In TFCU’s summer promotion, Get Going, the credit union is giving away a pair of Buddy Scooters (with helmets), and each of its 21 branches will award someone a $100 gas card. The campaign is built around a push on toy loans, including auto, boat, RV and motorcycle loans.

One really interesting aspect of this promotion is the “It’s On Us” perks TFCU surprises people with. The credit union’s business development rep pre-pays $200-$300 for coffees at local cafés or fountain drinks at Sonic Drive Thrus near TFUC branches. Customers making purchases at peak times are told, “Oh, it’s covered” while the clerk hands them an “It’s On Us” card with TFCU messaging (see below).

The promotion kicked off with a live radio remote broadcast at one of TFCU’s branches. The radio station hosting the even had pizza, music and other activities.

This is the second summer Tinker Federal Credit Union has done the Get Going promotion.

The promotion runs May 1 through June 30. Anyone 18 or older can register.

TFCU, based in Oklahoma, has around $1.9 billion in assets and over 200,000 members.

Tip of the Hat: To Third Degree Advertising, for developing a multi-channel, integrated marketing campaign with special attention to the creative details.

“It’s On Us” Cards

TFCU often uses to reach non-members in close proximity to the branches at coffee shops or Sonic drive-thrus, surprising customers by having prepaid for their drinks. The piece is a little bigger than a coaster and made from really thick cardstock.

In-Branch Merchandising

Most of the TFCU branches are able to display a real scooter.
Notice the high-quality, freestanding retail display.

Chrome & Metal Extensions

The scooter rear-view mirror extensions are made from real metal bars that reflect the sun when you drive by.

Floor Clings

Placed in the entry ways and near teller areas.

Window Graphics

TFCU commissioned some whimsical window paintings for their front doors in the spirit of the scooter promo.

Usually known for its understated and reserved approach to marketing, USAA is going on the attack in its latest ad campaign, reportedly the largest ever for the member-based financial organization.

The campaign is built around the what USAA isn’t and what it didn’t do: no bailouts, no greedy Wall Street bankers, etc.

“They charged you $38 billion in fees, and some still needed a bailout,” reads one ad. “We believe the only banks that can claim financial stability are ones like USAA that didn’t take a dime in TARP funds,” reads another.

USAA, whose membership is closed to military families, is running the campaign in cities with significant military populations. The campaign invites military men and women who are not yet members to, “Try USAA.” The basic call to action is used as a common refrain in each of the ads.

The campaign — estimated at $25 million — includes print advertising, billboards, radio advertising, direct mail, email and online marketing, and will run through early November.

One unique component of the campaign is coffee sleeves with messages such as: “What’s more bitter, a $3 ATM fee or a $3 cappuccino? Try USAA Bank.” They will be distributed by independent coffee shops in all of the USAA’s major markets, according to an article in MarketingDaily.

The message USAA intends to send is, “We are responsible.” But for some people, it might come across as, “Hey, at least we didn’t screw up.” That might leave them wondering, “So what? Big deal? You didn’t make the same reckless mistakes as others.”

Reality Checks:

• People aren’t going to heap praises on companies just because they didn’t screw up.
• Everyone has been bashing big banks for months. The “We’re-Not-Like-Wall-Street” space has gotten really crowded in the last few months. Congress. The media. Even local delis and coffee shops are piling on. Besides, if you don’t have a corporate jet, you’re just like 99.9% of all the other companies out there.

Unlike most banks around the world, USAA Federal Savings Bank returned a healthy after-tax profit of $188 million in 2008. USAA’s president and CEO Joe Robles said USAA continues to be profitable in 2009. “We did not take a cent of government bailout money,” he said an email to members. “In fact, we returned $857 million to our members last year.”

$368 million of it went to members through ATM surcharge rebates, rebates for buying or selling a home through USAA, credit and debit card rewards and home-equity loan closing costs paid by USAA.

The campaign is the work of Interpublic Group’s Campbell-Ewald, who won the USAA account earlier this year. The agency also handles ad responsibilities for the U.S. Navy account.

Key Takeaway: Juxtapositions can be immensely powerful (think about the Mac vs. PC ads from Apple), but you will only get so far by defining what you aren’t. The rules of advertising still apply and there has to be real consumer benefits. Simply saying “we’re not like them” doesn’t cut it. As Bryan Clagett, a branding and marketing consultant, recently put it, “Sure, safety and soundness are important, but there needs to be an even greater value proposition.”

“Chuck & Leroy”

Meet Chuck and Leroy, two squirrels going nuts for First Tech Credit Union in a new brand advertising campaign called First Tech Fans.

The credit union worked up quite a backstory on their two little spokesquirrels. Chuck is a Western Gray Squirrel who enjoys making smart financial decisions. That’s why he he’s a member of First Tech Credit Union.

“Squirrels are really good at planning, always prepared and work tirelessly to achieve their goals.”
– Sean Blixseth,
First Tech agency R/West

Leroy is Chuck’s goofy but loveable “best friend forever,” as the credit union puts it. Chuck met Leroy about a year ago while both were out collecting nuts. Leroy enjoys lounging in his hammock and naming different types of nuts, but unlike Chuck, he doesn’t always make the smartest choices when it comes to planning for the future. Leroy is not a First Tech member…yet.

First Tech introduces Chuck and Leroy in a musical TV spot. The jingle is a folksy, down-home, banjo-picking narrative (it’s along the lines of The Beverly Hillbillies theme song). The lyrics present Chuck, a member of First Tech, as the smart squirrel, and Leroy as the dumb one:

Chuck. Leroy.
These squirrels will tell a story
of friends with different views,
financial don’ts and do’s.
One works out for little gain,
while the other tends to use his brain.
Chuck’s a member of First Tech
while Leroy risks his neck.
They’ll continue on
Just workin’ and havin’ fun.
But Chuck has the help of First Tech Credit Union.

“We’re hoping these quirky characters will demonstrate First Tech’s commitment to being an advocate for members,” according to a spokesperson with the credit union’s ad agency.

First Tech is also supporting the campaign with a microsite, firsttechfans.com, as well as billboards, radio spots and online advertising. All ads are running throughout First Tech’s major regions, which includes Portland, Salem and Lane County in Oregon and the Seattle, Washington area.

Future plans include expanding the microsite with Web 2.0 features that were described to The Financial Brand as “social media-esque.”

“You might start to see the Squirrels pop up on Twitter and Facebook from time to time,” the spokesperson said.

Based in Beaverton, Oregon, First Tech Credit Union has over 157,000 members and more than $2 billion in assets.

The campaign was developed by R/West. Chuck and Leroy were brought to life with help from Hidden City, a film production company, and Hive, an animation studio.

First Tech Fans
The microsite at firsttechfans.com where you can watch the launch TV spot, play three different Flash games and get tips on investing or buying a home.

Billboard

“Squirrel Chateau”
The squirrels start talking in this TV spot for home loans.
Leroy is a dumb squirrel who buys a bird’s nest.
Meanwhile, Chuck has bought a squirrel chateau with the help of First Tech.

FirstBank in Denver is getting serious about going after small business customers. The bank is running free 14′ x 48′ billboards for some of its smallest banking customers — babysitters, piano teachers and wedding singers.

The message FirstBank wants to get across: “We care about small business.”

The billboards include real, working phone numbers. But for liability reasons, FirstBank didn’t want to put actual names and numbers of individual babysitters up on public billboards. So what happens when you call the number on the billboard (go ahead, try it)? You get a recording from that person, saying they are all booked up, but please call so-and-so instead. Then you get the real number for a real business.

The referrals for businesses are rotated, so FirstBank can spread its love around to more customers. “For example, they might have seven babysitter names they give out,” a spokesman told The Financial Brand.

