Citizens Bank

Selling in a Down Market

Challenge:

Effectively market rate-driven products in a falling rate environment (PMMA and HEQ).

Opportunity:

Leverage security and peace-of-mind of FDIC insurance offering a "safe savings"- despite low rate offer (PMMA).

Promote low rate with a savings appeal; pay down higher-interest loans / credit by consolidating (HEQ).

In both, position bank as reliable, trusted, safe and secure resource that will help customers make the most of what they have.

Results:

Initial results show HEQ with a 47% lift in results and PMMA with average balance per new account up 45% compared to the previous month's balances.