Bank Makes Play For Football Fans
Nov 14, 2006
Bank of America is one of the world's largest financial institutions. When they do a promotion, they do it big-time. For example, for the home opener for the Carolina Panthers NFL season this year, they gave out 75,000 Panthers-branded checkbook covers to fans as a way to introduce them to Panthers-branded checks.
“The idea for the promotion is ‘Our customers’ passions are our passions,’” says Joseph L. Goode III, corporate spokesperson. “So the promotion was really a way of helping our customers express their passion for their favorite football team and to make that passion and their loyalty and interest in the team a key part of their everyday banking experience. It's really about affinity.”
The goal, of course, is to get fans interested in opening accounts and ordering Panthers’ checks, but Bank of America hopes to expand on the concept. “Potentially,” Goode says, “in addition to branded checks, ‘affinity banking’ will afford us the opportunity to develop detailed agreements with partners from many different sectors — not just sports but things like retailers, professional organizations, cause-related institutions — and provide things like branded statements, debit cards, maybe even some additional consumer-oriented products.”
Bank of America is also giving away checkbook covers for three other NFL teams this season: the Cowboys, the Patriots and the Redskins. It's too soon to say how the promotions will impact business, but based on past experience, the company expects good results. “We have done this similarly with the Dallas Cowboys,” Goode says, “and we've been pleased by the response — not only with the number of existing customers but also new Bank of America customers who are signing up for checking accounts.”
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