“After a story about the campaign ran on a local television station, we were inundated with calls from customers saying, ‘I want to be on the next billboard,’” Jonathan Schoenberg, the creative director at FirstBank’s ad agency, told the NY Times.

Starting early this summer, FirstBank will offer customers a “DotFree” small business banking package, including small business checking and savings, Internet Cash Management and Desktop Teller.

As a promotional aspect to the “DotFree” package, FirstBank will be giving customers free website development (via SquareSpace.com), free hosting and free online banner. Small business customers’ banner ads will rotate on sites like Forbes and Yahoo along with FirstBank’s own “We care about your small business” message.

OrangePages

FirstBank’s OrangePages will be a microsite that functions as a stripped-down version of Yelp (sorry, FirstBank’s site isn’t operational yet). When it goes live this summer, it will essentially be a directory of the FirstBank small businesses that choose to take part. Participating businesses can choose to provide a special offer of coupon to FirstBank customers — e.g., “Show your FirstBank card for 15% off an oil change.”

OrangePages
Not scheduled to be operational until later this summer, FirstBank’s OrangePages
will be a free local small business directory. Businesses can customize their listings
and add special offers. The URL will likely be either http://orange.firstbank.com/ or
http://orange.efirstbank.com/.

Customizable Listing within Orange Pages
Participating businesses will be able to customize their design theme in under 5 minutes.

Because the program is still in development, number of listed businesses is unknown, and whether they will all be FirstBank customers is undetermined.

The campaign is by TDA Advertising & Design out of Boulder. This isn’t the first time The Financial Brand has written about TDA’s work for FirstBank. Last year, there were two articles, one about a clever campaign focused on the bank’s online security, and the other about a cheeky holiday promotion.

Free Online Banner Advertising
Small business customers’ banner ads will rotate along with a FirstBank message on sites like
Forbes, Yahoo and efirstbank.com. Clicking on any banner will take you to the OrangePages directory.

“Free” Magazine Advertising (joke)
This full page FirstBank ad will run in local business publications. It has white space where you can write an ad for your business, then leave the magazine in a waiting room, coffee shop or other public place.

Anyone with a dry sense of humor will love the “I Love Fees” campaign from Coast Capital Savings up in British Columbia. The tongue-in-cheek promotion makes fun of Canada’s big five banks for charging billions in fees every year.

The campaign mocks a genre of ads that feature cheesy, cliché, slice-of-life moments. You know the ones — chock full of feel-good testimonials that are all nauseatingly contrived. The overall tone is wry, sardonic and dripping with sarcasm. And it’s all terribly funny. The truth always serves as the best source of humor.

The campaign includes TV commercials, print ads, out-of-home advertising and a microsite (all shown below). The microsite features videos, a simple calculator and even a store where you can buy cheeky “I Love Fees” schwag.

The Financial Brand wrote earlier about this campaign when it kicked off with a giant, 8×10 foot greeting card to banks “thanking” them for the billions in fees they charge to Canadians every year.

What makes this a particularly smart strategy is how Coast Capital is laying claim to the “fee” issue in Canada. They are trying to “own” the subject of “fees” by pushing a competitive advantage and promoting their “Free Chequing, Free Debit and More” account. They are aligning themselves with a critical consumer issue, and taking a stand for one thing: fees. It’s smart marketing… and good branding.

An interesting question concerning social media ethics

One component of the promotion raises an interesting ethical question, one that many online marketers have certainly wrestled with before. At the campaign’s microsite, members of the public are encouraged to upload their own videos explaining why they (sarcastically) “love fees.” Of the 20 videos uploaded, more than half come from employees of Coast Capital’s ad agency, Rethink Communications. Here are three examples (sorry, you have to go to the microsite to see the actual videos):

Testimonial Videos by Rethink Employees
These are three Rethink Communications employees who uploaded submissions.
The black-and-white action figures come from Rethink’s company website.

Rethink invited any of its 60+ employees to consider uploading a submission to the “I Love Fees” site. Around a dozen employees grabbed their cameras and went to work. The agency didn’t script or professionally produce any of the videos. There was no bigtime copywriter or film crew helping these folks out behind the scenes.

According to Rethink, the employee submissions reflect the genuine feelings and creativity of each individual, and no one was pressured into participating.

“These are people who voluntarily chose to express themselves,” Ailsa Brown, Coast Capital’s Account Director at Rethink told The Financial Brand. “They are consumers of financial services like the rest of us. They’re upset about all the fees charged by Canada’s big banks, and they felt like this was a fun, lighthearted way to voice their opinions.”

It’s understandable why an agency/client would want to “seed” their microsite with a few pre-populated videos. The motives are pretty obvious. No one wants to have an online marketing campaign that looks bare and “uncool” when it’s launched. And providing a few sample videos can be helpful and instructive for those considering uploading something of their own [video, picture, essay, whatever].

The hitch is that Coast Capital doesn’t disclose the relationship between their credit union and the people offering their tongue-in-cheek “testimonials.” There are some social media purists who would argue that this violates core principles of the Web 2.0 world — namely “authenticity” and “transparency.”

Rethink’s Brown said neither the agency or Coast Capital had any reservations about using agency personnel to jump start the microsite’s video library. Rethink says there was no cause for concern because the employee submissions were voluntary, unscripted and reflected the perspectives of real financial consumers.

What do you think? Is this okay? Or does it cross the vague and oft-unwritten ethical boundaries of online/social media marketing? Take the poll, and/or share your point of view in the comments below.

Note About the Poll: You can select all the options that reflect your point of view.

 Loading ...

“I Love Fees” Store

Print Advertising

“Eyes Wide Open”
SCRIPT - Woman #1: “Banking fees are like nice little surprises on every statement. And who doesn’t like surprises.” Woman #2 “I get a lot for my banking fees. Like deposit envelopes.” Woman #3: “The banking fees are here!” Mom: “Fees are great. Because when I buy something, I want to pay full price, plus a little bit more.” Son: “I want to pay fees too.” Coast Capital Teller: “Nobody really likes fees. So stop paying them. With The Free Chequing, Free Debit and More account. Only at Coast Capital Savings.”

“Whistling Kisses”
SCRIPT - Woman: “Yeah, I’m okay with banking fees. I mean, you tip your waiter. Why not tip your bank?” Man: “Fees are like paying rent on my own money. I like that.” Wife: “We love fees.” Husband: “They’re a constant reminder that we have less money than we think.” Retiree: “Finding all those bank fees on my statement keeps my mind active. And at my age, that’s important.” Coast Capital Teller: “Nobody really likes fees. So stop paying them. With The Free Chequing, Free and More account. Only at Coast Capital Savings.”

Out-of-Home Advertising

To promote its new contactless payment technology, Barclaycard made a TV spot featuring a fantasy water slide. Conceived by creative agency Bartle Bogle Hegarty and shot in São Paulo, the TV spot features a man leaving work via a slide and passing various contactless payment sites on his way home.

According to a press release, the TV spot became an internet sensation on YouTube, with over 1.3 million views and a further 60,000 views for the ‘Making of…’ video.

For those who aren’t familiar, contactless cards allow people to make payments quickly and securely, saving shoppers the hassle of paying with cash or entering PIN codes into terminals. A secure sensor at the checkout counter senses an RFID chip on a contactless card, then immediately withdraws the purchase total.

The water slide metaphor works well as the campaign’s central creative device. It suggests using a new, potentially scary technology is actually fun and fast.

To extend the promotion, Barclaycard came up with a YouTube contest challenging people to make a water slide video of their own. The contest wrapped on April 5.

The winning video was a spoof of an 8-bit video game from the 80s. All of the artwork for 8-Bit Water Slide was built and animated in Flash, then printed and cut out and reanimated in real life.

