Marketing & Branding: Case Study

Client Situation

A leading bank had been through a number of changes in strategy, structure, and management in prior years. Some significant issues and gaps existed in marketing:

  • Large number of unprioritized marketing initiatives; limited management resources
  • Customer segmentation based on historic profitability rather than future growth and opportunity analysis
  • Lack of clear geographic, customer and product market opportunity assessment to drive marketing programs
  • Distribution channel structure was in transition - hampering ability to formulate, communicate and implement strategy

Alliance was asked to work with the management team to rapidly complete a comprehensive marketing plan to improve acquisition, retention, satisfaction, and cross-selling.

Alliance Approach

The joint team focused on a two-stage approach:

Stage 1 - Performed short-term review of strategic marketing initiatives:

  • Identified and prioritized most critical/highest payback initiatives
  • Created more detailed implementation plans for top initiatives
  • Rebuilt marketing schedule

Stage 2 - Rapidly filled gaps with highly-focused analyses:

  • Market opportunity assessment
  • Customer segmentation
  • Customer acquisition and retention
  • Competitive analyses
  • Branding and Positioning

Results and Impact

Segmentation: Focused on four major customer segments (up to $10 MM in revenues) to target high profit potential groups

Acquisition: Grew share in <$3 MM segment, with expansion into low penetration markets inside the footprint and adjacent markets

Customer Management and Retention:

  • Improved retention rate by focusing on relationship management
  • Leveraged active customer information management to generate high customer value
  • Delivered customer value proposition by emphasizing cross-sells, as well as certified financial advisory and licensing of sales force

Branding and Positioning: Repositioned as “trusted advisor” to serve all business (not just financial) needs