Activation
Out Of The Shadows: First Tennessee Bank Launches Perks Program
Bank’s new program an example of activation efforts focused on enhancing experiences for consumers.
3/15/10: While many banks have pulled back on sponsorship and activation spending over the past 18 months, First Tennessee Bank National Assn. has inaugurated a new activation program to forge stronger connections with its retail customers.
The bank last month rolled out First Tennessee Perks, a program that offers customers discounts on tickets and other benefits at three sponsored properties: The NBA Memphis Grizzlies, Central Hockey League Mississippi RiverKings and the Triple-A Memphis Redbirds.
The bank plans to expand the program to other sponsored properties later this year, said Dan Marks, First Tennessee’s CMO.
Although Marks did not identify those properties, the bank’s sponsorship portfolio includes the First Tennessee Pavilion in Chattanooga, Bristol Motor Speedway, the Double-A Chattanooga Lookouts, the Nashville Symphony and University of Tennessee athletics.
“We want to incorporate the program into all properties, not just sports. We want to appeal to everyone,” said Grant Joiner, president of BottleRocket, First Tennessee’s sponsorship agency.
The bank rolled out the program to better leverage its sponsorships as a tool to gain new customers and build relations with existing customers amid the challenging banking environment, Marks said.
“When the economy is bad and revenue pressures are up, you have to be innovative and try new ideas. You have to do more with less, which is in the spirit of the perks program.”
The bank is ramping up activation around its key partnerships after ridding its portfolio of “lower quality sponsorships” over the past year, Joiner noted. The largest relationship dropped was with the NHL Nashville Predators.
“We’re doubling down on our strong, long-term partners,” Marks said.
The First Tennessee Perks program offers the following benefits:
Grizzlies. The bank is running an in-game promotion during the first quarter of each home game dangling floor seats and complimentary beverages and snacks. Consumers enter the promotion by waving a First Tennessee debit card, credit card, program advertisement or homemade sign, with a camera picking winners at random.
In addition, customers who show their debit card gain access to the First Tennessee Hospitality Room during weekend games, where they are treated to free beverages and snacks, as well as occasional Chalk Talks by players, coaches and front office staff.
Customers also receive free giveaway items and a 15 percent discount on team apparel purchased at FedEx Forum.
Redbirds. First Tennessee’s VIP Customer Section consists of 27 reserved seats behind home plate offered at AutoZone Park’s ticket windows on a first-come, first-served basis and at a 50 percent discount to bank customers who pay with a FT debit card.
Customers who sit in the seats receive complimentary snacks and beverages during the third inning.
RiverKings. Customers receive a $2 discount on select seats when purchased with a bank debit card.
First Tennessee is touting the program through FTperks.com, its Facebook page, Twitter feed and other social media efforts, Joiner said.
Sources
First Tennessee Bank National Assn., Tel: 901/523-4444
BottleRocket, Tel: 901/527-8000