Banks Finding Initial Uses For QR (Quick Response) Codes in Marketing

by Mercator Advisory Group 0

One of the challenges of integrated marketing in the wired and wireless world is linking between the online and physical marketplaces. QR codes are essentially square, matrix-structured equivalents to bar codes, and they are readable by smartphone camera apps as a link to additional information online. In this blog entry, Jim Marous does a good job explaining how these codes work, and how retailers have already learned to apply them in multiple uses.

He also provides several examples of how “early-adopter” banks are using them:

“Many banks are starting to use QR codes in conjunction with billboard or display advertising where space is limited and where there is a desire to provide additional information. For instance, TD Bank is using QR codes on bus shelter advertising to promote the locations of their branches with Sunday hours.”

Overall, we tend to agree with Marous’s opinion:

“The key to using QR codes is that the rewards one gets for scanning a code need to be valuable. This form of marketing works best in conjunction with a special offer not available elsewhere or to deliver unique content when customers or prospects are not in front of their computer. In other words, QR codes should not be used to simply take customers to more printed material.”

This useful article provides multiple examples, as well as suggestions for additional potential applications of QR codes.

Click here to read more.

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