ABA Banking Journal - August 2007 - (Page 10)

briefing The karma campaign came to the U.S. after its success in winning ‘the green vote’ among consumers in the U.K. and Asia and was recently extended beyond its planned end on June 1. The campaign uses slogans like: “Free business checking, good for business, good for the planet. Free checking, it’s good karma.” The rational part is that paperless statements are a requirement for free checking, which is good for the planet. “This isn’t Wall St.” Like many banks, NorthFork decorates its branches according to the neighborhood. Mary Ellen Georgas, New York-based senior consulting associate with Capital Performance Group, says, “It was not well received by some in the industry,” but it somewhat “opened the door” on more casual bank marketing. Banks just wanna be loved Asked what it is about banks that makes them inherently dislikeable, Recupero says, “If you look at the WAMU commercials, it’s how people thought about banks—the stiff and cold stereotype that’s developed over the years—that we are trying to break.” Laughing at the term, ‘unbankerly,’ she agrees it’s a good description of how a growing number of banks are acting and that it “absolutely” is part of these efforts to “get people to feel better about the brand in the same way a Starbucks would—to feel connected to the brand and that it understands the consumer’s experience.” Jennifer Wade, a young artist who exhibited at the art event at Commerce Bank, said that to her, “it was much more important than just making a donation, to see a bank engage with the community.” For several years we’ve seen many banks trying to look like stores versus fortresses, with behavior to match. Coffee pots and fireplaces, libraries and computers are variously offered as creature comforts. Banks began not to ‘quack’ like banks, so to speak. Citi, in 2002, introduced it’s ‘live richly’ campaign, covered at the time by ABA BJ. Citibank’s ads literally and otherwise suggested consumers should smell the roses rather than count their pennies. Want to stand out? Go guerrilla The land grab in New York City in recent years, as many regional banks have entered, makes marketing campaigns intensely competitive. “Until recently there were two dominant banks in New York,” [Citi and Chase] so new contenders had to go to extremes to distinguish themselves, Georgas suggests. Even within Manhattan marketing efforts are very localized. One attendee at Commerce’s art party, an actuary, who preferred not to be named, said, “It’s hard to imagine this taking place on the [conservative] Upper West Side.” Equally, Narciso defended NorthFork’s graffiti-styled East Village branch with the comment: “This isn’t Wall St.” Like many banks, NorthFork decorates its branches according to the neighborhood. In the same area, WAMU ran a brief campaign that some would label “guerrilla marketing.” Using the local convention whereby notices are stuck on street-lamp poles to casually advertise everything from peace demonstrations to apartment Sleight of mind By Lillian Nielsen Past solutions at ababj.com “B anker Bob”—May’s puzzle—did have an unusual vacation. He ended up walking to the North Pole, which is approximately 8,800 miles away from his starting point on the equator. The only correct answer to this tough puzzle came from Barb Sheets, operations supervisor, Central National Bank, Superior, Neb. Congratulations Barb! Thomas Byrd, also a banker, had just been transferred to Riverside, Neb., and was in the process of looking for a new home. A development he saw was very attractive. The main plot seemed to be a giant triangle, and the homes were rounded. The sultry days of August are a great time to sit out- doors and let your fingers do the walking as you solve this teaser. It is called: CIRCLES A circle of radius 1 inch is inscribed in an equilateral triangle. A smaller circle is inscribed at each vertex, tangent to the circle and two sides of the triangle. The process is continued with progressively smaller circles. What is the sum of the circumference of all circles? Send your answers in to: PUZZLES on our website: www.ababj.com. Be sure to include your name, title, company, city, and state, as well as any comments you wish to make. 10 AUGUST 2007/ABA BANKING JOURNAL www.ababj.com/subscribe.html PHOTO BY WENDY WILLIAMS http://www.capitalperform.com http://www.ababj.com/puzzle/winners.html http://www.ababj.com/puzzle/puzzle.html http://www.ababj.com/subscribe.html

Table of Contents Feed for the Digital Edition of ABA Banking Journal - August 2007

Contents Editor's Column The Unbankers Snapshot: Do Share Repurchases Signal More M&A Activity Sleight of Mind Goals Behind Proposed ABA/ACB Merger ABA Resources ABA Chairman's Position Should You Sell Those Nonperformers Pass the Aspirin Branch Design - Evoking a Sense of Place Two Banks Take the LEED Move Over, Buddy Service Feature: Bankers' Banks Directory Websites: What's State of the Art for Banks? Citi Mobile to Go Strong with iPhone? Date First, Marry Later Mailbox Banker's Mart To Advertise/Index of Advertisers The Economy

ABA Banking Journal - August 2007

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