Idea Bank.

Reader's Guide:

Our "Idea Bank" showcases recent examples of advertising and other marketing products from financial institutions of all sizes and locations in the United States. Browse through this section to spark your creativity for your marketing efforts. Included in each issue are some of the winners of the most recent Advertising Awards Competition sponsored by the ABA Marketing Network. The names of advertising or communications agencies are included where appropriate.

Multimedia

AWARD

ABAMN 2003 AD Awards Contest

First Federal of Michigan Name Change

Institution: Charter One Bank, Cleveland

Assets: $43 billion, 580 locations

Agency: The Arras Group, Cleveland

Although Charter One acquired First Federal of Michigan in 1996, it was not able, for legal reasons, to change the name until 2002. When the change was finally possible, Charter One wanted to overcome customer and employee apprehension about the switch while winning new-name recognition. Additional, Charter One wanted the public to perceive that the move was a "name change" only--not a recent bank takeover.

The bank and the ad agency planned a campaign that created a celebratory mood around the change to encourage a feeling of fun, enjoyment and reassurance that this was only a name change: All products services and people would remain the same. Plus, there was the added bonus of having more advantages with Charter One at the helm.

The main elements of the campaign included outdoor billboards, newspaper print ads, a 30-second TV spot and direct mail postcards in the Grand Rapids area. There was also a Volkswagen "Bug" promotion and three event sponsorships.

The campaign had several successes. For one thing, Charter One opened $427 million in Energized Checking accounts, far surpassing the campaign goal. In one month alone, more than 1.3 million entry forms were submitted for the VW Bug event.

The campaign budget, excluding media buys, was more than $1 million.

The agency's advice for marketing planning similar campaigns is to start planning early. "We began planning for the name change at the beginning of January, even though it wouldn't official go into effect until mid-August," says a spokesperson.

Outdoor Single

Objects in Mirror

Institution: Fidelity Federal Bank & Trust, West Palm Beach, Fla.

Assets: $3 billion, 41 locations

Agency: Wilesmith Advertising-Design

The bank launched a multimedia campaign promoting its many locations and the ease of finding a branch in South Florida. Outdoor billboards were used as one part of the campaign.

Billboards in close proximity of the branches were purchased. Since billboards target consumers in their automobiles, the campaign designers decided to co-opt an expression that is recognizable to anyone who has ever driven a car, i.e., "Objects in mirror are closer than they appear." This line was used to "drive" home the key message of convenience banking. The overall campaign was conducted for one year. The bank showed a consistent pattern of growth during that period.

"Match the message to the medium in a way that resonates with the consumer" is the advice of Margaret Wilesmith of the agency.

TV Single

Sync Swim

Institution: First Tennessee Bank, Memphis

Assets: $18 billion, more than 200 locations in Tennessee

Agency: Thompson & Co., Memphis, Tenn.

This was one of a series of TV spots that was part of a 12- to 18-month branding campaign. The goal was to promote brand awareness of the fact that the bank was capable of handling all of the customer's financial needs: deposits, loans, IRAs, investments, insurance, and so forth.

The bank measures ad awareness and preference for all of its mass media advertising. Customers showed an increase in awareness and preference after this ad ran.

Print Single

Last Time You Had This Much Free Stuff....

Institution: First Tennessee Bank, Memphis

Assets: $18 billion, more than 200 locations in Tennessee

Agency: Thompson & Co., Memphis, Tenn.

In an effort to acquire new checking account and online banking customers, First Tennessee developed a campaign to position the bank as a "price player" by promoting a number of free bank products and services. Campaign creators decided that they needed an eye-catching approach conveying the idea that First Tennessee was not an expensive bank and that "If you're going to get something for free, why not get it from the best financial institution in the state?"

The bank reported "a significant increase" in deposits and online banking customers following the five-week campaign.

Radio Single

Promotion

Institution: First Tennessee Bank, Memphis

Assets: $18 billion, more than 200 locations in Tennessee

Agency: Thompson & Co., Memphis, Tenn.

This radio ad was part of First Tennessee's five-week campaign to acquire new checking account and online banking customers (see print ad on page 9). Radio ran for the campaign's final three weeks.

Television Series

Hometown Banking

Institution: TowneBank, Portsmouth, Va.

