Reader's guide.
The "Idea Bank" showcases outstanding examples of advertising and other marketing campaigns from financial institutions of all sizes and locations. The names of advertising and communications agencies are included where appropriate.Branding
A Puzzling Campaign
Institution: SpencerBANK, Spencer, Mass.
Asset size: $460 million
Agency: Davis Advertising, Worcester, Mass.
Life is full of puzzles. That was the theme of this campaign designed to modernize the brand without diluting the bank's established identity and reputation.
The campaign included print, online, out-of-home, radio and TV advertising, each drawing on the puzzle theme. Print and online ads used puzzle imagery, such as crossword puzzles and Rubik's cubes and featured the bank's products, services and rates plus photos of individuals, families and businesspeople.
The agency's 30-second TV spot, meanwhile, took viewers through a digitally--created maze as a voiceover talked about the challenges of purchasing a home. The maze opens into the solution--the bank--where mortgages and home-buying support are found.
The TV spot earned a Gold Award at the New England Financial Marketing Awards in the loan category for banks under $500 million in assets.
Mobile Banking
Encouraging More Mobile Banking Activity
Institution: Stoneham Bank, Stoneham, Mass.
Asset size: $482 million
Asset size: Pannos Marketing, Bedford, N.H.
StonehamBank was introducing a new banking platform and application. At the time, the usage was lower than that of its peer group with only 850 active users. The bank wanted to increase the number of active users and the usage rate.
The campaign targeted existing customers who had access to the mobile banking platform.
The objective was to give people the opportunity to try the mobile check deposit feature, bringing them in contact with other features and allowing them to see the benefits of the newly improved mobile app.
It was decided that all existing mobile banking customers (approximately 2,000) would be contacted with a variable data mailer that incorporated a perforation and $2 check that could be deposited by using the app.
Receiving bank approval to send out the $2 checks to customers was the greatest challenge.
The idea of sending customers a check as a means to incentive the usage of the mobile application was a unique strategy demonstrating that the bank was willing to invest money in order to make the customer experience more convenient.
Of the 2,000 mailers that were sent out, approximately 40 percent of the checks were cashed. By the sixth week of the campaign, a 65 percent increase was seen in the number of active users. There was also an overall increase in mobile banking adoption among existing checking account customers. The bank now has nearly 2,500 mobile banking customers with nearly 1,500 active users.
Showcase Your Outstanding Work!
Have you produced outstanding marketing campaigns that deserve recognition? One way to achieve that acknowledgement is to submit your work for publication in the "Idea Bank" department of ABA Bank Marketing and Sales magazine.
In each issue, "Idea Bank" publishes samples of marketing campaigns produced by financial services institutions around the nation. All financial institutions that belong to ABA or marketers who belong to the ABA Marketing Network, as well as their advertising and marketing agencies, are welcome to send submissions.
For more information or to submit marketing materials for possible publication in the "Idea Bank," go to www.aba.com/IdeaBank and download the submission form. Or contact Walt Albro at [email protected] or Telephone: (202) 663-5428.
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| Title Annotation: | IDEA BANK |
|---|---|
| Publication: | ABA Bank Marketing |
| Geographic Code: | 1USA |
| Date: | Oct 1, 2015 |
| Words: | 571 |
| Previous Article: | Selling business banking. |
| Next Article: | How banking will change as the internet grows more pervasive. |
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