ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Retail and Marketing

Make Sales by Providing Value-Focused Information

May 17, 2015
Reading Time: 3 mins read

By Ted Triplett

According to Gallup, a majority of bank sales come from approximately 60 percent of customers who already planned to open an account or buy a new service. Your bank doesn’t have to waste any marketing or sales efforts on these customers—they’re already going to open an account without any prompting.

But what about the balance of customers who are thinking about opening an account, but need prodding from the bank to take action?

The Gallup research also notes that more than 50 percent of the customers considering buying a new product seek out information prior to the time of purchase. That makes sense, since customers can only make decisions with a sufficient amount of information. And, in today’s economy, customers want to make sure they’re making the right buying decision.

That’s why it’s imperative for bankers to inform customers about their bank and its products and services. By providing customers with value-focused information to help them to make better financial decisions, your bank will become a trusted resource for customers. This “educational” approach is instrumental in spurring hesitant customers to take action.

Gallup’s research also showed that 21 percent of customers thinking about opening an account only did so after receiving information from the bank. The key, then, is to identify the best method of providing information to customers considering opening an account.

The value of brochures

Good service and exciting branding messages aren’t enough anymore. They only matter when your customers recognize and acknowledge them. So, you may want to reconsider the value of relying on traditional avenues, such as newspaper ads, conversations with a personal banker or customer referrals.

You might be surprised to find that Gallup found that, behind social media, written materials (including direct mail and email) are one of the most effective ways to convert customers who are contemplating opening an account with their bank.

I’ve personally found written brochures to be an extremely effective way to highlight the value and benefits of your bank and its product offerings. A well-written brochure provides your bank with an opportunity to reinforce its value in the eyes of your customers.

I recommend creating brochures that have a magazine appearance—ones that provide enough space to reinforce your bank’s value proposition. Content of interest to your customers can include:

  • An overview of your products and services. Surprisingly, customers aren’t aware of everything your bank has to offer them. And if they don’t what you have, they can’t (and won’t) inquire.
  • A section focusing on your bank’s products and services. You can feature “sticky” products (direct deposit, debit card, bill pay, etc.), specific products you want to promote based on your bank’s needs (checking, mobile banking, home equity loans, etc.), or new products and services.
  • Information about your bank’s involvement in the community. Customers are pretty savvy—they know you’re making money on their money. They want to do business with a bank that invests in the community.

Many customers look for rational reasons for making a purchase, and they can only do this when they have enough information about the bank and the relationship it offers. A high-quality brochure provides an excellent format to make your customers aware of the many benefits they can receive from your bank’s products and services.

Ted Triplett is a Regional Manager at Marquis. Email: [email protected] .

 

 

ADVERTISEMENT
Tags: ReferralsSales
ShareTweetPin

Related Posts

ABA Fraudcast: How the ABA Foundation helps banks protect their customers

Compliance and Risk
July 16, 2025

As more older Americans are major targets for criminals, Safe Banking for Seniors is an effective program to inform and defend against targeted scams.

Director’s Briefing: How a Maryland bank’s CEO is prioritizing strategy and governance

Director’s Briefing: How a Maryland bank’s CEO is prioritizing strategy and governance

Directors Briefing
July 14, 2025

Why deliberately separating CEO and board chair roles is a good idea. And the value of strategic planning ahead of a major asset threshold.

How to Hyper-Segment Your Customer Communications without Losing Control

Marketing Money Podcast: The 30-month plan to future-proof bank marketing

Retail and Marketing
July 11, 2025

How aligning marketing with executive and business-line goals can make a massive impact.

Using Artificial Intelligence to Make Sense of Mountains of Data

Three myths about AI in banking

Technology
July 3, 2025

Common myths and misperceptions might confuse about what to expect and misdirect investment and efforts.

Chair’s View: Celebrating a century of giving back

Chair’s View: Celebrating a century of giving back

Community Banking
July 1, 2025

Not only do we celebrate the 150th anniversary of our organization, we also commemorate an important milestone for the ABA Foundation.

Fighting fraud on the frontline

Fighting fraud on the frontline

Compliance and Risk
June 30, 2025

Customer inquiries and complaints are important tools for detecting scams, but structural barriers in the bank may prevent them from being fully utilized.

NEWSBYTES

ABA urges lawmakers to take up Dodd-Frank reform

July 15, 2025

Budget reconciliation includes rural and agricultural benefits

July 15, 2025

Gould takes office as comptroller of the currency

July 15, 2025

SPONSORED CONTENT

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

July 1, 2025
AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025

PODCASTS

Breaking down the bank-related provisions in the big budget bill

July 10, 2025

Podcast: Inside ABA’s new Treasury Check Verification System API

June 25, 2025

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.