Client Description:

Seneca Savings is a local, community bank with more than 85 years of experience serving the Central New York area – offering a creative suite of flexible products and services for residential and commercial customers.

MPW was asked to:

  • Set forth an overall marketing strategy that encompasses more than the traditional media
  • Address the misconception of being old and out-dated
  • Provide regular support on allocating marketing budget dollars and goals
  • Appeal to a younger audience

Challenge:

Seneca Savings has a need to combat a perception that the bank is old-fashioned, both in their products and approach to banking. The bank needed to replace and build upon an aging customer portfolio. The growth of the number of deposit accounts, as well as the amount of money deposited with the bank, is crucial in ensuring the long-term viability of the bank and will enable Seneca Savings to develop and offer new products.

Approach:

Our approach was to start putting a face to Seneca Savings. By presenting the leadership of Seneca Savings in new television spots we would highlight their availability and approachability. Many people make a connection with those they see and can relate to. Putting a face with the name of the company is a method that has seen positive results for MPW clients in various industries.

Recommendations:

MPW planned a new approach to the marketing budget that includes television spots, social media, a responsive website design and pay per click campaigns. We created strongly branded media outreach efforts on various mediums with a clear call to action driving current or potential customers to the Seneca Savings website or branch.

MPW also recommended the development of a new product – a kit to make it easy for new customers to switch banks to Seneca Savings. The idea behind this kit is that it will help potential new customers overcome the first and biggest objection to switching banks: that it is a hard, tedious and labor-intensive process. By helping people through the transition, Seneca Savings can obtain more new accounts while showing they care about their customers in the process.

Results:

Through the execution of this strategy, MPW was able to increase media efficiency by 45% through negotiations and proper allocations. Seneca Savings continues to see growth in all aspects of banking through a greater brand recognition from current and new customers through TV spots, social media, print and online campaigns.