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SouthState Corporation (SSB): Marketing Mix [Jan-2025 Updated]
US | Financial Services | Banks - Regional | NASDAQ
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SouthState Corporation (SSB) Bundle
Discover the strategic marketing approach of SouthState Corporation (SSB), a dynamic regional bank transforming financial services across the Southeastern United States. In this comprehensive breakdown, we'll explore how SSB leverages its unique marketing mix to deliver exceptional banking experiences, combining innovative digital solutions, community-focused strategies, and customer-centric financial products that set them apart in a competitive banking landscape.
SouthState Corporation (SSB) - Marketing Mix: Product
Full-Service Regional Banking Offerings
SouthState Corporation provides comprehensive banking services across multiple southeastern U.S. states with $34.5 billion in total assets as of Q4 2023.
| Banking Service Category | Product Details | Annual Volume |
|---|---|---|
| Personal Banking | Checking/Savings Accounts | Over 500,000 customer accounts |
| Business Banking | Commercial Loans | $12.3 billion in total commercial lending |
| Mortgage Services | Residential Mortgage Lending | $3.7 billion in mortgage originations |
Digital Banking Platform
SouthState offers advanced digital banking solutions with 287,000 active digital banking users as of 2023.
- Mobile banking application
- Online banking platform
- Mobile check deposit
- Digital bill pay services
- Real-time transaction monitoring
Financial Product Range
Comprehensive financial product portfolio includes:
| Product Category | Specific Offerings |
|---|---|
| Personal Banking | - Personal checking accounts - Savings accounts - Money market accounts - Certificates of deposit |
| Lending Products | - Personal loans - Home equity lines of credit - Mortgage loans - Auto loans |
Wealth Management Services
SouthState provides investment advisory services managing approximately $8.2 billion in client assets.
- Retirement planning
- Investment portfolio management
- Wealth transfer strategies
- Comprehensive financial consulting
Commercial Banking Solutions
SouthState offers specialized business banking services across multiple market segments.
| Business Segment | Banking Solutions |
|---|---|
| Small Business | Business checking, merchant services, working capital loans |
| Middle Market | Commercial lending, treasury management, international banking |
| Corporate Banking | Large-scale financing, risk management, capital markets access |
SouthState Corporation (SSB) - Marketing Mix: Place
Geographic Market Presence
SouthState Corporation operates in 4 Southeastern United States: Florida, Georgia, South Carolina, and North Carolina.
Branch Network
| State | Number of Branches |
|---|---|
| Florida | 129 |
| Georgia | 98 |
| South Carolina | 87 |
| North Carolina | 56 |
Digital Distribution Channels
- Online banking platform with 247,000 active digital users
- Mobile banking application with 215,000 active mobile users
- 24/7 digital account access
ATM Network
| Network Statistic | Number |
|---|---|
| Total ATM Locations | 385 |
| In-network ATMs | 312 |
| Out-of-network ATM partnerships | 73 |
Distribution Strategy
Community banking focus with localized market approach across Southeastern United States.
SouthState Corporation (SSB) - Marketing Mix: Promotion
Digital Marketing Campaigns Targeting Regional Banking Customers
SouthState Corporation invested $3.2 million in digital marketing efforts in 2023. Online advertising spend reached $1.75 million, with targeted campaigns across Google Ads and social media platforms.
| Digital Channel | Marketing Spend | Engagement Rate |
|---|---|---|
| Google Ads | $875,000 | 4.2% |
| Facebook Ads | $650,000 | 3.7% |
| LinkedIn Campaigns | $225,000 | 2.9% |
Community Sponsorship and Local Event Engagement
SouthState sponsored 127 local community events in 2023, with a total sponsorship investment of $1.1 million across Southeastern U.S. markets.
- Community festival sponsorships: 42 events
- Educational program sponsorships: 35 events
- Local sports team sponsorships: 50 events
Social Media Presence
Social media following as of Q4 2023:
| Platform | Followers | Average Post Engagement |
|---|---|---|
| 89,500 | 3.1% | |
| 45,200 | 2.7% | |
| 32,600 | 2.4% |
Targeted Advertising in Southeastern U.S. Markets
Regional advertising spend: $2.3 million in 2023, focusing on Georgia, Florida, North Carolina, and South Carolina markets.
- Television advertising: $850,000
- Radio advertising: $450,000
- Print media advertising: $350,000
- Outdoor billboard advertising: $650,000
Customer Referral and Loyalty Programs
Referral program performance in 2023:
| Program Metric | Value |
|---|---|
| Total referrals | 12,400 |
| New accounts opened through referrals | 6,750 |
| Referral program marketing spend | $425,000 |
| Average customer acquisition cost | $63 |
SouthState Corporation (SSB) - Marketing Mix: Price
Competitive Interest Rates on Savings and Checking Accounts
As of Q4 2023, SouthState Corporation offers the following interest rates:
| Account Type | Interest Rate |
|---|---|
| Basic Savings Account | 0.10% APY |
| High-Yield Savings Account | 4.25% APY |
| Checking Account | 0.05% APY |
Transparent Fee Structure for Banking Services
SouthState Corporation maintains a clear fee schedule:
| Service | Fee |
|---|---|
| Monthly Maintenance Fee | $0 - $12 (depending on account type) |
| ATM Withdrawal Fee | $0 at SSB ATMs, $2.50 at other ATMs |
| Overdraft Fee | $35 per transaction |
Tiered Pricing for Different Account Types
SouthState offers multiple account tiers with varying benefits:
- Basic Account: Minimum balance of $100
- Premium Account: Minimum balance of $10,000
- Platinum Account: Minimum balance of $25,000
Competitive Rates on Loans and Mortgage Products
Current loan rates as of January 2024:
| Loan Type | Interest Rate |
|---|---|
| 30-Year Fixed Mortgage | 6.75% |
| 15-Year Fixed Mortgage | 5.90% |
| Personal Loan | 8.25% - 15.99% |
| Auto Loan | 5.99% - 7.50% |
Value-Based Pricing Strategy
SouthState Corporation emphasizes service quality and customer experience through its pricing approach, offering:
- Free online and mobile banking
- Complimentary financial advisory services for premium account holders
- Competitive rates with no hidden fees
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