Current bank advertising: Garbo’s glamour gets message across
Exchange National Bank of Chicago is running a multimedia ad campaign, its first aggressive campaign in five years, emphasizing the bank’s “intangible commitment to quality and excellence.” Ads show Exchange’s five year growth curve and such symbols of class as Greta Garbo, antiques, and Chagall paintings. Components include TV spots, newspaper ads, and direct mail followed by sales calls.
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Anonymous
Full text: [Bank Marketing] Dec 1985
Current bank advertising: Perpetual makes the Connection
Perpetual American has developed a multi-featured account, the Personal Cash Management Connection, which includes a NOW account, money market checking, telephone banking, direct deposit, and credit features. The advertising campaign for the “Connection” began on TV and radio, but changes in the marketing department forced the campaign to become lower-key, relying completely on newspaper ads for the final month. The bank reached its goal of $70 million in deposits, $30 million of which came in after the end of the campaign. After a hiatus of several months, a second campaign has been launched.
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Anonymous
Full text: [Bank Marketing] Dec 1985
Higher than expected card losses don’t bother First Atlanta
Despite higher than expected losses on new accounts, First Atlanta Corp. is pleased with its still-profitable credit card business, the largest in the southeast region. Most of the losses were incurred on new accounts gained through a nationwide mail campaign, a marketing tool that has since been discontinued. The firms views its credit card portfolio as a valuable future asset that will pay large dividens when mature.
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Anonymous
Full text: [American Banker] Dec 12, 1985
Metzger on marketing: ‘A’ is for advertising
Because advertising has become very expensive, bankers should carefully evaluate their advertising expenditures. Before an advertising campaign is begun, management should determine objectives. Employ: 1) personal letters and telemarketing to increase local business; 2) testimonials to advertise broader bank services; 3) local promotions to increase lobby traffic; and 4) support of local community projects to establish an image.
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Metzger, Robert O.
Full text: [Bankers Monthly] Dec 15, 1985
Ganging Up on Black & Decker
Black & Decker purchased General Electric’s (GE) small appliance business in 1984, and the conversion of about 150 products to a new, lesser known brand name has created confusion in the marketplace that small appliance competitors, such as Sunbeam, Hamilton Beach, Rival, and Norelco, hope to exploit. Although Black & Decker has its own $100-million advertising and promotion campaign, competitors have increased their advertising budgets and released new products to attract consumers who will perceive a void as GE is eliminated from store shelves. Small appliance manufacturers previously abrogated marketing responsibility to retailers because of the similarity of products, but the new fight for market share will change the way these products are marketed by requiring more direct advertising to consumers. The increased competition in the $8.3-billion-a-year small-appliance industry comes at a time when sales are lackluster, and profits are low.
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Saporito, Bill
Full text: [Fortune] Dec 23, 1985
Scoring Big with the NBA
NBA Properties, the National Basketball Association’s marketing and promotions arm, has been turned into an ongoing, profitable business concern. This has enabled league commissioner David J. Stern to increase to 15 the number of NBA teams showing a profit. Stern sought out Adrian DeGroot to be president of NBA Properties, and DeGroot hired Bill Marshall as vice-president of retail licensing. DeGroot and Marshall created a catalog of NBA goods in 1983 after getting retailers around the country to carry NBA team merchandise. They found that 70% of total catalog revenue came from catalogs sent directly to fans, and they also found out what the fans preferred. In addition to the direct catalog promotion, they use 60- and 30-second commercials broadcast during regular season games. These spots prominently display the address to write for the catalog.
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Anonymous
Full text: [Zip Target Marketing] Jan 1986
Marketing Americana by Mail
Like most American museums, the Museum of American Folk Art (New York City) needs major funding. A fund-raising letter explaining various benefits of corporate membership accompanied by a 4-color, one-page insert depicting the interior of the museum was recently mailed to about 1,000 New York City corporations. This effort has netted 10 serious leads and one $5,000-level corporate member to add to the museum’s corporate membership. Through test mailings of 40,000 pieces last spring and fall, the museum also added 500 new individual members. New prospects are collected from museum guest books in the museum shops and from its traveling exhibitions. Although the museum has been in direct mail only about a year, almost $51,000 of its current $1.5-million budget is devoted to mail efforts.
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Santoro, Elaine
Full text: [Zip Target Marketing] Jan 1986
Targeting Markets in Consumer Banking
Many banks and savings institutions today face the problems being acquired or of acquiring others. In such cases, banks must improve their bargaining positions by improving their profitability. Many banks will find that a focus on dominating key segments of the consumer financial services market holds the most growth potential. Banks and savings institutions can establish a profitable customer base for the future by following certain steps, including: 1. Establish specific strategic objectives. 2. Analyze competitive weaknesses. 3. Promote key products based on customers’ needs. Customer information files can be used to target customers, and direct mail can be designed in such a way as to avoid becoming part of mailbox clutter. Telemarketing can be used to improve the response to direct mail. The results of each campaign should be analyzed, and the lessons should be applied to future campaigns.
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Roll, Richard J.
Full text: [The Bankers Magazine] Jan/Feb 1986
The Sales Scoreboard — How Does Your Computer Measure Up?
Although difficult, the decision to automate an insurance agency is necessary to promote a more efficient, profitable and competitive venture. The A. N. Lockwood Insurance Agency (Newton, New Jersey), seeking flexibility and expandability, purchased a Travelers/EBS Inc. turnkey system called EBS Independence. The initial challenge that faced the newly automated agency was the redesign of office space to accommodate the computer. Additional bookkeeping help posed another challenge, but using a part-time staff person shared with other EBS Independence users has been successful. Finally, the challenge of loading the database was met by using part-time cathode ray tube (CRT) operators who worked after hours. Lockwood’s system has helped improve customer service and allowed the creation of such new marketing activities as quick and efficient direct mail campaigns. One such campaign, promoting an IRA product, resulted in over 12% sales.
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Lockwood, Rod
Full text: [Rough Notes] Jan 1986
Telemarketing Campaign Produces 120-150 Prospects per Month
The Olde Cape Cod Insurance Agency Inc. (Hyannis, Massachusetts) uses the Redshaw Comprehensive Insurance System for complete policy file management, claims processing, accounting, word processing, and management reports. Using marketing ideas gleaned from one of Redshaw’s national user’s group meetings, the agency launched a telemarketing program targeted at the homeowner market. A prospect list was assembled using a telephone directory set up by street listings. The telemarketers’ telephone contacts were followed up by letters stored in the database. Direct linkup with E. H. Boeckh Co. lends speed and credibility to replacement cost analyses offered as personalized customer service. The telemarketing campaign generates an average of 120-150 prospects per month. The agency recently upgraded to Redshaw’s newest software, which includes a merging feature and the capability of sorting correspondence output by zip code.
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Daley, Michael E.
Full text: [Rough Notes] Jan 1986