- Consumer
- Research and Strategy
- Branding and Design
- Marketing and Advertising
- Digital Marketing
OceanFirst Bank
Ready, Set, AmiGo. A New Way to Bank Digitally.
“Bank branches are the world’s most expensive billboards.” OceanFirst Bank’s CMO is right. With the near-total adoption of online banking, very few people ever visit brick-and-mortar branches. But at the same time, these branches are constant reminders to people that this area is a part of our footprint. Which begged the question: Could a bank expand into a new market “digitally,” without building any new branches?
The Strategy
We worked with OceanFirst to determine if they could expand their footprint into a new market, using nothing but digital tactics, more cheaply than opening and operating a new branch. We helped name, brand and market OceanFirst AmiGo, a new checking product available exclusively in this market, so we could track its success. Using digital targeting, retargeting and social media, we saturated the market for far less than the cost to operate a new branch.
Free debit card
Free mobile deposits
Unlimited ATMs
No fees
Branchless banking
Zero liability guarantee
The Success
As a result of our comprehensive digital approach, online deposits rose 134% over a two-year period, and 90-day mobile usage grew by 93%. In addition, according to feedback from the bank, digital banking has meaningfully and measurably increased overall customer satisfaction and brand engagement.
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