But Wait! There's More!

They are marketing's used car salesmen, but they work!  They make you question your sanity when you pick up the phone, but you make the call.  We've all fallen prey to them at one time or another ... the infomercial.

When we can't sit through a 30 second ad, what is it about this scourge of media that makes us sit through a half hour of "too good to be trues?"

I'm not saying that, as respectful marketing professionals, we should don the plaid jacket and start yelling at our audience.  But, I believe that there are lessons in everything.  And, since these 30-minute scream-fests seem to work, there are lessons we can learn from them as well.

What makes infomercials so damn successful?

Identify a Problem or Need
They may invent a need that I didn't even know I had, but man do I need a kitchen knife that can cut through an aluminum can!

We are all in business for a reason and that's because we represent a better mousetrap. If we didn't, we'd fold-up shop.  Especially my credit union and bank readers!  Most days, our members want us to just not screw up ... clear their checks and make sure that their balance is what they expect.  But when they need us, they REALLY care about us.  We are their gateway to that new house, new car or retirement! It should be no problem at all for us to identify a real problem or need.

Get Their Attention
Whether it's a Shake Weight, the Magic Bullet or the George Foreman Grill, people talk about infomercials.  Maybe it's because the product is so darn amazing or maybe it's just because that Sham Wow guy is so psychotically excited.

Have you seen most credit union and bank ads?  A little psychotic enthusiasm wouldn't hurt us!

Provide a Clear Promise
It's not that the product "melts" belly fat, it's about the way your spouse looks at you and the confidence that you now have.  The BENEFIT isn't in what the product does, it's in how the product makes you feel.  We need to remember that ... FREE checking is NOT a benefit.

Infomercials also make a clear and convincing case for the benefits that they offer.  Often through testimonials or before-and-after examples.  As financial institutions, we change people's lives every day. It should be no problem sharing how we can help others.

Strong & Immediate Call to Action
This is the cornerstone of all infomercials.  I've seen the same juicer offer for 3 years now that says I need to call in the next ten minutes!

If we've made a clear case for why they should choose us over the competition than we are doing the audience a dis-service if we don't encourage them to come in today.  Every minute they don't bank with us is another minute of misery.

Provide a specific, relevant offer and create a sense of urgency.

With a little more infomercial in our efforts, maybe we too can have our audience sit through our spots, be inspired to pick up the phone and create a little buzz.

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With nearly 195,000 visits worldwide, we hope that you enjoy this blog.  If you find it helpful, please share it with your colleagues.  Also, check out our YouTube Channel for short video blogs about financial marketing.  

We bring these marketing philosophies to credit unions and community banks nationwide, and would love to bring them to your institution too.  Contact us to see how.

MarketMatch is also a nationally and internationally requested speaker.  Contact us to bring our marketing ideas to your next conference.

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937-426-9848

We're like the iPad - so lets learn from Apple

 The iPad is an amazing tool!  You can:

• Put video in your newspaper or audio in your magazine
• Watch movies
• Incorporate video into a phone call
• Join a classroom from anywhere
• Have access to countless books
• Learn about anything 

How do you communicate everything that this miracle of technology does in a 30 second spot?  Focus on the benefits:

• Enhance your reading experience and be more interactive
• Hold a movie theater in your lap
• Get closer to those you love
• Make learning easy
• Hold an entire bookstore in your hands
• Interact with your environment

See how Apple introduced the iPad 2 and accomplished all of this in 30 seconds here. 

If you think about it, we are the iPad of the service industry.  We can do anything ... We help manage peoples money!  If it’s at all important to a customer, we are the gatekeeper!

• Save for the future
• Buy whatever you want now and pay over time
• Access your money any time from anywhere
• Manage your money and balance your budget
• Keep your assets safe

(Note: I do not mention price anywhere here - neither did Apple.)

Your challenge for today … say all of this without saying any of this!  Take these features and talk to your target in terms that effect their lives.

Let us know how you do by replying to this blog.

Have fun.

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MarketMatch is a full-service marketing firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate the greatest  MOMENTUM for your organization and demonstrate RESULTS with our written ROI Guarantee.

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937-426-9848

Sell to the Benefit - e-Statements

Think about the information on your bank/credit union statements ... name, address, account numbers, spending habits. Now think about this information being left - unprotected - in an outside mailbox.

Pretty scary stuff, huh?

With e-statements, you remove one more worry for your customers to protecting their good name.

And your bank/credit union will save from printing paper statements every month.

"Saving a tree" is nice, but selling to the security benefit for e-statements will really speak to your target.

Sell to the Benefit - Debit Card & Online Banking

When your customers use cash, the ability to track it seems to go up in smoke!

But, when they use a debit card for everyday purchases, they can track every penny right from their home computer using online banking.

Your customers can better track how much they spend on coffee, restaurants, gas, or anything at all ... and get a better handle on their budget.

And you will enjoy more loyal customers with 2 additional key products ... thanks to basic product bundling and selling to the benefit, rather than the feature.