North Shore Bank

Another PR area of expertise is getting the media to write articles or talk about our client or his product. We have diligently pursued this type of free advertising for all of our clients over the years. Here's an example:

North Shore's "Interest Upfront" campaign drew national interest with Bank Advertising News writing a feature article on the bank's unique "never before done" strategy.

By JOEL DRESANG
of The Journal staff

North Shore Bank's ploy to grab new territory in Milwaukee's CD war has captured national attention.

The trade publication Bank Advertising News has featured North Shore's "interest-in-advance" promotion among a handful of "innovations and gimmicks" for trying to sell bank certificates of deposit.

With feverish lending activity in the Milwaukee area and high costs of borrowing money, banks have been battling one another for savers' deposit money.

In October, North Shore ran a
two-week promotion through which it offered up to $3,500 in advance as interest on a 16-month CD. For a minimum deposit of $5,000, savers could have $350 cash up front, which North Shore's ads suggested depositors could put in a free checking account with the thrift.

The campaign's hunch - that a lot of people would welcome ready cash for the holidays - has paid off, Jack Fish, vice president and regional manager of North Shore, said Thursday.

"It did work well and created a lot of interest," Fisher said, especially since the CD's rate - 5.2% with the cash advance - was more than a quarter of a percentage point lower than the going rate.

Once North Shore's bankers got the deposits and cut the checks for advance interest, they tried to convince the new customers to do other business with the bank.

Fisher notes that whether the customers keep accounts with North Shore after their 16-month deposits mature will be the true test of the promotion's effectiveness.