Flagstar Bank
DOES YOUR BANKER FIND JOY IN THE ART OF BANKING?
BANKING HAD LOST ITS ART. THE JOY WAS GONE.
In our research, we discovered the top 15% of banking customers represented 85% of the bank deposits. But, when we spoke with those customers, they explained that they miss the personal relationships they used to have with a bank. Mergers, change of leadership, and lack of creativity to solve their unique financial needs had put them in a mood to change banks.
THE CREATIVE CAMPAIGN
After discovery sessions with internal stakeholders, several hypothesis strategies emerged for the brand. We narrowed the options through a series of focus groups and matched pair analysis studies, using animatics and adlobs:
Concept 1
LIFE TOGETHER
One of the ideas tested was: “Life Together.” The focus was on a bank taking a personal interest in the success of the customer - financing life’s most important moments:
Concept 2
CRAFT BANK
The second concept tested was "Craft Bank." This alternate concept focused on custom solutions and offers from a personalized experience.
FINDINGS
“Life Together” focused heavily on the life-long connection our customer hoped to have with their bank. “Craft Bank” focused on the care and precision that Flagstar employees crafted into their financial solutions for its most special customers.
In tests, both campaign concepts more than doubled the impact of the existing campaign.
WHY “CRAFT BANK” WON
“Craft Bank” was chosen for its ability to differentiate amongst the many competitive banks. Importantly, “Craft Banking” most connected with the 15% of the population that held 85% of bank deposits.
While the "Life Together" concept drove a higher level of interest, it was viewed as a brand position offered by many banks in the marketplace. However, the "Craft Bank" concept was viewed as a brand position that none of the large, out-of-town banks could fulfill. Only a Michigan-made, medium or small bank brand could deliver on such a promise.
THE BRAND PROFILE
The profile was developed to express the message to each audience including the B2B customers who would be key to the campaign’s success.
RESULTS
15% = 85% of Deposits
Top Customers
2x+ Existing
Campaign Impact
SERVICES COMPLETED
Campaign Strategy
RELATED WORK
LET'S WORK
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