Umpqua had to understand its own culture. What did Umpqua believe in? What was it good at? What did it stand for? What could it stand for?
After researching these questions thoroughly, Umpqua found its customers were craving intimacy. They were tired of the impersonal service they received from regular banks and suspicious of financial institutions in general. While other banks were competing with a convenience strategy centered around the Internet and ATMs, Umpqua identified an opportunity to provide customers with a “slow banking” experience that was both inspirational and encouraging.
Good customer service, yes. I’m all for it. But intimacy? Please.