Do We Need a Rebrand?
Consumer research on brand recognition
Opportunity
With a solid consumer base in south east Houston, a regional and corporate associated $2bn Credit Union found itself with stagnant growth in account openings and its loan portfolio in its stronghold market with almost zero growth beyond the south east Houston region.
Hypothesis
A name which highly represented the corporate association of the Credit Union, as well as the phrase ‘Credit Union’ was a barrier to entry in new and unexplored Houston Markets.
Solution
Run a detailed brand awareness study across Houston to understand the brand strength and position of the credit union, in order to validate whether a rebrand was required or not.
Wins
Gained board level buy in with research led approach
Conducted a six figure rebrand for the Credit Union
Instilled data driven marketing research function
Role
Chief Brand & Innovation Officer, JSC Federal Credit Union
Approach
Launch a Houston wide brand study with both quant and qual research. Leveraging the Qualtrics Experience Platform I worked to design a survey which would address both aided and unaided awareness of the credit union. In addition, I designed lines of questioning which would also gauge the reaction and affinity of the Houston market to joining a Credit Union.
As a part of the survey design, I wanted to make sure that we received a full ethnographic representative picture of the Houston market, including accurate response representation socio-economically and demographically within each Houston Zip Code.
Outcomes
Hypothesis Proved:
Through the research, we found that less than 1% of the Houston market, unaided, were aware of the credit union and less than 5% of the market would select the credit union as a top choice when aided.
Budget Approved:
Presenting the research at board level, I was able to secure 7 figure funding to work with some of the best advertising minds to rebrand the credit union for a broader market appeal.