Turning Market Research into a Strategic Marketing Asset
BACKGROUND
Back in 2008 U.S. Bank wanted to understand the outlook and of small business owners in Minneapolis, the bank’s largest metropolitan market. They conducted a survey and released the findings to PR Newswire where it received no additional media coverage. Media metrics for the survey were not tracked as there was not a PR or marketing plan for the material.
THE CHALLENGE
How can U.S. Bank raise its national profile with small business owners and establish itself as a thought leader in the space?
WHAT WE DID
With a minimal incremental research investment, we expanded the survey to include a national sample across U.S. Bank’s retail footprint, as well as an oversample in nine priority media markets. We also conducted focus groups with small business owners and associations to capture more relevant content, developed pointed national and regional storylines, a press kit, and analytical marketing collateral for bankers to share with clients in their local markets.
WHAT WE ACHIEVED
We turned underutilized and misaligned market research into a major marketing asset for U.S. Bank, garnering tens of millions of media impressions annually and a positive return on investment. Over the years the survey has become a staple across national print, television and radio coverage on small businesses and the economy, including The Wall Street Journal, CNBC, Fox Business, Bloomberg, Time Magazine and National Public Radio. The survey has also been referenced by several influential industry observers and decision-makers on Capitol Hill.
Additionally, the survey raised U.S. Bank’s regional profile as a thought leader in small business banking with coverage in numerous local newspapers and business journals, including Minneapolis Star Tribune, Milwaukee Journal Sentinel, Denver Business Journal, St. Louis Business Journal, Sacramento Business Journal, Cincinnati Business Courier, South Florida Sun-Sentinel and the San Jose Mercury News.