Assets: $931 million, 9 locations

Agency: Hambright, Calcagno & Downing Advertising and Public Relations, Virginia Beach, Va., office

This image campaign used the bank's chairman and CEQ, G. Robert Aston Jr., to discuss TowneBank's hometown banking philosophy. This approach allowed the chairman's reputation and prestige to reflect positively on the bank. A secondary aim was to raise awareness of the mortgage and insurance divisions. The spots ran for more than two years on six cable TV channels.

Print Series

BEST OF THE BEST AWARD

ABAMN 2003 AD Awards Contest

Community Sponsorship

Institution: TowneBank, Portsmouth, Va.

Assets: $931 million, 9 locations

Agency: Hambright, Calcagno & Downing Advertising and Public Relations, Virginia Beach, Va., office

These ads were part of an ongoing series that the bank created to promote its values and community involvement Each ad is customized and is used to support a wide variety of local organizations, including charities, foundations, schools, hospitals and children's athletic teams and programs. Each ad focuses on core human values and ties in to the bank's hometown-oriented strategy. The series runs mostly in monthly publications as well as publications containing sponsorship ads for charities.

For others contemplating a similar campaign, Star Oliver at TowneBank recommends looking for what the bank stands for and then promoting that value. "If another bank has strong core values with a commitment to community involvement, it should determine what charities or organizations to support by looking to what is important to its customers and employees."

Newsletter single

TowneToday

Institution: TowneBank, Portsmouth, Va.

Assets: $931 million, 9 locations

Agency: Hambright, Calcagno & Downing Advertising and Public Relations, Virginia Beach, Va., office

The bank created its newsletter as a high-quality information source for shareholders, members, employees and the media. The goal was to cultivate a sense of belonging among all these groups by informing them about the bank's growth, people and activities. The newsletter, which is published three times a year, also communicates community news and news about members.

A readership survey that received more than 1,600 responses indicated that 61.3 percent of readers rated the overall newsletter as "excellent."

"Utilize the great things your company is doing and communicate it in a way that will draw your customers in," is the advice of Starr Oliver at the bank. "Engage them and make them feel proud to be associated with you."

Radio Script: Promotion

Background office noises.

Man #1: You wanted to see me, sir?

Man #2: Come on in, Jackson. Have a seat. Great news!

Sound of the door shutting.

How long have you been here? Ten, fifteen years?

Man #1: Well, actually, I'm one of the new $20s, sir.

Man #2: And a good one. That's why I'm promoting you. How would you like to work for free?

Man #1: Work for free? Even on the weekends?

Man #2: Yep! For free.

Man #1: What about holidays?

Man #2: Sure, why not? Work those for free too.

Man #1: Wow, I could get used to that!

Man #2: I thought so.

Announcer: From now on, your money is going to be working even harder at First Tennessee. That's because our most popular services are free, like free perks with priority choices checking, free financial advice, free online banking and now free online bill pay. With so many free services at First Tennessee, your money has never worked this hard before. To get your money working harder, call or stop by a First Tennessee financial center or visit us at firsttennessee.com.

Man #1: Sir, I know some $5s and $10s back at the vault that would also love to work for free.

Man #2: Really? Send them in. I'll be sure to tell them it was all your idea. Huh!

RECEIVE RECOGNITION FOR YOUR CREATIVE WORK

Have you produced outstanding marketing materials that deserve peer recognition?

One of the best ways to achieve that acknowledgment is to submit entries to the annual Advertising Awards Competition sponsored by the ABA Marketing Network.

Each year a panel awards prizes in the categories of television, radio, print, outdoor, web-site/e-commerce, direct mail, public relations, annual reports and multimedia.

Financial institutions in each of four asset categories are eligible to receive awards. Both financial institutions and their advertising agencies can submit materials.

In 2004, winners will be presented at the ABA Marketing Conference, Sept. 12-14, 2004, in Scottsdale, Ariz.

For more information about the competition, contact Barbara Payne at the ABA Marketing Network, 1120 Connecticut Ave. N.W,, Washington, DC 20036-3971. Toll-free telephone: (800) BANKERS, extension 5283. Fax: [phone]. E-mail: [e-mail].