Twenty-Five Cool Marketing Ideas

Can Summer Be Far Behind?

Summer is a hectic time for working parents of school-age children. To reach this group, survey the organized activities in your community, and publish a directory parents can request by phone or pick up at one of your offices. In the directory, you can promote children's savings accounts, savings programs for college costs, or even home equity loans to add a new room for an expanding family.

Planning for College

In the fall, parents are focused on their children's education. Take advantage of this focus by marketing a college savings program to parents of young children. Consider a tiered program beginning with a savings account funded by small automatic withdrawals from checking each month. When the savings reaches a certain level, it is automatically rolled over into a long-term CD. Develop a chart that shows parents how small deposits can add up over the years. Kick in $5 for every new college savings account.

Starting Over

When a divorce breaks up a family, one or both parties may experience financial upheaval. You can respond to this time of financial need with a "Starting Over Guide." Include information and worksheets on how to assess net worth, establish financial priorities, budget, invest wisely, and determine insurance needs. Include an invitation to discuss the financial future with a personal banker. Offer the guide through marriage counselors, divorce attorneys, divorce support groups, and other related organizations. You might also conduct a seminar on the subject.

I Do, I Do

Some bankers are creating niches with "event" marketing. The idea is to put together a package of products and services that could be valuable for events such as births, weddings, education. A wedding package could offer mutual funds as savings tools for those anticipating a wedding one or two years away, a line of credit, a special checking account and/or credit card to pay wedding expenses, and pre-qualification for a mortgage.

Mutual Funds as a Stocking Stuffer

Some financial advisers suggest that parents and grandparents buy mutual funds as one of their children's holiday gifts. If your institution doesn't offer a fund with low minimum initial investments, consider offering a special account where deposits can build until the minimum for a mutual fund is reached. You could market it as "a holiday gift that grows with your child."

Start a Mini-Financial Library

Set up a financial planning and retirement center in your lobby. Provide a variety of planning resources, including books, worksheets, calculators and computers with easy-to-use retirement-planning software. Offer limited-seating weekly "workshops" to orient customers to the tools of retirement planning. Provide t-shirts with clever slogans for anyone who completes a "retirement plan." Conduct a quarterly drawing for a "home financial library" of best-selling financial planning books.

Share the Joys of Reading

Sponsor a story hour for club members and the young children in their lives. Work with your public library to set up a one-time event or a regular once-a-month activity. The story hour probably can be held in the children's section of the public library. Ask members to volunteer to read their favorite stories, or ask the librarian for the name of a good storyteller.

Turn Contributions Into PR Coups

When you make a contribution to the community, instead of handing over a check, buy part of a project. Check presentations are "ho hum" photo opportunities, but consider the media potential of your president in the following kinds of scenarios: the president in shirt sleeves, off-loading lumber the institution contributed for a community center; sitting on the floor in the library, reading to preschoolers from one of the 100 books the institution just donated; shooting "hoops" with kids at an after-school program to which the institution donated equipment.

Invest in a Consumer Hotline

One Saturday each quarter, enhance your institution's reputation as a financial leader by offering a financial planning hotline. Have your institution's financial planning specialists available to answer consumers' general questions about topics such as retirement planning, investing in mutual funds, asset allocation, budgeting, mortgages, etc. Limit calls to 15 minutes each. Ask consumers not to ask questions about specific mutual funds or other investment products. The immediate goal is to provide a public service, rather than to generate leads. Solicit support from local media to co-sponsor or promote your program.

Reach Out to the "Sandwich Generation"

Team up with a local organization like your Area Agency on Aging to put together a seminar on "Caring for Aging Parents." Invite a social worker who specializes in coordinating services for the elderly to give an overview of community services available. Provide examples of customized care plans for aging parents who need minimal assistance as well as for those who have significant disabilities.

Got a Niche?

Ask branch managers to help identify unique marketing opportunities in their areas. For example, a branch located in a neighborhood undergoing gentrification could market a special "home-improvement" loan that comes with a free book or video on renovating older homes. A branch near a college campus could offer prepaid calling cards -- perhaps featuring the school mascot or colors -- as a service to students who have checking accounts or credit cards. Branches near retail centers might offer armored car pick-up of daily receipts.

Talk Rates Last, Service First

Pump up your mortgage loan portfolio by wooing local real estate agents with superior service. "Rate sheets don't sell," say agents, but only a few bankers are listening. Since as much as two-thirds of mortgage business stems from agent referrals, building relationships with top sellers is crucial. Start by taking an informal survey of sales agents and brokers. Do it in person, if possible. Ask how you can make their jobs easier, and develop a strategy to meet their needs.

Keep 'Em Moving

Movers are big spenders. They often need mortgages, home improvement loans, and credit for new furnishings, lawn care equipment, and repairs. Most financial institutions focus their efforts on people coming from outside their service areas, yet those who relocate within the region are also an attractive market. To build a database of soon-to-be movers within the market, an institution could offer a free mover's kit with items such as a change-of-address kit, tips on moving, a checklist of things to do in advance, phone numbers of local utilities and other companies every mover must call. Coupons from local merchants could add value to the kit. Place advertising in real estate publications, and distribute brochures through real estate offices and property management agencies.

