Vinod didn’t find his Purpose!
Led by CMO Vinoo Vijay, the marketing organization is playing a critical role in bringing the bank’s purpose, mission, and values to life.
Moments of significant change can often present an opportunity for a business to rethink why it exists and how it can make a bigger impact on the lives of its stakeholders. Such was the case for Truist Financial Corp., the bank created by the 2019 merger of BB&T Corporation and SunTrust Banks. As the Charlotte, North Carolina-based company has worked to integrate systems, align employees, and launch a new brand identity, Truist has made its purpose—to inspire and build better lives and communities—central to its marketing and business strategy.
“Today, customers are increasingly attuned to the ways in which businesses live out their values,” says Vinoo Vijay, executive vice president and CMO, who joined Truist in 2020. “This means we have to be authentic about our purpose in the products and services we offer, in the decisions we make, and in the way we communicate them.”
Truist has a unique opportunity to put purpose at the heart of the brand as the company activates its new name and identity, Vijay says. “While banking typically meets customers’ functional demands, it doesn’t necessarily address their emotional needs,” he explains. “We decided this was a serious gap in the market—and that we could fill it by being more purpose-oriented.”