MyState Bank’s play for heart and heartland

MyState Bank is targeting national customers with campaign created in lockdown aimed at showing the bank’s empathic side

MyState Bank’s latest campaign, created during the height of the COVID-19 lockdown, turns on the themes of balance and simplifying life, and was produced with virtual casting sessions, talent from the same family and a strict enforcement of a two-metre distancing rule on set.

MyState GM digital and marketing, Heather McGovern, told CMO helping customers simplify their lives and achieve financial balance strikes at the heart of the bank’s values. And customer experience is about smart, simple solutions.

“It sounds really basic, but ‘helping our customers’ is at the heart of our organisation - it’s been known to be forgotten in some banks - and we have the NPS scores to back it up,” she said.

The ‘Unbalanced World’ campaign is the first step in bringing MyState Bank’s new personalised banking proposition to market. “It serves as an introduction to who MyState Bank is, and aims to shift awareness and subsequent consideration in its prospects,” McGovern said.

In creating this campaign, the bank wanted to acknowledge the environment everyone is facing at the moment with the coronavirus, but aimed to do it in a way that's authentic to the brand. “And also had longevity – that the premise would still be relevant this time next year and beyond,” she continued.

The campaign timing has been critical, McGovern explained, and is the culmination of years of effort in building a personalised everyday banking proposition, designed from the customer out.

“A proposition powered by artificial intelligence [AI] technology, and is now being delivered via our app in a seamless fashion,” she said. 

This work MyState Bank is undertaking has a number of other pieces which are starting to come together as the bank starts to leverage investments in marketing capability have made over the past 12 months. “It is really satisfying to see all the components start to come to life,” McGovern said.

The bank’s overarching strategy has two planks: Keeping the heartland and expanding into new markets. McGovern told CMO, as a challenger brand, MyState Bank needs to position itself as the ‘real and human’ alternative to the established ‘faceless’ big banks.

“This extends not just from our tone of voice across all customer touchpoints, but is increasingly being built into the services we deliver,” she said. 

“Our point of entry is via everyday banking – and creating a differentiated proposition in an incredibly crowded category. Doing this means connecting technology with our products and building a marketing platform that both builds our brand and drives customer acquisition. As a small bank with a tight budget, it has meant we have needed to tighten our focus, and extract maximum value across the entire funnel.”

Looking ahead, marketing will be a critical element to MyState’s growth plans. “As a digital bank with a supportive board and executive, we have demonstrated marketing is the engine for our future growth plans,” explained McGovern.

“With big ambitions, the organisation is looking towards marketing to ensure we can deliver on our customer growth agenda.”

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page, or join us on Facebook: https://www.facebook.com/CMOAustralia


Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Launch marketing council Episode 5: Retailer and supplier

In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.

More Videos

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Check out tiny twig for comfy and soft organic baby clothes.

Morgan mendoza

Binge and The Iconic launch Inactivewear clothing line

Read more

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training

Infosectrain01

3 ways Booking.com is improving its B2B marketing game

Read more

Time is of the essence, especially for customer service teams. With chatbots, you can interact and assist customers at a larger scale, al...

Jai

Triple-digit customer database growth, personalised engagement become reality for Stone & Wood

Read more

Blog Posts

Getting privacy right in a first-party data world

With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.

Furqan Wasif

Head of biddable media, Tug

​Beyond greenwashing: Why brands need to get their house in order first

Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.

Craig Flanders

CEO, Spinach

​The value of collaboration: how to keep it together

Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.

Rich Curtis

CEO, FutureBrand A/NZ

Sign in