Marketer of the Year for 2009? A Car Company!
November 10, 2009 at 1:31 PM
I just read in AdAge that their Marketer of the Year Award for 2009 is going to Hyundai - with 40% of readers selecting the carmaker. What Hyundai did in 2009 was brilliant: offer customers who finance or lease a car and then lose their income the option to return it with no impact to the customer's credit standing. To my knowledge, only one bank copied this idea: BBVA Compass. Compass offered free involuntary unemployment protection to new mortgage customers - lose your job, and Compass will pay your mortgage for up to a year. Great idea - and they got it from Hyundai!
What else can be learned from this AdAge's runner up companies? What tactics might be copied by savvy bank marketers looking to distinguish themselves from everyone else? McDonald's won runner up honors in part by appealing to mothers - not the folks who buy Big Macs, but the people who make the decision to drive through the drive-up window. Women and mothers increasingly make the financial decisions for households in the U.S. What are banks doing to appeal directly to this buyer group?
There are always lessons to be learned by looking outside the banking industry. Marketer of the Year (AdAge), Most Innovative Company of the Year (Fast Company), and other retail/marketing oriented annual honors should be followed and studied for ideas that have proven success.
If you know of other bank offers that demonstrate a keen understanding of today's trends, let me know!
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