dime community engagment campaign

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Community Engagement Campaign

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Brand Being: - Background on Brand Being development - Research overview - Brand Breakdown & Brand Being

Campaign Development: - Creative platform - How creative will be deployed through PFC - Catalyst branch recommendation - Community engagement & outreach program - Brand development next steps

agenda

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Regardless of products and services that are marketed, Dime should maintain the same voice and message. Combining research to date and Dime input and direction, Concept Farm has developed a Brand Breakdown and Brand Being that reflects both personal checking and micro business customers in order to develop an integrating advertising campaign.

where we were

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process

customer

quest brand beinglandscape

brand

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sources

The research and inputs that have fueled Concept Farm’s insights and recommendations to date include: Dime briefings, research reports, and background materials:

• Dime full network and branch segmentation studies and market opportunity analysis • A-DTA Demographic census tract data • CPG reports • Cornerstone reports • Brand awareness study • Banking strategy and other articles

Desk Research: • Retail personal checking customer desk research • Ongoing industry trend monitoring (American Banker, industry news, thought-leader interviews) • Nielsen census data and P$YCLE segments • Forrester reports

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methodology

Branch Interviews:

Qualitative interviews were conducted with retail and micro business Dime and non-Dime customers in order to understand consumers’ motivation in the decision and selection process of choosing a bank, their wants and needs in a bank, their perception of Dime, and their opinions on connecting with their community.

A total of 128 interviews were conducted across all 25 Dime branches from 5/1-5/28 with Dime customers and prospects (within a ~5-block radius of each branch):

• 21 Dime retail customers • 52 prospect retail customers • 12 Dime micro business customers • 43 prospect micro business customers • 30-50 photos taken at each location and surrounding neighborhood

Across personal checking and micro business interviews Concept Farm aimed to capture a a wide range of ages, ethnicities, and business types.

Dime branch manager sprint & insight review (IN APPENDIX) • In order to verify the findings in the field, Concept Farm discussed insights from the 25 branch visit interviews with 5

of the top 6 best-performing branch managers on 6/8

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excerpt of branch photos from visits

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highlights

Accompanying preliminary research report:

• The top-line findings and insights are presented in this Brand Being document. While we would like to consider the accompanying research report a work in progress, we have featured the highest-level findings and insights from the 25 branch visits and additional research that support and expands on our findings.

• This report covers: • Preliminary findings from research to date • 25-branch snapshot reporting and photography

• An in-depth analysis for campaign recommendations to follow

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brand breakdown

customer

Personal and Micro business Checking Customers

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brand breakdown

customer personal

• They are hard workers, creators, and family-focused people who take pride in what they’ve accomplished. They are passionate protectors of their family and lifestyles

• They are heavily engaged in their communities, strong-willed, and especially caring. It is important to them to be connected to their community and it’s local businesses as they grow and change

• They come from all walks of life, ages and cultures, and believe that New York provides the promise of a good life that they are looking for

• Many are immigrants who have formed tight-knit communities that uphold the customs and culture of their heritage

• They work hard for their money, they want their livelihood to feel safe, valued, and protected • Regardless of their income, when they walk in the door they want to feel accepted and

welcomed • They are migrating their banking habits more online, as it is important for them to have access

and be able to manage their money, wherever they are at anytime • They are looking for an evolved type of banking that supports their lifestyle and values and

caters their products and services around them. This means: • Longer hours so they are open after the work day is over • Online access • Trust and a good relationship with their bank staff • Familiarity, respect, and a welcoming environment

• While convenience in banking is a key factor for them, as are product offerings, superior customer service is the most desired trait in banking

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brand breakdown

customer micro

business

• Micro business owners are hard-working individuals who spend long hours and much of their own money to build their businesses and ensure it is successful

• Since they are spending their hard-earned money to finance their businesses, they do not want to get hit with extra fees from their bank

• Many of the neighborhoods in which these micro businesses reside have strong ethnic communities. The businesses are run and owned by people of these ethnicities, and acknowledging their specific needs is essential

• Even though micro businesses tend to have negative feelings towards big banks (Chase, Bank of America, CitiBank), they still choose to bank with them for their product and service offerings, longer hours, and convenience of banking (locations and online). Also, the big banks often waive fees, which keeps them happy and resistant to change.

