Norwood Bank

INDUSTRY: B2C Banking

OUR ROLE: Strategic Planning | Digital Brand Strategy | Strategic Media Planning

Concept Development & Creative Execution | Product Naming | Outdoor, Print, Radio Pandora, Digital Banners

Differentiating Norwood’s mobile bank offerings in a sea of disparate and cluttered bank messaging

As the popularity of the mobile “branchless” banking experience increases, differentiation through marketing will drive the perception of which bank offers the best mobile experience. Stackpole guided Norwood down the path towards brand differentiation.

Norwood enjoyed a steady presence in their trading area for over 100 years, and just recently invested in the latest digital banking technology. To rise above the fray and attract attention, they needed to combine their heritage of high level customer service with the convenience and freedom of branchless banking. With strategic objectives centered around shaping market perceptions, influencing customer behavior and ultimately acquiring core accounts, Stackpole recommended a marketing strategy that would position the bank’s offerings as best-in-class and begin to change perceptions about user-benefits of mobile banking.

Most banks market mobile services as stand-alone apps as they became available; the net result of this is pure commoditization of the mobile banking experience. Stackpole wanted to move beyond parity product features and benefits to brand the untethered banking experience that Norwood could offer.

Branding the experience – introducing Boundless Banking.

Stackpole began with a name exploration phase for Norwood’s mobile banking experience, with the name Boundless Banking being selected by the marketing team.   Using the word boundless was intended to inspire a connection to the idea of banking with the emotional feeling of freedom.  By promoting Norwood’s mobile banking experience as Boundless, we help to change perceptions and promote the lifestyle shift that occurs once users embrace mobile services.

Creative that focuses on the user end-benefit

Next Stackpole created a retail banking campaign to effectively position Boundless Banking as the best mobile banking experience in the local trading area. Focusing on the greater Norwood market, the campaign was designed to establish Norwood as a leader in the category while continuing to promote customer acquisition and product promotion. The multi-channel campaign consisted of print, outdoor, Pandora radio and digital ad campaigns that feature the mobile phone in everyday, familiar places – such as a wallet or pocket – with the headlines reminding the reader that these everyday places also represent where your banking can be conducted also.

Digital banners were placed in targeted Yahoo media with the headlines such as “You’ve got a busy life, take your bank with you”, showing a mobile phone in a pocket. Landing pages were designed in the same theme to compliment the banners and help Norwood capture customer data.

Next, MBTA posters were created to capture the attention of Norwood’s busy audience during their commuting hours. A strategic media placement that helped the “You’ve got a busy life” concept speak directly to the bank’s audience during their busy daily routine. Headlines read “Welcome to our newest branch, it’s called your pocket” with photography showing a mobile phone in a purse, pocket, wallet. Graphic icons in the posters helped the bank promote key mobile offerings – Mobile Deposit, Transfer Money, Check Balances, and Fee-Free ATMs.

Radio spots were also produced for Pandora to help raise awareness and drive traffic to the Boundless Banking landing pages. Pandora is a perfect fit for Norwood’s mobile, digitally inclined audience – the spots stream directly from the Pandora app, and users are able to click through to the Boundless Banking landing pages from the ad window that is displayed. Pandora’s demo/geo-targeting capabilities help us deliver the ads to specific customers based on a range of criteria, ensuring we reached the optimal potential customer base. Both spots continue the “You’ve got a busy life, take your bank with you” campaign theme of the print and outdoor.

Listen to the radio spots here:

Boundless Banking is easy to learn and use. And the benefit of convenience so great that we wanted to demonstrate the Boundless story in a simple and engaging way— in the Norwood Bank brand voice.  From a media standpoint, local cable was a great option in this local trading area, so we wanted to leverage the great CPM reach, while engaging with our customers in a different way.  With an eye towards extending the value of Norwood Bank’s investment, we produced a motion-graphics video which allows us to repurpose the video through amplification in Social Media channels and on the Web.

Watch the video:

Norwood Bank: Boundless TV Spot from Stackpole on Vimeo.

Achieving results – above and beyond predictions

The campaign exceeds expectations. After the initial launch phase, Norwood acquired over 289 new accounts and also saw an increase of over 28% new mobile banking users during a 2 month time-frame.