Sunday, March 22, 2009

Redneck Bank: Banking Idea of the Year

How does a staid boring bank get noticed in these times? Bank of the Wichitas has the solution. It's launched its internet bank under the name Redneck Bank. Ya, not kiddin. Redneck Bank for Joe the Plumber :-)

Just a naming idea and a tagline that says: Where banking is funner. Everything else is the basic internet bank that anyone else offers. Apparently there are 9000 banks on the internet offering the same product. Wade Huckabay of Bank of the Wichitas was looking at a way to differentiate the brand. And he hit upon the name Redneck after sifting through many unused website names.

Looks like the humour ploy has really worked for him. The bank with laughing horse as mascot (spouting the cheesy 'we want to be your mane bank') has already become popular in 45 states across the US and on the Internet.

I read somehwere that Mr. Wade faced many objections from his board. But he overruled them. I am not sure how many banks in India will approve of such a name or strategy. I personally remember being greeted with cold silence by a Bangalore-based bank when I suggested humour as a route. May be there's a lesson in this for all of us.

Extracted from Namasutra.

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