we were asked to do a last minute gig with Carter the Unstoppable Sex Machine.  In case you missed Carter, here’s The Only Living Boy In New Cross:

I had not really noticed Carter USM when they appeared on the indie punk music scene in 1988.   Razor sharp lyrics that reminded me of Jarvis Cocker and Richard Strange’s skills in this area.  Indeed it seems that Jim Bob is something of an admirer of Mr Strange.  In case you fancy catching up with Richard Strange’s work, you can catch him talking about the moment when the Sex Pistols asked to support The Doctors of Madness at ‘Punk Britannia’ on BBC 4 for a few weeks at:

http://www.bbc.co.uk/iplayer/episode/p00s81jz/Punk_Britannia_PrePunk_19721976/

Watching the Jubilee river procession and its awe inspiring £32 Million bill made me think of the pomp and circumstance of Rock’s most expensive moments in the name of branding.  Let’s sample a few of them:

The moment when Michael Jackson floated a statue of himself down the River Thames – a cool bill of 50 Million dollars for the ‘HIStory’ album that went with it:

Madonna’s ‘Express Yourself’ video – just a ‘modest 5 Million Dollars’ in 1988 by comparison:

Queen’s Bohemian Rhapsody video weighs in at a rock bottom price of £4500 in 1974 – that’s about £43 K in today’s terms:

So, here’s the tough question on enduring brand value.  Which of these do you consider will have the longest-term impact on society?

The Queen – £32 Million (2012)

The King of Pop – Michael Jackson – £50 Million (adjusted for 2012)

The Queen of Pop – Madonna – £7.2 Million (adjusted for 2012)

Queen – £43 K (adjusted for 2012)

If you are looking to spend a more modest sum for the Jubilee, M&S report that they have introduced a range of retro underwear (that’s in the sense of yesteryear, not pre-loved 🙂 )for the Jubilee.  For even less money you can get a free copy of Punk Rock People Management from me.  Simply click on one of the M&S women and get your copy for FREE.

Retro underwear from M&S for the Jubilee – hurry now to get yours before it rains again