Financial institution marketing is an ever-evolving practice, both in keeping-up with emerging technologies and managing a regulatory heavy climate. What can the savvy CMO do to ensure that his/her brand remains up-to-speed? Here, BIGEYE shares 4 Essential Tips for Financial Institution Marketing.
2. It’s often difficult to figure out the most “essential”
strategies for bank marketing success. These
tried-and-tested outreach methodologies can create
sizable success within your financial institution…
3. Here are
Highly effective tips to help you to
help increase your bank or other
financial service’s ROI:
5. The first step to success in the financial realm is prioritization. A Strategy
Prioritization Matrix can help you to determine the most strategic projects to
help your business get the most “bang for its buck.” Create the matrix by
listing the impact on the X axis (high or low) and the ease of implementation
on the Y axis (hard or easy). Then, within the matrix, classify potential projects
in one of four buckets: Quick Wins (High Impact, Low Effort), Must Haves
(High Impact, High Effort), Low-Hanging Fruit (Low Impact, Low Effort) and
Money Pits (Low Impact, High Effort).
6. Your matrix might look something like this:
This will help clarify those areas requiring the greatest focus.
8. Prospective clients that may be relocating to your area will likely be in search
of a local bank. Depending on a potential customer’s degree of wealth, he or
she may also need other financial planning services such as estate planning or
wealth management. Creating a strategy to deliver your message into
prospect’s inbox will assist in the growth of your audience.
9. It’s important to have a strategy in place to ensure that yours is the first financial
services company to reach these potential clients, including the development
of efficient on-boarding processes. For many financial service providers, these
outreach efforts can prove to be “Quick Win,” as outlined in the previous
matrix.
11. “Retargeting is often the most effective and efficient acquisition strategy on a
cost-per-account basis. It’s also a good way to capitalize on a person’s
interest, as retargeting is only triggered after a person visits your site or clicks
on your content.”
In many ways, digital retargeting can successfully work in tandem with direct
mail efforts, as one banking business achieved a lift of 40% after pairing digital
retargeting efforts with a direct mail campaign.
According to Wagner dos Santos,
BIGEYE’s senior director of marketing and strategic planning…
13. Through surveys and new account processing, you can grab significant
information about your customers that you can then use for future marketing
and outreach efforts. And, through iteration, you can continue evolving your
campaigns and strategies for optimal growth.
14. Need more ideas for effective ways to reach potential audiences with your
bank or financial services marketing? Contact us at our Orlando ad agency,
and we can help you tailor your customer acquisition strategies to help
generate the most ROI for your business.