Case Study – Bank Scratch Off Card & Promotion 3 part series (2 of 3)
Scratch and win cards are an absolute must for banks and credit unions. They are interactive and exciting for not only customers but for employees as well.
There are many ways for a Financial Institution to effectively use Scratch off Cards
· Increase customers
· Customer accounts
· Increase customer interaction
· Employee incentives
· Brand awareness
Case Study 2 – Increase Deposits
A Federal Credit Union needed an innovative promotion to help face two issues threatening their future – competition from local banks and declining deposits from existing members. With the economy, the Credit Union saw existing members were having a difficult time trying to save money and the local banks were trying hard to get their attention and sway them from the credit union. The credit union needed a promotion to retain their members and convince them to start saving money.
They decided on a Scratch and Win promotion to encourage members of the credit union to start saving more. They gave each member who made a $100 or more deposit to their account a game card. The prizes included .25% off a new auto loan, key chains, pens, tape measure, tote bag, travel mug.
Yes – it IS that simple to keep your customers coming back and making more deposits to your Financial Institution.
The results were that the credit union saw a 5% increase in share deposits during the promotional period.