In bank marketing departments all over the country, a longstanding debate rages on over the use of digital versus traditional marketing. Often enough, it’s framed in existential terms: Can the bank survive if it doesn’t adapt to a changing marketplace? By the same token, can it survive if it abandons the marketing approaches that have always delivered results?
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.
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