More Bang for Your Buck
Financial businesses, like banks and credit unions, thrive on keeping a faithful customer base. Part of maintaining a loyal clientele is to give them something to not only remember the name of the business, but also to encourage them to come back. Promotional products can be an effective method of advertising for financial institutions and keep their names visible for a long time.
Giving away items, such as water bottles, keychains, pens and stress relievers, allows end-users to hang onto these items and use them on a regular basis. This makes clients’ logos visible in the house, and it promotes customer loyalty. Promo Marketing spoke to a supplier and a credit union to gain insight on how to sell to financial institutions.
Usability is key
Robyn Majzner, vice president of Mineloa, New York-based Essef Distributors, said that banks do well by using universal promotional products, not simply using items specific to finance.
“Banks like to offer universal products that are great for all ages,” Majzner said. “They tend to set up booths at a lot of local shows for all industries—boat shows, housewares, utilities, fairs, carnivals, colleges and much more. So the more universal the product, the better.”
Majzner noted that products that are taken home and reused are the most effective products. They keep the business name visible within the house, and for items that can be used again and again on a regular basis, they create even more exposure for the company. “They give the end-user something useful to take home with them,” she said. “It is a great branding opportunity. They may also offer promotional items as raffles or gifts for signing up with them.”
Marcella Strittmatter, executive administrative assistant at Sb1 Federal Credit Union in Philadelphia, handles community outreach and promotional items for the credit union. She said that people remember items they receive at the bank. “If you have a quality product, people remember that,” Strittmatter said. “We’ve been using our pens for as long as I’ve been here—at least five years. People remember that they work. It’s a quality product that people remember.”