• However, personal customer service is still the most important factor for them in a bank • Since micro businesses take the time to connect with and understand their customers and

communities, they expect their bank to do the same for them by engaging with them personally and understanding their businesses specific banking needs

• Micro businesses view their bank as an extension of their own business - personal, important, safe and invested in seeing the business succeed

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brand breakdown

customer

SUPPORT MY NEIGHBORHOOD,

SUPPORT MY LIFESTYLE, SUPPORT ME, AND WE CAN DO BUSINESS

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brand breakdown

customer

landscape

quest

brand



the brand being

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brand breakdown

• While there are many factors to consider when choosing a bank, it has become clear that longevity and history matter a great deal

• Traditional banking is moving online, and branches are at risk of becoming unnecessary in their traditional, transactional sense

• Many banks are offering special features that make banking easier; popular features include access to branches on the weekend, mobile and online banking, 24-hour ATMs, and support from banks to help customers make sound financial choices, such as alerts when they have spent too much at clothing stores (emerging trend)

• There are many competitors across the Dime network, but none seem to express a specific and personalized interest in or expression of the communities they serve (Astoria’s recent campaign not withstanding)

• Larger competitors are known for their technology, convenience, and promotional pushes, but very few are known for their customer service

• Smaller competitors are known for their customer service and dedication to the individual, but few are known for their product innovation or forward thinking practices

• Community is very important and people are looking for a way to improve and enrich their own

landscape personal

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brand breakdown

• For micro businesses, advancements in technology are key and online and mobile banking are essential for the way they do business.

• Because of this, micro businesses are choosing larger, commercial banks for the technology and products they provide business accounts

• Some micro businesses are looking for banks that provide mobile banking/phone apps that will notify clients about a fraud, or provide online wire transfers

• Millennial micro business owners especially embrace aspects of tech at a fast rate and are influential in changing how micro businesses are run

• While there are competitors across the Dime network providing different products and technology offerings, few provide the personalized customer service that these micro businesses seek from a traditional bank

• Reports show that on average, over ½ of micro businesses rate personal services from their banks as being more important than financial expertise

• They also rank branch visits more highly than online banking for the personal service they receive there

• Micro businesses have a desire to network with other businesses in the area and become closer to their community; owners were excited and intrigued to learn about a potential communal meeting space at Dime to be utilized for networking and partnership events

• These owners mentioned that other banks are not providing this type of interactive service

landscape micro

business

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brand breakdown

landscape

INTERNET BANKING RULES BUT CUSTOMER SERVICE

AND COMMUNITY INVOLVEMENT

ARE ESSENTIAL

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brand breakdown

customer

landscape

quest

brand

the brand being



ARE ESSENTIAL



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brand breakdown

• 150+ year heritage • Believes financial security for families builds stronger communities • Provides reliable, personal service to customers • Wants to double total deposits by 2018 • There is a low to moderate amount of awareness of Dime • Many retail and micro business customers do not have a clear opinion of Dime. Those who are aware of

Dime and offered their perception see it as the following: Good perceptions:

• Many felt it is trustworthy, small, personal, a family bank with a friendly staff that knows everyone by name

• Micro businesses complemented the personal and committed service they receive from Dime • Customers have referred to it as the “Neighborhood bank” • Customers place an emphasis on the people at Dime, they feel they can trust more than the actual

services or appearance Bad perceptions:

• Has a dated appearance, not conveniently located • Some micro businesses view Dime as a “saving bank” that can not handle their micro business needs

like a commercial bank can • Micro businesses mentioned the need for business credit cards which Dime does not currently provide • Negative perception in online review space (i.e. Yelp)

