CITIBANK – RUSSIAN PROMOTION CAMPAIGN
Citibank has high brand recognition among Russians in the US. To further enhance the premium Citibank brand image, differentiate among other US commercial banks & acquire new conversions, Citibank wanted to run a premium based promotion campaign targeting Russian immigrants in the US.
• Enhance Brand preference & encourage brand loyalty
• Acquire incremental deposits and new checking households
TARGET AUDIENCE & INSIGHT
• Mass market and mass affluent in-language preferred Russians living in the US
• NYC area has the highest concentration of Russian immigrants
STRATEGY & SOLUTION
By offering culturally relevant high value premiums (Russian Nesting Dolls, Crystal Swan Necklace, “Lomonosov” Cobalt Tea Sets) to trigger interest & acquire new customers, Citibank was successful in elevating brand image & immediately increasing deposits.
• $18 Million in new deposits
• 500 new customers as a result of this promotion, of which 50% were new to banking