Bank marketers, take note of Australia’s Individuum. They’re individual, irreverent and marketing to Gen X & Y.

I like these guys. I like their look. . . and I’m not even in their target market – geographically or age-wise! I like their message. While they are not a bank or credit union, Individuum has something to teach bank marketing departments. Individuum is a financial services firm targeting what Australians call superannuation. That’s a compulsory pension plan whereby employers are required to pay a percentage of an employee’s salary into a superannuation fund.

The firm is young, barely a year old. Here’s how their website characterizes Individuum. . .

“Individuum was conceived at the end of 2007, when a group of us agreed that younger investors weren't being 'looked after' by many of the big banks, fund managers or superannuation providers. Sadly, most of the financial products on the market are still being targeted towards Baby Boomers who are on the brink of retirement. But hello, that's not right!!! What about younger investors???

As one of Australia's few young investor focused superannuation providers, we've set out to create an offering that is relevant, easy-to-understand and more in line with the needs of people in the early stages of the investment life cycle.”

Their website is as individual as a fingerprint. In fact, it literally bears that imprint. Besides three different website blogs, a Facebook page and Twitter followers, the firm has launched an Academy of Dreams, a sponsorship program that hopes to uncover musical artists, athletes and educational causes that require, as Individuum says, “a little. . . .well. . .ummm. . . help (if you know what we mean).” And, Individuum promises to educate its customers. . . a favorite goal of mine.

Even their behind-the scenes look at their “team” is ingenious with irreverent profiles of “The Boss”, “The Strategy Guru”, “The Marketing Check”, “Desk Jockey”. . .

Surf their website. I hope you’ll be impressed as I was. And, hopefully, you’ll take away some ideas on how to connect with your younger banking customers.

Fifth Third "dreams" of quelling consumers concerns.

Fifth Third Bank, based in Cincinnati, has launched a program called Dream Guard. The program is intended to help quell consumers concerns about the economy. In-branch brochures and website tips and tools explore ideas on talking to kids about the economy, dealing with stress, following a budget and selling a home in a buyer’s market. According to a press release, the bank wants to “help consumers save more, spend less and guard their dreams.”

In the release, Terry Zink, executive vice president and head of Retail and Affiliate Administration, noted that

“we wanted to take this opportunity to be more proactive and enhance our planning tools to help our customers stay true to their long-term goals and dreams. Now is the time to act, and the Dream Guard initiative provides us with the opportunity to remind consumers that Fifth Third Bank is here to help.”

This is the second campaign of this nature for Fifth Third. Earlier last year the bank initiated “You Have Options”, a campaign to educate and communicate with customers who may be having difficulty making mortgage, credit card or other loan payments.

Having developed and written kids’ savings newsletters, I do like the 10 points listed in the bank’s Talking to Your Kids About Finances. It’s probably the best and strongest of the Dream Guard features on the Fifth Third website.

Readers & employees respond to Wells Fargo “Las Vegas” blog post.

I have been counseling my clients on the power of the blog and how customers & prospects can campaign for and against their services using the electronic word. While blogs like the Moleskinerie can be a love fest for the product (in that case a simple notebook), other blogs can spew venom about a company. I tell clients that, in either case, they need to be aware of what is being said about them. . . whether it’s from customers or employees.

Wells Fargo has been proactive in the blogging department. And, yesterday’s post in The Wells Fargo-Wachovia Blog, carried the headline “Wells Fargo Responds To Misleading Reports About Team Member Recognition Events.” They issued a very corporately-worded news release defending the bank’s position on the Las Vegas recognition event. And, what followed were a number of comments from readers, including some employees. In fact, some of the employees began arguing with respondents. This unfortunate exchange only compounds the PR nightmare for the bank and further angers the public. One respondent remarked to an employee, “shouldn't you be thankful you have the job and not like one of your fellow co-workers that have been laid off?”

blog.Truebridge picked up on the same Wells Fargo post and had this reaction, “Wells should be careful that their employees are not arguing with the customers who are responding.”

Wells Fargo does request that employees identify themselves in the interest of full disclosure. With the exchange that took place on the Wells Fargo blog, should bank marketing departments forbid or control employees’ access to commenting on the blog? Or, are employees foolish for even posting a comment, especially if it's negative? Is it similar to high school students posting photos of themselves engaged in illegal activities in which they're asking for trouble?

But back to the bank’s handling of the initial response to the event. I’m in the unusual position of having planned incentive programs with vacation awards to even more exotic places than Las Vegas (although not for Wells Fargo and not in the current economic environment). I understand the pros and cons of sponsoring such events for employees. But in this case, with the negative press (whether right or wrong), my PR brain tells me I would have issued a simple statement. A three word statement just as President Obama did concerning his problem with cabinet appointments. . . “I screwed up.”

ING Direct promotes savers’ pledge on microsite, YouTube & Facebook.

ING Direct wants citizens to step up and be counted as a saver! In fact, they’ve literally installed a counter on their “We, the Savers” microsite which tallies the number of visitors who have signed their online “Declaration of Financial Independence.”

