A Balanced Campaign Directly Impacts the Bottom Line
Proper planning and patience pays big dividends for a mid-size bank
Executive Summary
Before becoming A3 Media’s client, two midsize banks merged. Both had been in existence for more than 100 years and were very well known in their region. After merging the new bank’s name was changed to reflect their market position. They wanted to be viewed by the public as a local, friendly, and civically involved partner to the community. Since both banks had been in the market for more than a century, they thought their transition would be easily accomplished.
Three years after their merger, the bank commissioned a market survey and were disappointed to find the new bank’s name hadn’t gained any traction in the market. They then decided to commission an advertising agency to assist.
Internally their marketing team worked on collateral materials, such as mailers, brochures, and email offerings. The agency was tasked with additional digital and traditional elements. They continued with this plan for two years.
After that time, the bank conducted another independent study and their lack of name recognition persisted. Being displeased with their former agency they went on an agency hunt. After interviewing for the position A3 Media was hired and became their agency of record (AOR).
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Goals:
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Build Name Recognition
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Build Brand Integrity
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Increase Deposits
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Increase Loan Requests
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Target Small Business Opportunities
Obstacles
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Budgets were reasonably limited for such a heavy lift, done all at once.
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Prioritizing their list of goals and creative messaging would be crucial.
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Through our research and planning sessions, the Client understood the process of reaching these goals was going to take a commitment over a few years.
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Their markets fell into several different DMAs, but their footprint did not cover an entire single DMA, so many of the media opportunities would prove too expensive for them to utilize and had to be ruled out as options.
Approach
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Initial meetings were held, to discuss the necessary “priority order of things” to come and the evolution of the bank. “The Gameplan”.
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Charting the next two years clearly so both teams understood exactly what to expect the KPIs to be and not to be, so there were no misconceptions.
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During these same meetings, all media opportunities were discussed in length, so that the bank’s team fully understood why certain mediums were feasible or unfeasible.
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A3 went to work and developed a strategic media plan that utilized both the bank’s in-house team’s expertise and our role on the outside handling digital, pureplay, OTT/CTV, streaming and all traditional outlets including cable and out of home.
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A3 recommended several outlets that were unfavorable to the bank but clearly expressed the benefit of using such tactics. The bank agreed to allow us the latitude as A3 saw fit.
Results
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Now in their fourth year with A3 Media as their agency of record, advertising budgets continue to increase year over year, and during their annual review, their SVP “thanked us for helping him look so good at every board meeting”.
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The bank has opened four new branches in the past two years and are in the process of opening two more this year.
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During our partnership, deposits have risen by nearly 24%, commercial loans by 19% and mortgages by 17%.
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In addition, to reaching their goals, they recently completed another independent market study in which they ranked #1 in local bank name recognition in their markets. Only rivaled by some of the largest national names in the business, such as Bank of America and Wells Fargo.
Summary
For any size company, achieving KPIs and media goals requires partnering with an agency that’s honest, direct, and dedicated to your goals. It’s deep research and often conveying non-viable options and longer timelines than a client may expect. It’s taking the appropriate steps necessary to bring a client’s vision to reality. A3 Media expertly assesses the needs and obstacles each of our clients face. It’s not about winning a round, it’s about winning the fight!