It's a sign of the times. Joining the ranks of the recession-ridden, a Colorado bank bought billboards featuring fake advertisements with the bank's real phone number. The marketing ploy, intended to capture the attention of onlookers, was an effort by the bank to cozy up to consumers.
The attempt however, backfired when people looking for real information called the bank in response to the mock advertisements. First Bank then responded by promoting actual businesses on the billboards.
Implications - This is a perfect example of the influence of viral marketing on the corporate world. Who could have ever imagined that a stuffy, old banking institution like First Bank would invest in something so comic, avant-garde, and guerilla?
"I'm not sure where we're going to go, but we love the interest in it," said the company's CEO. The success of this ad ensures that more companies will participate in ads like this, even if it does confuse consumers.
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Trend Themes
1. Viral Marketing - The success of First Bank's humorous and attention-grabbing billboard ad demonstrates the influence and effectiveness of viral marketing in the corporate world.
2. Guerilla Advertising - First Bank's use of guerilla advertising tactics with fake ads on billboards showcases the potential for disruptive and unconventional marketing campaigns.
3. Consumer Confusion - The unintended consequence of people calling the bank due to the fake advertisements highlights the need for companies to carefully consider the potential for consumer confusion in their marketing strategies.
Industry Implications
1. Banking - The innovative approach taken by First Bank in their billboard campaign presents opportunities for other banking institutions to explore creative and attention-grabbing marketing initiatives.
2. Advertising - The success and buzz generated by First Bank's fake ads on billboards indicate potential for advertising agencies to develop unique and unconventional campaigns that captivate audiences.
3. Entrepreneurship - First Bank's decision to promote actual businesses on the billboards opens doors for entrepreneurs to collaborate with financial institutions for mutual promotional benefits.