The first TV ads were awkward. Top advertisers, schooled in the ways of radio, created TV spots with too many words, not enough visuals. Eventually they figured it out, though, and television advertising took off as an effective, exciting way to build brands, sell products and persuade consumers.

This awkward transition has been repeated with every new advertising form – web, mobile, and especially email. Weary of the CAN-SPAM Act and of alienating potential customers, many banks held back on email marketing. Now that they’re starting to incorporate email into their acquisition efforts, it’s apparent they’ve got a lot of learning to do.

Given banks’ sophisticated direct mail pieces, it’s surprising their email strategy doesn’t follow suit. The main weakness is that emails sent by banks don’t take advantage of the medium—they read similar to direct mail with less copy, images and branding. For the most part, banking acquisition emails state the product, the price point and include a “click here” button.

This straightforward approach isn’t bad, but in a crowded inbox, it isn’t great either. Bank emails need to stand out and excite recipients so they open, click through and act. Other sectors use tactics like multiple “sales” in one email, creative incentives and limited-time offers to lure consumers in. I think banks should evaluate how other industries use email marketing and adapt it to the banking industry.

What do you think? Can the philosophy behind free shipping, one-day sales and online shopping help banks make the most of email acquisition offers?

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