Marketing Strategy

How to Build Relationships with Branch Avoiders

Subscribe to The Financial Brand via email for FREE!Be honest. If you didn’t work in the financial services industry, how often would you step foot in a branch? So how can financial institutions build relationships with those who prefer avoiding branches as much as possible? Here’s four ideas to get you started. Pick up the. Read More

Credit Union Gives Fleet of Cars to Staff

Subscribe to The Financial Brand via email for FREE! United Community FCU just gave brand new 2009 Chevrolet HHRs to 17 employees. The cars, wrapped from bumper to bumper with credit union graphics, cost $380,000. To pay for the campaign, the credit union is slashing its marketing budget in half. Each employee is required to. Read More

10 Things Your Bank Won’t Tell You

Subscribe to The Financial Brand via email for FREE!Check out this interesting article that came out yesterday, 10 Things Your Bank Won’t Tell You. It’s a candidly cynical perspective on financial marketing, and attacks many of the common messages financial institutions use in their advertising. Here’s the list: 1.) “Our branches are there to sell. Read More

Consumer Marketing Psychology: The Good Reason vs. The Real Reason

Subscribe to The Financial Brand via email for FREE!Human beings, as intelligent and sophisticated as we like to think we are, are actually highly emotional creatures. Every decision we make is made for emotional reasons. Those are the real reasons. We then back-up those decisions with logical justifications — the “good reasons.” If you think. Read More

Rates Aren’t As Important As You Think

Subscribe to The Financial Brand via email for FREE!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. Read More

Are You Ignoring Gen-Y? Parents? Gen-Z?

Subscribe to The Financial Brand via email for FREE!There’s a lot of talk in the financial industry about “growing relationships” with a Gen-Y audience. Here’s two things you should be doing. #1 – Don’t ignore them. “But we’re not!” you protest. “We have defined Gen-Y as an important part of our future strategy.” Great. But. Read More

NASCAR Banking

Subscribe to The Financial Brand via email for FREE!Bank of America recently announced that it was introducing its first ever NASCAR-themed ad. The 30 second spot titled “Who’s Your Driver?” features footage of a number of top NASCAR Sprint Cup Series drivers whose likenesses are available on NASCAR Banking check cards and credit cards. Dale. Read More

Why No One Cares About Gen X

Subscribe to The Financial Brand via email for FREE!Financial institutions are falling all over each other trying to attract Gen-Y consumers. But what about Gen X? It doesn’t seem like financial institutions care all that much about Gen X. Why is that? Here’s the explanation. Gen Y represents the future — the highly-coveted credit-driven market.. Read More

Interactive financial ads you’ll get a kick out of (literally)

Subscribe to The Financial Brand via email for FREE!North Island Credit Union in San Diego has taken interactive advertising a step further. Two steps, actually. With your feet. This isn’t your typical “interactive advertising” (as in the “online” kind). The credit union has teamed up with Reactrix, a company specializing in interactive video floor displays.. Read More

Credit union introduces three new branded savings products

Subscribe to The Financial Brand via email for FREE!In this press release, Personal Care America FCU announces three new savings products. G.R.A.D. – “Getting Ready for A Degree” A savings account that is available to members wishing to save money for future education. It can be used personally for the individual or for any family. Read More

The Harsh Truth About Word-of-Mouth Referrals

Subscribe to The Financial Brand via email for FREE!Three business professors did a formal experiment after reading an article about Net Promoter Scores (NPS). They did two separate studies: one involving 9,900 customers of a telecom company, and another involving 6,700 customers of a financial institution. Their conclusions were published in the Harvard Business Review. Read More

Canadian CU pays $1.62 million to name arena

Subscribe to The Financial Brand via email for FREE!Windsor Family Credit Union will be paying $1.62 million over 10 years to name a new arena in its hometown as ‘WFCU Centre.’ (The good news: That’s only $1.45 million or so in U.S. dollars.) It’s unclear if the deal will be evenly divided into 10 annual. Read More

New media lessons from old school brands

Subscribe to The Financial Brand via email for FREE!You probably haven’t picked up an issue of Adweek in quite a while, because what’s happening on Madison Avenue with the Budweiser account doesn’t really affect the financial industry. But a recent issue showed how much Adweek has changed. Adweek used to be all about global agencies. Read More