Doral Bank | SolPersona

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Posts Tagged ‘Doral Bank’

Successful Branding Part 3: Doral Bank’s new campaign was a success!

October 24th, 2009 1 Comment

Doral Bank of Puerto Rico

In a previous blog, I had a great chance to interview Lucienne Gigante and Karla Gual of Doral Bank of Puerto Rico about their marketing campaign to brand Doral Bank as a bank for the community. So how did Doral do? absolute positive results. I would like to thank Termeh Mazhari of AMP3 Public Relations in providing me with great information through an executive summary that I posted below.

The following is based on a tracking study performed by Doral, Lopito, Ileana, Howie and Ipsos Hispania aimed at measuring Doral’s brand performance over time. The study also measured evolving market dynamics and consumer preferences in Puerto Rico’s banking industry.

The field work took place in January 2008, a month before Doral’s relaunch, and again between September and November 2008. In each wave, the statistically representative samples consisted of 500 to 600 consumers between the ages of 18 and 64, of both genders, islandwide, of socioeconomic levels A, B, C, or D, and with an existing bank relationship.

Findings

Doral improved its overall brand image significantly since its relaunch in January 2008.

While all banks improved their brand health (except Santander which lost significant equity value) Doral had the most significant increase (+20% in its overall brand health score), especially among ad recallers.

The number of consumers who consider becoming a Doral client increased by 7% while all other banks lost potential clients.

Doral’s “true involvement with the customer and the community” positioning touches the most relevant brand attributes and consumer drivers.

Doral improved mainly in the two areas “community-commitment” and “involvement with the individual” client,

The Doral brand is now perceived as a more leading, modern, charismatic, innovative, strong, supportive and energetic brand.

Increases in specific brand attribute

It is a bank committed with the Puerto Rican people: +24%

It is a bank that helps me accelerate my life: +28%

Employees are attentive and courteous: +32%

It is an institution that actively contributes to the community and its needs: +37%

Has appealing and attentive branches: +48%

Its advertising is appealing to me: +30%

It is an institution that supports social interest and help programs: +64%

The bank makes good recommendations to me and my family: +40%

It is an institution concerned with the community’s education, communication and culture: +91%

Has innovative products and services: +39%

Has products that provide additional benefits: +33%

Not only did Doral Bank received positive results for their marketing efforts, they also received several awards because they successfully reached their customers by engaging them and becoming involved in the community of Puerto Rico. Something other banks should be doing right now. Great job Doral Bank!

Doral’s Awards

Bank of the Year: UK-based ACQ Finance Magazine recently honored Doral Financial Corporation with a Country Award for Achievement and named the financial institution its 2009 Bank of the Year. The winner was selected through an independent poll of ACQ readers, contributors, and industry experts. ACQ boasts a readership of over 50,000 key decision makers from across Europe, the U.K, and the U.S.

Three Hermes Creative Awards & Two Honorable Mentions: Over 3,700 entries were received from around the globe for what is considered one of the premier Marketing and Communications showcases.

Best Public Relations Campaign and Best Community Public Relations campaign: Doral’s community programs Ruta Pink won two Gold Awards for Best Public Relations Campaign and Best Community Public Relations campaign

Best Public Relations Campaign category: Doral’s eres parte d (“you’re a part of Doral”) campaign took Silver in the Best Public Relations Campaign category.

Two Honorable Mentions: domingos dMuseo, received two Honorable Mentions in both of the aforementioned categories. Puerto Rico-based Lopito, Ileana & Howie, Inc. was the creative agency behind the three award-winning concepts.

SABRE Awards (Superior Achievement in Branding & Reputation)

Ruta Pink and the eres parte d campaign were finalists for a Gold and Silver SABRE (Superior Achievement in Branding & Reputation) Award, respectively.

Ruta Pink was up for Gold in the Latin American Category

Re-branding campaign was named a finalist for Silver in the Financial Services Category. No banking institution from Puerto Rico had ever reached the final stage of the SABREs, an honored U.S.-based competition administered by The Holmes Group.

American Business Award

Ruta Pink and domingos d-museo were recently named finalists for a 2009 American Business Award in the categories of Social Responsibility Program of the Year and Public Relations Campaign for a Non-Profit Purpose, respectively.

Successful Branding Part 1: Doral Bank of Puerto Rico engages its customers

Successful Branding Part 2: Doral Bank of Puerto Rico emerges as the community’s bank

October 8th, 2009 4 Comments

In my previous post, I had a chance to blog about Doral Bank’s efforts to give back to it’s community in Puerto Rico by offering free mammograms for those who can’t afford it through Ruta Pink, inviting the community to socialize and engage in both the arts and cultural activities at the Puerto Rico Museum of Art through their Domingos dMuseo program, and encouraging the community to understand the importance of the environment through urban reforestation at their D-Parques Initiative. Doral Bank made great efforts to gain the community’s trust and in doing so managed to build a more trusting relationship with their customers as well. Afterwards, I had a great opportunity to do a phone interview with Doral Bank’s Vice President of Public Relations, Lucienne Gigante and Vice President of Brand Development and Marketing, Karla Gual to tell me more of their successful programs to identify Doral Bank not only as a financial institution but also a part of the Puerto Rican community.

