Do You Really Need to Call Ally Bank?
November 25th, 2009
2 comments
Archive
Archive for November, 2009
Thanksgiving — a Reason to Sell-ebrate
November 25th, 2009
No comments
I remember driving to Omaha to visit my family for Thanksgiving, staying overnight, and going Christmas shopping the next day. It’s not as bad as it sounds. The Black Friday mania hadn’t yet spread throughout the retail world.
At the time, stores still opened around 10:00 a.m., just like a normal Friday. Then some enterprising retailer somewhere decided to open at about 8:00 to catch people before they had a chance to go to the competitors.
Did Mechanics Bank Borrow The Wrong Branding Campaign?
November 23rd, 2009
3 comments
I’m a radio junkie of sorts. Turning on the local talk radio station is the first thing I do after getting up during the week. And the station stays on all day, even though I’m rarely listening to it. I’ve convinced myself that our cats enjoy hearing human voices throughout the day.
Delayed Reward Offers — Fad or Trend?
November 23rd, 2009
No comments
We know people are putting more money into savings accounts because of the economy. Citibank has an offer it’s circulating that tries to take advantage of this new mentality.
For opening a certain savings account and keeping a $1,000 minimum balance for three months, Citibank gives the customer a $25 bonus.
Hmmm. So, after I open the account it’s three months later before I get the bonus? No, wait. The fine print says the bank will deposit the money into my account “within 120 days from the end of the statement period in which you met the qualifying requirements.”
Gift Card Offer Is Repeated
November 20th, 2009
No comments
You can sometimes judge the effectiveness of an offer just by seeing it used over again. That’s the case of a gift card holiday self-mailer that originally appeared in my mailbox in 2006. A similar, updated version was delivered last week.
I wrote about the HairMasters salon self-mailer in August. Inside the small mail piece was a tipped-in plastic card worth $5.00. The new, larger version includes two punch-out cardstock “cards” worth $3.00 each.
A Confusing Checking Offer From Chase Bank
November 19th, 2009
No comments
“Good initiative, poor judgment!”
I heard this comment made many times during my three years in the Army during the late 1960s. As a result, I use it frequently when encountering a great idea that is poorly executed.
Marketing Cost vs. Promotional Value
November 18th, 2009
No comments
I see a lot of marketing campaigns that don’t take full advantage of all the sales techniques that could boost the success of their offers. Too often, the reason comes down to cost.
The businesses want the cheapest package possible. They haggle over pennies.
Getting customers to choose e-statements
November 17th, 2009
No comments
While financial firms look for new revenue streams, they’re also looking to cut costs. One obvious area for savings is statements.
Mailing what must be mailed (NSF notifications, late payments, etc.) with postcards instead of envelopes provides significant (up to 80%) savings and many financial firms are adopting this method.
E-statements provide even more savings by eliminating postal costs altogether. The cost benefit for the company is pretty straight-forward. Saving over a dollar every statement cycle on a customer adds up quickly.
Sorry, No Checking Account At Ally Bank
November 17th, 2009
2 comments
It finally dawned on me the other day that I can’t get a regular checking account at Ally Bank!
It’s All About Sharing — Ideas
November 16th, 2009
No comments
The year-end holiday season always brings out special community-oriented promotions and I’ve found another one you might be able to adapt and adopt for your own market.
This one generates hands-on participation by customers. It’s Lincoln, Nebraska’s Union Bank “Magic Moments” program. The bank will grant “special gifts” to ten individuals or families in the community from a pool of nominees submitted by customers on a special one-page form. The application is also available on the bank’s website.
Bank of America opts for clarity.
November 16th, 2009
1 comment
Bank of America had to take a survey to figure this out, but they got the message: Consumers don’t want to know about the lofty dreams a bank can supposedly help you make a reality. They want to know what products you have and how they help you save time and money!
No kidding!
The Purpose of Advertising Is Not to Showcase Creative
November 15th, 2009
No comments
Billboards, magazine and newspaper ads, and other marketing channels should not be used as a canvas for creative teams to display their creative genius.
Why Two Different Checking Accounts When One Will Do?
November 12th, 2009
No comments
What ever happened to the idea of SIMPLICITY?
With over 30+ years of retail bank marketing experience, I’m still bewildered why most banks and credit unions offer too many checking account choices.
Is That Clear?
November 12th, 2009
No comments
What a shocking headline: “Bank of America Pitches ‘Simple, Clear’ Banking.”
The headline ran across an Adweek article that said the giant financial institution, under government scrutiny after receiving government favors, is funding a $40 million ad campaign focusing on “simple, clear and direct” messages.
The article also said the “ad effort excludes financial lingo and other esoteric banking terms unknown to consumers.”
A Win for Savers
November 11th, 2009
No comments
People are saving more now. People like to win. Saving for a college education is important. Quality and reliability matter.
Combine these ingredients and the result is a promotion that encourages prospects to open a highly respected college savings plan, contribute to the account, and have the chance to win monthly cash prizes.
As you know, 529 savings plans allow savers to put aside money for future tuition and educational expenses in a tax-favored account. Recognized nationally as one of the best accounts of its kind, The College Savings Plan of Nebraska is running this special attention-getting promotion.
Prospecting at Non-Residential Branches
November 9th, 2009
No comments
Some of the toughest branch locations to promote are those in downtown areas. There are no residential neighborhoods nearby, and downtown office and store employees typically bank near home or along their daily drives. Some workers within walking distance might not notice your branch.
So how do you get your message to people in the vicinity of a downtown branch?
You Don’t Need a Reason to Celebrate
November 6th, 2009
No comments
Grand openings call for a celebration. You have a (mostly) new staff in a new office and you’re able to serve a new neighborhood. You need to tell new potential customers in the area about your location, so you advertise a grand opening.
It’s a no-brainer.
Time for Some P.R. Work
November 5th, 2009
No comments
The public trust in banks dropped from 69% in 2008 to 36% in 2009, a loss of 33 percentage points.
Of course, trust in every U.S. industry dropped over the same period, but the American public’s confidence in banking suffered the most — the runner-up being a 27 point one-year drop by the automotive industry.
I’m not trying to rub it in. After all, I’m here to help financial institutions recruit new customers. So if I bring up a statistic like the one above, I’d better have a suggestion to help improve the situation.
The Power of Exclusivity
November 4th, 2009
No comments
It’s extremely rare when you can use the emotional motivator of “exclusivity” to sell a banking product.