The 10-point declaration asks savers to pledge that they’ll adopt good savings and borrowing habits, remember what matters, take care of possessions, and finally, be heard by government representatives. Visitors can also check who are their fellow signees and the states in which they reside. The site also includes a poll, forum, video and other interactive options. We, the Savers campaign was launched the day after Thanksgiving, along with visibility on YouTube and a Facebook page.

Arkadi Kuhlmann, CEO of ING Direct USA, commented that "with ING Direct's online tools, savers can see the real advantages of saving and pass along the knowledge to people in their online networks. Since reversing long-term spending habits can be difficult, ING Direct has made saving as straightforward and informative as possible for new savers and investors."

I applaud ING for their efforts to promote savings, albeit the approach advances their primary business. It’s definitely a step that a lot of financial institutions haven’t followed in the past. . . encouraging and educating their customers about good financial habits. Hopefully, more CEOs and bank marketing departments will follow ING’s lead and take their own pledge to consumers.

Bank considers recession when producing TV commercial.

Central Pacific Bank launched a new TV campaign yesterday, February 1st, in its home state of Hawaii. Rather than flashy video, the bank marketing department chose to features nostalgic black and white scenes which depict the dreams of the bank’s first customers. According to a statement in Pacific Business News by Andrew Rosen, Central Pacific’s chief marketing officer,

“In this economy, while we’re in a recession, it’s even more important to emphasize the ways we help people in the community.”

A news release from the financial institution noted that “the message reflects our roots — founded by World War II veterans to serve working folks.”

Incidentally, the bank has a very unique history. The bank was founded by WWII vets (second generation Japanese American war heroes) who found themselves with limited opportunities in Hawaii after the war. They met over fifty-cent plate lunches and founded the bank.

The launch coincides with a unique exhibit of rare World War II memorabilia to be on display in March at Central Pacific Bank’s Main Branch in downtown Honolulu. The display of artifacts and photos honor the legacy of Hawaii’s veterans; some of whom were founders of Central Pacific Bank.

Central Pacific Bank has adopted the marketing tag line. . . “Work. For You.”

Will other bank marketing departments take the economic downturn into consideration when producing campaigns. . . or will it be business as usual? This was considered in a former post, "How do you combat negative headlines?"

Position yourself as a small business bank & promote your credit card, too.

Bank marketing execs who wish to court small business might take a lead from a Turkish bank. GaranatiBank, headquartered in Istanbul, is running their third “Turkey’s Women Entrepreneur Competition”. Their goal is to draw the public’s attention to women’s “entrepreneur soul” and help increase their numbers in Turkey to match that of other emerging countries. And, they want to “help increase women entrepreneurs’ contribution to the Turkish economy overall.” The bank is also looking for social entrepreneurs who are involved in environmental, cultural , social or educational issues.

During tough times, show small business a little respect. . . and position yourself as a small business advocate.
Now, when many American small businesses are facing an uphill battle, a little recognition from the local banking industry might be in order. A similar competition would help position your financial institution as a small business bank and gain you some well-deserved advocates and customers.

What’s even more interesting about the Turkish bank promotion is their reward system. Winners receive a bank credit card loaded with a specific amount:

1st Place: 20,000 TL (Turkish Lira) (approx. $12,000) loaded on Garanti’s credit card

2nd Place: 15,000 TL (approx. $9,150)

3rd Place: 10,000 TL (approx. $6,100)

Social Entrepreneur: 5,000 TL (approx. $3.050)

A great way to promote their Bonus Credit Card, too. . . and perhaps yours, too!

A treat for the feet at Sri Lankan bank.

I don’t claim to be an expert in international banking, but I did find this kids’ savings account promotion interesting. It’s sponsored by Sampath Bank, a Sri Lankan bank with 113 branches. The month long bank promotion ends at the end of January.

The accounts, the Pubudu Triple S Children’s Savings Account and the Sapiri Super Investment Account for Children, have various “slabs”, or as we’d call them tiers. For a deposit of 1,000 Sri Lankan rupees (approx. $9), the kids receive school supplies. For Rs. (rupees) 2,500, a voucher for a “trendy pair of shoes” comes with the supplies. And for Rs. 5,000, the ante goes up to shoes and additional school supplies. The gifts are valued at more than 50% of the deposit amount. The bank claims to have attracted more than 10,000 customers (both existing and new) within the first 20 days. Commenting in The Island Online regarding the new launch, Marketing Manager of Sampath Bank Upul Nawaratne Bandara said,

"Even though this gift scheme is costly, Sampath Bank thinks that it is an investment, as it eventually facilitates to make well educated future leaders to our country. Our tag line ‘We Present Your Future’ suits ideal along with the new gift scheme. The success of Sampath Bank is our customers and we are ready to offer them the maximum benefits, while developing the habit of saving among the rest of the community", he said.

"Furthermore, the gifts received by the children are valued at over 50 percent of the deposit amount, so the more you save the more you get with this tremendous offer from the Sampath Bank. We want to accommodate people who can save something and to increase their practice of saving. So, this note is for the wise parents in this country who care about their children", he stated.