A Kentucky bank builds on its philanthropic connection.
Position | A Brand Discovery - Ohio Valley Financial Group |
Challenge: The bank wanted to forge a new brand identity. Ohio Valley Financial Group's former president and one of the county's most notable philanthropists, the late Raymond B. Preston, built the bank's founding principles on stewardship. Even today, more than 30 percent of the bank's profits are invested right back into the community through the Raymond B. Preston Family Foundation. Even though none of the bank's competitors can boast such consistent, substantial community investment, the bank--because of Preston's sincere humility--had never made much mention of the bank's philanthropic tie.
Solution: From extensive focus group studies, the bank was surprised to discover that people would rather hear more about the Preston Foundation and its relationship to the bank rather than less. The audiences felt it to be a differential advantage of the bank, and one worth promoting.
"So much good comes out of it," one focus group participant noted. "It's their asset. If you're really keen on personal and hometown, then the Preston story offers that." Still another commented, "Has anyone here ever worked for a nonprofit that hasn't received something from the Preston Foundation?"
Their brand discovery revealed it was time to leverage the existing, historical brand equity of Raymond B. Preston's bank, and continue his legacy of giving. Ohio Valley Financial Group's brand is generous, proactive and positive...
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