When a credit union needed to evolve its brand strategy to drive growth and market share
Magid’s research objective » Provide rich
and robust local consumer insights to drive MIDFLORIDA Credit Union’s growth and market share through strategic marketing
and brand-building efforts.
Improve brand awareness by increasing the reach and frequency
of marketing efforts
Building on the success of four previous Magid Advertising Performance (MAP) projects over the past seven years, MIDFLORIDA asked Magid to conduct a qualitative brand study in three key markets. Online interviews were conducted with 1,200 adults (25-64 years old) living in the metros of: Tampa Bay (400), Orlando (400) and West Palm Beach (400).
Based on the consumer insights collected, the Magid team made recommendations to help improve MIDFLORIDA’s brand awareness and increase the reach and frequency of their marketing efforts. Magid’s recommendations were to focus on:
» Establishing brand perception
» Defining value propositions
» Investing in mobile app accessibility
» Designing a marketing strategy
» Executing media buys based on consumers’ media consumption
Kevin Jones, CEO of MIDFLORIDA, said Magid’s work “is the single most transformative factor in helping us grow from $1.6B to $5.6B in assets over the past nine years.” To continue to measure the efficacy of these efforts, Magid has also proposed a new brand tracking study looking at the impact of this work on MIDFLORIDA’s business.