STATE BANK & TRUST COMPANY
Brand Development Campaign
State Bank, a large, relatively young firm based in Georgia, sought to expand their consumer banking after its successes with B2B customers.
Enter Elevate Media.
Conducting research into the field of banking and customer acquisition strategies, we discovered a couple of things. First, brand awareness was one of the most important components of acquiring new customers for banks. According to the 2015 Consumer Banking Insights Study, 71% of consumers say a recognizable brand name is at least somewhat important when it comes to choosing a bank. Secondly, millennials (ages 22-30), particularly on the younger end, represented a prime target for bank customer acquisition. Given that most people tend to develop habits and preferences in banking as they grow older, young millennials have the lowest switching cost in banking out of most age demographics and are just beginning their financial independence. Based on that reason and other research conducted, we concluded that millennials would be the best target to market to and State Bank needed to focus on building its brand first before focusing aggressively on converting its audience into customers.
Our goal: Build State Bank’s brand.
To build State Bank’s brand, Elevate Media decided to employ a content marketing strategy, focusing on content that millennials would find useful. Of note, according to the 2016 Better Money Habits Report conducted by Bank of America and USA Today, high percentages of young millennials stated that topics such as “how to save for retirement”, “how to do taxes”, “how to manage monthly bills”, and more were things that they wished they knew more about or had learned in school. Thus, those topics became integrated into the type of content we needed to produce. To distribute this content, we chose Facebook as the primary channel, given that 88% of all online adults between the ages of 18-30 use Facebook, making it a powerful platform for any content marketing within our target demographic. We also noted that State Bank could explore other applicable channels in the future.
With that, Elevate Media worked with State Bank to create the Young Professionals campaign, a two-month Facebook campaign dedicated to providing financial knowledge for young professionals in Georgia. With an overarching goal of building State Bank’s brand, this campaign was designed to achieve two things: build a baseline amount of content for State Bank’s Facebook page, and increase the reach of State Bank’s online presence, specifically its social media.
As young professionals ourselves, we wanted to create content that would appeal to us, too.
So, that’s what we did.
Now that the campaign dates were set, it was time to produce the content.
The Mountain Biking video followed the general campaign message that people absolutely can and should enjoy themselves. The goal was to produce content that didn't necessarily purely advertise State Bank, but entertained people.
The Through The Generations video compared people at different stages of life and how they approached banking. It was designed to be short, sweet, and relatable.
As part of our campaign's goal of empowering people, we produced this video to convey the message that people absolutely can and should enjoy themselves.
Breaking down information into simple bites works for conveying normally complex information to a wide audience. For retirement savings, we chose the three biggest types and illustrated them with cute pigs.
"We're going to do something that no bank has ever done before." We wanted to show our audience that, yes, we were real life working professionals producing content for working professionals.
At the end of each week, we summarize all of the content into a single article that goes more into depth on the topic. It also served as our big call to action to drive traffic to their company website.