Federal Trust Bank

OVERVIEW
Federal Trust Bank consists of full-service branch banks primarily located along the Interstate 4 corridor from New Smyrna Beach to Orlando.

Federal Trust’s business strategy had been to concentrate on selling time deposits to individuals and using the funds to purchase mortgage loan packages from resellers. This strategy resulted in a customer base with a high average age, limited deposit and lending opportunities, and extremely low awareness levels for the Bank and its services.

Federal Trust Bank retained Patterson/Bach Communications to assist them in implementing a new business strategy and to develop a communications strategy to get the message to its target audiences.

STRATEGY & POSITIONING
The objectives of the marketing communications plan developed by Federal Trust Bank and Patterson/Bach were to build awareness of the brand “Federal Trust Bank” among residents and businesses within a five-mile radius of each branch banking facility and to build comprehension of the products offered with emphasis on personal and business checking and savings accounts, residential home equity loans, and business loans.

Patterson/Bach utilizes a three-phase process consisting of an initial strategic planning session with Federal Trust Bank’s senior management and Patterson/Bach Communications. When working with a new client, Patterson/Bach has found that a strategic planning session with senior management is essential to understanding the challenges facing the client, and it provides a platform for management to become involved in the initial planning process.

Phase 2 and 3 consisted of the development and implementation of a strategic marketing communications plan.

To achieve the objective of building awareness of the “Federal Trust Bank” brand and to build comprehension of the Bank’s products, Patterson/Bach recommended radio, direct mail and print advertising. Since each of the branches service area is considered to be approximately a five-mile radius around the bank, community newspapers were chosen to communicate with the target audiences. The direct mail campaign targeted new residents and new businesses moving into the branches’ markets. To begin building awareness of the brand, Patterson/Bach recommended radio in the form of traffic sponsorships.

The print advertising and the traffic sponsorships were rolled out in two 4-week flights during 4th quarter 2007. The monthly direct mail to new residents and new businesses in each branch’s market dropped twice a month for six months ending in March of 2008.

Patterson/Bach also developed a new position statement for Federal Trust: “Determined To Do More.” This position statement was incorporated into all of the communication elements for Federal Trust – radio spots, newspaper ads and direct mail material.

EVALUATION
The campaign developed for Federal Trust Bank achieved its objectives. Awareness of the brand, Federal Trust Bank, increased throughout the market area, and deposit accounts for the four months ending December 31, 2007, increased by approximately 700 over the ten branch offices.

Web Site

New Movers 9"x6" Direct Mail - Consumer

New Movers 9"x6" Direct Mail - Business

Consumer Targeted Advertising

Business Targeted Advertising