The news: U.S. Bank is running a sweepstakes offering two tickets to Super Bowl LXI, round-trip airfare, hotel accommodations, and $1,000 in spending money, per a press release. 

Entrants must visit a physical U.S. Bank branch before the end of the year and scan a code on-site. All consumers 18 and over are eligible whether they have an account with U.S. Bank or not.

Why this matters: This sweepstakes turns U.S. Bank's NFL sponsorship into a foot-traffic generator rather than just a broadcast play. 

Branches are how more than 40% of consumers say they learn about banking products and services, per an EMARKETER survey. And customers acquired in-branch tend to build larger balances than those acquired digitally, per Adrenaline research, though that can partially be a result of self-selection. In-branch accounts are also 25% more likely to remain open after a year, per Adrenaline.

Implications for banks: U.S. Bank isn't the first financial institution to run a sweepstakes for engagement—Tinker Federal Credit Union offered a yearlong gas giveaway, Carter Credit Union offered cash prizes for card spending, and Credit Union of Denver gave away cash prizes for opening new loans and checking accounts. It also isn’t unique for major banks to have a national-level sports partnership.

But its purpose here is distinct. U.S. Bank’s sweepstakes uses the NFL sponsorship as bait for a branch visit. 

Banks weighing similar promotions could build in a branch-visit mechanic as well instead of relying on brand exposure alone if this strategy leads to more traffic, customers, and/or conversions.

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