Befriending the Bank
"Know your product," said Scott Pearson, vice president of merchandising for Sweda Company LLC, City of Industry, Calif. "Know everything there is to know—physical attributes about the writing instrument, what makes it a good/bad product, the quality of the product, the internal mechanisms (click or twist)," he explained. "You want to know these things so you can speak to how 'high quality' the product is and how it fits into a budget."
Ideas For Use
Pearson stated that because pens are lightweight, they're easily used in in direct mail campaigns. Schnier recommended tying the promotion into a larger marketing message the institution is trying to convey, such as having great customer service or easy online banking. She provided a hypothetical example where a pen that uses wash-proof ink, such as Sanford's Uni-ball 207 Gel, pictured [above], could be used in check security demos. The ink in the pen is impervious to a fraud practice known as check-washing, where defrauders seize completed-yet-uncashed checks, chemically wash the ink off the desired fields, and re-enter the information they want. "Institutions across the country are conducting seminars on identity theft prevention," she said. "Each participant [could be] provided with a sample of the pen with the bank's logo and experience the impact that this simple promotional item can have on his or her everyday life."
With the continued rise of e-commerce and home banking, electronic items are becoming more and more prized as financial promotions.
What To Pitch
When it comes to money, everyone wants to bank with the smart kid, and high-tech items are a great help in cultivating that image. "These products can help show a financial institution is savvy, technologically driven and a place you want to keep your money," said Pearson.
What To Know