Opening the window for growth with a new name and competitive positioning
Challenge
New Mexico Federal Credit needed a new name and competitive position to meet aggressive growth goals. We helped them answer the following strategic questions: -What name will allow us to attract members beyond our core? -What is the decision-making process that prospects walk through to choose a bank? -How can we evolve the equity in our brand to increase the affinity for our offerings? -How do we evolve our culture to stay in step with our evolution? -How can we proactively measure our brand performance to demonstrate success?
Solution
From research and strategy to creative and engagement, our approach was multi-faceted, yet outcome-focused. It included: -Competitive and trends analysis -Rigorous primary research -Brand strategy development -Competitive positioning/ brand pillar development -Messaging -Visual expression and identity -Employee engagement -Communication strategy -Bringing the brand to life -Marketing execution -Naming -Customer touchpoint journey -Experiential design
Results
+ 36% Increased lending volumes + 63% Increased deposits + 9% Increased membership INCREASED organizational knowledge and alignment meant huge increases in lending volumes and deposits
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