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
Home Community Banking

More Than Just a Financial Product Provider

December 11, 2020
Reading Time: 3 mins read
More Than Just a Financial Product Provider

By John Oxford

According to finder.com statistics, on Black Friday and Cyber Monday Americans spent nearly $150 billion combined on stuff. In addition, with the holidays now upon us, even more will be spent with retailers to bring joy and show thanks to those we love and/or do business.

Even during a pandemic these numbers prove that Americans love to shop. As we in the banking industry do all we can to support both clients—the ones spending and the ones selling—there has been a big push to support local business, especially with the struggle many have faced due to various COVID-19 restrictions.

Many marketing campaigns asking consumers to “shop local” and support your community have been trotted out in hopes of helping local mom and pop shops survive the current impasse and steer consumers away from better resourced big box retailers and online ecommerce sites.

As bankers and bank marketers, we love all of our clients. Our job is to be a safe conduit for commerce, provide convenience and access to funds as well as banking products and services our clients need to live their lives and then, in my opinion, it is up to the marketplace to decide who wins.

However in that opinion, I love shopping local and think it builds up communities. The value that we as bankers and bank marketers can offer our community small businesses trying to survive may be a lifeline we didn’t know we had to offer. Here are some ideas.

First of all, nothing is more local than your front door step. Although the appeal to shopping local is often viewed around personal interaction and relationships—much like community banking—thanks for the aforementioned pandemic, in-person shopping may not even be possible depending on where you live.

Although there is a cost to providing delivery and convenience, much like community banks having to have mobile banking even when it’s not their strong point, small businesses must have a way to deliver their products. So as we market our banks to various small business clients, helping them think through how they can do that may be just as important as the financial advice and products your bank gives them.

Also just like banks in general, providing an easy-to-use digital experience is a must. While the investment in infrastructure for a mom and pop to deliver their goods and services online, as well as make the transaction can have a high cost, in many cases, if you cannot get your product to the front door or phone of your consumer, you are going to lose out.

Due to the pandemic, the rapid adoption of digital products and commerce is not specific to the banking world. Local retailers and restaurants must now have online ordering, payments and delivery to compete with the Amazons of the world. And, frankly, they are expected to have better service due to their nature of being a local business.

In addition, putting a serious effort into your social media can give you a leg up. Opening and closing times, contact and location data, and information about anything that has changed due to COVID restrictions can go a long way to saving time and effort for both clients and retailers. Social media, while not free or cheap to do it correctly, is still an efficient marketing channel and the hyper localness of it makes it super effective.

Banks can help both themselves and small business clients by being more than just a financial product provider and offering advice on marketing and delivery of services. Mom and pop shops are great for communities but they still have to be convenient to their consumers.

In a double dip on this advice, it is also good advice to banks. We must be able to deliver our products over digital channels, clearly communicate location and opening and closing times for those of us with branches open and be able to use social media as a tool to drive awareness, information and commerce for our own products.

To hear more about this, listen to this week’s continued discussion on the Marketing Money Podcast with Josh Mabus of the Mabus Agency and me.

John Oxford, director of marketing at Renasant Bank, and Josh Mabus, president of the Mabus Agency, are co-hosts of the Marketing Money Podcast.

Tags: ABA Bank Marketing PodcastCommercial clientsCustomer engagementCustomer expectationsSmall business lending
ShareTweetPin

Related Posts

Sen. Tillis proposes legislation to address debanking

Survey: More customers moving money to different bank

Newsbytes
March 27, 2026

While overall customer satisfaction with retail banks has remained steady, a growing number of customers are moving money away from their primary bank, according to a recent survey by J.D. Power.

How AI and personalized guidance can help build credit resilience

How AI and personalized guidance can help build credit resilience

Community Banking
March 26, 2026

Digital tools can help tailor financial guidance so confronting consumer debt does not have to feel intimidating.

FOMC minutes: Persistent inflation clouds path forward

Report: Fed not collecting data needed to improve bank application processing

Community Banking
March 24, 2026

The Federal Reserve is not tracking the information needed to improve the efficiency and timeliness of processing applications for community bank mergers and acquisitions, the Fed Office of Inspector General concluded in a new report.

OCC sees need for regulatory reform in bank merger process

Bank acquisitions announced in four states

Community Banking
March 24, 2026

Proposed acquisitions announced of banks in Michigan, Washington, Missouri and Iowa.

What banks should know about serving domestic violence survivors

What banks should know about serving domestic violence survivors

Community Banking
March 24, 2026

By employing trauma-informed principles to current practices, banks can start to knowingly serve survivors without an overhaul of policies.

Accuracy, consistency, efficiency: How AI strengthens AML compliance

ABA DataBank: Inside bank decision-making on liquidity and contingent funding

Commercial Lending
March 19, 2026

Results from an ABA member survey shed new light on how banks really use liquidity sources and possible reforms.

NEWSBYTES

Rep. Waters seeks details from Fed about Kraken decision

March 27, 2026

Consumer sentiment fell in March

March 27, 2026

Survey: More customers moving money to different bank

March 27, 2026

SPONSORED CONTENT

How top agricultural lenders are approaching AI, automation and innovation in 2026

How top agricultural lenders are approaching AI, automation and innovation in 2026

March 2, 2026
Top 7 FP&A Trends in Banking for 2026

Top 7 FP&A Trends in Banking for 2026

March 1, 2026
How Instant Payments Can Accelerate B2B Payments Modernization

How Instant Payments Can Accelerate B2B Payments Modernization

February 3, 2026
Digital Banking: The Gateway to Customer Growth and Competitive Differentiation

Digital Banking: The Gateway to Customer Growth and Competitive Differentiation

February 1, 2026

PODCASTS

Podcast: Risk and strategy in sponsor banking

March 19, 2026

Podcast: From stablecoin to fraud, top takeaways from the 2026 ABA Summit

March 13, 2026

Podcast: How the SCAM Act would encourage platforms to go after scammers

February 4, 2026

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

© 2026 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

© 2026 American Bankers Association. All rights reserved.