Marketing Goal
Build traffic and sales when opening a new branch, moving or remodeling an existing office, or for a location that needs to have extra sales support.
Target Market
WordCom would start with the street address of the branch and create a market area map for the bank’s review and approval. Then we would use our list sources to select the best mix of targeted households for the program. Depending on the area, it could be all households within a few miles of the branch — or age and income selections of a wider area.
Program
People are willing to visit a new bank location under non-threatening conditions to see if they are instant winners of an attractive prize. This is the simple concept that has made our Traffic and Sales Building programs a success for financial institutions around the country. WordCom provides all the elements for these proven marketing programs:
- Winning Key: The most popular Traffic and Sales Builder, where targeted prospects receive an envelope with a personalized letter describing the promotion and prizes. Attached to the letter is a real metal key. The prospect is encouraged to bring the key into the branch to try and open a treasure chest to see if they are an instant winner.
- Winning Number: The prospect receives a personalized letter or postcard with a computer-generated number that they bring into the branch to see if it matches the winning numbers posted in the branch.
- Winning Combination: In this promotion, the prospect receives a personalized letter or postcard with the combination that may open one of the locks on the treasure chests in the branch.
- Foreign Banknote: Another twist on the Winning Number concept, the prospect receives a personalized letter with an authentic foreign banknote. This real money has a unique serial number which they match against the winning serial numbers posted in the branch.
- Scan 'n Win: The prospect receives a personalized letter with a game card included in the package. They are then encouraged to come into the branch to scan the card through a machine to see what prize they may have won.
- Scratch 'n Win: In this variation, the prospect's game card is a scratch off piece included with a personalized letter. The recipient must scratch the game piece in the branch to see which prize they may have one.
Results: While the average direct mail campaign for a bank would bring in .5% to 2% in replies from prospects, these proven programs have continually brought 5% to 10% of the targeted prospects physically into the branch! When combined with our cross-selling strategies, there can be significant increases in deposits and new loans both in the short and long term. And the turn-key program comes with a detailed sales tracking report to show actual results.
Case Study: Key Promotion 1 »
Case Study: Key Promotion 2 »
Case Study: Key Promotion 3 »
For a complete listing of all case studies click here »