Case Studies: Bank

Challenge

This bank client was operating in an oversaturated market amid a declining population and economy.

They needed a growth strategy to gain market share, revenue, and profitability by taking it from the competition, which included banks, credit unions, and financial brokers.

Research identified that convenience was becoming increasingly the major issue with the target market.

Trainor was asked to help develop a strategy, including business, marketing, and advertising plans to establish the bank as the primary brand delivering convenience.

The strategy was so effective customers from competing banks would commonly refer to their Check/ATM cards by the brand name of the client bank.

  1. Challenge:

    Grow new bank accounts and market share amid an extremely competitive and oversaturated environment.

  2. Approach:

    Package “convenience” as a product in itself.

  3. Recommendations:

    “Brand” the bank’s convenience services including check/ATM card, ATMs, drive-thrus, and telephone banking.

  4. Results:

    12-month new account and deposit goals were reached in 3 months. The convenience brand became a new multi-million dollar revenue and profit center.