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Bank Advertising Methods

Bank Advertising Methods

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1914 Excerpt: ... CHAPTER VII Bond and Investment Sales Plans IN preparing periodical advertisements to sell the bond issue of an electric railway, the trust company's publicity manager neglected to state that the principal franchise of the corporation would expire before the bonds matured. Considering the quality of the investment, the point was not vital. The officers were thoroughly convinced that the franchise could be renewed without the slightest difficulty. Yet when, at the last moment, the oversight was noticed, there was a hasty conference. It was determined that some readers of the advertisement might consider the oversight a subterfuge, and the decision was made, therefore, to wire instructions to every paper on the list to insert the additional information. Sixty dollars was spent in this way that prospects might know not only the practical but the absolute truth of the matter. At another time, the salesmen of this company on the Pacific Coast sent back word that their prospects appeared suspicious of central and eastern banks, and that to sell securities to them seemed almost impossible. The trust company at once got behind its salesmen with an advertising campaign which should absolutely prove two points: (1) that a long and honorable record showed the institution worthy of the highest confidence; (2) that this particular institution had contributed greatly to the welfare and development of the Pacific slope. The longest and stiffest pull which any high-grade bond and investment department faces is in laying this foundation of goodwill and confidence on which only can steady and profitable sales nowadays be built. The head of a bond house recently protested against "human interest advertising" because it is often the instrument of "get-rich-quick" schemes. The ...