The winning entry has been criticized as being an entertaining display of animation but not the wildly creative “water slide concept” called for in the contest.

The winner received a “once in a lifetime trip” around the world to the five coolest water slides ever built.

Key Takeaway: If you’re going to run a contest seeking User-Generated Content, this is a good way to go about it. Barclaycard set the strategy and established creative guidelines, not the contestants. You risk making a big mistake — one you might really regret — if you start handing over strategic decisions to the general public. Barclaycard gave people the basic framework, then asked people to take the idea and run with it. What Barclaycard didn’t do is ask folks to “submit creative ad ideas for a new contactless payment card.” The best brands are based on strategy and built very deliberately, not through a hodge-podge collection of various polls, drawings and contests.

Barclaycard’s campaign included a Flash-based game supporting the campaign.

This Flash-based game is a creative extension of the overall promotion. Unfortunately, the game itself is only so-so. There is a lone, solitary “level” that takes a little as 5 seconds to solve, giving the game almost zero replay value and greatly diminishing its viral quotient.

Earlier this year, The Financial Brand rated and reviewed other Flash-based games from financial institutions. Barclaycard’s Waterslide game would have got two stars out of five. The graphics and concept are good, but the game designers stopped too soon (or were cut short by budgetary constraints). There were unrealized opportunities to make the game much more cool, challenging and fun.

More proof that PR is overpowering financial advertising messages comes from — of all places — Nielsen, the TV ratings people. Understandably and quite predictably, Nielsen set out to prove that financial institutions would benefit from more advertising.

Their theory was that financial institutions that do not advertise are risking the perception that they have failed or are failing. Their conclusion: “Consumers are more likely to have confidence in financial brands if they see ads for them during the economic downturn.”

Go figure…

Despite the headline they slapped on their research, “Ads Raise Confidence in Ailing Financial Brands,” their findings suggest essentially the opposite.

When asked what factors would increase confidence in the safety and soundness of their financial institution, respondents cited:

• Reading positive stories in the press about that institution (44%)
• Seeing regular advertising for that institution (25%)
• Receiving regular mail or email offers from that institution (25%)
• Regularly seeing internet offers/advertising from that institution (21%)

It looks like PR and positive publicity are about twice as effective as advertising.

Nielsen draws another interesting conclusion from their research. The study found that “55% of consumers who say they had seen more advertising for their financial institution reported having ‘complete confidence’ in the financial health and soundness of their financial company, while only 18% said they had ‘little or no confidence.’”

The truth is that people are hyper-sensitive to news about financial institutions right now. They are tuned-in. Whereas they may have never noticed an ad from their financial institution(s) before, they now pay attention with keen interest. “What are they saying?” This applies to all media, marketing and communications channels — not just advertising.

Richard Khaleel, an EVP at Nielsen, summed it up this way: “‘Out of sight’ can mean ‘out of business.’ The current economic climate makes it more important than ever for financial institutions to bolster confidence.”

True. But does that mean advertising is the way to go about it?

Key Takeaways:

• People crave more communication from financial institutions, but you should think twice before applying the arguably self-serving advice Nielsen is offering.
• If you think advertising is the answer, then advertising better be your problem.
• People have always responded to ads with skepticism and incredulity. Common sense should tell you that — right now — ads from financial insitutions are lacking in credibilty as much as they ever have.
• PR has always overshadowed ads in terms of credibility. But now, it’s more true than it ever was.

Bottom Line: Crank up your PR machine.

Last week, The Financial Brand wrote about how the FDIC and the NCUA are cracking down on financial institutions that attack the safety or soundness of any financial institution (or category of financial institutions). Their fear is that such ads might trigger an unwarranted run on deposits.

So how will federal regulators feel about these clever and attractive ads from Barron & Company for North Coast Credit Union?

These ads clearly ride the line of what federal regulators are labeling “acceptable.” There could be trouble, specifically with copy suggesting that North Coast is “safe” while “your bank is giving you that sinking feeling.” Or that any bank might be taking a “nose dive.”

Key Question: If the NCUA censors these ads, do you think they’ve gone too far?

Bottom Line: North Coast Credit Union is going to get mileage out of these ads one way or another. These days, you almost hope that the FDIC or NCUA tells you to pull your ads because you can milk it for a mountain of PR. Local news outlets will be happy to report about a financial institution that’s “so safe and sound, the Feds are telling them to be careful with their marketing.” And the best part is that neither the NCUA nor FDIC can tell a publication (including this one) that it can’t reprint the ads as part of the story.

“Intentionally left bank,” is the only thing Seattle Metro Credit Union’s billboard says.
How many financial institutions run billboards that look this uncluttered?
(Note: This is actually a full-color photo. That’s what Seattle looks like in winter.)

Seattle Metro Credit Union is running a simple-yet-clever brand-building ad campaign, Intentionally Left Bank, that twists popular idioms such as “fill in the blank” into tongue-in-cheek expressions about lousy banking relationships.

The campaign is designed to complement the credit union’s “7 Principles,” a philosophy built around the idea that a financial institution doesn’t have to be self-serving.

The campaign’s media strategy relies heavily on outdoor. Eight billboards will rotate in four-week cycles during the first and second quarter. Ads will also run on the sides of 16 Metro busses. Full-page ads will appear in Seattle Metropolitan magazine, The Stranger and Conscious Choice magazine over the same period. T-shirts are coming next.

All-in-all, this is a fairly sizeable campaign for a credit union with just over $500 million in assets.

“Fill in the Bank”

“Heart” will start running next week, right in time for Valentine’s Day.

While the ads themselves don’t ask for people to share stories about their bank breakups — there isn’t even a web address on one billboard — the open comment section on the credit union’s website was created for that purpose. So far, the credit union’s received 24 comments, including pithy anecdotes about people’s failed banking relationships.

Some people stopped by just to comment on the campaign’s creativity. One person called the campaign “witty and smart,” while another declared, “It’s corny and I LOVE it!”

All the work on the campaign including concept and design was done by Seattle Metro’s in-house marketing group. “I’m really proud of our team,” said Jill Vicente, CMO and VP/ Seattle Metropolitan Credit Union.

“Wrapping the ‘7 Principles’ around our credit union - both internally and externally - has been a huge task,” Vicente told The Financial Brand. “It feels good to see it evolving with each project.”

Seattle Metro’s last promotion garnered mounds of media coverage after the credit union announced it was giving away free money.

“A bank running advertising? That’s absurd!”

As ridiculous as it may sound, there was indeed a time when banks were afraid of advertising. This article from 1905 suggests banks were actually prohibited from advertising. It was against their “code of ethics,” or something like that. It seems hard to believe, doesn’t it?

The article reported that banks who advertised grew deposits by 22% while those that didn’t lost 7%. Why did the newspaper run a story about this? Because advertising was new and unfamiliar — especially for savings accounts — and this was news. People — especially banks — looked at advertising with skepticism, uncertainty and even fear.

Sound familiar? Sound like anything banks are wrestling with today?

(Hint: social media, blogs, Twitter, etc.)

How long did it take before advertising was accepted as a normal part of doing business? These days, you can expect new technologies and new media to be adopted in a fraction of that time.

Key Takeaway: All ideas are scary…at first. But new ideas take hold fast, and that can leave many behind.

Did you get a lame gift for Christmas this year? If you got a phony jar of homemade jam, a fake star adoption certificate, or a cheap computer printout of a seascape, you can thank FirstBank.

The bank’s holiday-themed campaign offered cheapskate gift ideas to mall shoppers in three states: Colorado, California and Arizona. People were encouraged to take pictures of the bank’s posters with their cell phones, then print the images out at home to make ultra-cheap holiday gifts.

