It seems that lately, Seattle Metropolitan CU CEO Robert Harvey can't go anywhere without people giving him a lock-eyed stare.
He's happy to respond with a chuckle because he knows that it means they've seen the latest SMCU marketing effort, a humorous TV commercial that features an obsessed bank teller with eyes locked on a customer's checkbook.
"We experimented with TV commercials last year that included a commercial on just a few select cable shows," said Mike Escudero, Marketing Manager of SMCU. "This year we had an opportunity to make a bigger impression so we hired a local design company, Phinney/Bischoff Design House, to help create a message that would promote the CU difference and show why SMCU is different."
Production of the 30-second spot that has been airing a minimum of 13 times each month since March cost about $25,000, Escudero said. The CU saved money by filming in two of its branches in a single day, and using employees as extras.
"In all our communications, we want to educate the public about the credit union difference," Harvey said. "Not only did this TV spot help us achieve that goal, but it captured the viewers' attention through humor and straightforward messaging."
The commercial opens with a woman walking up to the teller's window and taking her wallet from her purse as she asks a question. The teller, seemingly oblivious to her voice, is instead transfixed by the wallet. She looks at him confused, than moves her wallet back and forth, then up and down, watching as his eyes follow every movement.
The voiceover asks, "Does your bank care more about you or your wallet?"
The next scene shows the woman at SMCU, where the teller is attentive.
The voiceover message: "At Seattle Metropolitan Credit Union, we get to know you and tailor our approach to your unique financial needs. Because at Seattle Metropolitan Credit Union, it's all about you."
Escudero said the CU paid an additional $1,500 to Marshall Marketing & Communications, Pittsburgh, to conduct two random telephone surveys to gauge awareness of the CU industry and SMCU before and after the commercial ran.
"We had them do a random poll of 500 people in March before the commercial started airing, and again in September," Escudero said, noting that while overall awareness of CUs in general and SMCU remained unchanged from survey to survey, those between 18 and 34 seemed to be paying the most attention.
"The awareness of SMCU for that demographic was 27% in March and 33% in September," he said.
Nevertheless, Escudero said he doesn't plan on using television again anytime soon.
"That's not to say it wasn't effective or that we think TV is too big for us," he said. "We just want to try other types of campaigns that focus on our target groups, specifically the younger demographic."
SMCU's ad starts off with a consumer trying to figure out why the bank teller won't make eye contact with her - it's because he can't take his eyes off her wallet. She waves the wallet around to see what happens, and sure enough, his eyes follow wherever her wallet goes. Wanting a financial institution that cares more about her than her wallet, the consumer heads to SMCU.
