Riggs National Bank
When Siddall acquired the Riggs business, it was the largest bank in Washington, D.C. However, it was number six in terms of consumer awareness. The agency’s challenge was to raise awareness to a level commensurate with its size and to use this increased recognition as a springboard to market specific products and services.
Siddall developed a provocative umbrella tagline that took advantage of Riggs’ rich 150-year heritage as Washington’s premier financial institution: "Riggs. The Most Important Bank in The Most Important City in The World." Newspaper, radio and television ads were developed using the bank’s history to build image while also promoting its money market funds and ATMs in order to build core deposits.
The results were staggering. In the two years following the launch of this award-winning campaign, awareness rose from 18 to 68 percent and, eventually, to first place. The 30-day goal for Riggs’ money market funds was surpassed in less than two weeks. The ATM promotion resulted in daily account openings increasing six-fold, with 3,781 accounts opened in a single two-week period. And by the time we finished our work for Riggs, core deposits grew $1.3 billion.
As a sidebar, the musical theme created for all broadcast media became a hit. Radio stations were actually inundated with requests to play the piece and asked where they could purchase it. Siddall acted quickly and pressed 20,000 copies of the "Riggs Theme" for sale in the branches. Six weeks later it had sold out.