CBT: A Positioning the Bank Could Bank On.

Submitted by ckwebacct on Tue, 2011-07-12 10:49
The Challenge: 

The Connecticut Bank & Trust Company (CBT), a local community bank that opened in 2004, asked C+K to develop a new branding strategy and marketing campaign, as well as provide support for the grand openings of its new branches.

As a new community bank with seven branches in the very competitive market of Central Connecticut, CBT struggled to differentiate itself among the competition and had not yet created a positioning line that communicated what the CBT brand represented.

The Approach: 

Since CBT serves both consumers and businesses, it was important to develop a positioning line that would resonate with both audiences and could stand the test of time. As a result, C+K developed the following positioning line for CBT:

CBT. Different. Bank on it.

C+K introduced this new positioning through a radio, print and transit advertising campaign. Through our media buying power and negotiating, C+K was able to secure value-added spots and better rates far exceeding CBT’s previous experience.

C+K also suggested that CBT try to capitalize on its personalized business services which include visiting their clients’ places of business to conduct bank transactions and picking up deposits. This unique offering needed a name to help differentiate CBT in the market among other banks. C+K named the service Concierge Banking and also developed print and radio ads that promoted the service.

The Results: 

Early feedback on the campaign has been positive and CBT and its Concierge Banking service was featured in an article in The Hartford Business Journal this past spring, giving the campaign even more visibility. CBT is Connecticut’s fastest growing community bank, opening two additional branches in 2007. Since working with C+K in 2006, CBT has decreased its net losses by more than 10%.