Cincinnati’s Fifth Third Bancorp launched a new campaign on May 3rd (i.e. 5/3) to play on the improper fraction in its name. As a fraction, 5/3 translates to more than 100 percent – 166.7 percent – and expresses the brand’s pledge to go the extra mile to help customers reach their financial goals.
“Throughout the campaign, we will share solutions and real stories that are meaningful to customers and, when added together, they will show that we are helping to build a better kind of bank,” stated Matt Jauchius, CMO of Fifth Third Bancorp. “We are showcasing compelling messages that link to Fifth Third’s vision to be the One Bank people most value and trust.”
Creative agency Pereira & O’Dell created the campaign based on research that included conversations with bank executives, employees, customers and other stakeholders.
“We started with a powerful idea that was staring at us directly in the face” said Pereira & O’Dell’s Co-Executive Creative Director, Robert Lambrechts. “Fifth Third is a unique name, but more importantly the bank has a legitimate reputation for working hard to go the extra mile for their clients. Subconsciously, I believe they always held themselves to the 166.7% standard; we simply helped them articulate it in an exciting, memorable way for consumers.”
Fifth Third Bank was established in 1858. Headquartered in Cincinnati, Ohio, Fifth Third Bancorp is a diversified financial services company with $140 billion in assets, 1,155 full-service Banking Centers and 2,471 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina.
Among the largest money managers in the Midwest, Fifth Third handles $33 billion for individuals, corporations and not-for-profit organizations through its Trust, Brokerage and Insurance businesses. It gives back every 5/3 as its annual day of community service, #53Day, with employees volunteering across its communities. (Its unique URL? 53.com.)
— SecondHelpings (@SecondHelpings) May 3, 2017
Dennis Giglio, SVP brand and advertising at Fifth Third said, “Our advertising will feature proof points that demonstrate investments made to make banking 166.7 percent simpler, safer, more convenient and more valuable for our customers. The platform really resonated with groups both inside and outside the Bank as ownable, unique and relevant.”
Fifth Third’s new tagline, “This is banking. A Fifth Third better.” replaces the previous one, “Working hard to be the only bank you’ll ever need.” in use for two decades.
CEO Greg Carmichael added, “’Working hard’ isn’t enough.”
The new campaign highlights Fifth Third’s network of 45,000 fee-free ATMs across the U.S., and the bank’s commitment of tight security against identity theft and online fraud. Taking it a step further, Fifth Third will celebrate babies born on May 3 in the Greater Cincinnati area by gifting them $1,053. Parents will be encouraged to use the gift to start their child’s first savings account or a 529 college savings plan account.
The origin of the bank’s name comes from the 1908 merger of the Third National and the Fifth National banks.
“You know the saying: ‘He gave 110 percent?’ We give 167 percent,” said CMO Matt Jauchius.
— Fifth Third Bank (@FifthThird) May 3, 2017
Cincinnati.com sums it up: “Marketing officials at the bank admit it’s a risky move to spring a math calculation into its slogan. But the bank officials believe they can get extra mileage out of the bank’s quirky name and engage customers by giving the name a new brand promise.”
It’s a mathematical equation that’s likely to pay off.