Take It on the Road

How do you cross-sell to customers who do most of their banking by ATM? Try venue marketing. Distribute mortgage and home equity loan materials at home shows. Offer your mature market checking account at a seniors' expo, or have your loan officers staff a booth at a business exposition. Other possible off-site marketing opportunities: car, boat, or RV shows, women's shows, bridal shows, and county fairs.

Give 'Em Credit

Team up with a local technical school or job training program to offer educational seminars on credit usage for students. Discuss what types of credit are available, how to establish a credit history, and the risks, rights and responsibilities of credit users. Also include topics such as: "When not to use credit," and "How to fix a bad credit report or rating." Since a poor credit report can affect one's ability to land a job, offer tips for discussing credit problems with prospective employers. Distribute educational materials such as a glossary of lending terms and/or budgeting worksheets.

To Market, to Market

Supermarket branches yield opportunities for unique mini-promotions, such as giveaways tied to holidays or seasonal events. For instance, in the fall, customers who open checking accounts can qualify to win a backpack filled with school supplies. A holiday party pack can be used in a sweepstakes to sell CDs, and summer loan customers can register for a cooler full of picnic items. Grocery items -- a dozen eggs, a roasted chicken, a gallon of ice cream -- also can be used as premiums to attract new customer relationships. Or, work with the grocery store to put your offers on their fliers, bags, or in their ads.

Sponsor a Good Neighbor Day

Ask customers and employees to volunteer with their families for a community service day. Work with local community groups to identify projects, some of which will be suitable for volunteering youngsters. Clean and paint playground equipment at a park or daycare center. Do home maintenance for people with disabilities. Landscape a nursing home garden. Plan projects that can be completed in one day, and have a variety of projects so you adapt your goals according to the number and abilities of volunteers.

A Goodwill CD

Attract deposits from community-minded individuals by promoting a CD in which funds are earmarked for loans for community development projects, affordable housing, and small and/or minority-owned businesses. Issue a periodic report to investors that tells how the funds are being used.

Just in Time for the Holidays

Give your community a holiday gift. Team up with a local theater to sponsor a free showing of a holiday movie -- either a new release or a classic -- one Saturday in December. Arrange a surprise visit by Santa to thrill youngsters. Hold a drawing for free movie passes to spread holiday cheer among the older children and adults.

Offer a Financial "Workshop"

Only one-third of working Americans have tried to determine just how much money they will need to retire, says the Employee Benefit Research Institute. You can assist some of the other two-thirds by sponsoring a workshop on retirement planning. Your workshop should provide hands-on guidance to people who may be intimidated by the process. To prepare for your workshop, develop worksheets to enable people to figure the amount of retirement income they will need, how much they need to save each year to reach their goals, and how various returns will affect their plans. Provide registrants with a list of the financial information they will need to bring to class. Set up work spaces supplied with pencils and erasers, highlighter pens, paper clips, scratch paper and calculators. Consider having several bankers on hand to assist the workshop leader, and use the opportunity to offer your own savings and investment products. Provide forms to set up automatic savings on the spot.

Give 'Em More for Their Mortgage

Instead of competing just on rates, try making your mortgage loans more attractive by adding value. For example, you may want to offer mortgage customers a coupon booklet with savings on home products and services. Approach local carpet, paint, lighting, and furniture retailers to provide meaningful discounts to qualified home buyers. National chains and franchises such as moving van lines, maid services, and pest control companies also may agree to participate. It's a win-win-win proposition. Customers get more for their money; merchants get free exposure to a well-targeted audience. And you get to offer a mortgage product that doesn't look just like the other institutions in the community.

Show Off Your Community

Welcome new residents to your community by sponsoring monthly tours. You can hire a local guide to host your tours along with one of your officers or branch managers. You also may develop your own tour by working with the Chamber of Commerce and your local historical society. On new resident tours include a mix of historical sites with community recreational facilities, shopping areas, etc. Tell new residents about current events in your area that might affect them. To promote the tours, send mailers to new residents, or print a coupon for a free tour to include in new residents' kits sent out by realtors, Welcome Wagon, and other marketers. Ask your CSRs to hand out the coupons at the new accounts desk.

"If I Had a Hammer"

In spring, homeowners' thoughts turn to home improvements and repairs. Look for new opportunities to promote home equity loans. Hold seminars on home improvement topics in your branch, or team up with local hardware stores or home improvement warehouses to sponsor demonstrations at their location. To promote the events, decorate your lobby in a "construction" theme and ask your frontline staff to dress as builders, painters and electricians. Send statement stuffers in your account statements.

Go Back to School

To reach the often elusive college market, offer new account members coupons to area fast-food restaurants and stores. Advertise your offerings on the college Web site, or print your offerings on bookmarks left in the campus bookstore.

"Home Sweet Office"

Develop a home-equity campaign targeting homeowners who are setting up or upgrading a home office. Add value to your loan by contacting local companies that sell office supplies, furnishings and computers, and ask them to provide discounts to link to your loan offer. To reach home-based business people, advertise in local business publications and mass media.