When a campaign works a little too well.
Continental Bank, a local community bank with several locations, aimed to increase the number of checking account depositors. Research suggests that the average person usually switches banks only after experiencing multiple negative incidents or “getting burned” more than five times.
To address this challenge, Continental Bank launched the “Fire” campaign through print and radio advertisements. The campaign’s core concept was to encourage potential customers to switch to Continental Bank after having a negative experience with their current bank. In addition, new account holders were given a free Kindle Fire tablet for opening a new account with a specified balance.
The campaign’s success was beyond expectations, with foot traffic at the bank’s locations skyrocketing to ten times the normal volume. However, the bank staff struggled to keep up with the high volume of customers, leading to the early termination of the campaign.
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