Citibank's popular New York City bike-share program, Citi Bike, taught the firm to step out of its comfort zone, stay true to its brand and experiment to keep fresh. Nearly two years in, the company continues to lean on the initiative to strengthen its brand image.
In December, Citi brought its bike-share program to Miami and is seeing strong results in the market so far, said Elyssa Gray, director-brand and advertising at Citi, at American Banker's Retail Banking conference yesterday. The company also plans to expand the program in New York, which is two years into a six-year sponsorship.
"We'll continue to try new things with Citi Bike," said Ms. Gray. "We might not get it right every single time, but if we stay true to the customer and what the bike riders of New York want, then they'll forgive us if we make a few mistakes here and there."