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...associates see them as a real part of their sales choreography?
Let's look at how two banks known for their innovation--Wachovia and Bank of America, both of Charlotte, N.C.--are answering these questions. Both have recently shifted their branch collateral strategy in an effort to address today's customers and the challenges of today's sales associates.
We will look at three types of collateral:
* Promotional: These are pieces with a relatively short shelf life. They are used in support of integrated marketing campaigns, to "feature" seasonal or new product promotions or simply to support a short-term sales objective.
* Product: These pieces are a permanent part of the branch landscape. They may take the form of life-needs communications, presenting a bank's products in the context of their customers' lives. Or they may simply present products individually (home equity loans) or in product families (home loans or loans).
* Operational/regulatory: These pieces are just a part of doing business. They may include pricing sheets, disclosures and other materials for day-to-day business needs.
Some general trends in these areas: Promotional collateral is becoming more customized to target specific demographics. Product collateral is growing more educational and is operating as a traffic manager, referring customers who want more detailed information to other channels. Operational collateral is shifting to print-on-demand distribution.
How Wachovia redefined the rack brochure
With the 2001 merger of Wachovia and First Union, marketers were given the opportunity to start anew on collateral. Wachovia...
NOTE: All illustrations and photos
have been removed from this article.
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