The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1906-10-31
BANKS SHOULD ADVERTISE
BY FAILING TO Do SO THEY LOSE
THOUSANDS OF DOLLARS.

There's . Right Way and Wrong
way for u Bans TO Present it's
Ciafms-ReOple Must be Made to
See why IL is to Their Interest to
Patronixe the Banks-Bare public
ity Is not EnOuxh-Dignifed Ad-
yer,ising Inspires Confidence.
"A. Nj. Graettipger, in the Chicago Banker9
Advertising is l-,day the most potent AM
important force In commerclai liie. oanhS ,
have come TO realize This within recent
wears, and conversatlsm NO longer lhplies
mat the banker should refuse 10 avail nim
self OF this lawful method Tor increasing NIB
business. All advertising Is primarily III
tended " sell sOmetnlpg-lL ls lpnuencins
people 10 think as You desire, " WANT "na'
YOU have " Cner.
From u Dankers standpoint, IL ls means
OF con ey Ing ~ The puullc Tue lnforhatlob
tnat he ~ IN Dusluess anu, that Whlle ne ID
IN business IOr personal gain, ne /, also tneit
AZ public convenience, cateilnk ~ Tho lesll-
DiSnlfied advertising is the best insuran
a bank can have against lOss vi cOLnueuce
and, perhaps, against pan lc. secrecy invites
suspicion, pubiIciLy ulspts IT, bahk au'ei
tlsing might be- calleu bank lusufa ce-N
not only brings new accOunts, buL makes aii
accounts secure by stimulating confluence
II ID as prOrtapie 10. advertise 10 oePositots
already on Inc BOOKS as u Seek new business
best asset. A banks advertising Is not
speculation, but one of the safest lnVeelmen.e
II can make, conslueieu Win mortgages
commercial paper anu securities. ~ pa.e
better Interest, while lls cumuiatlNe lorce
mSk es II increase from year " year. Int
second years advertising 10 more valuable
than the first. Inc accrued eH~cL IN u terh
OF Years 10 lrrisIst1oie. Bank advertising il
still in it's Infancy, and lne lnsLltullon tuai
Is ahead II It's competitors, In beginning 70
accumulate this prest In tnIs way cannot
be dlslodged from It's SUPREMACY. 1hcie IL
distlncllUn. however, between direct auvel-
llsing and bare publicity. the forner al.
ways gives publicity, ana III The sAme lille
makes u blu for actual results. while Lhe lat
ter does not serve as direct advertising
Most bank kers seem satisfied lU have their aus
state the name OF tue INSTITUTION, together
divided piOfLs. Then come the names oi
the officers and possibly the directors. Thls
IL the average banks announcement. SucI
advertising ls lnefectlve-at least ~ Is nul
as productive OF results as II might be, be
cause vi lack OF understanding oi The differ
ence ueLween between "adVertislng' ano
publicity"
Mere publicity Is unnecessary TO most
banks. There Is no neeu ola bank spending
money only 10 tell peop.e that II IL there,
simply 10 give The Lame and address, list OF
officers, etc. Every body knows these things.
They likewise know the general character o.
the dry goods and grocery stores. The pro-
prietors OF these stores, however, do not Take
these things for granted. They do hot STOP
with the announcement that they keep dis
goods or groceries, but seek 10 attract atten-
uon by the recital OF interesting facts. WhRl
banks need isthe kind Of advertising lha,
will influence people 10 use The bank, who
are now indifferent TO II. In almost every
community there Is enough money carried
In pock cts and hidden away in obsure places
~ start u respectable bank. People, as rule
are thoughtless OF their own needs. II never
occurs to us that we need certain things uD.
til their desirabjlity Is brought foIcitly to
our attention. Suggestion ia everything.
Suggestion OF need oftentines creates IL.
ots OF people never think oi opening q
,Lapk account, because the matter has never
been presented to them in q way that i'm
presses them OF IN cir need Of one. Bare pub
licity gives no reasona 1t seldom brings
results to bank. Many ads in the papers
become so familiar TO US through long ap
pearance In the same form that the eye an
conciously skips them, to rest on something
new: No absolute line for advertising banks
at different places can be laid down, as local
conditions and environments must be taken
into consideration and acted upon. There
are many features Of the banking business,
which presen ts possibilities OF p oft that q
liberal advertising ca ampaign Will develop.
There is the money order business. The
enormous sum OF over $3.50 .0O0 is handled
annually by the postoffice and express COM
amount TO about S6,250, ,0O0. The only way to
turn this business to the banks is TO adver-
tise the features more perssteptiy.
are very aggressive In soliciting this class OF
business through advertising and those
banks that desire such business should 60
them one betler-do better advertising, and
more OF 1t. Letters OF credit, certificates OF
deposit, and safe deposit vaults are among
the many features that can be expioited With
profit, through the medium OF advertising.
The savings department OF bank can be
made the source Of much new business. In
structions In the value OF saviDk-hipts as TO
the advantages,o OF provtding for rainy day
the encouragement of thrift and frugality,
and similar argnmen Ia forming the basis OF
educational advertising, will soon have their
effect.
Publishing the statement of the condition
State com missioner, as the case may be, can
be turned TO advantage by pointing Out the
strong features OF an especially good state.
ment, and why 1t is 80. and with eq ual frank.
Most bank statements are very dense They
are entirely devoid Of interest TO the general
public. and yet 10 large extent 1t is the gen.
eral public they are intended 10 interest
There seems to be certain mystery. q lack
acknowledge Oh the part of the public, con-
corning banking methods and purposes,
Ing. No reason exists why such Information
should not be made public, and the bank
which goes to the trouble or expense oil
circulating such Information is sure 10 benefit
the most by It.
Continued advertising creates confidence
A bank cannot be constantly before the pub
lie without being found out, and known for
The people believe in q bank which can
stand the limelight OF publicity. An Inter
estiDg instance Is that OF an Eastern bapk,
which, although very old, was in q bad way
In 1904, and bad 10 be reorganized. The new
management by advertising in the daily
newspapers and through the judicious dis
tributiop OF book lets, statements and other
printed matter. increased the bank deposit T.
from about 81 ,0OO. 900 in A pril 1904. 10 nearly
"a 600 900 at the present time. The advertise
ments were plain and frank, though digui
ned, but the central note OF the campaign
was always the policy Of the Institution, up-
I'll there was no chance OF Misunderstanding
or Ignoring II. The result speaks for itself.
P1ttsburg Is pointed out, where benk adver.
tisipg is perhaps better done than in any
other community. The banks there that
advertised IN the newspapers showed an in
crease In assets OF IS per cent. and an increase
In deposits OF IS per cent in q period OF five
years, while the banks that did not avail
themselves OF the columns Of the local papers
gained In the same time only q per cent. In
assets and ii per cent. in deposits.
Cleveland's great savings banks are becom
Ing known through The country through pub.
licity In the magazines and newspapers.
More than per cent. If all the money on
deposit In the savings banks OF the United
States, or slS5, 500 COO is In the banks of the
city of Cleveland. while the population OF
this city Is only one-half Of l per cent OF the
population OF the entire country.
IL is the systematic, con tin uous and persist.
ent effort that counts for success.