When I read a report about a new ad campaign idea from Blockbuster, I thought it made a good example for financial services marketers.
You probably know, Blockbuster, the movie and game rental company, is having financial problems and may declare bankruptcy by the end of this month. Now, Blockbuster has discovered a great point of differentiation that separates it from its rivals Netflix and Redbox. Problem is, where will the money come from to advertise that advantage? That’s the Catch-22.
To quickly summarize, Blockbuster can stock new releases from three major movie production companies 28 days before its competitors. Advertisers call this USP, or a Unique Selling Proposition. Consumers who want to see the latest releases as quickly as possible should drive to a Blockbuster store or have a mail account.
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You read the headline and maybe you think this is a pitch for a rejuvenating beauty product, so what’s it doing in a financial services marketing blog?
Just teasing. The headline says the best way to reach young consumers may be by Direct Mail Marketing. That’s according to a recent survey.
With social media being the current rage and the observations that teens and twenty-somethings spend hundreds of minutes a day texting, tweeting, and surfing, you get the impression the only way to grab their attention is through a screen-shattering social media campaign.
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At first glance, the outer envelope looked like something from the state tax commission, but once I opened the Arbor Day Foundation package I was impressed.
I’m featuring this direct response mail package to show you how premium offers can get attention, generate enthusiasm, and, most importantly, spur people into action. This fund raising promotion takes a low-key approach to asking for contributions, yet the offers should start many prospects salivating and reaching for the checkbook.
The envelope is so packed with components that, to keep this post from turning into book chapter length, I’ll simply list them briefly so I can concentrate on the offers and how they work.
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Since the beginning of branch banking in America, the primary role of the neighborhood branch was transaction processing. Come the mid-1980s, this changed as banks and credit unions began pursuing contradictory goals as it relates to the role of branches. It started in the early 1970s, when the first ATMs were installed through the exterior walls so customers could make deposits and get cash without coming inside the branch. The move to keep customers out of the branches accelerated over the next two decades thanks largely to the Internet, online banking, and now mobile banking.
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Remember when the summer months were quiet times for financial services advertising?
Conventional thinking says people aren’t interested in their bank accounts during the summer, except to finance vacations. Spring is the period for home remodeling loans and home-buying. In autumn, it’s back-to-school loans. Cars are purchased in the spring or in the fourth quarter when consumers want model-year closeout deals.
No one promotes checking accounts in the summer. Supposedly, consumers won’t switch June through August.
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You hear the term SAS 70 tossed around. You know it’s a good thing to have, but what does it mean?
Recently, an independent CPA audit team completed a SAS 70 examination of ACTON Marketing and gave our company a SAS 70 Type II certification.
Up until I was involved with the process, I think my greatest exposure to SAS 70 was from the Dilbert cartoon strip. But obviously, it’s more important than that. I always caution marketers against using jargon in their communications, so I did some digging to find out more about SAS 70 and what it measures.
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When online banking and online bill pay were first introduced about a decade ago, financial institutions actively promoted the services. Today, I don’t see the push to sign up consumers. A recent survey shows a methodical promotion might be a good idea.
A press release titled “Online Bill Payment Now Mainstream…” reports on online consumer banking trends shown by comparing recent survey results with initial survey results from 2001.
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One of the new buzz terms thrown around since the financial downturn (a.k.a., recession) began is the “New Frugality.” What’s it mean and what’s it mean to financial services marketers?
Economic specialists, and others who simply have an opinion, use the New Frugality phrase to describe consumers’ attitude toward spending. People are cutting back on luxury items. Spending less on non-essentials. Waiting for bargains before buying.
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When it comes to banking, what’s important to you?
Which newspaper ad would interest you the most?
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