Grenada had seen financial collapse of several indigenous financial institutions causing despondency and uncertainty in the market. The Diaspora had also seen the collapse of large banks in their UK, US and Canadian markets during the Global Financial Crisis and were looking to re-build their lives. They needed security and reassurance that there was an indigenous financial institution they could still trust.
Our research revealed that any corporate campaign needed to inspire confidence in Grenada Cooperative Bank and particularly address the High Net Worth segment of the market in order to win new customers. Once people from other economic brackets saw this market putting their trust in the bank, they would as well. It was also important for the bank to show it was capable of innovation and reaching the young professional market, therefore we made a strong case for expanding their customer service delivery to include online and mobile banking services. Promising innovation and then delivering it was a sign of institutional strength.
A strategic corporate campaign that encouraged saving and borrowing from the Bank. It revolved around the message, “We care because you matter,” and conveyed the bank’s financial prudence, compliance with regulators, trustworthiness, performance, innovation. We played heavily on the patriotism of Grenadians with both symbolic references to the nutmeg and to Grenadian wisdom and loyalty to fellow citizens. “Welcome Home” which is also the Bank’s tagline, resonated on a different level as it now encouraged the Diaspora market in particular to put their faith in Grenada Cooperative Bank. The campaign included an endearing 3D Animation television commercial, a jingle, press ads, in branch signage and activations in branch, across the island and in the diaspora markets.