The classic promotion for a bank is a toaster with a new account. We actually had a bank client give away toasters several years ago as part of a promotion built around the concept of “old fashioned banking”. Many banks have used other types of promotions to get new accounts, giving away luggage, cookware and even 32″ televisions. But in this economy and with all of the negatives surrounding the banking industry giving away televisions and other large items seems excessive.
The number one question that needs to be asked is, “What are people looking for in a bank?” The simple answer would seem to be stability. People want to know that there money is safe and that the people make decisions at the bank are making good decisions. The next question is how to market stability and good decision making in a unique way that gives not only current customers but potential customers confidence about their banking choice?
Access 1st Capital Bank is a new bank in Denton, Texas and with a branch office in Dallas, Texas. Access 1st Capital Bank opened its doors in October 2007 and has seen consistent growth since that time despite the downturn in the economy during that time. A recent Access 1st Capital Bank promotion was titled “The Coffee and the Answers are Free”. It was featured on the cover in a recent bank newsletter that was mailed to over 8,000 households in the Denton, Texas area. Inside the newsletter was an op-ed piece written by bank president Randy Robinson which originally ran in the Denton Record-Chronicle. The piece addressed issues of the local economy and the fact that community banks such as Access 1st Capital Bank are healthy, strong and important assets in every community. (Randy’s made the comparison of community banks and the Bailey Savings and Loan in “It’s a Wonderful Life”)
One of the elements of the newsletter is a simple invitation to stop by for a free cup of coffee. It is not a gimmick or a come on with strings attached. Coffee is a metaphor for stability. You don’t drink coffee quickly, you sip, you savor, you think. In addition to inviting people to stop by a free cup of coffee, Access 1st Capital Bank is also giving away a coffee mug and a package of premium roast “Access 1st Capital Bank Special Blend’. Both the coffee cup and the coffee package have the bank name and logo and were purchased on line at www.Ad-OnProducts.com and has offices in Denton, Texas and Springfield, Missouri.
The message is a clear simple statement about the stability of the bank and about the decision making process at the bank. Ultimately that Access 1st Capital Bank does things right with no gimmicks. The result of the campaign is that new clients are moving to the bank leaving the “Big Banks”. New customers are telling the bank that they see community banks such as Access 1st Capital Bank as the safe place for their money. Big Banks require government bailouts and take chances. Community banks are transparent in how they operate. This is a powerful message and response from something as simple a coffee.
The Crouch Group is a creative source for fresh ideas about marketing and advertising featuring an outstanding group of talents graphic designers, video producers and advertisng professionals.
Attached are copies of the direct mail newsletter, pictures of the mugs and coffee packet and a link to ordering information for coffee mugs and customized premium roast coffee.
