Bank Promotions Big Prize Buzz Factor

Banks are always looking to drive traffic. If you can get more visitors into your bank, you can sign up more new accounts. Big prizes work to drive traffic. But you don’t have to put next month (or next year’s) marketing budget at risk with a big prize offer.

Promotional prize coverage is the tool fix that cost so you can focus on the creative aspects of your promotion. Give away $50,000 in home furnishings. What about a chance at an instant $10,000 in your account? You can actually come up with whatever idea you can think of that involves a big prize or cash amount, and design a promotion around that. Here’s a quick video that shows how to incorporate big prizes into bank promotions.  . .

Four Ideas for Bigger Bank Promotions

It’s a constant challenge to create new and unique campaigns that bring in new customers. Offering chances to win big money makes perfect sense for banks. Shareplus Federal Bank’s recent campaign for example, brought in over 500 new customers. How? In part by dangling a chance to win $50,000 as part of their big 50th anniversary.  But how do you do it? Here are a few simple ideas for incorporating a big offer into your marketing efforts.

Super Size Your Spiff (any objective)

Lots of banks offer an incentive to open an account. How about offering a chance to multiply that incentive by 5, 10, 20 or 100 times?  Supersizing the prize will help you turn more heads and get attention so you have an opportunity to get your message through.

There are a number of ways you can offer the prize but the easiest way is to give the prospect or customer a code that’s redeemable on line. The code itself can be printed, distributed in an email or included in broadcast or direct-mail media. Printed cards are handing for leveraging your events and sponsorships. Unique pass phrases for each event will help you track the effectiveness of your event marketing activities.

The online prize fulfillment offers opportunities to collect a little more information from the prospect and present some additional on your solution such as a video, a Flash presentation or simple HTML. This message could be customized by the Passphrase that’s entered. For example, maybe you have multiple locations. The Code entered could be keyed to specific locations, displaying unique content for each.

The visitor completes this page, clicks next and the prize result is displayed. The prize displayed could be the grand prize, or one of a number of secondary prizes or discount offers. A confirmation email is delivered to the contestant.

Conversion to Electronic Statements

The same mechanic used for the Spiff promotion also works here. Drive consumers to a promotion page, enter the code and watch a short presentation on the benefits of e-billing. Interested prospects could complete a short form that sends a link in an email to sign up for e-statements.  Also the thank you page that displays after the prize result is shown could take the consumer to e-statemement sign-up page.

By using a promotion-specific landing page, there is no need to impact the client’s current website, reducing the complexity of the program.

Win Free Samples! (any objective)

Who doesn’t want to win free samples from a bank! This is a great theme that can use the same “prize code” mechanic as outlined above.

Let’s say the offer is something like ”come by the branch to win free samples.” You could have prospects come into the bank, and use an online promotion page to fulfill the prize, while the customer is sitting in front of you. You just log on, enter the prospects “promotion code” and their prize is instantly displayed.

SCA’s gameZizzle platform is a good fit for this type of promotion where you are in a retail or event setting and need an instant prize result.

Television Station Drives More Traffic With Prize Promotion

KOLR TV in Springfield, Missouri was looking for a new and creative way to promote two sponsors, Sport Boats USA and Marshfield Chevrolet, while also advertising their upcoming Spring sales period. 

Using the traditional drivers license match format, KOLR incorporated an interactive component allowing all three groups to compile a targeted marketing database, extend their online presence, and create buzz with a big prize offer.

In support of the program, KOLR issued an email blast with sponsor sale information, a promotional video, and a link to win a $100,000 Sport Boats USA / Marshfield Chevrolet shopping spree.  In order to win, customers followed the $100,000 link to a sweepstakes page.

After submitting required demographic information and answering a series of marketing questions (Do you plan to purchase either a car or boat in the next six months?), customers received entry notification and an email voucher directing them to any participating Sport Boats USA or Marshfield Chevrolet location to match their drivers license for the chance to win. 

At these locations, contestants redeemed their entry voucher to determine if their drivers license number was the winning match.  In the event of a seven digit match, SCA pays out the $100,000 prize. Overall the promotion:

  • Delivered an easy to play, familiar format of a drivers license match promotion
  • Allowed sponsors to compile a marketing database of targeted customers as opposed to the blind leads generated with a traditional direct mail campaign
  • Increased online presence across multiple sites
  • Incorporated multiple sponsors into one easy to play promotion
  • Offered the buzz-power of a large prize amount at an affordable rate
  • Provided a new, interactive format to engage customers tired of standard promotion formats

This is a simple type of promotion to implement, especially if the television or radio station is handling media production. Leverage the advertising campaign through

The Wolf Million Dollar Twitter Promotion

Dallas Radio Station 99.5 The Wolf offers up the big money in a first ever $1 million Twitter Song of the Day contest. Through September 4

To qualify, listeners tune in to The Wolf between 8/31/09 and 9/4/09 and listen for the Twitter Song of the Day.  After registering on Twitter and following The Wolf at http://twitter.com/995theWolfDFW, listeners must tweet the appropriate response after hearing the daily Song of the Day.

Each day, The Wolf awards concert tickets to ten contestants.  At the end of the Song of the Day contest, one grand prize finalist is selected to play for $1 million.  To become an instant millionaire, the grand prize finalist must correctly predict the final score of the Dallas – New York football game on September 20. Here’s the promo spot:


Powered by WishList Member - Membership Site Software