Third Wing built a memorable introduction for a new bank in a community and continues to expand its brand awareness.
CASE STUDY – Community Southern Bank
Opportunity:
A group of banking and business leaders in Lakeland, FL had a vision of creating a de novo bank that would be a unique resource for the local community. In a market already flooded with large national and regional banks, the client knew they needed to make a powerful first impression and could not afford to look small or insignificant. The group sought the assistance of Third Wing to provide them with a strong and memorable introduction to the market, as well as continually build brand awareness as it matured.
Approach:
Initially, Third Wing helped the bank rapidly develop a polished and professional corporate identity for use in raising capital. Subsequently, the assignment was to develop and execute local promotional marketing and advertising campaigns to establish Community Southern Bank as a legitimate and recognized brand in central Florida.
A striking corporate identity, including logo, signage, tag line (“A New Direction in Banking”) was developed along with a compelling investor presentation. Efficient long-term media contracts were negotiated, including a highly visible and ‘ownable’ location on the local paper’s business section. Other strategic steps including developing guidelines for a unique “Advisory Board” of local business leaders to gain important community support. Unusual and highly visible tactics included ‘car wrapping’ the bank’s courier vehicle and creating a community charity program to further strengthen local area involvement at minimal cost.
Challenges:
1. Creating a recognizable and appealing corporate identity for a new bank competing against
giant national and regional brands
2. Modest advertising budget
3. Developing community support among a wide cross-section of business and local citizens
Rewards:
Community Southern Bank successfully opened its first branch in Lakeland, Florida in August 2006 in a crowded banking market, and CSB quickly became a recognized and trusted community-based brand.
In 2009, with a second branch built and launched, community acceptance well-established, and assets well over the $166 million mark, a strong brand awareness campaign continues to capitalize on the bank’s favorable reputation in the market.