E-commerce Link: Banking on Social
At the recent Target Marketing webinar, "The Secrets of Social Media Lead Generation," some listeners asked questions like, "I don't know how to start dialog with potential customers on Facebook and need to turn friends and 'likes' into leads and sales ... can you tell me how?" If you're asking similar questions, you're not alone.
In September 2010, I profiled AnchorBank's "function before form" approach to online lead generation—where the bank caters to customers using helpful advice like an industrial designer uses ergonomics. In a nutshell, what sets AnchorBank apart from other banks is its systematic approach to content marketing. The bank focuses on solving customers' problems and prioritizes how, when, and where helpful tips and tricks get distributed to customers.
Yes, AnchorBank's content is relevant to solving typical financial problems that customers experience, but success lies in a system that prompts customers to express need—then nurtures it and captures sales. That's the key. But what happens when processes aren't planned so well?
Chase +1 Campaign
Acquiring new accounts was Chase's focus with its Chase +1 Facebook campaign aimed at students. But students actually needing Chase's card weren't given an opportunity to move toward it. In its first foray, Chase failed to give students answers—such as tools that improved their ability to manage finances. As a result, Chase didn't gain new, first-time credit card customers using Facebook.
Chase created awareness for its Facebook campaign by investing in banner ads that invited students to join a Facebook group page. The group was designed for students who wanted to learn about the new Chase +1 credit card product.
Chase also offered group members the chance to earn redeemable points for spreading the word about the Chase +1 card. In the end, points could be "cashed-in" for DVDs and other merchandise. About 34,000 students participated in the initial campaign.