Overview:

Introduction

This case study on Umpqua forms part of Datamonitor's Financial Services Consumer Insights series, in which best practice in specific areas of FS are highlighted.

Scope

*This case study analyses the key successful elements in Umpqua Bank's marketing and communication strategy
*The case study examines how the brand has developed to its current status and why it appeals to consumers so strongly
*Datamonitor's Financial Services Megatrend Framework is used to analyse the effectiveness of customer targeting strategies

Highlights

In the early 90's community banks were suffering. However, when Ray Davies adopted Umpqua Bank in1994 with grand ideas about growth and dreams of a 'bigger bank', he had the foresight however never to let success come at the expense of the 'community' factor, that personal feel which consumers in current climes value more than ever.

Reasons to Purchase

*Gain insight into the methods used by important industry players to give them a competitive edge
*Identify the implications of changing consumer behaviours
*Capitalize on the knowledge of experienced companies when entering a new niche or market

DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
Introduction 2
Umpqua Bank has established itself as an innovator among its competitors in terms of marketing and branding 4
Umpqua's 'store concept' differentiated the bank as early as 1994 5
Continued technological innovation ensures Umpqua maintains it's position the cutting edge 8
The Umpqua company culture is a key driver of the bank's success 9
Authenticity and Connectivity are Umpqua's secrets to attracting consumers 10
Authenticity draws in customers on a number of levels 10
Connectivity is key to Umpqua's popularity 11
Umpqua's employees are literally Connected to the community 12
Umpqua's customer-centric approach is transferable and relevant for all 13
APPENDIX 15
Additional Data 15
Definitions 15
The Datamonitor Financial Services Consumer Insight Megatrend Framework 15
Authenticity 15
Comfort 15
Connectivity 15
Convenience 15
Individualism 15
Wellbeing 15
Demographic Complexity 15
Financial Intelligence Complexity 16
Lifestage Complexity 16
Wealth Complexity 16
Methodology 16
Ask the analyst 17
Datamonitor consulting 17
Disclaimer 17

List of Figures
Figure 1: Umpqua has significant market share in Portland, Oregon 3
Figure 2: Despite the downturn Umpqua has maintained growth 4
Figure 3: Umpqua bank has a strong brand 5
Figure 4: Umpqua Bank 'stores' are more like neighborhood hubs 7
Figure 5: Umpqua Bank's Innovation Lab helps the bank stay one step ahead 9
Figure 6: Umpqua Bank's use of social media sites like Twitter promote honesty and transparency 11
Figure 7: Umpqua Bank connection to the community is well integrated to into the company ethos 13