Some marketers and executives get excited about using themes for promotional campaigns. Here’s some advice if you find yourself with that type of project.
There are a few important ideas to keep in mind if you’re planning to use a theme.
- Make it appropriate for your product
- A theme shouldn’t negatively affect your financial institution
- Don’t overdo the theme
- If you choose to use one, stick with only one
Wonder which financial institutions use the most direct marketing? Wonder which marketing medium gets the best results?
The answers are found within a larger article by Target Marketing magazine based on the resources of the Who’s Mailing What collection of current mail samples, as well as statistics compiled by the Direct Marketing Association.
First, let’s look at Target Marketing’s list of Top 10 Financial Institutions that are using direct mail marketing. You probably won’t be surprised by the list. Read more…
Is direct mail still relevant for banks and credit unions?
What proof do I have that it remains relevant?
Chase continues mailing its self-mailer promoting checking and savings accounts to millions of consumers across the country.
If direct mail wasn’t working for Chase, it would cease producing and sending these mailers.
As a consumer, I’ve quickly grown tired of hearing these four words. Perhaps you have too.
What are they?
Here’s a hint: They were thrust upon us by the social media crowd…specifically Facebook.
The idea for the headline comes from something originally said by the legendary investor Sir John Templeton.
As the last of the top 20 banks in America to drop free checking, PNC’s gift to community banks and credit unions shouldn’t be ignored or go unused.
You might call it the gift that keeps on giving.
In last Thursday’s blog I provided the salient details about PNC’s recent announcement that it was throwing free checking customers under the bus – just not immediately.
If you hear rumors that your bank or credit union might change its name or logo, as a marketing professional, you should do all you can to stop the idea before it gains momentum.
Okay, so I know that’s nearly impossible. There are times when a change is necessary. A merger, for example. But often, the change doesn’t play out well.
Evidence of this was in the news again when American Airlines revealed its new logo. Read more…
I think we can all agree up front that today consumer banking finds itself in the midst of a rapidly changing banking environment. I believe it is safe to say we are in the midst of historic changes…changes that will ultimately alter the face of consumer banking.
In fact, the survival of many community banks and credit unions is at stake as the industry moves towards consolidation.
Choosing to ignore social media will no longer be an option for banks and credit unions thanks to “suggestions” from the Federal Financial Institutions Examination Council (FFIEC).
Among these new suggestions, banks and credit unions must have a social media plan, and train their staffs to handle the plan, even if their institution doesn’t engage in social media. (Check all the links below.)
It’s best to get tips from an expert, so I’m going to quote, with permission, from a blog post of an ACTON Marketing business partner company, Social Assurance. The company offers social media services to financial institutions.
Almost every time I go to follow a new bank on LinkedIn, I’m disappointed at the lack of engagement and presence of their staff, especially their business development staff and investment folks.
It may be fun to believe that business still happens primarily on the golf course and at lunch but the numbers show that business is happening online…all the time…without you. Here’s why a lack of involvement on LinkedIn should scare a banker:
Here’s something you rarely find in the mail — or anywhere else, it seems.
Calendar cover photo
It’s a complimentary wall calendar from the Easter Seals charitable organization, delivered to my mailbox in November.
It’s free. It doesn’t take much of your time. You get information that can help you and your bank or credit union.
Sounds like a pretty good deal.
There’s a new webinar for bank and credit union marketers called “Merge Traditional Marketing with Social Media for 2013.” It includes key points like these:
- Why the merger of traditional marketing and social media is important for 2013
- How to create a workable calendar for both traditional marketing and social media
- Ideas that help you build your own blended marketing program
What are you doing to develop your professional marketing career?
Typically, when you read my blog posts, you see me tell you how to improve your marketing campaigns, give you examples of marketing ideas you can adopt, or I comment on events in the marketing world.
But today, I’m addressing your position as a professional marketer.
There’s a big conference coming soon that offers you a chance to learn more about important issues of today’s banking industry.
Retail Banking Excellence USA 2012 will be held September 27 and 28 in New York. There’s still time to register.
Here’s a sample of the scheduled topics. Read more…
Some of you are probably too young to remember a book called How to Lie with Statistics. I still have the copy I bought when I was in college. The title of the book popped into my head when I read two news stories, both based on the same Direct Marketing Association report.
The DMA analyzed data collected from over 29 billion promotional emails and two billion online ads. The organization compared the response rates from those promotions to response rates already gathered for direct mail and telemarketing.
I’m not sure when it hit me, but at some point in my long bank marketing career it occurred to me that sometimes the bank president, and most likely other members of the senior management team, are stricken by the cocktail party disease.
This may, or may not, include the senior marketing person.
You can have the most sought-after product in the market but unless you aggressively promote it on an ongoing basis, it’s just another product.
As an avid follower of bank and credit union marketing, I’ve come to the conclusion that most marketers believe the mere presence of the Free Checking account is sufficient to grow checking account market share.
As a result, these banks and credit unions fail to put adequate – if any – marketing effort behind their FREE Checking accounts.
Recently, I read a blog post written by a social media promoter where he bashed direct mail marketing and the USPS. The backlash to his post was impressive. Many, many comments from marketers and business owners alike criticized the writer. They said they know direct mail marketing works and they gave reasons why.
One business owner raised the 40-40-20 Rule as evidence of the importance of list work to counter the blogger’s contention that mail doesn’t produce results.
We’ve all heard the expression “It’s like throwing a deck chair off the Titanic.” Well, that’s how I felt earlier today upon reaching the teller window at my local credit union.
Glancing around while waiting for the teller to triple-check my ID, my eyes were drawn to a nearby brochure rack. The bold words “Zero,” “Zip,” and “Zilch” quickly caught my attention. They seemed very unusual words to use for promoting a banking product.
A closer look provided the reason why – FREE CHECKING.
I’ve yet to find an answer for a marketing question that’s been nagging me for the past couple of years.
Why would any business, banks and credit unions included, cease using the traditional mail channel that delivers proven results in order to climb aboard the yet-to-be-proven social media bandwagon?
At a minimum, you’d think these marketers would stick with what works as an insurance policy while reallocating fewer dollars to testing social media. Totally abandoning one channel in order to fund a relatively new channel just seems like a bad marketing decision.
Recently, I wrote a series of product promotion posts for the ACTON Marketing Twitter site. These will be posted over a period of time and interspersed with information other members of our staff gather, write and post.
A few days earlier, I talked with clients who are updating their company’s website. The company has Facebook and Twitter accounts, but those fell into disuse. After changes in the staff, the responsibility for updating the social media sites hadn’t been reassigned to anyone.