It’s a new world out there for kids these days. No more asking for a couple bucks from their parents, no more chores for 10 cents. Instead, Mastercard is providing them with a prepaid debit card. Essentially it is a reusable gift card but so much cooler! Facecard is the new thing, it is a debit card that you can sign up for online and allows you, or anyone else, to transfer money onto the card from a bank or your paycheck. Kids must be going around giving out their Facecard number to friends and families for their birthdays, graduations, etc.
Though this is a very simple idea, I think the marketing behind it is very interesting. Facecard is being promoted on Facebook, MySpace, concerts, and colleges. Banks and Credit Card companies have been looking for new, innovative ways to target this age group with an age appropriate item, and I think this simplicity is making the way. Facecard will email or text specific people about special promotions that their demographics, which they received from signing up, would be interested in, like sales, clothes, music, etc.
Even though this is a not a novel idea, it opens the doors to marketing financial products to this age group. The age group in which print, tv, nor direct mail are effective.
The website itself is very cool, check out Facecard!
Posted by Nirali on December 1st, 2008
Filed under Banking, Marketing | No Comments »
Card customization is nothing new – outside of the United States. Simply searching on Google returned an article about the KBC bank in Belgium who were already providing this service to their customers back in 2006. Customers were invited to submit an image of their choice and after a few days new card was available for pick-up at the bank.This trend has now found its way slowly into the US via Capitol One’s Card Lab. I propose this be a venture undertaken by credit card companies such as American Express Business. Their new plum card simply does not say who you, the company are!
A simple addition of your company’s logo onto the card would not only enhance the company’s image and recognition, but there would be no confusion about who was paying when an employee was taking a client out to lunch. No, they are not using their personal bank card, but the company card – reinforced by the simple logo addition.Now it would be amazing to be able to make completely customized cards for your company but I’m sure this will not be available anytime soon. Regardless, I have created the Stackpole & Partners future credit card below:
For those of you who are artistic and enjoy a craft project like myself, make sure to check out this other hit I received from my search on Google regarding different techniques one person has used to personalize their card.
Posted by Marissa on November 24th, 2008
Filed under Advertising, Banking, Branding, Design, Fun, Miscellaneous | No Comments »
They may have a cheapo website and overly aggressive radio spots, but you have to hand it to DCU (Digital Federal Credit Union) for their willingness to try new things when it comes to marketing.
Today DCU sponsored a promotion in Worcester, MA offering gasoline at $1.99 a gallon. The promotion, offered in partnership with a local Gulf station, lasted from 7am to 1pm and was open to anyone.
It may come as no surprise that the event drew big, big crowds. According to news reports, the line of cars stretched a quarter mile, with some drivers waiting as much as two hours to fill up on discount fuel.
Presumably, DCU reps took advantage of the idle time to get to know their customer base a little better, perhaps handing out some free literature, maybe even writing up a few new accounts.
DCU is no stranger to thinking outside the box when it comes to marketing. Their website features a “classified” section where members can buy and sell goods and services ala Craigslist. And their decision to move away from the outdated “credit union” nomenclature, and foster a nimble, technologically savvy persona, has proven wise indeed.
DCU’s marketing isn’t faultless by any means. But you have to hand it to them when it comes to inventiveness and tenacity—particularly in this down market, when the status quo among most regional banks is to lay low, play it safe, and hope that their deposits somehow multiply.
Posted by Simon on July 22nd, 2008
Filed under Banking, Marketing | No Comments »
The ABA New England Marketing conference in Newport, RI this past Friday touched upon many aspects of the online world, but not much of it was new. More importantly, a good deal of the information was not necessarily relevant to the banking industry. Online marketing efforts can be particularly helpful in tracking results and providing ROI measurements, but this important element seemed to be overlooked.
Particularly when banks are facing the major competitive pressures in the marketplace today, building core deposits and hanging onto a steady lending stream is increasingly difficult. However, there are various ways that banks can target their audience and grow their business with their online applications and online marketing strategies.
The main element I found missing from the conference was how to effectively use new media to target and capture appropriate audience groups. Where was the discussion on turning website visitors to customers? Particularly where Search Engine Marketing and other online marketing and media can target geographies and deliver specific audiences, you are able to target these groups with particular products and messaging.
Of course building an online marketing strategy is greatly dependent on the strength of a bank’s website, and whether the site contains appropriate lead generation applications or forms that capture new accounts or inquiries. However, there are metrics and strategies being employed for our bank clients and other similar professional service clients where online and new media can provide an incredible source of lead generation, and more importantly rapidly grow a client base.
Don’t stop at learning new media and online opportunities, apply them in a way that matches your services and products to those customers searching online.
Posted by Christina on October 24th, 2007
Filed under Banking, Search Engine Marketing, Web | No Comments »
On Monday, The Boston Globe ran a story on Fidelity Investments’ new high-interest checking account. Launched largely as a reaction to efforts by banks like BofA to woo brokerage house customers with offers of free or discounted online equity trades, the account has a number of attractive features. This news continues what The Globe has called the, “push and pull within the financial services industry as banks and brokerage houses try to top each other’s services….” Yet, the big banks and brokerage houses aren’t the only players in this field. What The Globe didn’t report on are the number of community banks who will also need to react to broadening offers of convenient, sophisticated high-interest checking accounts. Which is not to say that local, communty banks can’t compete. By doing what many do so well — interacting with their customers and responding to what they want, the saavy will continue earning new accounts and keeping customers happy. The trick is to always remind customers and prospects about what sets them apart, while staying on the leading edge of service and convenience.
Posted by Kelly on August 29th, 2007
Filed under Banking, Marketing | No Comments »