According to one estimate, by 2020 there will be 40 times more bytes of data than there are stars in the universe. To be clear, “big data” is in fact very, very big. Yet even the smallest banks are now duty-bound to find ways to harness data. It’s a matter of survival. But in this ever-expanding universe of data, where does one even start?
You look at a product online, maybe you add it to your shopping cart, but then decide to leave the site without checking out. Be prepared for that shopping cart to follow you. Everywhere. For days, or even weeks. That’s retargeting at its finest—and done well, it can be incredibly effective at driving conversions.
A recent lawsuit against Facebook was just the latest wrinkle in the challenge of digital marketing compliance, an area that poses challenges to bankers because of its rapid change, its relative newness and a variety of regulatory implications—challenges that are usually outweighed by the benefits of digital marketing.
As more and more people rely solely on digital channels to meet their banking needs, the importance of social media as a two-way communication channel grows.
Submissions accepted through August 2, 2019
Incumbent banks have an incredible opportunity to remain digitally relevant and surpass their peers in the current buy-or-get-bought world of banking.
If you’re working to build your retail business, you have a lot in common with many companies in the malls and shopping centers. There’s more competition than ever from across the street and across the globe. The successful retailers are innovating, building their brands and creating special promotions that make lifelong, loyal customers.
Link your marketing programs to actual business results. Partner with your finance team to measure the results. You’ll be amazed how the budget process will transform from a stressful exercise in justifying what you already have into a more fact-based process where you are demonstrating how much money you need to help the lines of business achieve their top priorities.
When is the last time you saw a bank ad that made you laugh out loud? Chances are, you have to search your memory pretty hard—and you still might not come up with anything. Do banking ads have to be so solemn, even as other industries are harnessing the power of humor?
How can banks advance the perception that they’re ready to tap into the potential of millennial and Generation Z workers? Two words: Social media.