A Realistic Approach to Bank and Credit Union Advertising

by. Joe Swatek

Most ad copy I write promotes banks and credit unions and their products, and attempts to help them open more accounts. I describe the real advantages and benefits for the consumer as a way to convince him or her to choose the financial institution I’m promoting.

More and more, general ad agencies and internal marketing staffs take an unrealistic approach. They attempt to convince consumers that the financial institution is a “friend.”

We’re your great friend. Have a wonderful relationship with us. Let’s make a personal connection.

I read about Bank of America’s new campaign that presents the mega bank under a humble “Life’s Better When We’re Connected” theme. I understand what BofA is trying to accomplish with this low-key approach, but will the average consumer buy into the concept?

Whether it’s a large or small financial institution, a consumer doesn’t see the FI as a friend, colleague in life, or having a personal connection with the individual.

It’s not only banks and credit unions. Consumers seldom feel a personal relationship with other businesses. They don’t love a gas station. There isn’t a relationship with the supermarket. They don’t feel connected with their trash hauler or shop exclusively with only one department store.

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