One to Watch: M&T Bank
I close the "Activity Highlights" article with "When was the last time, if ever, you heard a credit card company talk to you in such reassuring tones?" Chances are not very often with a credit card, but perhaps you're heard such language from a bank, which operates by reassuring customers in both good times and bad. Clearly, right now, we are smack-dab in the latter category, so expect to see increasingly more efforts with language, and offers, that addresses the current economic conditions in inventive ways.
One such strong effort comes from M&T Bank, which sent a self-mailer to an existing customer who already has a mortgage. This is the first time we've seen this offer in the Who's Mailing What! Archive, it actually is offering its "special savings offer" (in big type) to "friends or family" of the prospect. A "special mortgage savings offer" for $125 off closing costs in the form of a coupon is front and center on the mailers, beside a contact name, phone number and e-mail address of a representative at the bank (Archive code #535-172659-0809).
The bank contact person even adopts the first person approach in the short note above the coupon: "Customer referrals are an important part of our business, so please keep this special savings coupon for friends or family who may be interested in purchasing a home or refinancing their mortgage. I can provide a free pre-qualification or refinance savings estimate over the telephone." In other words, this is a very handy way to talk to current customers while possibly recruiting new ones; in a sense, building a community. And using a referral coupon like this is completely novel in the bank category.
On the reverse of the oversized postcard is a picture of a young family with copy that again speaks about the current needs of customers: "save money at home and on the road. Valuable energy savings tips from M&T." Below if gives many useful tips to do just that, such as "reduce the temperature on your water heater" and "keep tires properly inflated." Again, when was the last time your bank told you such a thing, if ever?