Editor's Note: The Super Bowl is one of the largest sporting events in the world. Inevitably, every year, The Super Bowl creates a moment that is talked about for the days, weeks to come and become Super Bowl folklore. Marketing can also have moments like these. In this blog, we discuss three different ways in which financial institutions can score that Super Bowl moment for their bank or credit union.
Every Super Bowl has THAT moment. From Julian Edelman's catch last Sunday to David Tyree's "helmet catch" in Super Bowl XLII to the tackle one yard short of the goal line in Super Bowl XXIV - there seems to be a moment during these type of sporting events when the action turns from the ordinary to the extraordinary. Marketing, also, has moments like these.
Here are a few areas to think about when looking to score a Super Bowl moment with marketing campaigns for financial institutions.
1. Make Them An Offer They Can't Refuse
We've all seen or gotten the offer of "Open an account with us today and receive (fill in the blank)." Usually, it's a small sum of money in the form of a gift card, the ubiquitous blender or toaster, a branded piece of luggage, etc. Undoubtedly, some will take this bait, but for most consumers, offers like these have become the norm and will barely cause a head turn. There are always ways to break through that clutter without dramatically increasing the budget.
For example, appeal to the growing
2. Go Viral
By definition, viral is "an image, video, advertisement, etc. that is circulated rapidly on the Internet from one user to another." For most of us, when we think of a viral marketing campaign, we might think of the E-Trader babies, Oreo's timely blackout ad on Twitter, or American Greetings' World Toughest Job video. While these examples are all on a national stage, creating viral marketing campaigns at the local level is more than possible. The trick, of course, is being prepared for that event at a local level that lends itself to the viral phenomenon. Some events are easier to forecast than others - e.g., the local team winning the championship. However, often the things that "go viral" are not predictable in advance - e.g.; surely whoever posted the first cat video" on a social media site did not imagine the one-day such content would be so popular (strangely) with people.
The key is thinking about how to leverage viral type occurrences in terms of the details and the benefits. In the case of a big event on a local scale that can reasonably be predicted at a point in time (the local team winning the championship), planning can be done in a very detailed manner. In the case of events that may not be predictable, planning must be general. If a financial institution has the skills required in its marketing department, then creating its own viral event is not beyond its capabilities.
3. REALLY, Understand Your Target Market
We've all heard the saying, "You can't be everything to everyone." For financial institutions, this could never be truer. When working with the various diverse groups that banks and credit unions do, it's crucial that marketing teams have a deep understanding of each group. As we've discussed in previous blogs, financial institutions are collecting more information about current customers and even potential customers than ever before. Understanding and leveraging this data can be the difference between a successful campaign and a campaign that completely flops.
Today with a majority of marketing being in the digital realm, it has never been
Seen or created a Super Bowl moment in the form of a marketing campaign? We would love to hear about it. Share in the comments section below and we will publicize the top 10 in a later post.