Financial Services Industry
Industry: Email Alert RSS FeedWhen should you try guerilla marketing?
ABA Bank Marketing, March, 2005 by Cary Hatch
Q: How can guerilla marketing help my bank achieve its communications goals? When is it an appropriate strategy?
A: Guerilla marketing includes any activity that uses a means other than traditional media to communicate your bank's name and positioning to your prospects. Also called "extreme marketing," "grassroots marketing," or even "feet-on-the-street marketing," a guerilla campaign has no preset rules or boundaries. As such, guerilla marketing can work for banks of all sizes. If executed properly, a guerilla campaign can be a low-cost, high-impact way to connect with your prospects, introduce your name or remind customers you're still here.
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Guerilla marketing can be particularly effective when faced with the following challenges:
When you need to impact a spot market. To promote its "Orange" online banking solutions, ING Direct waged guerilla campaigns in the metropolitan regions of Boston, San Francisco and Washington, D.C. In Washington, for the duration of one winter morning commute, ING Direct sponsored rides anywhere on the rail or bus networks. Orange-clad staff leafleted passengers as they passed under orange banners, through orange fare boxes and by orange lightbox diorama advertisements. To drive home its message further, the company placed ads in subway cars and on the sides of buses. The event grabbed the attention of immediate prospects and generated extensive media coverage.
When you're trying to create networks of influence. Consumer research indicates that high-profile consumers--also called "influencers"--will affect the purchasing decisions of 70 percent of their peer groups. Commerce Bank, which operates in four Mid-Atlantic states, used guerilla tactics to attract influencers to its branches with its "Have It Your Way" campaign. Commerce branches hosted catered open-house-style events to alter perceptions about how banks operate and to introduce prospective customers to its seven-day branch banking services. The guerilla effort garnered publicity for Commerce's unique banking approach and helped the bank further differentiate itself from its competitors.
Your customers expect to be targeted by advertising on a daily basis, but they most likely don't expect to witness or participate in a guerilla marketing event. This element of surprise may well be guerilla marketing's greatest asset: It catches prospects off-guard for both high impact and high recall. Just as important, the element of surprise can be used to extend a traditional ad campaign by reintroducing your marketing message in a totally new context.
Guerilla marketing isn't a "silver bullet" providing a single solution for every need. However, it has proven itself to be a valuable communications and outreach tool. And in today's noisy environment, the splash of a guerilla marketing effort may be the right way to cut through the clutter.
Cary Hatch is president and CEO of MDB Communications, a full-service advertising, marketing and public relations firm in Washington, D.C., telephone: (202)728-0132; e-mail:
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