No perception or misconceptions: • Some thought it was a savings only bank based on the name, and others thought it was a credit union;

(one actually thought Dime sold sneakers) • While micro businesses in the area recognize the brand, they are unfamiliar with Dime’s offerings • No real online presence

brand

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brand breakdown

brand

A GOOD AND TRUE NEW YORK BANK WITH

NO DISTINCT VOICE

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brand breakdown

customer

landscape

quest

brand

the brand being


NO DISTINCT VOICE



ARE ESSENTIAL



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brand breakdown

• Take the time to truly get to know and understand customers as individuals and as a part of the overall neighborhood

• Deeply understand the specific banking needs of micro businesses • Build long-term loyalty through customer service and an in-depth focus on

neighborhoods • Connect and partner with those in the neighborhood, especially with micro

businesses to show commitment to the neighborhood • Customers believe that a bank has a responsibility, through it’s actions, to renew

and refresh people’s good faith in banking • Through action and service, become the true neighborhood bank that will provide

a the best in class neighborhood experience, progressive and nimble services, and an online bank that fits into peoples lives

QUEST

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Double total deposits by 2018

quest

BE THE CHAMPION OF POSSIBILITY AND

INNOVATION FOR THE PEOPLE AND

BUSINESSES WE SERVE

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brand breakdown

customer

landscape

quest

brand


NO DISTINCT VOICE

the brand being

BE THE CHAMPION OF POSSIBILITY

AND INNOVATION FOR THE PEOPLE AND BUSINESSES

WE SERVE



ARE ESSENTIAL



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brand breakdown

customer

landscape

quest

brand

the brand being

MAKE IT HERE!



ARE ESSENTIAL


NO DISTINCT VOICE

BE THE ACTIVE LOCUS OF

POSSIBILITY AND INNOVATION

FOR THE PEOPLE AND BUSINESSES

WE SERVE



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Creative Platform How the Brand Being will come to life in creative execution

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the creative platform

CONNECTEDSCRAPPY

DEDICATEDFRIENDLY COMMUNITY-CENTRIC

PASSIONATE

SECURE

EXPERIENCEDAMBITOUSENTHUSIASTIC

DIME BANK.

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DIME BANK. MAKE IT HERE!

• Highlights Dime’s passion for the human-centric approach• Embodies Dime’s quest to be the champion for the local community • Reflects the personal checking and micro business customer’s mindset • Can address internal and external brand message and values

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dime in-branch expansion ideas

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concept farm proposal

Neighborhood EngagementHow we plan to expand upon this idea through identification of key branches and development of an activation program that will truly engage customers

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where are we going

1. IDENTIFICATION OF CATALYST BRANCHES FOR PERFECTLY FREE CHECKING AND BEYOND

2. PILOT EDUCATION AND OUTREACH PROGRAM THROUGH CATALYST BRANCHES

3. DEVELOP MICRO BUSINESS FOCUS 4. MMA ONLINE

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catalyst branches

Catalyst BranchesWhile a special focus on highest performing branches may be a good strategy for reaching our goals, we felt there may be a larger opportunity to move the needle if we focus on attributes which indicate the highest potential, beyond those that have historically performed best.

Through the branch visits and analysis of Dime branch segmentation data, we have identified a set of attributes which we believe when combined, present a high potential not only to meet 2015 deposit goals, but create a mutually beneficial loop of financial education and feedback with the community.

We have identified these areas as catalyst branches.

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catalyst branches: criteria

VS.

qualitative criteria quantitative criteria

community ethnic niche optimal income population competition

People care deeply for their community and feel they have a stake in its success

Strongly support local business

Has specific ethnicities or cultural groups of a substantial size Subsegments have financial or organizational needs Dime help to can meet

Comparable median income to high performing branches

Aligned with overall market opportunities (mainstream metro, mass middle class, upwardly mobile) as defined by segmentation study

Zip code income represents largest percentage of market prospect opportunity

Overall population of area high and market penetration low

Majority of population fits within the Nielsen P$ycle segment opportunity

Relatively low number of competitors in the area to help create traction quickly

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In order to assess all data inputs and prioritize influence based on our goals, Concept Farm first developed a weighting and scoring system to look at both qualitative and statistical information.