The tongue-in-cheek brand awareness and image campaign bears the theme, “We’re here to help you save.”

Earlier this year, First Bank ran a campaign about “Secure Online Banking.”

FirstBank is Colorado’s largest locally-owned bank, with assets of $8 billion and additional locations in California and Arizona.

Agency: TDA Advertising & Design

Click on images to enlarge.

“What we tried to do is replicate the surprise and delight tactics that happen within each TD Bank store.”
– Greg Siano,
EVP/Tierney Communications

After a few naming hiccups earlier in the marriage, TD Banknorth and Commerce Bank have just christened their first major branding campaign under the name TD Bank.

The campaign is built around Commerce Bank’s slogan, “America’s Most Convenient Bank,” something it had been using for years. TD Banknorth decided to retain the Commerce slogan post-merger.

A launch promo, running through this month, expresses the “convenience” theme by providing over a million free services to those ranging from Connecticut to Florida.

Some will win a personal chef, chauffeur or house cleaner in the “At Your Convenience” sweepstakes. In guerrilla “Random Acts of Convenience,” thousands of people will be handed a free cup of coffee or an umbrella on a rainy day, while mall shoppers, from Thanksgiving to Christmas, will receive free gift wrapping, gift consulting, and premium shopping bags.

The “Random Acts of Convenience” guerrilla launch includes:

• Street or mall “Convenience Crews” will give away 20,000 umbrellas on rainy days in NYC and Philadelphia
• 25,000 cups of coffee in NYC and Philadelphia
• 150,000 premium shopping bags at 22 malls
• Free gift wrapping for all at 22 malls (11/28-12/24)
• Free gift consulting for all at 22 malls (11/28-12/24)

TD Bank will also be partnering with over a thousand pizza parlors and dry cleaners to offer “Convenience Surprises,” pies and laundry to your door — at no charge.

“We tried to explore things that were convenient,” a representative with TD Bank’s ad agency said. “We’re doing anything that makes people’s lives more convenient.”

Brand ads in newspaper and outdoor will concurrently emphasize TD conveniences like seven-day banking, extended hours, free coin counting, free lollipops and doggie treats. TD has ads dominating New York’s Grand Central Station and Philadelphia’s 30th St. Station.

Advertising media includes:

• 8,400 spots featuring Regis Philbin and Kelly Ripa
• 3,900 spots promoting the “At Your Convenience” sweepstakes
• 1,500 outdoor units, including highway, urban, phone kiosk, and bus shelters
• 220 full-page or page-dominant newspaper insertions

“Regis & Kelly”
Initial brand advertising TV and radio features a nervous Regis Philbin struggling to cope with change, and an unperturbed Kelly Ripa. The bank is running 8,400 TV and 9.000 radio :60s of the “Regis & Kelly” spots.

The campaign is the first for TD Bank produced by Tierney Communications out of Philadelphia.

Tierney Communications started as Commerce Bank’s agency when it had just 55 locations, twelve years ago. At the time of the merger there were 575. Tierney Communications, Philadelphia, part of the global Interpublic network, is a full-service advertising and public relations agency.

The brand campaign will be ongoing.

“Convenience Surprise” Retail Partnerships
400 parlors will give away 20,000 pizzas in special gift boxes. Free dry cleaning and delivery will come from 620 dry cleaners.

“At Your Convenience” Sweepstakes
Prizes you can win for a full week: personal chef, personal limo, groceries (including delivery), dry cleaning (including delivery), and house cleaning.

Online “TD Bank Theater”
A JibJab-style interpretation of the “Regis & Kelly” spot.

“We are pleased that we have been selected to participate in this voluntary program.”
– D. Michael Jones
President and CEO
Banner Corporation

Recently, Banner Bank in the Pacific Northwest got an infusion of capital through the Troubled Asset Relief Program (TARP). The U.S. Treasury bought $124 million of Banner’s stock through the government’s Capital Purchase Program.

“We are pleased that we have been selected to participate in this voluntary program,” said D. Michael Jones, President and CEO/Banner in a press release.

“The additional capital will enhance our capacity to support the communities we serve through expanded lending activities and economic development,” he continued. “This capital will also add flexibility in considering strategic opportunities that likely will be available to us as the financial services industry continues to consolidate.”

The preferred stock will pay a 5% dividend for the first five years, after which the rate will increase to 9%.

At the time of the deal, Banner was “well-capitalized” under regulatory guidelines. The TARP purchase lifts Banner’s Tier 1 Leverage Capital Ratio to approximately 11.25% (up from 8.86%), and its Total Risk Based Capital Ratio to approximately 13.90% (up from 11%).

Banner Bank has $4.7 billion in assets an operates two commercial banks in Washington, Oregon and Idaho.

Here’s how the bank spun the story in a recent ad. What do you think? More importantly, how do you think consumers will react?

This ad from Banner Bank ran in Kirkland Reporter, December 3, 2008.

Nielsen just released its ad spending data comparing the first three quarters of 2008 to 2007. In the financial industry, advertisers have already made significant cuts, with presumably more to come in 2009.

A sharp decrease in advertising spending by mortgage and loan sectors led a 10% slide in spending across the entire financial services industry so far this year. Mortgage and loan companies have spent 62% less — or $778 million –  on advertising during the first three quarters of 2008, compared with the same time period last year.

Overall, ad spending by financial services companies dropped from $5.9 billion in Q1-Q3 2007 to $5.3 billion through September of this year. (Note: Nielsen’s data excludes outdoor and B2B magazine ad spending.)

Traditional investment firms and mutual funds are increasing their budgets modestly — about 4-5%. Meanwhile, online investment firms are growing their budgets by almost 16% collectively, with some like E-Trade upping their budgets by 25%.

Lenders of all sorts — but especially mortgage companies — are slashing ad spending by nearly two-thirds.

Despite the struggling economy, some sectors of the financial services industry are boosting their ad budgets.

Source: The Nielsen Company

Beneficial Bank in Philadelphia, launched an upbeat branding campaign following the election. The campaign carries the theme “Starting Now.” The campaign includes two TV spots, new brochures, branch posters, print and outdoor ads.

Beneficial has $3.5 billion in assets, 72 branches in the Philadelphia region and 250 employees.

“Fiscal Sanity”
A general spot introducing the brand theme. Not every financial institution posts their TV spots to their website — like Beneficial does — but they should.

“Solar Lending”
In this spot, one of two in the campaign, Beneficial is pushing business loans specifically for solar power.

Four branch posters.

Three billboards.

Three brochures in the new series.

Transit ads — a train wrap.

Full-color brand ad.

The new brand look-and-feel has been integrated into the bank’s website.

Agency: LevLane in Philadelphia.

Bank of America recently introduced a new offer to New Yorkers. For every $100 they spend on public transit with their BofA bank cards, Bank of America will pay them $10. Sounds like a great deal, right — something New Yorkers would be thankful for? After all, the deal comes without any real strings attached.

But not all New Yorkers are thrilled about the promotion. Some find the transit ads the bank used to launch the campaign insulting.

Perhaps it has something to do with the ads’ snarky tone, which seems to mock the value of the offer while drawing on a New York stereotype of the city’s residents as whiny complainers.

As one ad says, “Ten bucks for every hundred I spend on transit? Great. How about a solution for gridlock?” Or to paraphrase the interpretation of one New Yorker, who published a comment online about the campaign: “Thanks for the paltry ten bucks back, asshole. Now how about fixing the real problem?”

The feedback on one website, Gothamist, has been far from enthusiastic. Commenters refer to the campaign as “mesmerizingly annoying” and “pander-tastic!” At NBC-NY’s website said, “Whomever thought up this campaign can’t stand New Yorkers.”

