Case Study
Located in Shreveport, Louisiana, ANECA Federal Credit Union has more than $106 million in assets and more than 6,500 members. Nearly 50% of the area’s market share is owned by three banks: Capital One, Chase and Regions, leaving ANECA to differentiate as the fun, local, alternative to “take a number” banking.
The credit union supports its “We’re Different That Way” position with a mission to support the economic growth and development of the Shreveport/Bossier area.
ROI Guaranteed Results
Successful marketing generates interest before it generates sales. By repositioning
“basic free checking”in a whole new way, we increased page views by 974%.
THE CHALLENGE
Most competitors in this market offer a basic free checking account. During competitive shops, when asked about their checking accounts, the competition used phrases like, “It’s just a free account.” But ANECA doesn’t offer “just” checking. They are Different That Way. To increase checking accounts and gain new members, we needed to take a fairly “me too” product (free checking) and differentiate it in a way that made it more than “just free checking.”
THE SOLUTION
The Shreveport and Bossier City, Louisiana, market is dominated by younger families, and 23% of the market is in the age range of 21-34. These customers are just starting to experience new careers, marriage, young children and home ownership. As this group is accustomed to customization in most consumer experiences, we repositioned the checking account as “customizable,” allowing customers to select any or all available “add-on” features to help them better manage, access and secure their money. The name, True Blue, draws on ANECA’s signature blue brand color, while also speaking to the idea of checking that’s “true to you” because it’s customized by you.
MEDIA PLAN
The True Blue Checking launched on November 1, 2018, and November and December media placement included:
• Digital media (Google and Facebook display ads)
• Outdoor
MEASURABLE RESULTS
True Blue Checking was a true success. The new positioning raised interest in the checking account. In just two months, the product-specific True Blue Checking webpage was the seventh most active page on ANECA’s site, with 5,653 page views. In fact, the True Blue page came out ahead of pages that were active all 12 months, including our previous checking page, which had 2,632 page views all year.
That represents an increase of 973.90% in average monthly page views!
The campaign also generated the following in two months to achieve our page view goal:
420,649
420,649 targeted impressions
2,867
There were 2,867 recorded
clicks on targeted ads
0.68%
The click through
rate was 0.68%
ARE YOU READY?
There are many ways to approach marketing but only one that we believe really works: MarketMatch’s holistic Marketing Without Limits approach. If your bank or credit union is ready to experience truly data-driven, bottom-line enhancing results, now is the time to act!