Using Story to Transform a Local Bank into a National Institution

OVERVIEW:
A multi-regional bank was looking to increase its commercial banking opportunities across several designated markets. They needed to differentiate their brand away from being just another community bank. The CMO wanted to ensure they included the perspective of the bank’s customer in developing the strategy and looked to find a leader in design thinking that had deep change management experience.

APPROACH:
Stonehill began by facilitating several design sessions to capture the viewpoint of customers, employees, and financial stakeholders. Stonehill offered strategies focused on increasing the bank’s growth and brand expansion. In the first strategy, representatives of the bank would surprise the community through “popup moments” and provide a unique benefit.

Representatives executed this idea by delivering chess sets to a local school's nationally-ranked chess team, delivering whiteboards to a school that expressed the need in a local paper, and delivering breakfast to police officers the morning of a local parade. Another “moment” included popping-up in a municipal garage to pay for the parking of attendees of a local chamber board meeting. Each of these left an impact on the recipients and offered opportunities for media coverage to promote the brand.

The second strategy focused on connecting with women business owners and leaders. Prior to Stonehill's involvement, the bank hosted occasional luncheons with customers of the bank. Stonehill changed the program’s focus and created a new mission of “making women business leaders rock stars in the community.” This began with Stonehill identifying established and upcoming female leaders in the community. he focus would not be on “banking” but on the woman business leader’s business and work to drive opportunity for them. 

RESULTS:
By taking the time to understand and document the bank’s people and processes, Stonehill was able to assist the bank in increasing its reach and its revenue. The bank increased their brand’s visibility and developed relationships with prospects for their commercial offerings.

If Stonehill can help your business identify opportunities, create change and accelerate growth, please contact us at info@stonehillinnovation.com.