In a recent reversal of standing regulations, Bay State banks can, for the first time, offer interest on business checking account balances. Georgetown Bank anticipated that several competitors would develop products to take advantage of this regulatory change. Georgetown Bank intended to be first to market with interest-bearing business checking.
The goal of the Plus Interest Business Checking campaign is to attract new business customers. A secondary goal is to generate a spike of awareness for the bank with this product announcement. Presently, Georgetown Bank is not well known as a business bank, and this launch will be the first layer in an integrated campaign designed to change this misperception.
The core strategy is to position Georgetown Bank as a business banking leader, an institution that is leading the market with interest-bearing business checking. This message is communicated in radio spots that drive listeners to a targeted microsite outlining product features and benefits. Follow up work will include TV spots to further strengthen perceptions of Georgetown Bank as a business bank.
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