Reality Check: Are you catching all the irony here? New Yorkers complaining about an ad campaign that features New Yorkers complaining?

More than one person felt the ads were the work of non-native New Yorkers. “They seem to be written by someone who doesn’t actually live here. How many people really, truly give a shit about potholes on 10th Avenue?” To which someone else replied, “Who goes to 10th Avenue?”

Another person said wryly, “They’ll surely sell lots of their services to fictional New Yorkers as played by Hollywood actors.”

At least one commenter saw value in the campaign. “It’s gotten me thinking about it, which is the whole point.”

Photo Credits: NBC New York

Westpac Bank in Australia took a plain-looking red booth, something it calls the Truth Pod, around to various locations across Sydney. People who ventured into the unbranded booth were asked what annoyed them about banks. Apparently, the answer was fees. Fees, fees, fees.

Westpac filmed the whole process and made a commercial out of it. It’s a little like conducting the research for an ad while making it.

Aussies vent their frustrations about banks in Westpac’s Truth Pod.
If anyone said anything other than “fees,” you wouldn’t know it by watching this spot.

The ad announces a new offer from Westpac where the bank will waive its $5 fee on checking accounts when you make at least $2,000 in monthly deposits.

The bank concludes the spot by making a rather unusual promise: “We’re lowering the cost of banking.” Maybe checking accounts with no monthly fee are somewhat of a novelty in Australia?

Westpac’s head of retail and business banking, Peter Hanlon, said the new ad campaign reflects the bank’s more customer-centric strategy. That may be true, but the fee-free checking account was probably planned well in advance of the ad itself. Even though it might look like the Truth Pod was used as a research tool that lead to the bank’s free checking product, the ad agency’s Truth Pod concept was probably just the creative approach used to launch the offer.

The idea of marketers using a confessional booth isn’t entirely new. As Charis Palmer over at Better Bank Marketing notes, the Truth Pod is pretty similar to JetBlue’s Story Booth which was used to gather customer feedback. The material JetBlue collected via the booth was then used in a series of advertisements for the airline.

No one said you always have to be original and there are very few truly new ideas. Westpac’s use of its Truth Pod is one of the first — if not the very first — in the financial industry.

Ad Agency: Lavender* out of Sydney.

*The asterisk is part of Lavender’s name. According to the agency’s website, it means they “put consumer self-interest first.”

Earlier this week, SunTrust Banks unveiled a new brand tagline and marketing campaign focused on savings. The “Live Solid, Bank Solid” campaign speaks to what the bank describes as “a new era of thrift, security and financial responsibility.”

The new campaign is rooted in the notion that consumers are moving away from conspicuous consumption towards a more mature, solid approach to their finances.

The script for the TV spot reads, “Remember the Joneses? And all their stuff? And how people were always trying to keep up? Well, some of us woke up instead. We no longer want big and flashy. We want real, true and honest. We want to stand on solid ground, and we want a bank that does the same. A bank that’s here to help us prosper, whatever our definitions of ‘prosper’ may be. Live solid. Bank solid.”

Copy writing throughout the campaign is creative, direct and crisp. The messages reflect the new economic reality many Americans are facing. And it’s all delivered in a casual, confident manner.

SunTrust says it conducted months of consumer research prior to developing creative components. Among the findings:

• Nearly 80% of those surveyed would rather be envied for spending wisely than for spending freely.
• 83% believe it’s not about how much money you have, it’s about what you do with the money that you already have.
• Eight in 10 believe that while having more money won’t necessarily make you happier, feeling in control of the money you have will increase happiness.

Key Question: How many financial institutions do any research before they launch an ad campaign? For that matter, how many do any research afterward either?

“Consumers are thinking more about how they are handling their money than they were.”
– John Fitzgerald,
President/Mullen

“It’s apparent that consumers are thinking more about how they are handling their money than they were even six months ago,” said John Fitzgerald, president of Mullen, SunTrust’s ad agency. “They are moving to lives of more substance, reason, and long-term thinking, and feel a stronger sense of personal responsibility for the direction of their lives.”

SunTrust says the campaign was underway months before the economy took a nosedive.

The campaign debuted during NBC’s Sunday Night Football, and includes TV, print, radio and internet advertising.

SunTrust’s previous tagline was “Seeing beyond money.”

SunTrust spent $26 million on advertising last year (excluding online), and $21 million through September of this year.

The ad’s body copy reads, “Something has been missing. But more and more people are choosing to find it again. Solid ground. It’s a great place to be. A life built around balance. More substance. Less flash. Priorities straight. Ready for a return to solid? There’s a bank ready to help with that. SunTrust. A bank that’s here to get the fundamentals right. Uncomplicate the complicated. Champion convenience. And find ways to help you prosper, whatever your definition of prosper might be.”

These brand ads for Continental Bank in Wisconsin encourage people to get a firm grip on their financial situations. Each ad relies on a carefully-crafted custom photo where someone is wrestling — literally — with some aspect of their financial life: a wallet, purse or checkbook.

The ads are ultra-simple in their message, supported by a strong, story-telling visual. There’s only one blurb of copy — the headline — that simply says, “Take control of your finances.”

The ads all bear a common logo block with the very clever tagline, “Money. Wise.”

Based on the age of the people used in these ads, it’s safe to assume they were squarely targeted at Gen-Y.

Key Question: How many people will relate to these ads because they feel like their financial situation is out of control?

This style of advertising is extremely popular with ad school grads, but not everyone is a fan.

The bank has 8 branches, but the ads only promote one: the main HQ branch.

Each of these photos probably cost around $10,000 each.
Scouting locations, talent, props, lighting, photographer, makeup, etc.
It all adds up fast.

Agency: Freight Train

A print ad obscures all the text with asterisks to highlight the banks’ encryption capabilities.

“We found we didn’t have a brand. People were generally confused about what it is we offer.”
– John Ikard, CEO/President

1st Bank in Denver is rolling out a new ad campaign this month with an emphasis on online security. The creative campaign, targeting younger consumers, includes television, print, outdoor and web ads on sites like Yahoo, Ask.com, and MySpace.

In an interview with Marketing Daily, Brian Jensen/VP, said, “We think when other banks are pulling back, we have a chance to stand out.”

“When is there a better time, when you’re a strong viable financial institution, a community bank, to differentiate yourself form the competition than today, when times are difficult?” said John Ikard, the CEO/President of FirstBank.

The bank has a link off its website to a “Stability, Strength & Safety” page with all the right messages. It’s a smart move.

The Denver-based bank has 11 branches and 29 ATMs.

Agency: TDA Advertising & Design in Boulder, Colorado.

Outdoor ads depict $20 dollar bills with the presidential images obscured.

This non-traditional outdoor ad is clever and creative.

Posters speak to a younger audience’s lack of financial knowledge and sophistication.
“We’ll help you understand your money.”

“Bunnies”
In this spot, a man lays in an imaginary field that smells of fresh-baked cookies and is full of bunnies. It’s a metaphor for the bank’s online banking experience.

“Shirtless”
Some banker rips the shirt off a guy’s back, then smacks the coffee out of his hands.

You can see a couple more TV spots in the series here.

Earlier this year, Commonwealth Bank in Australia was harshly criticized for hiring a U.S. ad agency. It didn’t matter that the agency was world-famous Goodby, Silverstein & Partners, people down under were skeptical that they wouldn’t grasp the nuances of Aussie culture.

The hell with Aussie culture, they said. Instead of even attempting a spot that might try to honor the land of Oz, the bank and agency decided to take a huge gamble and made one of the weirdest spots you’ll ever see in the financial industry.

