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GROWING BANK ASSETS |
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| Solar Velocity grows Farmers & Merchant Bank through our marketing strategy.
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Client Name: Farmers & Merchant Bank
Solution: Marketing, Strategy & Planning
Launch: OCT 2005 |
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Company Overview
Farmers & Merchant Bank is a community bank in Georgia. At initial contact with Solar Velocity, the bank's rate of return on assets was 7-8% a year. While an acceptable rate of return, the Board of Directors felt a 15% growth in assets over 18 months was a realistic goal. To do this, the bank needed an experienced marketing director. The company's chief executive officer sought Solar Velocity to fill this position and develop a marketing plan to accomplish the specified goal.
Challenges
- Establish a sustainable marketing plan
- Achieve a 15% growth in assets over an 18-month period of time
Solutions
- Solar Velocity acted as contracted marketing director for Farmers & Merchant Bank
- Developed a comprehensive marketing plan, based on research, strategy, budgeting, and a detailed action plan for implementation
- Directed and implemented the overall effort
Results
- Solar Velocity achieved outstanding results, exceeding expectations of the Board of Directors
- At the end of the next 18-month period, the assets of Farmers & Merchant Bank had increased by 36%!
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