Card marketing – It pays to be different
Financial services at last seem to be getting the message – it pays to be different.
It’s been a great week for reporting on financial services. First of all there are the ATMs in London’s East End which talk in Cockney rhyming slang and are dispensing bangers and mash instead of cash, and asking people to enter their Huckleberry Finn (PIN).
There is the bank in the US that has put a coin counter in its foyer and has attracted literally thousands of new customers, and then there is US card company Discover which is celebrating not only the physical benefits of their card products, but the emotional benefits too. Discover cards help their customers ‘experience joy”.
First the cockney ATMs.
In an inspired marketing ploy that has put the name Bank Machine onto the pages of most newspapers across the globe, Ron Delnevom MD has decided that London’s East End cash machines should talk to locals in their own language which of course is cockney.
Much to the surprise of customers who are not in the know, the machine option for cockney language can be chosen (rather than English, French, Italian etc) and it will prompt using rhyming slang. This includes a speckled hen (£10), while the machine may inform users that it is contacting their rattle and tank, rather than bank.
Delnevo said: “We wanted to introduce something fun and of local interest to our London machines.
“Whilst we expect some residents will visit the machine to just have a butcher’s (look), most will be genuinely pleased as this is the first time a financial services provider will have recognised the Cockney language in such a manner.”
The ATMs displaying prompts in Cockney are all free to use, although the majority of the group’s cash machines charge a £1.50 fee.
The rhyming slang prompts will be available from five cash machines in east London for an initial three months. Let’s hope they are so popular they remain there.
Discover the emotion of your credit card
In the US, Discover card company has begun a new ad campaign focusing on what consumers “get back” from their Cashback Bonus loyalty scheme – both literally and emotionally.
A spokesperson said: “The new ads are intended to portray the sense of optimism that many of our cardmembers seek, the everyday things that make them happy, as well as Discover’s cash rewards leadership.”
“The advertisements are a reflection of what our cardmembers have shared with us for years – how Discover’s cash rewards have helped them experience the joy that comes from the little things in life,” said Julie Loeger, senior vice president of rewards and brand management at Discover. “We are building upon our heritage of cash rewards by offering more program enhancements that enable cardmembers to make their money worth more.”
Discover’s campaign will include integrated broadcast and print advertisements. Running for four consecutive weeks, beginning Aug. 24, one 30-second and three 15-second “Get Back” TV spots will air interchangeably. The 30-second spot features three vignettes demonstrating what cardmembers might “get back” with their Cashback Bonus and each of the three 15-second spots features one unique story. The ads will run on programs such as “Good Morning America,” the “Today” show, “Medium” and “Lost,” and were inspired by actual cardmember testimonials.
A new brand element will be introduced in the opening and closing of the ads – a visual of a Discover card. The card rotates forward revealing the orange core, which then opens widely to showcase the first vignette. The closing brand cue provides another shot of the card as it rotates around and wipes the screen clear to reveal a distinctively recognizable tagline “It Pays to Discover.”
Seven print executions are closely integrated with the TV spots and also share a unique story, inspired by testimonials that capture what cardmembers might get back through their Cashback Bonus. Pairs of the ads rotating in publications will hit newsstands beginning Aug. 17. Print publications for this campaign include titles such as Newsweek, Better Homes and Gardens and Family Circle.
The “Get Back” print ads will continue to run in conjunction with the Discover “Right Now” ad, which is a 15-second spot that runs through October. The TV spot will focus on the grocery category of the 5% Cashback Bonus program which runs October through December. The other program categories – restaurants and movies – will be highlighted online.
The advertising was developed in collaboration with The Martin Agency and can be viewed at http://mcdpartners.com/discoveradvertising/indexq4.php.
Pennies lead to customers
TD Bank uses its penny arcades in bank branches to attract thousands of new customers. In fact in 2007 five million people went into its branches for the Penny Arcade service.
Based on totals for 2008, TD Bank says that consumers are using its free coin counting machines more and more. It says one New Jersey resident saved US$7,000 in coins to help his kids go to college.
TD Bank is also offering free ATM services to customers.
The bank says that Americans coughed up $4bn last year in ATM fees and often charges can be as much as $5 per transaction when they use an ATM outside of their bank’s network.
TD Bank says it even goes one step further and offers unlimited ATM surcharge refunds to check cardholders as long as they maintain a minimum balance.