First Tennessee Bank
Case Study

Situation: First Tennessee, the state’s largest bank, had additional earnings they wanted to invest and a few simple goals in mind: They wanted to increase market share. They wanted to increase share of wallet with existing customers. They wanted to maximize their return on investment. And to do all that, they wanted a statewide marketing campaign to begin in five short weeks—just in time for the Super Bowl.

Observation: Money is not funny. At least that’s how most banking professionals feel when it comes to their marketing. So, while trying to compete in a highly competitive market, they end up playing it safe with advertising that fails to get noticed.

Solution: A unique and powerful idea was created. The First Tennessee “Money Men” would show how committed the bank was to making your money work harder for you. To communicate this message, a fully integrated marketing plan was developed. TV and radio spots were produced. Print ads and outdoor boards were created. A statewide promotion was developed encouraging additional product purchases. More than one million pieces of direct mail were sent out across the state, just in time for the campaign to launch.

Outcome: On Super Bowl Sunday, First Tennessee’s “Money Men” were introduced. This precedent-setting creative approach helped the bank do more than simply meet its financial goals; it exceeded them in every way possible. A statewide study revealed that First Tennessee had achieved its highest awareness ratings ever: 69% of the respondents knew the Money Men after just one month. Meanwhile, market share across the region grew significantly, netting the bank a 1% increase in retail customers in just six months. (One point equals $50 million of revenue and $19 million of profit.) In 18 months, First Tennessee Bank received a 200% ROI and earned a spot on Forbes Platinum 400 list.