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Archive for August, 2008

For those of you long-time followers, we shared this excellent example back on June 25, 2007 on The Story blog from Creative Brand Communications. It’s just so good that we were compelled to share it again for all you word of mouth fanatics.

At California Tortilla last year, if you could beat the cashier at a game of paper, rock, scissors (Rochambeau to those of you who like to sound like you can speak French), you’d get a buck off your entree.

This is great on so many levels:

  1. Super super super low tech—almost no training, ramp-up or prep time needed
  2. Gives people something everyone wants—a step closer to the metaphorical “free lunch”
  3. Anyone can participate, with very little (if any) explanation…it’s so simple!

And of course….you want to tell EVERYONE you know about it!

So…when was the last time your bank or credit union created a true purchasing experience that required fun, interesting and engaging interaction between your customers and employees?

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To kick off the PSST! blog, we wanted to give you a great example of a bank or credit union that has used word of mouth marketing strategies to create buzz. When Bank of America launched its Keep the Change program a while back, it became a great word of mouth marketing example for banks and credit unions everywhere to admire.

First, the concept for the service itself is extremely simple, and noteworthy. It’s easy to explain to your friends in a single sentence, and its unique enough that you want to.

Secondly, it’s really easy to do. Because it’s not an additional, separate product, you can apply it to your existing accounts without hassle.

Third, it incentives healthy behavior—saving. Because BofA matches your savings, up to $250 per year!

Last but certainly not least, the bank used a great, buzz-worthy guerrilla promotion to catch people’s attention and get them to participate—one of the key attributes to successful word of mouth marketing.
The bank placed giant couches in squares and malls around the country, sprinkled change under the cushions, and invited bystanders to dig for change.

Why was this such a great concept? Because finding change under the sofa cushions is a classic American metaphor for finding small amounts of money unexpectedly. It’s an experience we all can relate to, and one we’re all pleasantly surprised by. Using this as the concept for the Keep the Change campaign was an excellent promotion.

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Give people something to talk about, and they’ll do your marketing for you.

This is the simple premise upon which we’ve built PSST!, the galaxy’s first word of mouth marketing agency specifically for banks and credit unions. Welcome to PSST!, and welcome to a whole new approach to marketing for banks and credit unions. PSST! lets you:

  • Get better results with a lower budget (increased ROI)
  • Attract new members and customers
  • Differentiate from your competition

Here’s how it works. PSST! will help your bank or credit union develop a buzz of word of mouth through three primary services:

  • Making your company and the way you do business worth talking about
  • Turning your product and service promotions from ordinary to buzz-worthy
  • Creating, managing and measuring an ongoing word of mouth campaign on a monthly basis

So take a moment to add this blog to your reading list, and check out the PSST! website at http://www.psst-marketing.com.

Remember, you can outspend your competition, or you can out-think them. Your choice.

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