Over the years I have seen many different marketing strategies and media channels but the one that was waiting for me at my desk takes the cake. ATM receipt advertising. I guess this makes sense if you want to waste your marketing money while people take out their own...
It makes sense to advertise in this medium if you are the bank and want one additional touch point but do you think a consumer is going to take action based on an ad they see on the back of a bank slip?
Here are some of the sales points made in the sales letter (I just had to read to see what they were thinking) along with my counter points:
- A method that reaches 65% of the population
- This is way too broad for anyone with a targeted message or offer
- What if my target audience is in the other 35%?
- Some people use an ATM 10 times a month
- Great, but how many of those times do they look at or even get a receipt?
- 10 trips does not mean they will see my ads if they use a different bank or branch.
- What about all those teller visits?
- They will keep the receipt for 30 days
- Of course they do but it is stuffed in a file or wallet until the bank statement arrives.
- Even when they look at it they just want to make sure the debits and credits are correct.
The main point they should have included was how this media performed for other companies. A good case study or testimonial might have helped their case.
So if you have $25,500 to withdraw on your next ATM trip you can get in on the 2008 distribution. Good luck to them...
Remember marketing strategies that are designed to generate a response don’t rely on the 'flavor of the month' marketing tactic. They stick to the basics and remember to reach their target audience while testing ideas and channels that can deliver the right message at the right time.
Have you seen ATM marketing at your local bank?