Deposit product promotion.
Position | IDEA BANK - Clinton Savings Bank signed deal with McDougall and Duval Advertising - Brief article |
Special Valentine's Day CD Campaign
Institution: Clinton Savings Bank (CSB), Clinton, Mass.
Asset size: $469 million
Agency: McDougall & Duvall Advertising, Amesbury, Mass.
The bank had a goal of increasing total deposits and adding new checking account customers. It decided upon a one-day certificate of deposit (CD) promotion designed to attract new money, generate new checking accounts and to create opportunities for new relationships.
The bank decided to offer a special 2.14-percent rate (highlighting the date, 2/14) on a 14-month CD. As part of the promotion, they gave a box of chocolates to every customer who visited that day. At the end of the day, each branch drew a winner who received a bouquet of red roses, which was hand-delivered by a CSB employee.
The campaign included print, radio and online advertising. The online advertising used ads targeted at people using keyword searches for the product terms related to the campaign: CDs, IRA CDs, certificates of...
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