given the fierce competition to attract and retain bank customers, what do you do to differentiate yourself? Positioning yourself as a customer advocate is one important way. You can say you have your customers’ best interests at heart, but what can you do to put teeth into that claim?
Author ABA Banking Journal Guest Contributor
Nearly two-thirds of bank names contain one of the following words: first, national, trust, or savings. Is your bank among them? Can you do something about that?
Today banks have the capacity to recreate the lifetime relationships that used to be the norm in banking. And if they want customers to stick around—even when they get offered a slightly better interest rate somewhere else—most banks need to put a heavier focus on communications. They must continually demonstrate to customers that they have offerings to meet their present and future financial needs, no matter what life stage they’re in.
Today’s hyper-connected consumers are using mobile technology to communicate in one way or the other all day long. So they expect the financial institutions they do business with to communicate with them on a personalized, relevant and contextual basis, just like their favorite brands do.
Through a TV news partnership, one state bankers association is raising public awareness about what banks do, the safety they provide and the support they give their communities.
When all banks are pushing forward in the race to adopt the latest innovation and emerging technologies, remember that cybersecurity is essential to remain competitive while protecting account holders. Be the trusted resource that empowers consumers to guard against fraud and cyber-attacks.
The best way a marketing department can show its value (and the value of its individual campaigns) is through smart attribution. So what is marketing attribution, and how can you use it?
Just like the Marine Corps or a corps de ballet, people in an elite, high performance bank are in step. They have solidarity of purpose and movement. And working together, their brand is nearly impossible to defeat.
Different generations require different marketing tactics, but millennials and Gen Zers aren’t as hard to reach as you might think. Just remember to keep things personal, connected, and consistent—and you’ll start building that valuable trust in no time.