Successful New - Siefer Consultants

Successful New
Loan
Promotions
Introduction
Dear Client,
Now you can give your loan volume a boost with the help of our new 155-page manual, Successful
New Loan Promotions.
This all-new manual is the biggest publication we’ve ever offered. It’s packed with marketing
strategies and promotional campaigns to help you increase:
n Auto, Boat & RV Loans
n Business & Commercial Loans
n Mortgage Loans & Home Equity Loans
n Personal & Credit Card Loans
Today, your institution’s ability to attract new borrowers is more important than ever. Successful New
Loan Promotions contains the strategies you need to grow loans profitably, without taking unnecessary
risk.
In the following pages you’ll find dozens of detailed loan promotion stories, which our editors have
categorized for you into four chapters. All of the ideas in these stories have already proven successful in
a bank or credit union. To benefit from them, simply implement the ideas in your own institution and
watch your loan volume and profits soar!
If you have any questions as you use this publication, please contact us by e-mail, at [email protected],
or call us at (712)660-1026.
Sincerely,
Jessica Siefer, Editor, Siefer Consultants, Inc.
Editor’s Note: The articles in this manual are reprinted from publications by Siefer Consultants (Storm Lake, Iowa). The names of
the organizations and representatives are published as they appeared in the original articles.
The materials in this publication are illustrative only, and are not intended as a definitive analysis of the subjects discussed.
Readers are cautioned to consult with their advisors regarding the application of these materials to their particular situation, and
the specific effects of any applicable Federal and State laws.
© Siefer Consultants, Cover Image Copyright: www.iStockphoto.com/000015275043.
Table of Contents
1 Auto, Boat, & RV Loans
4
2 Business & Commercial Loans
29
3 Mortgage & Home Equity Loans
76
4 Personal & Credit Card Loans
124
Chapter 2 | Business & Commercial Loans
A series of “YOUnique” stories about a
Massachusetts bank’s own business clients
help promote its lending services
C
harles River Bank ($212 million, Medway, Massachusetts) is telling
“YOUnique” stories about its business and commercial customers.
The stories include a combination of videos with print, electronic, and TV ads
that spotlight various Charles River Bank business customers.
To read about a few of the customers whose stories have been covered during
the campaign, see the sidebar story on page 57, as well as the graphic shown
below.
Ann M. Sherry, Senior Vice President, Customer Care & Relationship
Development, says that Charles River Bank introduced the Younique concept to its
marketing and branding two years ago.
“We have many stories of special things that we have done for our customers,
and we knew we needed to find a way to set our bank apart in the world of
advertising,” explains Sherry.
Ad Featuring a Charles River Bank “YOUnique” Story
“I LOVE this bank!
Charles River Bank
understood my
business. They rolled
up their sleeves and
created a specific
financial solution
that supported
my success.”
-Tony Khoury
At Charles River Bank,
every story is
nique.
YOU
This is Tony Khoury’s story…
Tony, an engineer and entrepreneur, is a man with creative ideas and big dreams. So, when he
shared his plans with Charles River Bank to transform the old buildings in Bellingham Center into
a new retail and office complex – Khoury Plaza – we helped him achieve his dream. Commercial
Lender Peter Rizzo understood the challenges and worked with Tony to create a YOU nique
financing plan.
Tony and Charles River Bank built a level of trust and understanding while working on the Khoury
Plaza. We designed a package of banking services that specifically meets his financial needs. So,
it was natural that Tony chose to work with Peter again when he established Gateway Liquors.
At Charles River Bank, building personal connections and powerful solutions defines who we are.
Tony’s experience is just one
YOU nique story. Together we can write yours.
70 Main Street • Medway • 508.533.8661
2 South Maple Street • Bellingham • 508.966.2857
1 Hastings Street • Mendon • 508.422.9792
www.charlesriverbank.com
Member FDIC, Member SIF
Equal Housing Lender
Source: Charles River Bank (Medway,
MA)
Agency:
Client:
W.S.#:
File Name:
Type:
Location:
Artist:
AE:
Davis Advertising
Charles River Bank
17818
CRB17818_Bellingham
indd
Financial
JP
BB
Media:
Size:
Color:
Date.
54
Bellingham Bulletin
9.75” x 5.25”
4C
TBD
Request for PDF to be put in
WorkZone Holding Tank
AE/AC:
PDF uploaded to WorkZone
Holding Tank
Artist:
No. of Revisions:
3
Chapter 2 | Business & Commercial Loans
She says that after talking to Charles River Bank’s team members and to its
customers, the bank’s ad agency came up with the Younique concept behind the
campaign.
“Each customer is unique, the way we work our customers and the relationships
we form are unique, and the solutions we provide are not cookie cutter,” says
Sherry. “The focus is on ‘you,’ the customer—hence, the idea of Younique.”
