Northern Bank, a local bank with offices located throughout Middlesex County, wanted to grow deposits in significant amounts in order to fund sustained loan growth. They were intrigued by the idea of an online offering that was focused out of market to avoid cannibalizing existing retail strategies. However, critical to this effort was a deep understanding of the regulatory compliance viewpoint to avoid classification as brokered deposits. This understanding was critical to any digital campaign recommendations.

Agency 451 was tasked with first developing a new approach for Northern Bank’s online deposit-gathering effort. This included coming up with a name, logo, design and look/feel that would naturally feel a part of Northern Bank, but would stand slightly apart. Once completed, Agency 451 designed the fully-compliant “micro-site.” Again, the goal was to stand apart while still naturally fitting as part of Northern Bank’s overall look/feel. Lastly, 451’s team developed a strategic digital advertising plan to raise awareness and gather out-of-market deposits from Northern Bank’s target audience. Initially designed as a “sprint” campaign, the expectation was that the bank would commit to a longer-term plan if the initial results were positive.

After three months, Agency 451 helped Northern Bank achieve 124% of their three-month goal and 88% of their six-month goal. Agency 451’s efforts led to Northern Bank’s senior management adjusting upward their 12-month goal and committing to a full-year digital program for Northern Bank Direct. Additionally, 451 engaged on a full-service basis, through research, creative, digital and more.