Banks are not exactly known for innovative, push-the-envelope marketing tactics, but Washington Mutual is trying to break the mold. This week the company introduced a campaign in New York and Chicago
that included teams of guerilla marketers spreading the word about the bank's new roster of free financial services. In the two cities, street teams offered customers $2 bills as they walked away from
the automated teller machines of competitive banks. There is also a TV effort that includes a character called "Mr. Stodgy Banker" who expresses outrage at the bank's free services, which include
free ATM cash withdrawals, a free overdraft fee waiver each year, free checks for life, and cash back for debit-card use. "Exactly how does that help the rich get richer?" the character asks while
smoking a cigar and grasping a champagne glass. The new national campaign represents Washington Mutual's largest product launch ever. In addition to the street events in New York and Chicago, the
company is running direct mail, online advertising, subway and billboard signs and newspaper wraps.
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