Sherry says the focus of the Younique advertising is on the bank’s business
lending solutions. “We have many customers with truly interesting stories,
especially our business customers.”
While some of the Younique ads include actual customers and their detailed
stories, others—such as online ads—are simply focused on the Younique theme.
The bank gets stories from a variety of sources, including relationship managers,
commercial lenders, retail banking managers, mortgage consultants, and financial
services advisors.
Once a story idea is accepted, the bank contacts the accountholder for approval.
“We talk with the customer to see if they’d be interested in sharing their Younique
experience with our CRB team and how we were a part of their success. No one
has ever said no. Once we have an OK, we talk with our ad agency about how to
tell the story.”
From there, the ad agency creates the Younique ads and videos that feature that
particular business.
Rather than focus on a specific product or service, the Younique stories highlight
how the bank has developed personal relationships with customers, and provided
them with powerful solutions.
“It’s all about finding the best options for each customer’s particular situation
and needs. For many business customers, creating a Younique financing
solution is usually at the heart of the relationship. That might include financing
to purchase property, renovate, buy equipment, or for lines of credit to support
variances in seasonal cash flow. For some, it might be an SBA loan. The
combination of financing solutions is key to business success.”
55
Chapter 2 | Business & Commercial Loans
Additional services Charles River Bank offers to fit the specific needs of its
business customers include cash management services, credit and debit card
payment solutions, online banking, and wire services.
Currently, the bank is running two Younique TV ads and is also in the process
of creating two more that will take a different approach. For example, the two
new ads will be animated TV spots that are fairy-tale based. “One is focused on a
cleaning company owner, Cyndy—think Cinderella—and how CRB provided the
solutions to create her Younique fairy tale ending, with a growing business and a
new location for her cleaning company headquarters,” says Sherry.
“There will also be an ad created to talk about finding a bank that can create the
best financing program to help move a young family into their first home.”
In addition to these new ads, the bank will continue developing ads that feature
real business customers.
Sherry says that the Younique stories have been very successful, particularly in
terms of getting the word out about the bank’s business lending solutions.
“Many of the business owners featured operate in very visible locations,” she
says. “Human nature is such that people are interested in finding out more about
people and businesses they see or use regularly. Our Younique stories bring real
people into the business success stories—real people who have created these
businesses, and real people at our bank who know and understand what these
folks need to make their business more successful. It also shows that our bank
has sophisticated solutions available.”
Marketing media used for the bank’s Younique campaign include:
n TV ads for Comcast and Verizon Cable subscribers in the Milford, MA Zone,
including networks such as HGTV, ESPN, TLC, USA, Food Network, and Fox News;
n Local newspaper print outlets;
n YouTube videos;
n Online and mobile advertising on media outlets.
According to Sherry, the bank receives the most feedback from the cable TV
Younique ads. “Especially when the ads appear during Patriots games on ESPN.”
56
Chapter 2 | Business & Commercial Loans
Source: Ann M. Sherry, Senior Vice President, Customer Care & Relationship
Development,
Charles River Bank, Medway, MA; phone (508)533-8661, ext. 3131;
e-mail
[email protected].
“YOUNIQUE” STORIES
Ann M. Sherry, Senior Vice President, Customer Care & Relationship
Development at Charles River Bank ($212 million, Medway, MA), provides the
following three examples of past “YOUnique” stories:
1) Ed Kinsley moved from California and was looking for mortgage financing
on an antique home he was hoping to buy. He was referred to the bank.
“While helping him with financing to buy his home, we heard about his
ideas to transform an old fashioned bowling alley into a state-of-the-art, family
entertainment center with restaurant and bar,” says Sherry. “Our team put
together a ‘Younique’ plan to fit his exact needs. Ed also recently purchased a
second location, and we’ve helped him create another thriving entertainment
center.”
2) John Greene, a talented artist and real estate developer, purchased a
historic mill located on the main street of town where Charles River Bank is
headquartered. “Over the years, many people have tried to make something of
the mill, but were not very successful,” says Sherry. “John had some very
concrete yet ‘Younique’ ideas to transform the mill to a thriving retail, business,
and professional center, while refurbishing the mill to feature some of its most
beautiful attributes, such as the brick walls, tall ceilings, and timber trusses.
Working with John, his ideas have become a reality and now, The Stone Mill is
the premier office location in town.”
3) Tony Khoury is an engineer and entrepreneur who wanted to revitalize the
retail and professional area located in the heart of Bellingham, MA. “He located
his engineering company there and attracted many retail and professional
entities to his beautiful new center,” says Sherry. “Tony then decided to open a
liquor store in some of the retail space. It’s been very successful. We continue
to work with Tony with his entrepreneurial spirit as he takes on new projects.
Tony tells anyone who listens how much he loves our bank.”
57
Siefer Consultants, PO Box 1384 n Storm Lake, IA 50588 n phone (712)660-1026 n fax (866)680-5866 n www.siefer.com n [email protected]