The Sound of Success
CLIENT
Northeast Bank
CAMPAIGN
Commercial Customer Acquisition
INDUSTRY
- Banking
SERVICES
- Data Analytics, Design & Copywriting, Print & Fulfillment, Segmentation Strategy, Strategic Marketing
Executive Summary
A prominent northeastern bank with 54 branches sought to bolster its portfolio of mid-market business banking relationships. Faced with stiff competition, the bank was seeking assistance in getting more meetings for their business bankers. They asked Whale for help in crafting a dynamic and engaging campaign that would excite business owners.
Campaign Objectives
1. Identify growing business prospects within their local markets.
2. Develop an awe-inspiring campaign targeting decision makers.
3. Set the stage for the recipient to accept a meeting with the commercial banker.
Whale Strategy
Every industry and company encounter unique challenges, and in this instance, the biggest hurdles were making sure that the marketing communication resonated with the end-user and that the outreach was differentiated in this competitive market.
During our research, Whale uncovered that one of the unique aspects of our banking client was a corporate culture that valued listening to clients’ needs and tailoring solutions to the business. Whale capitalized and built the framework of this campaign on this idea: “never underestimate the power of listening.”
Whale Solution
One critical aspect of this engagement was that we did not purchase an off-the-shelf list of business prospects. We leveraged unique data resources to identify businesses that were exhibiting years of consistent growth. Our hypothesis led to the development of a highly targeted list of businesses that were experiencing growing pains and needed a more holistic business banking solution.
The creative process led our team to develop the “Sound of Success” campaign. This campaign featured the delivery of vinyl records along with a customized booklet explaining the benefits of working with our banking client.
Whale Deliverables
Whale’s high-impact campaign strategy centered around an upscale package featuring a vinyl pressing of The Beatles White Album, housed in a bespoke, branded kit enhanced by a personalized booklet introducing the dedicated business banker and encouraging that prospect to schedule an in- person meeting. As a compelling incentive, prospects were offered a Crosley record player and an extra vinyl album of their choosing upon confirming their meeting date.
Success and Results
The results speak volumes: Based on a targeted list of 40 businesses, our client secured (17) appointments – a 45% response rate. The client gained 7 new commercial clients (18%) resulting in the following activities:
Deposits Over $3,000,000
Lines of Credit Over $5,000,000
Business Loans Over $7,500,000
The total campaign ROI was over 2,000% – and the client realized Year 1 revenue of $505,000 from our unique marketing efforts.
Future Plans & Optimizations
This campaign can extend its reach into other niche industry groups, leveraging the ability of commercial bankers to attentively listen and customize financial plans to precisely match the unique requirements of prospective clients.
Client Feedback
“The Whale all-encompassing marketing campaign was a resounding success. It has not only elevated our brand presence in the market but has fueled our business growth and strengthened our relationships with clients.”
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