Astoria Bank is the largest independent community bank in the metro New York area, with over 85 branches located primarily in Brooklyn, Queens, Nassau and Suffolk Counties. However in a crowded New York media market dominated by the megabanks, Astoria’s media share accounts for less than 3% of total advertising spent in the metropolitan New York banking and financial categories. As their media buying agency, our challenge was to garner Astoria Bank a greater share of voice with far fewer media dollars.
We performed an extensive audit of all high-visibility media venues and events that Astoria could “own” with the goal of turning a smaller budget into a bank perceived as a big market player. Through our experienced and highly skilled media buyers and strong vendor relationships, we negotiated with Titan Outdoor to secure a month-long station domination effort in the Amtrak portion of Penn Plaza at 40% off the regular street price for this media. We also partnered with WNBC-TV to make Astoria Bank the television sponsor of the New York affiliate’s biggest holiday events, including The Macy’s Day Parade, The Rockefeller Center Tree Lighting and the live broadcast performance of “The Wiz.” And through a highly visible sponsorship, we positioned Astoria as the bank that “brought the fireworks back” to Jones Beach for the 4th of July after the program was cancelled due to lack of funds.
Our visibility campaign gained 18,000,000 total impressions at Penn Station and 300,000 ecstatic Long Islanders cheering the return of a Jones Beach tradition, thanks to Astoria. In-field research conducted after the campaign revealed that 15% more customers said that Astoria was on the short list of banks they would consider when opening a bank account. This figure is even more impressive when one considers how dramatically Astoria was outspent.
• Media planning & buying
• Promotions marketing
• Out-of-home & digital production
• Measurement & analytics audit