StonehamBank

Popping Up to Support Local Businesses

Prior to the COVID-19 crisis, StonehamBank had been hosting a series of pop-up events in the towns neighboring their two branch locations, Stoneham and Billerica, MA for roughly a year. These events took place at local farms, food festivals, sporting events, breweries and more. The goal for this initiative was to drive new checking accounts and increase brand awareness throughout their surrounding communities while also building relationships with current and potential customers. Although the bank was not able to directly attribute their account growth and engagement to this initiative, there was significant evidence that the rise in brand awareness, local market visibility and employee/visitor engagement contributed tremendously to the boom in checking account openings.

Once stay-at-home orders went into effect, they had to put their physical pop-ups on hold. Since they didn’t want to lose the momentum they’d gained, they switched the focus from driving checking accounts to driving support for local businesses and pivoted to "virtual pop-ups." Their first pop-up gave the spotlight to a small, local restaurant that had remained open for takeout throughout the quarantine phase to try to support their employees.

Services used on this project

  • Media
  • Social Media
  • Design
  • Communications

Project Goals

The Ask: Help soften the blow of the COVID-19 pandemic on small businesses in the bank’s branch towns and surrounding communities.

The Answer: Launch two campaigns designed to support small businesses — Virtual Pop-Ups featuring a Small Business Spotlight.

Process

The premise for the small business pop-ups was simple: On a specific day, during set hours, anyone who ordered takeout from the restaurant would receive $5 off orders of $20 or more. The bank would pay the $5 to the restaurant, up to $500. We promoted the pop-up with banners on the bank’s events page and homepage. We also ran digital ads on Facebook, Instagram and Google.
In addition, the promotion generated 134,244 impressions with 472 total clicks with a click-through-rate (CTR) of 1.25% on Facebook, Instagram and Google combined.

This use of spend serves as the backbone of the campaign's success. With positive spend down the line, we’re confident we can replicate the success of the virtual pop-up. In fact, based on the accomplishments of the first virtual pop-up, the bank hosted a second event over Father's Day weekend at a locally owned car wash. Now they’re busy planning more events for the future.
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