Flagstar Bank.
Does your banker find joy in the art of banking?
The Why.
Banking had lost its art. The joy was gone.
“We do so many great things, but no one knows,” Flagstar bankers told us. Years of running cash offers and bank rate advertising had eroded the Flagstar brand. Productized as the discount rate bank, the bankers weren’t being taken seriously as a business bank for high-profile customers.
We USED SCIENCE TO BRING BACK THE ART
The Way.
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:
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:
The second concept tested was "Craft Bank."
The alternate concept focused on custom solutions from a craft bank.
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.
In tests, both campaign concepts more than doubled the impact of the existing campaign.
“Craft Bank” was chosen for its ability to differentiate amongst the many competitive banks’ messages. Importantly, “Craft Banking” most connected most with the 15% of the population that held 85% of bank deposits.
The Work:
DBA crafted a multi-platform digital video campaign, capped by a Super Bowl TV spot for the launch:
brand awareness grew 23%
Results:
Bankers found their happy place.
Internal employees were empowered to serve customers "crafted solutions" under the new promise of personalized banking.
Branding did its work.
Within eight months of the campaign launch, brand awareness grew by more than 23%.