Business Challenge The competition to win checking accounts has increased steadily over the years. Originally banks gave away a free toaster to sign up for a checking account. Now banks regularly give between $100-$150 to new customers. With similar offers and services being promoted, it was hard to for banks to differentiate themselves.
Strategy Team up with Apple to provide an iPod nano for new customers. This was the hottest product on the market, which helped create a unique promotional item for new customers who were willing to sign up for even deeper, stickier products with the bank. Custom messages and media plans were created to target audiences at various life stages.
Results Key's iPod nano Campaign quickly generated x10 BAU in 6 weeks and became the top new client acquisition driver for Key. Several successful acquisition campaigns followed featuring Garmins, Sony HD Cameras and Kindles. This fully integrated campaign included national print, radio, TV, online, direct mail and guerrilla marketing tactics.