Big Ideas, Lasting Value for Financial Services Organizations

“Princeton Partners is a true partner in our business and an extension of our marketing team. The results that we have generated together have been nothing short of stellar.”

– Denise Pace-Sanders, SVP, Brand and Marketing Director

Since 1921, Peapack-Gladstone Bank (PGB) has provided wealth, lending, and deposit solutions with an emphasis on private banking. PGB wanted to grow its client base, particularly in its wealth management division. However, its brand needed to resonate across all their divisions, including retail and commercial.

Princeton Partners recognized that PGB’s emphasis on private banking created a customer service culture that elevated its approach across all service lines. In fact, to them, all banking is private banking. That became the big idea behind a new brand platform that emphasized PGB’s delivery of quality in everything they do. For look and feel, we updated PGB’s traditional bank branding with modern luxury branding. So far, our efforts have helped the bank increase total assets by 25%.

Grew deposits by 108%

Peapack-Gladstone Bank needed to increase deposits to support loan demand but faced significant challenges. A low-rate environment had heightened competition for CD deposits. The Bank’s remaining marketing budget was modest relative to campaign goals.

Most importantly, investing in CDs was not always intuitive or attractive with PGB’s primary audience: high-net-worth individuals. Because of this, PGB wanted to attract deposits from higher income consumers who were not necessarily high-net-worth wealth management targets. PGB put a four-week timeframe on the CD rate offers.

Princeton Partners approached campaign solutions by strategically aligning PGB’s brand positioning to the promotional CD offers and delivering the message to the marketplace through a hyper-targeted, data-driven media approach.

Messaging focused on relating PGB’s values to the CD offer. For example, lines like “Great rates are just the beginning” promoted PGB’s CD rates as well as the overall growth strategy and relationship that the Bank builds with its clients to help them achieve their goals. With an integrated, multi-touch media mix, we were able to alter messaging throughout the campaign based on successful engagement insights.

Results far exceeded anyone’s expectations. During the campaign’s four-week period, deposits increased 108% compared to a typical four-week period at the Bank. New money from CDs exceeded $15 million. And new account generation increased by over $72 million.

“The team at Princeton Partners played a critical role in helping us articulate our values and purpose. The brand they created has transformed HVB’s culture, inspired investors, and really resonated with customers.”

– Travis Thompson, CEO

Huntingdon Valley Bank (HVB) is a mid-sized community bank serving the people of Huntingdon Valley, PA. They have a reputation for offering quality financial products and excellent customer service. This is particularly true in their mortgage department where they pride themselves on taking the headaches out of the home-buying process.

When they approached Princeton Partners, HVB was preparing a market capitalization. However, the bank’s leadership team felt that, until the bank clearly defined its purpose and values, it could not fully reach its potential.

Using our proprietary UBI Branding Process, we articulated the bank’s purpose: to bring joy to customers through banking. We worked with the leadership team to define the values that would help the bank meet that goal. We then aligned all elements of the brand to the purpose.

HVB is now “The Better Experience Bank” with a new logo, website, signage and collateral. The leadership team credits the new branding with helping them re-energize the organization, excite investors, and set a foundation for solid growth for years to come.

Drove 80% of the bank’s new Demand Deposit Accounts while only handling marketing for 8% of PNC’s total branch locations.

PNC Bank offers complete commercial, retail, and investment banking services to over five million customers. The bank wanted to turn around underperforming branches and open new branches across eight states. Our strategy was to make PNC, a giant bank, feel like each community’s local bank. For every new branch, we assembled a community guide that informed bank staff about local leaders, organizations, events, and media outlets. We then created pre-opening plans, Grand Opening Celebrations, and sustaining promotion programs, tailored to each location.

Pre-opening promotion included local media programs and street teams. The Grand Opening Celebrations invited community groups to participate and provided space and forums for fun interaction with families. Following the Grand Openings, we sustained interest in the branches through annual community-focused promotions, corporate sponsorships, and sweepstakes packages. The result: Princeton Partners drove 80% of PNC’s new checking accounts while only handling marketing for 8% of the bank’s total branch network.

“Princeton Partners’ EDA Was Here campaign really helped us connect with the small and mid-sized businesses we serve. They’re a pleasure to work with.”

– Pat Rose, Marketing Director

The New Jersey Economic Development Authority (NJEDA) is an independent State agency that finances small and mid-sized businesses, administers tax incentives to retain and grow jobs, revitalizes communities through redevelopment initiatives, and supports entrepreneurial development by providing access to training and mentoring programs. It is an important partner in the economic growth and development of New Jersey.

Princeton Partners created a new brand for NJEDA that explicitly ties it to the success of businesses it has helped. This is captured in the tagline “EDA Was Here.” Successful small and medium-sized businesses became the proof points for EDA’s ability to positively impact business growth.

Princeton Partners also initiated a change in media strategy. While maintaining a presence in print, digital has been added to the mix, and is growing in importance. This allows for better targeting, tracking of results, and testing of specific messages for effectiveness and response.

The results and response have all been positive. Inquiries have grown significantly, and senior management has extolled the valuable partnership it has with PPI. In fact, it has just launched a new campaign aimed at small and mid-sized businesses that is based on an insight and recommendation that PPI brought to EDA. Initial response to this new campaign has exceeded expectations.