Comerica Bank drives deposits by giving back

How would you like to be in charge of marketing for a bank right now? Jim Weber, CMO at Comerica Bank, is a friend and a client. We had a chance to discuss the challenges he’s facing right now and which programs are working in the face of all the negative press about banks.

He cited the bank’s “Cash and Care” program from the past summer as a good example of how integrating media and connecting with the community can drive results. The heart of the program was an incentive for opening new high-value checking accounts in the form of a donation to the depositor’s charity of choice. The offer was communicated through TV, local print and online advertising that drove interested parties to a campaign website and eventually into a neighborhood branch.

“Our roots are as a community bank. This program reinforced our commitment to the communities we serve and the response was very positive,” said Jim.

Maybe other challenged industries could learn that giving back is actually good for business. What do you think?