As a community bank executive, capturing new quality customers is likely one of your top 3-5 strategic priorities. And while you likely don’t have the budget of the big regionals or national banks, there are marketing strategies that are just as effective at a fraction of the cost of pricey TV and print advertising – some at no cost at all.
Blogging and Content Creation
Creating regular blog posts and other online content on subjects such as creating a workable budget or saving for a major financial goal generates goodwill among your bank’s present customers. At the same time, your bank gains recognition among would-be customers that are perusing your site. Your blog posts don’t have to be literary level posts. Clearly written text, free of banking jargon (or with specific terms defined) plus infographics or data tables will more than suffice if your message and data are clear and relevant.
Social Media Presence
These days, if your bank does not have a strong and consistent social media presence, you are all but invisible to a significant proportion of the younger (Millennial) demographic. However, social media that is solely self-promotional or repetitive across multiple channels does not help your institution’s cause. Likewise, posting infrequently or failing to respond to feedback will generate a negative perception among your bank’s social media audience. Unless your bank has one or more full-time social media experts on staff (which most emerging community banks can’t afford), it can be difficult to maintain a meaningful presence across multiple platforms. Instead, concentrate on one or two platforms initially, then as your experience level and results increase, add platforms and content as your resources allow: good initial choices include Facebook, LinkedIn, Twitter, and Instagram. Google+ and Pinterest are somewhat less popular with the younger market, today, so do your research and determine what platforms are most likely to work best with your markets, and deploy.
Online Customer Service
Providing and promoting outstanding customer service helps your bank stand out from the competition. A mobile-friendly website or dedicated mobile app is an excellent tool for providing service to customers on the go. And Community”izing” you website (Promoting community and local events, posting local newsworthy information, especially positive newsworthy events regarding your customers, etc) are all things that lead to a more positive image, greater recognition of your brand, and that tie your community to you.
Automating your lending processes utilizing the power of technology can achieve huge gains in efficiency, as well as differentiation from your competition. Imagine being able to provide existing and new merchants/retailers that sell a financeable product, a direct link to your banks automated lending platform so that they can close a deal, and secure financing on the spot for their customer 24/7/365, with your loan.
For more info on automated lending, contact us today.