Satirical twist on "Blair Witch" film makes Spectrum FCU's "Dare Switch" a winner

SAN FRANCISCO- In 1999 a low-budget, independent film, "The Blair Witch Project", was promoted on the Internet, grossed millions and had movie studios rethinking their film promotional strategy. In 2000 Spectrum Federal Credit Union's one person marketing department Vice President Van Dyke Roth spent only $2,750, won the prestigious "Best of Show" award from CUES for his satirical auto loan refinance campaign entitled the "Dare Switch Project" and has the industry re-evaluating its approach to marketing. "I was surprised and pleased when the promotion did so well considering the cost. But to have won the `Best of Show' in such a prestigious competition going against the big boys was phenomenal," said Roth. It all started with a goal to increase SFCU's auto loan portfolio by $1 million. Roth faced a dwindling marketing budget and little time to devise a promotion that would generate enough excitement to help SFCU meet its $1 million goal. Intrigued by the hype surrounding the movie, Roth researched the movie's "Blair Witch" Web site for ideas. Prominently displayed in all the promotional material from the movie was a stickman symbol. Roth saw the stickman symbol and thought it would look funny with a $ for a head. The now renamed "moneyman" sparked a search for words that would rhyme with the film's title and "Dare Switch" was born. According to Roth he was just lucky that his promotion coincided with the right season and the film's video release. There were more similarities than even Roth knew. In the film, the plot revolves around three students who are lost in the fictitious Black Hills Forest of Maryland while filming a documentary and are desperate to return to their car. Coincidentally, SFCU's Maryland office is only 15 minutes away from the Catoctin Mountains and the "Dare Switch Project" revolves around three students who set out to save money by refinancing their auto loan but are lost in the woods before completing their application. Roth imitated the filmmakers successful promotional strategy by using SFCU's Web site to build the dossier on the missing students. Roth said the Web postings were an invaluable money saving resource. Updates could be posted daily and members loved the humorous clues and could even receive free giveaways by clicking certain pieces of evidence. "It was so much fun," said Roth. "I used the Web to release new evidence, like a haiku poem written by one of the missing students that told of how lack of money mocks her or a SFCU pen that slipped from a student's pocket in a convenience store near the credit union but was now available to everyone." In addition to the Web tie-ins, the campaign also featured brochures, flyers, posters, envelopes and phone messages advising people "It's spooky how much you can save". Roth cut down production costs by designing the slogans and artwork himself in-house. Postage was the biggest expense. About $1,900 of the $2,750 price tag was for postage, with $850 for printing. Like the filmmakers, Roth's solid relationship with the printer further reduced costs. This alliance, based on simple communication worked well for them both. "I always ask if he has any extra paper left over from another job or what color ink has just been used on a really big job...," said Roth "Extra paper that would be thrown out means a really discounted price and if he doesn't have to change the ink that helps too." Roth's fun campaign paid off-not only because the $72 million credit union beat 1,100 CUES entries in categories ranging from annual reports, outdoor advertising and radio and television advertising, but SFCU brought in $1.5 million in loans, 50% over its marketing goal. -mbourjolly@cutimes.com