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Tag: campaign

Picking Up Pennies For Marketing?

When was the last time you came up with a truly unique marketing effort?

Let’s back up a bit. Your credit union is always looking for new creatives to promote various services. Really, how many ways can you suggest opening a checking account? (Turns out, a lot) But most of these ideas are just new copy and graphics on the same concept. I get it. I’ve even done it. (Yes, your trusty Credit Union Geek was a marketing copywriter for local credit unions!)

In addition to you coming up with these campaigns, every other credit union was doing the same thing. That’s a lot of ways to recommend a particular service! How can you stand out?

Why don’t we use a current example and analyze it for the “secret sauce”?

Ally Bank hit a grand slam on their latest marketing effort. Playing off the well-known idea of a “lucky penny”, they made just a few of them highly desirable. The bank placed 100 Ally-branded “pennies” on the ground in large cities. If you find one of their coins, follow the instructions on it and get rewarded with $1,000. Now that’s a lucky penny!

Let’s look at what was involved in making this Lucky Penny campaign happen. They commissioned 100 copper coins. Then they built a website. It has details on the program, a promo video, cool penny facts, and a redemption portal. And then they made sure to talk about it like crazy on their social media (with hints on where to find them based on local landmarks). Don’t forget giving everyone a hashtag to use. That’s it.

For an institution like Ally, this campaign cost less than a drop in the bucket. But the rewards have been enormous. Major media outlets covered the promotion, linking to their site and highlighting the social media posts (I’m sure some of that is credit to a great PR team). Even Facebook’s automated Trending feature highlighted the bank (which is based on the number of users talking about it). They put very little, respectively, into keeping the Lucky Penny talk flowing.

Sorry, did I say unique above? My company has done unique many, many times. It doesn’t always pay off. The better approach is to embrace something everyone intuitively knows, then tweak a small part. Like the yogurt company, Dannon. They aligned with the NFL to “find the golden bongo” and win a prize. Remember Charlie and his Golden Ticket? Are these promotions really so different?

What do you think…could your credit union have built these campaigns? I think so. Maybe you would have had only 5 Lucky Pennies, or the same number, but worth $100 instead. Scale the marketing investment to your requirements. Remember, this could also help with your mission to encourage savings (and opening up accounts with you). Anytime you engage the community, issue press releases (or better yet, develop relationships with local media) to get news coverage.

I’m a huge fan of scavenger hunt concepts. With a prize worth putting some time into, almost anyone will take notice. In a previous business, we developed plans for a community-wide volunteering initiative. Each day for a month, we would highlight and encourage volunteer support of a different local charity. There would be surprise rewards (local businesses sponsoring) if you showed up at said non-profit. Am I giving you any ideas?

Your marketing is getting repetitive. It may work to some extent, but if you want to make a mark in the communities you serve, get them excited. And you don’t need to spend your entire marketing budget to do so.

Please share some marketing initiatives you ran which really got your membership buzzing (and tweeting, Snapchatting, and Instagramming)!

Branded…Marketing?

“We never tried this before, and you won’t believe what happened when we did.”

Barring the click-baiting title, we’re excited to debut a new marketing campaign. It’s a fully branded program, from e-mail, phone, website, mailing, and social media. What is it? Well, it’s a secret.

Classified - For Your Eyes Only

We wanted to do something that grabbed the attention of credit union executives. Basically, our target audience. But everything wants your attention nowadays, so we had to be so bizarre and unique that (we hope) they cannot help taking a look. And that meant going all out on the branding, though not ours.

No guarantees the message will self-destruct in any period of time.

Our plan was to re-create the old secret agent vibe in its entirety. From the stained manilla envelope that winds up on their desk, to the spy-photos gathered during intelligence gathering, alongside careful redaction throughout the messaging, we built an adventure for them to follow. Eventually, it leads to a website we built that perfectly matches the look and feel, where we encourage a simple contact request. Of course, we congratulate them on making it to each new step, and put the onus on the CU executive as to what they will do next.

What are the results? That’s classified. If we told you, well, you know the rest…

Final Transmission

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