You hit an atm for a weekly cash infusion and out pops a surprise — a brownish bill bearing Sir Robert Borden’s mug.
That was exactly what happened this summer to some users of the ATMs at the newest location of Winnipeg-based Entegra Credit Union. As part of a summer marketing program, Entegra spent $14,000 over a two-month period by sprinkling $100 bills among the stacks of $20 bills in the cash machines at the branch.
Entegra CEO Gord Kirkwood says the strategy boosted ATM traffic and attracted new memberships. Transactions at its Disraeli Freeway branch went from 20 to 350 per day during the $100 hoopla, he says. They have since levelled off to about 130 daily. The branch attracted 250 new members during the period.
“We’re quite pleased. We know transaction volume would grow but it grew much quicker because of the promotion,” says Kirkwood.
The campaign was designed to draw attention to the new environmentally friendly branch, which opened in January. It has leadership in energy and environmental design, or LEED, certification, the universally accepted designation for a “green” building. Some of its features include aerators in all taps to reduce water flow and sensors to ensure water is not running unless it needs to be, geothermal heating and cooling, low-flush toilets and sensors that allow lights to come on only when rooms are in use or outside light coming into the space is insufficient.
And with 25,000 cars passing by each weekday, it’s on one of the busiest thoroughfares in Winnipeg
“We wanted to force drivers to slow down and take notice of us. If they used our ATMs, they’d be more exposed to our marketing, which might prompt them to come in the doors and feel more at ease in becoming a member,” Kirkwood says.
Kirkwood will consider launching another $100-bill campaign, but thinks the timing would be better in spring or fall.
“During vacation time, fewer people are downtown and going to work,” he says.
The majority of winners were non-members, just as Kirkwood was hoping.
“It doesn’t do too much good to promote to your own members — they’re already converted. The whole idea was to bring non-members in to experience what we have to offer,” he says.
Kirkwood says part of that experience is in-branch marketing, which includes interactive commercials on LCD screens instead of traditional posters on the wall.
Entegra has 10,346 members at three locations in Winnipeg and $190 million in assets. IE
One way
to buy market share
Summer promotion saw CU hand out $100 bills
- By: Geoff Kirbyson
- November 1, 2006 November 1, 2006
- 10:32