Current financial advertising: Oregon bank’s anniversary ads feature redwood carving of logo
To celebrate its 80th anniversary, Valley National Bank of Oregon (Forest Grove) commissioned a carving of a redwood block with the bank’s anniversary logo: a wreath surrounding the letters VNB over a banner which read “80 Years Strong”. Pictures of the finished block were used in transit, cable tv, direct mail and newspaper ads, and some ads showed the carving in the process of creation. The bank also had a weeklong celebration of the anniversary. The $22,000 campaign was “very successful”.
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Anonymous
Full text: [Bank Marketing] Aug 1987
First Union Takes to the Streets
Faced with a highly competitive atmosphere, First Union National Bank of South Carolina sent its branch managers and their assistants door-to-door in the city of Greenville, using a low-key, soft-sell approach to gain recognition. Don R. Johnson, the bank’s senior vice-president who originated the campaign, claimed that the traditional sales technique of house calls would demonstrate the bank’s personal interest in the customer. Managers’ enthusiasm has prompted a number of additional visits and follow-up phone calls and letters. The door-to-door campaign yielded 21 sales, including a $40,000 home equity loan and a $50,000 certificate of deposit. Bank personnel calling on customers at home kept their leading introduction simple and direct and presented people with an information packet that included a gift offer. The success of this program has led First Union branches in other towns to plan similar door-to-door campaigns.
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Full text: [Bankers Monthly] Aug 1987
Banking’s New Fast-Food Approach
Due to declining interest rates and weak demand for commercial loans, many banks are focusing on consumer business by offering a broader product range and more competitive interest rates. First Union Corp. (Charlotte, North Carolina) has invested in a program designed to ensure uniformity among the products, personnel, promotions, and physical appearance of its 722 branches scattered among 4 southeastern states. While First Union has opted for image advertising, Citizens & Southern Corp.’s bank in Fort Lauderdale is using advertising that promotes specific products. Competition for the consumer dollar in Florida is particularly strong. Banks in the state compete for a share of the nearly 1,000 residents who move into Florida daily, as well as customers of competitors who may be disenfranchised by merger and acquisition activity. In the drive to win customers, large banks rely on improved marketing expertise and technology, while small banks emphasize personal service.
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Taylor, John
Full text: [Bankers Monthly] Aug 1987
New Weapons a Necessity in Marketing ‘Warfare’
At the summer meeting of the Professional Insurance Mass-Marketing Association (PIMA), Mort Reich of The Reich Group told marketers that new weapons and strategies are needed to compete in today’s marketing “warfare.” Reich, whose direct response marketing agency was recently named as one of the top 20 such agencies in the country by Direct Marketing News, believes that marketers need to develop a completely different mindset. Consumers put up barriers to protect themselves from the incessant barrage of words. Marketers need to fight to overcome these barriers, and the key to gaining a foothold is to be market-driven, with each campaign mounted to gain new territory being based on strategic research. New, fresh research is the best way to make tactical decisions. Good, strategic research leads to the development of good creativity that sells, persuades, and wins territory. When thinking in terms of “market,” consideration must be given to the total environment — all of the economic, political, technological, behavioral, legal, and competitive forces that shape the consumer’s perspective.
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Maher, Thomas M.
Full text: [National Underwriter] Aug 3, 1987
Financial Services Marketing: Banks Play Trump Cards in Credit Fight
In the 1970s, Citibank became one of the first banks to tap the national market for credit card customers with a massive, national direct-marketing campaign. Now, financial institutions across the US are adopting similar tactics and battling for credit card customers. The problem is that the market is saturated; the number of cardholders is stagnant, though charge card volume is growing. While smaller banks are trying to compete, it is the biggest issuers of credit cards that are securing most of the market. To get more cardholders and to get them to charge more, banks are giving away free gifts, lowering interest rates, and creating identities with special groups. Several banks also waive annual fees. Most such efforts are marketed through direct mail, but traditional advertising also is playing a role. Affinity advertising — with a bank tying its credit card to a promotional offer from another industry — is the biggest wave in credit card promotions. Currently, the most popular alliances are with the travel industry.
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Winters, Patricia
Full text: [Advertising Age] Aug 3, 1987
Direct mail announces new financial hub
Trustcorp of Toledo has targeted 6,000 upscale Dayton households in a campaign to build name recognition and a customer base for its new Financial Service Center there. It wants to attract small-to- medium size businesses and individuals with incomes of $50,000 a year and over. Trustcorp will mail 600 pieces a week and follow up with telemarketing. Its Financial Service Center features both traditional and nontraditional products and services. One objective of the direct mail campaign is to give the appearance that Trustcorp has a larger presence in Dayton than it really does.
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Anonymous
Full text: [Bank Advertising News] Aug 10, 1987
Coalition plans campaign against aid for contras
Rosa DeLauro, director of the coalition, known as Countdown 87, said Thursday that the organization was trying to raise $1 million to pay for a series of TV commercials backed by marketing, polling and direct-mail techniques. The program of aid to the contras expires in late September, and DeLauro said Countdown 87 would focus its efforts on the home districts of 30 members of Congress whom the group considers important to a vote on further assistance.
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Full text: [Minneapolis Star and Tribune] Aug 14, 1987
State Sues to Stop Canyon Lake Sales
Calling its marketing efforts a “sham contest to gain sales leads,” Texas Attorney General Jim Mattox has finally moved against a Canyon Lake condominium promoter whose sales tactics have drawn hundreds of consumer complaints during the past year. The attorney general filed a civil suit last week alleging that Freedom Financial Inc., a Dallas-based firm selling time-share interests in Freedom’s Canyon Shores condominium project at Canyon Lake, north of New Braunfels, is illegally marketing its product. (excerpt)
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Critton, Judi
Full text: [San Antonio Business Journal] Aug 17, 1987
Back to Basics: General Binding Survives Ill-Starred Microcomputer Venture
General Binding Corp.’s current management, headed by Rudolph Grua, is returning to the basics of its core business — the making and selling of binding machines, plastic laminators, paper shredders, and the supplies for these machines. An unprofitable diversification into microcomputers in 1980 was terminated in 1983, and its troubled subsidiaries — US RingBinder and Webtron Corp. — were returned to profitability. About 80% of General Binding’s sales are generated by its core business, and about 20% are contributed by its subsidiaries. In 1986, sales surpassed $200 million for the first time, due to new products and direct-mail campaigns. Since 1984, General Binding has: 1. reorganized its 350-person direct salesforce, 2. introduced marketing by telephone and direct sales, 3. fostered new products, and 4. returned earnings to their previous stability.
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Werner, Thomas
Full text: [Barron's National Business and Financial Weekly] Aug 17, 1987
Bank taps patriotism, backs vets with Visa
A new Dollar Dry Dock affinity marketing program targets those sympathetic to American veterans of Vietnam by giving $4 of its $20 annual visa fees to Vietnam Veterans of America. Also, each local VVA chapter gets $6 for each new account its member recruit. A MasterCard program may follow. The plan is to raise some thousands of dollars for the VVA and expand Dry Dock’s 155,000 card share of the $143 billion market. A $1 million marketing campaign features ads to run during CBS’ new weekly Vietnam TV drama.
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Winters, Patricia
Full text: [Advertising Age] Aug 17, 1987