Involving the community in renaming your brand pays dividends.

Citizens Union Savings Bank’s name lacked distinctiveness, causing confusion with competitors like Citizen’s Bank. Furthermore, “Union” in the title unintentionally steered some towards credit unions. To top it off, their logo was outdated, failing to make a memorable impression. Their brand awareness, a crucial metric for any bank, languished in 13th place.

Opportunity

The looming merger with Bank of Fall River presented a golden opportunity. Mergers can be disruptive, but for Citizens Union, it was a chance to shed its old skin. The challenge? Crafting a new identity that resonated with the community, addressed customer concerns, and distanced them from competitors.

Transition

Here’s where the collaboration between Sean Tracey Associates and Citizens Union truly shined. They agreed on the power of community. Instead of a top-down approach, STA recommended embarked on a captivating campaign called, “Guess Our New Name.” Weekly clues were revealed through media blitzes, turning the name change into a community guessing game. Prizes fueled the excitement, with conversations spilling over coffee shops and even onto lawns adorned with homemade signs supporting the bank. 

The “Guess Our New Name” campaign was a resounding success. It fostered a sense of camaraderie and excitement, pulling the community closer to the bank. BayCoast Bank perfectly captured the bank’s commitment to serving its customers and community in a way that felt, well, “Just Right™.” It resonated with the marketing principle of “liking” – people do business with those they like and feel a connection.

Results

In the end, the bank emerged victorious from its journey. Its unaided awareness went from 13th to 3rd place in the market, an unprecedented jump that surpassed even the independent researchers’ expectations. The bank’s new brand, BayCoast Bank, was a hit, and its positioning as a bank that does what’s “Just Right™” for its customers and community resonated with people.

Through their journey, the bank and STA learned that by engaging their community in a fun and meaningful way, they could transform their brand and build a lasting connection with their customers. The bank became the hero of its own story, emerging from its journey with a new sense of purpose and identity. Its success serves as a reminder that, sometimes, the best way to navigate a difficult journey is with the help of a mentor and a little bit of community support.