In 2006, Doral Bank started out as a mortgage institution on the brink of bankruptcy. Under its new president and CEO, Glen Wakemen, Doral began to transform itself from a mortgage-based company to a full-service bank. “His vision was to create a new Doral” said Lucienne, “where the community comes first and under his leadership his vision became a true success.” With the banks here in the United States becoming more and more distrustful, perhaps they should study Doral Bank’s marketing and branding campaigns and see that to rebuild trust with the customers, you have to truly engage them and build a relationship, and what better way then to spend time within the community. “At Doral we practice what we preach. The energy and passion is there and we really go to the extra mile to contribute to the success of the communities we serve,” said Karla in an interview with Caribbean Business.

Lucienne Gigante took part in these events and she saw a definite and positive feedback. One event is the Domingos dMuseo last year which drew in a crowd of 500 people and over 60 artists. “To see the difference, many families had a great time,” said Lucienne. “They actually thanked us for organizing this event. We wanted to provide free cultural activities and have our community be involved in a whole new world to explore art education, art to our children and just have a good time.”

Being a graduate student whose focused on marketing, particularly towards the Hispanic market, I wanted to get a better idea of how a professional marketer begins a campaign and successfully communicates it to their selected target market so I asked Lucienne what was behind the success of the Ruta Pink campaign. “Having an advertising background is absolutely useful because you are trying to send a loud and clear message to your target market,” she said. “We understood that women play an important role within the family nucleus and they put their family above themselves. This was evaluated through psychographic research. With Ruta Pink, we made them distinct and encouraged them to take care of themselves.” Through a balance of traditional marketing, online marketing with the development of a very detailed and attractive website and thorough research, Ruta Pink and Doral successfully managed to promote breast cancer awareness and educate women and men of the importance of early detection just by engaging the community.

How successful was this new brand marketing? On my next post, I’ll provide a more detailed analysis in a executive summary provided by Termeh Mazhari of AMP3 Public Relations. Here is a more concise branding campaign established by Doral Bank on Brandweek.

Lucienne Gigante, VP of Public Relations

Karla Gual, VP of Brand Development and Marketing

Successful Branding Part 1: Doral Bank of Puerto Rico engages its customers

Successful Branding Part 3: Doral Bank’s new campaign was a success!

Posted in Hispanic Marketing

Tags: Brand, brand management, Brand Week, Business, Caribbean Business, community engagement, Domingos dMuseo, Doral Bank, Doral Bank of Puerto Rico, Doral Bank's promotions, Doral Financial Corporation, event organization, Glen Wakeman, Karla Gual, Lucienne Gigante, new branding, Puerto Rico, Ruta Pink, Target market

Successful Branding Part 1: Doral Bank of Puerto Rico engages its customers

August 22nd, 2009 10 Comments

In today’s marketing strategies and brand identity, it is very vital to not just promote yourself only hoping to reach a wide audience; you have to be proactive and engage your customer and build a trusting relationship with them and to remind them that they are important and that you’re there to listen to their concerns because if it is not for your customers your business would not be successful.

I would like to post that Doral Bank of Puerto Rico is an excellent example of not only engaging their customer base, but they went a step further by giving back to the Puerto Rican community with several non-profit campaigns that demonstrates their professional commitment to the people Puerto Rico. I truly applaud their initiative and I hope to post an interview with the Vice President of Public Relations of Doral Bank, Lucienne Gigante, real soon.These campaigns were brought to my attention this week and I was very appreciative in receiving them. I would like to thank Termeh Mazhari of AMP3 Public Relations in taking the time to send me this great piece so I can exemplify a very successful and positive business approach:

Last year, Doral Bank launched its new corporate image and announced its commitment to giving back to the community. First, it collaborated with Susan G. Komen for the Cure and launched the mobile pink mammogram clinic Ruta Pink, a breast cancer prevention initiative that offers women and men free mammograms, biopsies and referrals, as well as general informational seminars. Ruta Pink won two Gold Hermes Creative Awards in the categories of Best Public Relations Campaign and Best Community Public Relations Campaign. Ruta Pink was also named a finalist for a prestigious Gold SABRE (Superior Achievement in Branding and Reputation) Award. It was the first time that a financial institution from Puerto Rico was named as a finalist.

Lucienne Gigante, Vice President of Public Relations of Doral Bank
Ruta Pink Mobile Clinic
Doral Bank also offered free art to Puerto Ricans, with their Domingos dMuseo program (Sundays at the Museum). Created alongside the Puerto Rico Museum of Art, “domingos d-museo” offers the general public free access to the Museum and a wide range of cultural activities the last Sunday of each month from July through October. dMuseo received two honorable mentions at the Hermes Creative Awards. Both programs were recently named finalists for a 2009 American Business Award in the categories of Social Responsibility Program of the Year and Public Relations Campaign for a Non-Profit Purpose, respectively.
dMuseo Art program
Today, Doral is gearing up to present its D-Parques initiative, the Bank’s green program that promotes environmental awareness, conservation, and urban reforestation.
Lucienne Gigante, Vice President of Public Relations. Glen R. Wakemen, President and CEO. Annelise Figueroa, Vice President of Facilities of Doral Financial Corporation.

Successful Branding Part 2: Doral Bank of Puerto Rico emerges as the community’s bank
Successful Branding Part 3: Doral Bank’s new campaign was a success!

Posted in Hispanic Marketing

Tags: Annelise Figueroa, brand management, Caribbean, community engagement, dMuseo Art program, Doral Bank, Doral Bank of Puerto Rico, Doral Bank's promotions, Doral Financial Corporation, Glen R. Wakemen, Lucienne Gigante, new branding, Puerto Rican Museum of Art, Puerto Rico, Ruta Pink

A study of marketing to Hispanics and online media

Posts Tagged ‘Doral Bank’