Before considering all factors, the following priorities were established:

1. In order to be considered a catalyst branch, a strong sense of community involvement must be present around the branches. If they did not represent this quality, they were removed from the list.

2. Areas that have a ethnic niche of a substantial size represent an opportunity for Dime to cater to that community, so this was considered as the second most important factor, but not mandatory.

catalyst branches consideration process

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The overall lowest score out of all criteria represented the highest potential among branches. We weighted/ranked by the following:

- Primary ranked criteria - Community emotional appraisal: 1 (most involved) - 4 (least involved) - Ethnic niche: 1 (most diverse) - 4 (least diverse) - Competitors: Number of banks within 10 block radius - Market segment opportunity: 1 (most relevant) - 4 (least relevant) - A-DTA market penetration: Ranked 1-25

- Secondary reference criteria - Percentage of PFC accounts over $2500: Ranked 1-25 - Nielsen P$cycle segment (full zip code): 1 (most relevant) - 4 (least relevant) - Nielsen zip code population market penetration: Ranked 1-25

catalyst branches weighting and scoring

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catalyst branches

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catalyst branches

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catalyst branches

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catalyst branches

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catalyst branches

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catalyst branches

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catalyst branches

Cedarhurst Bay Ridge - 86th St. Bay Ridge - 76th St. Whitestone Greenpoint Flushing Jackson Heights Midwood Williamsburg Westbury

Our first draft of weighted, scored, and ranked branches (with A-DTA areas being priority):

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In looking at this list, we realized there were anomalies and outliers that could not be quantifiably ranked or consistently weighted.

In order to choose the optimal branches to pilot our program, analysis of the demographic data had to be considered, but intuition and expertise was required to develop a recommendation.

catalyst branches consideration process

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catalyst branches

We evolved what we chose to weight and score, referenced all other data, then reflected upon our knowledge of all areas to develop a recommendation

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For Inclusion

Hillcrest: - This neighborhood was just out of the top ranking when population penetration was considered, but we felt the

conditions were ideal for a neighborhood engagement program (only 1 competitor within 10 blocks, school environment, and a substantial Asian community)

Bayside: - This neighborhood was just out of the top ranking, but after visiting the location, we saw potential for growth, based on

the family-centric feel and cultural diversity. We heard through the interviews that language barriers are a point of separation between some of the residents and businesses in this area, which we saw as an opportunity to reach out to the population who feel isolated by language.

Jackson Heights: - While there are many competitors within the surrounding area, we felt that the neighborhood involvement, concentration

of local businesses, extreme diversity (substantial Indian community), and appropriate income levels made this branch an ideal candidate for growth

Bensonhurst: - Bensonhurst presents the right mix of income, neighborhood engagement, and low number of competitors in order grow

personal checking accounts and deposit goals. While the A-DTA market penetration initially kept them out of the running, when compared to the overall population, there is substantial room for growth

Long Island City: - This neighborhood represented many of the ideal qualities of a catalyst branch, but it’s market penetration within A-DTA

areas was an outlier (~50% of households). When we considered that the high-rise population in this area might be skewing the data, this branch became an ideal opportunity for Dime to create change through neighborhood outreach

catalyst branches consideration: outliers

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catalyst branches

CATALYST BRANCH CONSIDERATIONS FOR CHECKING CUSTOMERS: Hillcrest Flushing

Williamsburg Westbury Bayside

Greenpoint Jackson Heights

Bensonhurst Cedarhurst

Long Island City

This approach to scoring allows us to evaluate all of the data based on what we know are our priorities: community, niche markets, targeted income level and competitors.