Here’s the concept: A bigtime American movie director, hired by a fictitious U.S. ad agency, makes an  unintentional parody of Australian culture in a new commercial for Commonwealth Bank. The makebelieve spot piles one Aussie stereotype on top of another: Mad Max koalas from Beyond the Thunderdome tangle with a didgeridoo-playing, boomerang-chucking Crocodile Dundee lookalike. The bank’s executives are not amused.

It’s a spot-within-a-spot, where art imitates life imitating art.

When the commercial first debuted, only the first 30 seconds were shown.
To many, it looked like the bank had gone completely insane.
A little while later, the whole spot aired, revealing the bank’s displeasure with the “ad” within its ad.

People hated it. It was lampooned around the world. But both the agency and the bank staunchly defended their strategy.

30% of Australia’s 16 million people don’t like the campaign or the strategy. That’s only 4.8 million people, or about 1-out-of-3.

Now, they’ve got some results.

Mark Buckman, the bank’s marketing director, says that brand awareness has grown from 70% to 95% while simultaneously cutting the media budget 30%.

But Mr. Buckman also acknowledged that 30% of Australia’s 16 million people don’t like the campaign or the strategy. That’s only 4.8 million people, or about 1-out-of-3, but Buckman says’ he’s okay with it because “16 million Australians are a big enough pond for us to fish in.”

Buckman defended the bank’s decision to ship it’s highly coveted $100 million account overseas: “We couldn’t find an advertising agency in Australia that was prepared to think differently about us.”

“We were sick to death of being told what we couldn’t do.”

That’s fine, but is that why they took such a huge gamble with the bank’s brand?

Buckman said there was a fundamental belief that perceptions of 100-year-old institution could not be changed. “In order to get people to think differently about us, we had to get them to notice us and then get them to talk about us — and talk they did,” he said. “We set out to achieve three things — impact, comprehension and likeability.”

Two out of three ain’t bad. But doesn’t “likeability” seem like an important brand association?

About CEO Ralph Norris’s feelings towards the risky strategy, Buckman said, “He didn’t shy away, but he did say ‘this is either going to be a blaze of glory or just a blaze. Either way there are going to be flames.’”

True that.

Key Questions:

• Would you prefer to be well-known by many, but unliked? Or would you rather be liked, but only known by a few?
• Is brand awareness more important that positive feelings about a brand?

Hampden Bank’s campaign, called “Evolved,” portrays out of town competitors as corporate dinosaurs that adversely affect local prosperity. The ads depict creatures with names like the “VelociMerger,” “Bureaucradon” and the “Bully Mammoth.”

The campaign included television, radio, billboards, bus graphics and print ads.

VelociMerger

The copy reads “Banking has evolved beyond the battling corporate monsters. Hampden Bank, indigenous to Western Mass., is more adaptable to your needs - online, in person, at ATMs or even in another language. Cold-blooded, out-of-town banking is about to go extinct. It’s nature’s way of telling you there’s a better way to bank just around the corner.”

Bureaucradon

The copy reads: “Banking has evolved beyond the complexities of corporate red tape. Hampden Bank is the next generation. Smart, flexible and adaptable to your needs - we’re more than just local and able. Cold-blooded, out-of-town banking is about to go extinct. It’s nature’s way of telling you there’s a better way to bank.”

The bank is wrapping the campaign under the slogan “A Brighter Idea.”

Agency: Winstanley Associates

In addition to winning three gold regional ADDY Awards, the national campaign was honored by the American Banking Association as one of the country’s best.

“No matter how long
the night has been,
there’s always breakfast.
This is America.
The sun comes up and
we get a fresh start.”
– BofA’s ‘Pancakes’

Bank of America’s current brand TV ad titled “Pancakes” is an artfully subtle message of hope and reassurance. It sends a message about the economy that Americans want to hear: “Things will be okay and we’ll get through this.”

In a sense, the ad is almost an ad for “Brand America” (not just the bank, but the whole country). It taps deep into the American psyche, speaking directly to the consummate faith in our power to prevail through even the darkest times.

Script for BofA’s “Pancakes”

No matter how long the night has been, there’s always breakfast.
This is America. The sun comes up and we get a fresh start.
At Bank of America,
opportunities are waiting for every customer, every day.
Like risk-free CDs, innovative ways to save,
and smarter ways to spend.
No wonder one-out-of-two households in America
trust their finances with Bank of America. Bank of Opportunity.

Sorry, you can’t see the spot anywhere online yet.
A spokesman from BofA told The Financial Brand the current economic crisis has kept the bank’s
internal communications team too busy to upload its latest spots to its Newsroom.
Here are a few still images from “Pancakes.”

Who knew pancakes could make such a beautiful metaphor? It’s almost like saying, “Hey, America just had a real economic bender. Glad that’s over. Now let’s have breakfast and get this hangover behind us.” Coupled with the visuals, it’s wonderfully optimistic.

The spot positions BofA as a leader, poised to guide America out of our economic crisis. This is a much more creative way to reassure people with a “safe and sound” message than simply saying, “We’re safe and sound.”

The spot weaves in a few products and services, then finishes with a point-of-proof that essentially says “half of America trusts us, so you can too.”

All around, it’s a smart spot — one that’s on-brand for BofA, offering a relevant, timely message.

Agency: BBDO

October 2008 was one of the roughest ever for the financial industry. Now that October has passed (and thankfully so), let’s take a minute to look at some of the ads banks and credit unions ran as the global financial crisis developed.

US Bank - “Roots”

The headline on this full-page ad from US Bank is awkward. The periods in “U.S.” and the overuse of the word “bank” make the headline choppy. Simply using “Bank Solid” would have been enough. Readers understand the implicit call to action: “You should be banking at US Bank.” That’s why advertisers advertise.

The artwork is visually captivating and the metaphor is relevant, although there isn’t a strong connection between the ads’ components (headline, artwork and offer). It feels a little slapped-together, which it probably was. It’s not until you get to the first sentence of the body copy (people read ad copy?) that the “roots” connection is made. The copy also promises a “guaranteed rate of return” on CDs, something BofA has started emphasizing in its ads as well.

Including product offers in your “safe and sound” message is smart. It doesn’t seem practical to run a pure image ad right now — one whose purpose is to simply reassure customers. That kind of ad doesn’t really work to build the brand as much as it “stops the bleeding.”

KeyBank - “Proven Over Time”

Any bank could run this ad. All you have to do is change the year in the first sentence of the body copy and swap out logos.

Banks run ads like this all the time. Some banks even run this kind of ad one day, then fail the next. People read this kind of stuff and roll their eyes. Why not provide more proof for the otherwise unsubstantiated claims like “proven over time” and “well-capitalized?” If you’ve got a cap ratio worth bragging about, why not explain it to people? And don’t use the excuse, “They don’t care,” or, “They won’t get it.” The typical American consumer isn’t as dumb or disengaged as you think. She is your wife, or your dad.

Using Moody’s and S&P as “proof” of your safety and soundness won’t fly with those who have been paying attention to financial news lately. These ratings’ agencies are the same bozos who gave triple-A grades to all those toxic subprime mortgage-backed securities.

Sterling Savings - “Really Boring”

This ad is great. Sterling is mixing product offers with its “safe and sound” message. The irony is that the bank says it is boring and predictable without being boring or predictable. This ad shows how you can convey a “safe and sound” message without having to surrender any sense of personality your financial institution may have. Temporarily renaming products “The Really Boring [X]” is brilliant.

Power Financial - “No Bailout Needed”

This ad for Power Financial from the marketing folks at Shared Idiz shares a similar strategy with Sterling Savings. The ad introduces the “safe and sound” message in a way that connects with people on a visceral level; things like corporate jets really rub the average American consumer the wrong way.

