CASE STUDY
THE LOWELL FIVE | Business Banking Program
BACKGROUND
The Lowell Five is the oldest financial institution in the city of Lowell, Massachusetts–and has been a cornerstone of the community for over 150 years. Their niche in the banking market is providing superior financial products to individuals, families, businesses, non-profits and municipalities. The Lowell Five takes pride in offering exceptional customer service and providing continued support to Lowell and surrounding communities.
CHALLENGE
Primarily known for their retail products and services, a recent research study conducted by the bank confirmed that The Lowell Five was not as well known as a business bank. This finding was not surprising, as the bank has historically invested its advertising budget promoting retail products and services. Despite the coupling of their well-known and highly regarded commercial lending team with an extensive line of business banking products, awareness levels still registered quite low.
STRATEGY
The strategy for the business-banking program is quite simple; create awareness of, and preference for the business banking products and services offered by Lowell Five. In order to deliver the largest audience and begin the shift in perceptions of The Lowell Five as a business bank, broad reach media such as television and outdoor was utilized. A layer of targeted media including print, online, transit and radio promoted specific products and services such as Cash Management, Commercial Lending and Business Companion Savings.
CREATIVE SOLUTION
The creative message supported the idea that The Lowell Five should be on the top of your consideration list when choosing your next business-banking partner. With a broad range of solutions to help any business, The Lowell Five can make doing business easy. Also highlighted were The Lowell Five's responsive business banking team, their solutions focused approach to doing business and the flexible business banking products and services they offer.
