Take on larger competitors in an increasingly competitive banking market.
The bank’s core customer base appreciated its local, highly personal style of doing business. We needed to reboot the brand and create a marketing campaign that crystalized that message for a wider audience, in a compelling way that could drive growth. (All while spending a lot less than the bigger banks that Newtown competes with.)
Feeling confident about finances is possible — with the right partner.
Except for hedge fund managers, most people don’t feel confident about their finances. And most banks’ marketing campaigns emphasize products, instead of empowering their customers. We saw that “white space” as an opportunity for a highly unique positioning. And it inspired us to create a new branding campaign, that would celebrate the customer more than the products.
To more fully understand the bank, we got out from behind our desks and met their customers.
Newtown Savings Bank has deeply satisfied customers, but we learned many were unaware of the numerous other services the bank offers. We also discovered that the bank’s best prospects were predisposed to a more personalized, customer-driven banking experience, versus big transactional banks -- yet neither audience was actively looking for new solutions or offerings.
Initially, we created four potential marketing campaign concepts.
Then we put them through creative testing. Which ideas had 360 potential, the ability to go from print, to digital, to in-branch materials? How would they be received by audiences seeing them for the first time? Which ones most effectively conveyed the intended message?
Banks had featured customers before. But never like this.
To demonstrate how Newtown Savings Bank empowers customers, we made them the hero of every ad. The Power Of Local campaign features real bank customers, photographed locally, with their first names written large and colorful. Only after the copy illustrated the customer's empowerment did the ads touch on the products that got them there. This was fresh, unexplored territory for bank marketing.
The Power Of Local brand campaign had an impact on marketing – and beyond.
The brand repositioning and its dynamic, bold creative drove positive business results including an increase in mortgage starts and brand awareness. The positioning also became a guiding star for internal initiatives and community engagement, including the launch of innovative products like Great Start Savings and a new local credit card program.
|66%||Increase in unaided brand awareness|
|52%||Increase in core market awareness|
|60%||Increase in paid search checking starts|
|21%||Increase in mortgage starts|
|24%||Decrease in cost per mortgage starts|