Wednesday, August 5, 2009
We've worked with a lot of banks and financial institutions in the past, and they all sincerely want to "get involved" with their community. For some, that means hanging a banner on the 9th hole of local golf tournament. Others talk about "educating the children," which usually equates to a brochure or poster in the window. The thought is there, but the strategy and tactics are sometimes a bit stale.
In this economy, financial institutions need to work extra hard in gaining back trust. Small banks are less associated with the negative fallout than larger ones, and they have an amazing opportunity to gobble-up market share.
Umpqua Bank, based on the west coast, has launched the best campaign I've seen in truly educating, participating and improving its communities. The Save Hard Spend Smart initiative offers people the opportunity to vote once a week until Septmember 2nd for 1 of 3 non-profit organizations. Every vote equates to a dollar donation from the bank, and the group with the most votes will receive $15,000.
Also featured on the micro-site are profiles of Savings Heroes, tips, peer support and savings tools. And like any good campaign, it's highly portable through an array of social media tools and channels.
Now, if I could just figure out how to pronounce the bank's name.