helping a community bank strengthen brand equity, increase market share, and attract priceless attention
Old Florida was a community bank consisting of 10 branches throughout the Orlando region. Our charge was to reforge a magnetic brand that would help them increase market share and their perceived value. And the wildly competitive banking industry provided the perfect challenge.
From the onset, we concentrated our efforts on conceiving and creating a stronger brand and communication platform that would help their voice stand out, resonate with local consumers, and reinforce who they are, and, precisely who they are not. After conducting market and competitor research and multiple branding charrettes and workshops with the executive team, branch managers, and other bank stakeholders, the brand concept that would fuel our efforts emerged: “Bank Local. That’s our statement.”
The marketing strategy we developed leveraged social media, minimal traditional advertising, grassroots marketing, and a unique social-media based philanthropic crowdsourcing initiative.
The campaign and recalibrated brand for Old Florida succeeded in strengthening their market position and consumers were not the only ones to notice. Less than 8 months after launching the campaign, Old Florida was vetting two purchase offers before eventually accepting IberiaBank’s to the delight of shareholders. In the end, we succeeded in turning this community bank into a home-grown favorite and a hot commodity.
The success of Prismatic’s strategy and creative can be measured by the national industry attention we received. I believe that the Bank Local campaign was the catalyst we needed to attract a like-minded company, IberiaBank, with whom we could entrust the customer relationships we had built.
Robert L. Thompson
Senior Vice President + Chief Marketing Officer