For nearly 150 years, the Bank of Stockton has been the biggest and strongest community bank in California’s Central Valley. This bank exemplifies and stands for stability and trust. Due to digital technology and changes in banking, the number of transactions happening at this bank had declined substantially. These downward trends were especially evident within the under 35 age group, although the bank’s average customer age is 56. The key challenge? Improving the Bank of Stockton’s current and past brand positioning, and producing financial services ads with a message more relevant to the bank’s “Credit Driven” target.
After a careful competitive analysis, Palmer developed the following positioning statement: “For financially responsible adults living in California’s Central Valley, Bank of Stockton is the one locally owned and operated bank … That combines a history of community involvement with advanced banking technology … To provide a more friendly, modern and inclusive banking experience … Resulting in friends instead of customers.” This statement is embodied in the blue water for Bank of Stockton: Community Focused with a Personality.
We developed the “Unique Marketing Position” in addition to a “Go To Market Strategy” which consisted of:
Responsive Web Design | Retargeting Web Banners | Landing Pages | Social Media Ads | Microsite Television and Digital Video Ads | Integrated Banking App | Secure Access Login | Text Alert Notification
Management was very pleased with the results of this first ad campaign, which introduced new customers to the bank’s lending capabilities. Word of mouth was very positive within the customer base, in addition to promoting the bank, its identity and its services, to the market at large.
At risk of being left behind in modern growth, Bank of Stockton reached out to Palmer for some revitalization and stability in a market becoming more accessible to a younger audience. Palmer’s work ensured that process was a success.
Reaching out to a younger audience meant needing specialized tools the new generation was used to using. Palmer implemented a secure mobile banking app to help Bank of Stockton compete with even the biggest competitors.