First Tennessee Bank
In 2009, First Tennessee Bank began publishing a B2B newsletter targeting the bank's mid-sized and large treasury services clients. We selected Financial Publishing Services Co. (FPS) to partner with us to produce and broadcast this e-mail publication because of the company's reputation for having an in-depth understanding of the banking and treasury services industries. We also were impressed with FPS' track record of producing client e-newsletters that generated read and click-through rates substantially higher than most bank-sponsored client e-newsletters.
I had no experience with electronic newsletters when we began working with FPS. During the newsletter startup, FPS provided a comprehensive presentation of our various communication options, which proved to be very helpful as we moved through our decision-making. The company walked us through the various stages of producing our publication, including design and layout, content selection and editorial development, and e-mail delivery and data tracking and analysis. Ultimately, we decided to publish a three-article e-newsletter bimonthly.
We appreciate how responsive FPS is to our needs. They listen attentively to our concerns and then provide thoughtful recommendations that thoroughly address each question. We also appreciate how FPS simplifies the process of identifying topics that generate high readership and then produces professionally crafted content – all with minimal bank oversight.
We have been pleasantly surprised at how easy it has been to work with FPS and how their ability to "get it right the first time" has minimized the amount of time we spend managing each e-newsletter edition. Further, we have been more than pleased with the results, with each e-newsletter broadcast typically generating total open rates about one and a half times the financial services industry average.
Michele Wojtowicz
Vice President of Marketing
First Tennessee Bank
A testimonial from a senior communications
executive at a Top 10 U.S.-based bank
Why FPS?
A top 10 U.S. bank has been utilizing FPS services for the past 14 years. Today FPS provides the bank with writing and layout services for a monthly treasury management client newsletter, and also assists with various communications projects such as conference presentation development. The bank's senior vice president and director of treasury management product communications took some time discuss her experience in working with FPS:
What do you like most about your relationship with FPS?
Simply put, FPS makes us look good. The editorial team always suggests newsletter article topics and strategies that are relevant to our clients and well received by my internal partners—the bank's product managers. FPS editors do an excellent job of staying abreast of industry trends and knowing what is on the minds of our clients—corporate treasury managers—and consistently provide content that is well written and timely.
FPS is a valuable, yet invisible partner. Our clients credit the bank and my team for the leading-edge industry insight provided by our newsletter. And because of that same insight, our bank is positioned as a thought leader and trusted partner in addressing our clients' business challenges.
Marketing dollars are always tight. Why have you chosen to invest in a client newsletter?
Our monthly client newsletter is a great way to keep in touch with clients. It is a significant added value we deliver and is an important tool in our client retention efforts. At the same time, the newsletter is used by our Sales Advisors as a business development tool. More than 26% of sales associates who responded to a recent survey say they have used our newsletter to help close a product sale, and more than 80% rate the newsletter as providing significant added value to their sales efforts.
Why have you chosen FPS as your newsletter provider?
I like the quality of FPS writing. I'm picky, but with FPS I really don't need to make many edits. They generally get it right the first time. I also appreciate how FPS writers distill complicated input from our bank associates, focus on the relevant points and restate them succinctly to deliver a clear, compelling message that is meaningful for our clients.
I also appreciate the professionalism of the FPS team. They are reliable and able to adjust to last-minute changes. We recently moved the frequency of our newsletter from quarterly to monthly. FPS team members have been patient and a great help in keeping the publication on schedule. The best way to sum it up is that FPS is part of our bank team—an extension of our product communications staff.
How does FPS help you stretch your communications dollars?
FPS works with our subject matter experts to develop a body of content that can be repurposed into a variety of formats and communicated through an array of delivery channels. For example, FPS can develop a conference presentation and then repurpose its content as a newsletter article, a white paper or a bylined article we can place in a trade publication.
Fourteen years constitutes a long relationship in this business. To what do you attribute this success?
FPS' ability to deliver top-quality, ever-evolving communication services has enabled the organization to remain a relevant service provider since I began working with them in the late 1990s. And the company's ability to nurture relationships has made them one service provider I would like to continue to work with for years to come.