Inside BNY Mellon’s marketing strategy
- Considering it's one of the oldest banks, BNY Mellon has been at the forefront of innovation, whether its in emerging technologies or in its marketing
- BNY Mellon is using the popularity that Broadway has brought its founder, Alexander Hamilton, to share the story and history of its brand
There’s an intriguing innovation race taking place among legacy banks in which everyone wants to be second to market. Except for BNY Mellon. The 233-year-old bank prides itself on its history of firsts. It provided the first loan to the U.S. government and was the first stock to be traded on the New York Stock Exchange. Later, it became the first bank to create a mobile trading app for its clients. Today, it has nine innovation centers around the world learning about new technologies to be able to educate and inform its clients, which make up 78 percent of Fortune 500 companies, on how to use them to keep up with changing business models. This “pioneering spirit,” as Aniko DeLaney, the bank’s global corporate marketing head calls it, is deeply integrated into the bank’s culture as part of the legacy of Alexander Hamilton, founding father of the United States, the U.S. financial system and of BNY Mellon itself. It's DeLaney's job to carry the legacy, but with a view on innovation. To do so, she and her team feature a Test Your Knowledge of Our Founder quiz on the website, as well as short videos (less than two minutes) on BNY Mellon Then and Now, Hamilton's Impact and The Buck Started Here. The bank also sponsored the now Peabody Award-nominated PBS documentary, Hamilton’s America. It also publishes an annual People Report, which highlights how the firm’s investments in people have been the key to success and showcases the work of more than 50,000. It's advertised in seven parts on the bank's YouTube channel.
What are benefits of working for a company doing business in 100 markets across 35 countries? https://t.co/2up4IgLYeY #InvestedInOurPeople pic.twitter.com/NZdiNmEbLa — BNY Mellon (@BNYMellon) April 25, 2017Suddenly it seems like banks are tech companies that employ technologists. Is there a language barrier with the “traditional” bankers and clients? Our business models are evolving. So the way we interact with clients, our marketing, the language is evolving. We are definitely focused on the evolution of our technology in our innovation, so we’re using robotics to really enhance some of our operational processes. But this marrying the best of man and machine -- just trying to explain its capabilities requires some new language and new examples. And I think that also gets to the stories.