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Belmont National Bank
CHALLENGE: Belmont National Bank wanted a unified effort combining market research, marketing consultation and advertising execution to help take the next step in positioning itself as a successful, leading, profitable, stable and reputable institution.
Although BNB was recovering internally after a highly publicized bad loan incident that put the bank in a very negative light, the bank thought the public still perceived it as doing business the "wrong" way. The brand and the image had gone sour.
STRATEGY: First, we conducted customer and internal surveys, in addition to management interviews to clarify perception. We coupled this with market segment research to assess BNB’s market penetration, new business and cross selling.
We found BNB had real potential to expand its customer base in each of its markets especially with "lower affluent" and "mass-market" segments. The biggest consistency we found in the bank was an overwhelming sense of a new start. So we capitalized on that. The macro view was to reinvent the image by branding the bank as "new and improved."
As part of this strategy we brought in and partnered with other firms to head up a public relations dream team.
EXECUTION: We created an integrated marketing plan that started at the top. The CEO would, in a positive manner, acknowledge to the public through speeches, press releases and an aggressive advertising campaign that BNB had listened to the public about the institution and was making some big changes over the next couple of years.
Across all media, it was communicated that BNB has made banking better. The design, the copy and the tone of the marketing effort were developed to appeal to market segments in which BNB could grow. The campaign we initiated to re-brand the bank included specific product and services components all under the umbrella of a consistent look and message of banking made better.
As part of the makeover, we began to change the name from Belmont National Bank to BNB. The logo was tweaked. We helped the bank institute a two-year process of internal branding, from customer tactics to signage to posters to making sure all the buildings were painted blue and the offices and collateral pieces were consistent.
RESULTS: In the first year, BNB had its biggest growth ever in home equity loans and in new customers. The bank employees, administration and board of directors all reported significant positive community response to the new image campaign. BNB’s internal commitment to backup the re-branding strategy with better products, better service and a new direction paid off as stock value rose dramatically and dividends were declared for shareholders.
By all accounts the re-branding was successful and was instrumental in laying the groundwork for Sky Bank to acquire BNB.
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1618 Jacob St., Wheeling, WV 26003