1st Source Bank was the first and largest local banking chain in the Northern Indiana region. The financial system built its brand on in-person banking and a close connection to local communities.
But 1st Source Bank was becoming concerned their brand was losing relevance in an increasing digital landscape.
- Primary + Secondary Research
- Persona Development
- Branding + Positioning
- Focus Groups
For 1st Source, our Insights + Analytics Team completed a large-scale Discovery process in order to uncover insights into the banking consumer’s behavior.
In addition to the Discovery, our LEAP Panel team also hosted stakeholder interviews with 1st Source Bank’s team, asking questions like:
What level of
from their bank?
What are consumers’ preferences
for marketing content, including
how audience segments
responded to specific aspects of
brand voice or positioning?
What are the
preferences and needs
of Gen Z and Millennial
LEAP Panel also hosted eight focus groups within three of 1st Source Bank's key cities, to understand the audience’ behavior, attitudes and preferences surrounding banking.
the local bank
The focus group helped us realize that 1st Source Bank was not well known in its area, but when it was mentioned, the financial brand was often associated with good customer service.
1st Source Bank was known for being “local” amongst its national competitors. This insight was welcoming amongst community members, but also seen as less convenient than its competitors. While “community” was important to 1st Source Banks audience, focus groups led us to determine that it was ultimately not a priority when it came to making a bank selection.
These insights also helped us understand what led to banking retention and achieving new leads. Ultimately, this Discovery led to user personas that informed journey maps. We took these personas and developed a marketing strategy that would hit 1st Source Bank’s audience at the right time, with the right message, on the right channel.
Our focus groups led us to understand 1st Source was not marketing to younger Millennials and the older Gen Z audiences, who were key targets for new acquisitions as well as a targeted audience looking for a trusted bank.
Additionally, the financial institution had an opportunity to expand its market outside of townships where it was local. LEAP Agency helped them expand this reach, as well become the primary source of education for financial literacy, which was a big tool for new client acquisition.
This audience had a desire for mobile and digital banking technology that could easily be integrated into their daily lives.
And even the creative was well-researched. Once concepts were discovered, our LEAP Panel team took options back to the focus groups to see which one resonated most – and why – amongst 1st Source Bank’s target audience.
Our research informed the creation of a cohesive, creative campaign including:
- Advanced TV
- OOH Media
- Bus Stop Ads
- In-Store Signage
And, most importantly, we created concepts for technology integrations with current banking apps with a specific target on Gen Z audiences.
And, most importantly, we created concepts for
technology integrations with current banking apps
with a specific target on Gen Z audiences.
New creative meant updating branding.
On all creative assets using the “Together on All Accounts” motto required additional logo work and coloring.
1st Source Bank’s new creative exhibited a
increase in CTR on
YOY increase in sign-ups
from the Millennial audience.