Again, it’s smart to include product offers. This is one of the few ads out there promoting lending (home equity and auto) as part of the “safe and sound” strategy. As previously noted at The Financial Brand, saying you’ve got money to lend in the middle of a credit crisis is one of the most effective ways to differentiate your financial institution while suggesting you’re healthy and strong.

WaMu + Chase = “Peace of Mind”

The headline on this ad from WaMu raises one big, implicit question: Didn’t WaMu checking accounts come with peace of mind before the takeover? It’s the word “now” that triggers the scrutiny. You wouldn’t wonder what was previously wrong with WaMu if the headline simply read, “Free checking. With free peace of mind.”

The body copy in this ad is pretty good. Too bad no one reads ad copy anymore though. If you’re one of the few who does, click on the ad to enlarge it.

ING Direct - “Manifesto”

As usual, ING Direct is taking its own unique direction on the financial crisis. Recognizing the public’s shift from credit-based spending to thrift-based savings, ING Direct is seizing the opportunity to tell its brand story in one of the most unique ads ever to come from a financial institution.

Netbanker reports that over 5,300 people have gone online to “sign” this “manifesto” at a special wethesavers.com microsite from ING Direct.

Tip of the Hat: To my dad, for mailing all but one of these ads to me.

“Money creates money concerns. And genuine attention to money helps eliminate them.” That’s the underlying premise behind Key Bank’s latest brand ad campaign, “Money Needs Attention.”

The campaign includes print, TV and outdoor advertising, as well as a microsite.
(more…)

Here’s a new print ad running in WaMu markets that, considering the situation, is pretty darn good.

The ad’s copy reads: “WaMu has a bright new future, thanks to the stability of JPMorgan Chase (and their nearly trillion dollars in customer deposits). But Chase brings more than money to the party: together we have 14,300 ATMs and 5,400 branches nationwide, a quarter of a million employees, and the confidence of banking with over 100 million other customers.”

That definitely sounds like a bank that’s “too big to fail.”

Tip of the Hat: To Josh Streufert at Weber Marketing Group
for sending the ad along.

Harris Bank recently unveiled a new branding campaign to drive home the bank’s “here to help” message, a slogan the bank has used for the past two years.

Harris expects to reach 95 percent of its core audience — millions of people across the Chicago area — using television, radio, digital, print, outdoor and transit advertising, including this example:

[Click any image to enlarge.]

The triptych says, “Bored? Pass the time with a word jumble. ULOQOSYIL HRSPIM NUJOROS EENRSE LSAIOABT. Hint: They all start with ‘S.’” The answers for the word jumble are here on page 2.

Unfortunately, the solution to the word jumble says nothing about the Harris brand. And you have to wonder, is a word jumble really that helpful to a bus riders?

Helping people in seemingly trivial ways is actually part of the bank’s brand strategy.

“The ads are about regular life and demonstrate that Harris is committed to helping in ways that are unexpected,” said Justine Fedak, SVP/Marketing with Harris. “They also provide clarity to our customers at the times they need it most — something we have been doing for over a century in Chicago.”

A YouTube account created last week has 11 different videos, all offering some sort of semi-useful tips completely unrelated to banking, like this one that shows a cool way to fold t-shirts:

TV ads are the cornerstone of Harris’s media strategy. The bank says it’s buying time on CBS, ABC, NBC, FOX, WGN, ESPN and CNN. The ads will appear during major news and sports broadcasts as well as top-rated programs such as CSI, Dancing with the Stars and The Late Show with David Letterman. The campaign debuted during the Chicago Bears’ season opening game against the Indianapolis Colts on NBC’s Sunday Night Football.

This is the first TV campaign from the bank in two years. The bank has a number of popular TV spots from years past uploaded by various Harris ad fans.

Alan Spindle, creative director with Element 79, the agency behind the campaign, said, “The TV spots grew out of the print and outdoor we’ve established over the past few years. So out-of-home, transit and print ads actually star in the TV spots.” When you see the ads (sorry, they are only viewable at the microsite), you’ve got to look closely and pay attention to catch the cab-top ad whizzing by:

Element 79 is the same agency that released the popular viral video “Ball Girl” for Gatorade earlier this year. The agency lost the Gatorade account despite their success with the video, which has been viewed over 1.3 million times.

The bank’s microsite for the campaign offers advice in six different categories: Financial, Planning, Small Business, Travel, Entertainment and Unexpected.

At the microsite, there are “helpful” videos and links to external, third-party websites — an interesting use of other people’s content (perhaps without their consent).

There are also five puzzles at the microsite, including word jumbles and visual riddles. All but one of the games were crafted to reinforce some aspect of the Harris brand.

The microsite is linked off the home page of the main Harris Bank website.

Harris Bank, a unit of the Bank of Montreal, has assets around $40 billion.

On Thursday, September 4, an ad from Silver State Bank asked, “Why do so many of Nevada’s strongest businesses trust Silver State Bank?”

The answer? “Security” and “protection.”

The next day, the bank was seized by federal and state regulators.

Apparently people weren’t buying the bank’s “you can trust us” sales pitch. When you lose people’s trust, you lose their deposits. In the two months prior to the bank’s seizure, customers pulled $264 million of the $1.7 billion on deposit at Silver State.

“A run on deposits
is what kills banks.”
— Tim Coffey
VP/Research, FIG Partners

“A run on deposits is what kills banks,” said Tim Coffey, VP/Research for FIG Partners, in an interview in the Las Vegas Review Journal. “It happened that way in the Great Depression, and it’s happening again.”

Reality Check:

• People already don’t trust banks. Most financial institutions are seen as greedy and self-serving.
• Situations like this, where Silver State advertised blatant lies, don’t help financial institutions shake this image or build any credibility
• People’s B.S. detectors trigger alerts whenever they hear someone say “Trust Me.” Images of used-car salesmen go through their minds.

Key Takeaway: It takes more than just words to earn people’s trust. Reminding people that your financial institution is “safe, sound, secure and stable” is an important communications strategy these days. Just remember: Marketing can’t ever create a sense of trust. As with all our relationships, trust is something earned — usually over time.

“Welcome to Blingola,” an imaginary world where everyone has “all the happiness in the world,” courtesy of their Virgin Money credit cards. With headlines like “The land of milf and honeyz,” you’re probably thinking this campaign is a joke. It isn’t. These ads are fo’real cuz.

(Click to enlarge)

Apparently in South Africa, where these Virgin Money ads are running, “wish fulfillment” means all your pimp-daddy, gangsta-wannabe, holla-balla, schnizzle yo’ dizzle dreams come true. This campaign is sure to offend the puritanical — if not frequently hypocritical — sensibilities of many Americans. But remember: Americans aren’t the target audience. Nor are puritans.

Check out this TV spot. It looks more like a promo for MTV’s Cribs than for a financial institution.

It’s easy to get distracted by the campaign’s socio-cultural fantasies — it’s blinginess, if you will — but the actual product it’s promoting has one feature that’s pretty slammin’. South Africa’s “Bling” edition of Virgin Money’s credit card actually pays “a whopping 9.5% interest rate on all positive balances.” The downside: 20.5% on negative balances.

Key Question: Does Virgin cap the size of balance you can earn 9.5% interest on?

The fact that you can both earn interest and borrow money from a single, card-based account is really amazing. It’s a big enough breakthrough that Virgin Money should have probably renamed the product. “Credit card” just isn’t right.

The cards themselves come in three flavors. One is fire red and says, “Just use me.” Another has a crazy line-drawing of gawd-knows-what. A third one has a faux diamond-encrusted “Bling” in gangsta lettering.

Click on these ads to enlarge them. Then soak it all in — the planning, the set, the items, buying the items, casting, makeup, photography, art direction, copywriting, design, layout and typesetting.

The ads are fun and extravagant.

FYI - BPay is a bill payment service unique to Australia.

