Cooperative Bank of Cape Cod
Is it possible to rally a community during a public health crisis?
COVID-19 forced the Cooperative Bank of Cape Cod (aka “The Coop”) to hit pause on the new small business banking positioning campaign we had recently created for them. The bank pivoted, and concentrated its attention on supporting the Cape Cod community through the challenging financial situations caused by the pandemic.
Focus group research told us that individuals and businesses prefer to work with a bank that delivers what they want the way they want it. Turns out that’s exactly how Centreville Bank operates. So we developed “banking the way you want” messaging to encourage potential customers to choose Centreville. To make the messages ring true, we invited the bank’s existing customers to share their stories of banking with Centreville — and many were happy to do so.
The bank grew loans, deposits, and overall assets — with a significant 57% jump in its commercial loans (a key product line and focus of the campaign). The then chairman/CEO said the campaign put the bank on an even playing field with its competition.
Online ads led directly to information about how to get help from the bank.
Print ads helped solidify the bank’s position as a Cape Cod business that genuinely cares about helping the Cape rebuild.