Case Study: Union Bank
Challenge: Union Bank is a community bank that had recently merged with Bannister Bank. The main challenges faced by this experienced team was leveraging the assets of this expanded organization while ensuring a continued strong presence in the marketplace and not confusing customers over the changes. Union Bank sought assistance in strategic planning and marketing support.
Results: Union Bank asked Reynolds Consulting, LLC to conduct strategic planning work with the executive team on an annual basis. The result of this effort was to develop action plans that gave increased visibility to the high priority initiatives of the bank and establish accountability through aligned measures for each initiative. Part of the process included engaging the Board of Directors in the process to ensure their input was obtained and their feedback integrated into the plan.
In addition, Reynolds Consulting, LLC served as the marketing director of the bank, writing annual marketing plans and providing oversight on their implementation. As a result, the bank had its first integrated marketing plan, with outcomes of marketing efforts tracked and measured. During this time, the marketing team developed a brand campaign, launched new products, supported the opening of new branches, and conducted research to better understand Union Bank’s market opportunities.
“Margaret did an excellent job of getting our Board of Directors involved in the strategic planning process. The resulting comprehensive strategic plan incorporated the expertise of our board, and helped to strengthen the executive team’s focus, as well. Additionally, Margaret’s considerable marketing and brand positioning acumen have been instrumental in guiding us to a concrete understanding of our position in the marketplace, where we want to go, and how to get there. Margaret has been a true partner who worked alongside our management team as an integral member of the team on a wide range of issues that are important to us. Reynolds Consulting, LLC has been a great resource for us in an increasingly difficult market.” — Jeffrey J. Jernigan | President and CEO | Union Bank