Key Question: What do you think these ads cost to produce? Most agencies would probably charge $10,000-$25,000 USD. Each. Small design studios might charge a little less.

Fifth Third’s “Unlock Your Dreams” campaign, which started yesterday, centers on a scratchcard and a $250,000 sweepstakes. Anyone can enter by stopping at a branch to pick up their game piece, or you also can request game pieces by mail (as is legally required, but who does that?).

In addition to the $250,000 grand prize, the bank is giving away 22 first prizes of $10,000 — one in each of the bank’s regions.

The scratch-off the game pieces reveal one of the following “instant prizes,” most of them contingent on acquiring a new Fifth Third product:

+ One of 42,500 MasterCard gift cards worth $10
+ $50 in a new “Goal Setter” savings account
+ $50 off loan closing costs
+ $50 off mortgage loan app fee
+ 5,000 Bonus Rewards Points with a new Visa credit card
+ 5,300 Bonus Rewards Points with a new home equity line

The value of the campaign’s prizes, including cash and discounts, totals $895,000.

The scratchcards also include a special “code.” To win either of the cash prizes, you have to go to a special microsite for the campaign at www.53unlockyourdreams.com and type in your “code.” But that’s not all you have to type in.

In order to complete your entry at the microsite, you have to give up a lot of personal information — including your name, email, phone number, mailing address and DOB — so the campaign will definitely be a success from an MCIF perspective. Entrants even tell the bank what kind of financial products they might be interested in by checking a lifestyle option like “getting married” or “retiring.”

The magic of the “code”

From a marketing perspective, the “code” is just a ruse to make the scratchcard more exciting. It gives people the impression that their “code” may “be the one” and they “may already be a winner,” giving them more incentive to visit the microsite and surrender their MCIF profile. In reality, the cash prizes will be given away in a conventional drawing, so the “code’s” only real purpose is to validate entries, thereby preventing contestaholics from repeatedly entering. (Fifth Third is limiting the number of entries each person can have at 20.)

Key Takeaway: Scratchcards tickle people’s gambling nerve center — a juicy marketing tactic.

Bottom Line: This well thought-out and fairly straightforward promo should yield an immediate return in the form of new accounts and new relationships. If they maximize their MCIF opportunities, there should be additional ROI streaming in for months to come.

The contest complements Fifth Third’s slogan, “The things we do for dreams,” which the bank launched back in February.

“This year, our ads have touched on dreams of all shapes and sizes, and have celebrated the steps and sacrifices individuals make today to realize their dreams for tomorrow,” said Terry Zink, EVP/Retail for Fifth Third in a press release.

With $115 billion in assets and 1,300 branch locations, Fifth Third is one of the top 20 banks in the U.S. based on assets.

These brand TV ads from Alabama Credit Union are terrific. They are brimming with personality and look nothing like any other financial institution’s ads. (Well okay, they may look a little like the recent Telly Award-winning spots from Truliant, but they are still very cool and fun to watch.) Take a look, and enjoy the entertaining print ad for a branch grand opening after the videos.

The only downside is that Alabama Credit Union’s website doesn’t ooze with the same kind of spunk and attitude. As Ron Shevlin points out, it’s a bit of a brand disconnect to see ads as fresh and creative as these, then see a functional-but-unexciting website backing them up.

Key Questions: What are Alabama Credit Union’s branches like? How do these ads align with- or complement their in-branch experience?

The ads are the work of the Red Square Agency, Mobile, Alabama.

“Make your money multiply.”

Banco Matone

Ad Agency: DCS, Porto Alegre, Brazil
Art director: Gregory Kickow

There’s an old adage in financial marketing: “It’s all about the rate.” Recent evidence from two different case studies suggests that’s wrong.

Case Study #1

Take BankWest’s promotion to launch a new savings account, where they tested two versions of their online ads. Both versions of the ad were animated. In the first version, the ad started by introducing a big rate. In the other version, they led with a photo.

Bottom Line: The version of the ad leading with the photo generated three times as many deposits as the version leading with the rate.

Key Question: Have you ever tried testing two versions of your marketing?

Case Study #2

Yesterday, some well-respected voices in the financial industry blogged about a South African bank that conducted an interesting marketing test. One version of the bank’s loan mailer had a man’s photo in it, another version had a woman’s photo.

Bottom Line: The woman’s photo impacted the bank’s male customers about as much as dropping the loan’s interest rate by 4.5%. (Women, it seems, were less impressionable.)

Key Takeaways:

• With both deposit and loan promotions, there’s a lot more to it than just the rate. Other psychological and emotional factors are at work.
• Be brave and have the courage to experiment. Financial marketers need to conduct more tests like these.
• Pay attention to what’s really driving your results, but be prepared to have your assumptions challenged.
• The next time you do a rate-based promotion, shift your focus from the rate to a photo and see what happens.

Little details can have a huge impact on the bottom line. As one credit union marketer recently pointed out, even something as subtle as a pronoun can make a big difference.

Further Reading:

• A Pretty Woman Beats a Good Loan Deal
• Sexy Nude Chicks by Ron Shevlin
  
• If sex is selling then I am buying! by Tony Mannor
• The Little Things by Andy LaFlamme

Flagstar Bank debuted a new brand campaign during the opening ceremonies for the 2008 Summer Olympics. Spots depict consumers with boxes on their heads who need to “open their eyes” to Flagstar’s products and services. Here’s the video:

“People are different and want different things from their bank.”
– David Joyce, VP/Mktg Director
Flagstar Bank

In a press release, David Joyce, VP/Marketing Director at Flagstar, said the campaign’s new tagline, “The New Wave in Banking,” shows the bank understands “people are different and want different things from their bank.”

Flagstar’s brand ad positions the bank as a ‘unique alternative’ for ‘a different kind of people’ without ever really defining how the bank is unique or how the target audience is different. You can read the whole script on page 2.

The spot’s conceptual device – putting boxes over people’s heads – creates a surreal world that feels oddly in contrast with the idea that “people are different.” Instead, they are faceless, lifeless robots, waiting for liberation. The somber, three-step German polka soundtrack adds to the strange vibe. Ooom-paa-paa, ooom-paa-paa.

Flagstar’s brand strategy is similar to the one used by Pemco Insurance. To paraphrase, it goes something like this: “Everyone is different, and for people who are different like you, we’re your kind of bank – different.” Pemco takes a more direct approach while injecting a heavy dose of satire. Enjoy this spot:

If you liked that spot, here’s another one from Pemco, “Blue Tarp Camper.”

The Pemco spots are arguably the more effective way to deliver the “We’re-Different-Like-You” strategy. They make clear statements about how they are “different like you.” Like the Obsessive Compulsive Recyler, Pemco believes in doing the right thing even if it means going to tedious extremes. And like the intrepid Blue Tarp Campers, nothing will deter Pemco, certainly not Northwest rain. Pemco has a whole series of these lifestyle vignettes (around 20 total), so they’ve clearly given this some thought.

The Flagstar Bank delivery of the “We’re-Different-Like-You” strategy feels shallow and empty.

Key Takeaway: Relevant differentiation is the key to branding. Simply claiming your different doesn’t cut it. You actually have to be different. Sure you can say you’re different even if you aren’t (and many financial institutions do it). But be prepared for people’s disappointment if the experience you deliver is less different than people expect. Brand gaps like these can come back to bite you…hard.

Flagstar’s campaign includes television, print, radio, Web and in-branch advertising and is scheduled to run in Flagstar’s three banking states of Michigan, Indiana and Georgia. Joyce called it the largest brand campaign in the bank’s history.

SMZ Advertising in Troy, Michigan, where the $14.6 billion dollar bank is headquartered, created the campaign for Flagstar.