This list is for consideration, discussion, and alignment with Dime stakeholders.

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Hypothesis:

These neighborhoods validate and reflect the ideas, energy, and potential represented in the Brand Being and present potential for growth.

While some of these branches might have lower balances now, we feel with a little extra love, we can engage the neighborhoods in order to grow in previously underperforming markets to show success for a network-wide program.

catalyst branches

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Community Engagement and Outreach Plan

How we will pilot the community engagement plan through catalyst branch locations

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- In order for Dime to fulfill it’s desire to establish itself as a true neighborhood bank, Dime must take an active role within with their communities and invest time into understanding the unique financial needs of the people and micro businesses within them

- Dime has the opportunity to differentiate itself from it’s larger competitors with a community engagement and outreach program. This will not only help define what a ‘neighborhood bank’ means from the customers’ and banks’ perspectives, but grow relationships within engaged communities

- Not only will this program educate, sell product, and grow deposits, it can inform Dime’s innovations to create services that truly cater to the communities they are in

community engagement plan

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Community assessment of 25 branches and research to date:

• Community involvement • Neighborhood snapshot • Ethnic populace • Demo/psychographics • General banking sentiments • Brand perception/awareness

MacroMicro

Community mapping & organizational on boarding:

• Identification of specific sub-segment opportunities within each branch area

• Specific cultural/ interest-based organizations • Ethnic sub-segment organizations • Community and financial needs of each audience • Dime-specific product & service opportunities • Recommendations on topic areas/community

approach for the neighborhood

In order to identify the right environment for a successful community engagement program, we looked at all 25 branches for macro learning. Within catalyst branches we identified, we will to dive deeper to understand their specific needs:

community engagement plan

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Phase I: Community discovery & mapping Timeline: June 15 – July 15

Per branch, identify: - Prioritized sub-set audiences - Korean, Indian/Pakistani, artists, etc. - Financial and community needs of each audience -Dime product offerings that best meet those needs -Events that address those needs -Organizational partnerships to reach each sub-set audience

community engagement approach

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community engagement approach

Phase II: Community Engagement Timeline: • July 15 – August 31 - Community outreach & event development • August 31 - December 31 - Community events & supporting promotions

Community Engagement Strategy - Deep partnerships with targeted groups - Calendar of events - Outreach/promotion through those partner organizations - Local press coverage

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Phase II: Community Engagement

Working in partnership with local community organizations, we will launch an outreach campaign which typically exists of:

Calendar of Events: •Launch co-branded events both in Dime branches (when available) and in the local community •These events are promoted heavily by our partners •Events focus on both financial and community needs identified in Phase I

Outreach Materials: •Organizational partners distribute fliers, HTML emails, Facebook post, Tweets, and host signage at their facilities, etc. promoting the offerings of Dime bank that meet the needs of their constituents

Local Press •Work with our local partners to leverage their press relationships to generate local press and local event calendar listings. These listings do not require paid media support.

phase II: community outreach

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In order to see how this platform can serve Dime needs, we chose Long Island City, a catalyst branch, to illustrate a sample plan for consideration

community engagement sample plan

NEIGHBORHOOD NEIGHBORHOOD LAYOUT• busy, active metropolitan area.• People sitting on benches outside, eating their lunch, construction workers

and tourists alike. • There are a few small businesses, but mostly restaurants and a big grocery

store.NEIGHBORHOOD ENERGY/VIBE• quaint, close feel to the immediate area that Dime is situated• old-fashioned light-up sign saying “Welcome to Sunnyside”, fresh fruit

markets spilling out onto sidewalks• residents learn about their community through friends/word of mouth,

exploring and online research

CUSTOMERS GENERAL DEMOGRAPHICS • Avg. income: $54,400• very diverse• caters to families, elderly/retired, young peopleLIFESTYLE• Metro Mainstream• hard working, family-oriented • active in community even just by shopping in the local storesNEEDS IN A BANK• lots of ATMs• trusted employees• fast serviceCOMMUNAL SPACE• generally good feedback• small business owner (salon) loved the idea of the space, saying she would

definitely use it, especially for business meetings/interviews. Likes that it would be a private and safe space.

