In an effort to stand out from larger competitors, Banknorth Group has launched a branding campaign focusing on its customers.
Dubbed "Look Around," the ads prompt people to question their current banking relationships while promoting the benefits of Banknorth's products. The campaign was developed by Bozell Kamstra, Danvers, Mass., and includes print and television ads, posters, brochures and collateral executions. Spending was not disclosed; Banknorth spent $7 million on ads in 1998, the last year for which figures were available.
"Larger players are finding that smaller community banks are getting a lot of media attention," said Bozell Kamstra official Tom Stone. "Community banks are coming out ahead in terms of service and the personal attention that they're able to give."
Previous ads created by Bozell Kamstra for the client focused mainly on promoting products--but a fresh approach was deemed necessary to take on high-profile competitors such as FleetBoston and Citizens Bank.
"Customers can go anywhere they want to," Stone said. "And the challenge is to acknowledge that" and convince them to do their banking with Banknorth.
There will likely be a dozen print executions, the first of which recently broke regionally in daily newspapers; a TV component will air in the fall. The effort will appear in the markets where the bank does business: Connecticut, Maine, New Hampshire, Vermont and upstate New York.
Banknorth Group, Portland, Maine, was formed in May as a result of the merger of Bozell Kamstra client Peoples Heritage Financial Group of Portland and Banknorth of Burlington, Vt.
Bill Drake and Leo Savage, handled art direction; copy was written by Dan Reeves, Alana Carpenter and Marc Simon; illustration was done by John MacDonald. K