Summit Bank: "You Deserve the Best" Fee Rollback Sales Promotion Campaign

In order to keep customers from migrating to smaller, community banks offering low/no fees and service charges, Summit Bank took the unprecedented step of rolling back fees on its most popular checking, savings, and home equity products in what became the most aggressive promotion in the bank's history.

Primary objectives were to increase deposits, retain customers, and stimulate new banking activity from both customers and prospects.

We created a multi-media campaign built around the theme "You Deserve the Best", and maximized its impact with a $250,000 sweepstakes that featured best-in-class merchandise, a grand prize of $100,000 in cash, and a specially-designed Vermont Teddy Bear for customers who closed on selected loan products.

The campaign generated 250,000 new accounts and loans, enabling the bank to exceed its goals.
 
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