GENERAL DEMOGRAPHICS

BANKS IN SURROUNDING AREA

SMALL BUSINESSES IN SURROUNDING AREA

“Appearance matters to any business, but most important is the face behind the counter.”

SMALL BUSINESS • wants superior banking knowledge • employee-customer familiarity • “bigger banks don’t understand the needs of a small business”• good customer service-follow up calls, fraud protection etc. • fast service, or a separate “small business” service• during business hours• helps business owners go in and out of bank faster• Small Businesses Visited: Ferreteria Hardware, Kmia Salon

Avg. Income:

$54,400

long island city branch snapshot

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long island city catalyst profile

VS.

qualitative criteria quantitative criteria

community ethnic niche optimal income population competition

Heavy community involvement; busy active metropolitan area

Fast paced, with quaint tight-knit feel around Dime branch

Caters to families, elderly/retired, young people

Multi-cultural & diverse, slightly more Hispanics

Main branch market P$YCLE Segment prospect within A-DTA area: Metro Mainstream (average income $47,455)

Overall zip code income: $54,400

Percentage of accounts over $2500, ~27% (room for growth)

Population: 28,302

Dime households (across all DTA’s): 2,950 (10% penetration)

Anomaly: Households may not be fully represented (high rise may skew A-DTA area)

8 competitors

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Phase 1: Community discovery & mapping Timeline: June 15 – July 15


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Our Process:

• Engage organizations • Host brainstorm meetings with local organizations who reach our targeted

constituent groups

• Build program platform • Work with our partner organizations to build out the elements of a co-branded

platform • Program elements could include any/all of the following:

• Co-branded events — social, educational, B2C, B2B, etc. • Educational content • Customized product offerings • In-branch activations • Sponsored events


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Phase II: Community Engagement

Examples of community engagement activity:

• Open Studios: Displaying local artwork and providing financial education from successful artists

• B2C Panel Event idea: How to turn your hobby into a successful side business

• B2B Workshop idea: Celebrity-led seminar on how to build a lucrative art career


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community engagement collateral examples

Facebook Post:

Distributed by our partner organization(s) through their social platforms FPO

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Flyer:

Posted at partner galleries and art spaces throughout LIC and at Dime branch FPO

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MAKING BANK

WHILE MAKING

ART

In partnership with Dime Savings Bank of Williamsburgh, the Long Island City Artists Association will be hosting a seminar about the ins and outs of building a profitable creative career. Join celebrity artist XXXX XXXX as she shares her expertise.

Register Now

HTML Email:

Sent by our partners through their email lists, as well as to DIME customers

FPO

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Weekly dashboards present real-time data on: - Online/offline reach - Constituent engagement - Brand perception change - Checking account leads - Checking accounts secured through community

engagement strategy

phase II: measurement

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phase II: measurement

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where we are going

2015 Campaign directionHow this plan will be executed across traditional and activation initiatives

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PHASE I: Perfectly Free Checking broad reach, 6/15-8/3

Media: Daily News & Newsday, 7/13-7/27 In-Branch: General in-branch posters, 7/13-8/3 Timing: Assumes newspaper & in-branch begin simultaneously Hyper-local: Begin community mapping, 6/15-7/15

phase 1 plan

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next steps

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next steps

PHASE II: PFC local reach 7/27-8/31

Media: Transition to local papers (overlapping with large) 7/27 In-branch: Begin in-branch activation posters (top ten) ~8/1 General print materials continue Hyper-local: Begin community program development 7/15-8/30

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next steps

PHASE III: PFC & Micro business hyperlocal reach (9/1)

