Paragon Bank, with $1 billion in assets and locations in Charlotte and Raleigh, is dedicated to providing an extraordinary private banking experience to businesses, executives and entrepreneurs. Paragon’s commitment to an extraordinary client experience is built on its philosophy that clients deserve well prepared bankers who are present and fully available, and proactive to help clients achieve their goals.
PHASE 1 DISCOVERY
MMI realized that given the brand’s deep roots in the Raleigh and Charlotte, Paragon Bank had a unique opportunity to increase industry leadership in the midst of a market where many banks were scaling back branching strategies, increasing fees and reducing staff. To advance its growth strategy, Paragon Bank desired to increase awareness beyond its commercial banking offerings to include private banking services. Its marketing plans included revisions to its brand identity, introducing a new logo mark and expanding its value proposition to appeal to the private banking needs of C-suite executives. An effective brand roll-out campaign would open additional avenues for existing business, grow total deposits and loans, maximize value-add for shareholders, and increase operational efficiency and funding while maintaining the bank’s reputation for financial soundness.
PHASE 2 STRATEGY & PLANNING
To drive deeper customer engagement with the brand, MMI collaborated with the bank’s chief marketing officer to assess its brand traits and create a new promise that would resonate with its customers and identify effective marketing channels. The approved strategy included a tightly integrated multi-channel marketing and brand advocacy communications campaign that would be driven online, through traditional channels and include a thought leadership initiative to position select bank executives as expert resources to address issues of interest to targeted stakeholders.
PHASE 3 PRODUCTION & DELIVERY
Working in partnership with Paragon Bank’s marketing team, MMI conceived, scripted and produced an online video series of customer testimonials to launch the new logo mark and brand promise – to be “Prepared, Present and Proactive.” MMI also supported the brand rollout and thought leadership initiatives through traditional media campaigns in Charlotte and Raleigh.
By focusing on Paragon Bank’s unique points of distinction, it has advanced customer awareness of the bank’s dedication to efficiency and delivery of timely solutions not found in large, traditional bank corporations. Paragon Bank’s success in Raleigh and Charlotte markets have led to its opening of a new location in Cary, North Carolina, as well as growth of its private banking services.