Media: Value add stories / calendars In-branch: New posters (3 pieces) and inserts (3 pieces) Hyper-local: Community activation and engagement events 9/1-12/1

93*not to scale - for illustrative purposes only

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perfectly free checking promotional timing

may june july august september october november december

phase 1: planning & production phase 1: in-branch materials / weekly activations

Larger newspaper ads: perfectly free checking promotions (driving to branches)

Local newspaper ads: promote community events & value added coverage

phase 1: community mapping

& organizational on-boarding

phase 2 : community events & supporting promotions phase 2 :

community outreach & event

development

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Appendix

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BACKGROUND A select group of Dime branch managers and CF held a conference call on Friday, June 5th to discuss their findings from visiting prospects during the Dime Business Sprint. In addition, it was an opportunity to insure that consistent feedback in the marketplace was being obtained from each group as CF begins to build out the Brand Being. The data is derived from small businesses that managers spoke to on their sprints or CF interviewed in branch areas.

SMALL BANK VS COMMUNITY BANK SATISFACTION

• Concept Farm research has shown that some small businesses appear to have a very utilitarian reaction towards large banks, yet still seem to bank with them. While we know small businesses want personal customer service and for the bank to understand their needs, we are finding that a lot of small businesses bank with large banks (Chase, Bank of America, and CitiBank) for their convenience in location, longer hours, and products and services that smaller banks may not be able to provide.

• Dime branch managers mentioned that advancement in banking technology is causing more small businesses to bank with commercial banks. Online banking is the key focus while some small businesses are looking for banks that provide mobile banking, phone apps that will notify clients about a fraud, or convenient online wire transfers.

• Small businesses are also often looking for loans. Commercial banks are now bringing in their lending teams as opposed to using branch managers, since they have a higher loan expectation. Since Dime offers a small business line of credit, there is an opportunity to service this segment of the market.

branch manager call report

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SMALL BUSINESS BANKING NEEDS

• Concept Farm has heard that low fees are important to small businesses and often a reason to change banks. Dime branch managers confirmed that they have won a few small business clients due to their relatively low service charges and minimums compared to commercial banks such as Chase. However, it was mentioned that once a banking relationship has been established with the client, often time Chase and other larger banks will waive the fees which makes small businesses less inclined to leave and switch banks.

• Chase’s has a renewed focus on building relationships and establishing trust with their small business customers in order to keep them banking at Chase. Since relationship management is a key factor for small businesses, Dime will be facing off against Chase and other large banks as they renew focus on relationship management.

• Many small businesses seek a business credit card; however, Dime is currently not offering this. It is important for many of these small businesses to receive cash rewards or points for using their business credit card, especially when paying vendors large amounts of money.

AWARENESS AND PERCEPTION OF DIME • While many small businesses we spoke with are aware of Dime, most view it as a savings bank that is unable to handle their small business needs like a commercial bank can. need since it doesn’t offer money transfers internationally for personal accounts.

branch manager report

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COMMUNITY INVOLVEMENT

• Concept Farm noticed that there are several neighborhoods around the Dime branches that have a large population of a specific ethnic group. While the branch managers mentioned that each branch is staffed with employees that speak the language of those ethnic groups, the financial needs of select ethnicities vary and Dime needs to be prepared to satisfy them. For example, if a small business owner needs to wire money as a consumer from his personal account to their family overseas, Dime is unable to fulfill that need since it doesn’t offer money transfers internationally for personal accounts.

• Dime is currently working on partnering and networking with small businesses in the surrounding area such as Verizon, Big Apple Circus, and the Brooklyn Cyclones. Maureen had spoken with a Verizon employee about hosting a networking event with small businesses in the area and Verizon seemed very eager to join. It was also mentioned that there could be an opportunity to partner with St. John’s University in Hillcrest to help with a Career Day or another event. There is an even larger opportunity for Dime to partner with more small businesses in the area by opening a communal meeting space to host networking events.

branch manager report

dime community engagment campaign

Marketing