Big Marketing Solutions for Small Banks

By Deborah Garry, President & CEO | August 5, 2019

Like everything else, the business of banking continues to evolve with emerging technology. We keep tabs on key trends that are most relevant to smaller banks today, and in doing so, realize that these financial institutions might benefit from technology-enhanced marketing solutions.

One of the most promising of these is marketing automation, which we’ve described here on the blog before in greater detail. Here are some of the challenges facing smaller banks today, along with some of the solutions that marketing automation offers.

Challenge: Less In-Branch Traffic

With the growing emphasis on internet and mobile banking, there’s less in-branch traffic. That means less old-fashioned face-time and fewer opportunities to cross-sell products and services.

     --> More Customized Communication

You can nurture customer relationships with personalized digital outreach, too. Marketing automation is a way to deliver highly targeted campaigns.

Challenge: Smaller Budgets Than The Competition

Larger financial institutions—like Bank of America, J.P. Morgan Chase, and Wells Fargo—are allocating substantial resources towards digital services and marketing, luring local customers away with promises of convenience and customization. Many smaller banks, with smaller digital budgets, are left wondering how to compete.

     --> Bigger ROI

Your message doesn’t need to be everywhere – it just needs to get to the right people, through the right medium, on a continual basis.

Challenge: The Growing Charm of Big Banks

Of course, nobody wants to be treated like a number by his or her bank. Big data is allowing bigger banks to expertly tailor messaging and services to customers, attracting them like never before.

     --> Winning Over Customers With The Little Things

If they’re in tune with what customers want, local banks still have the edge when it comes to personalizing customer engagement messages to their neighbors and making individuals feel valued.

Why We Recommend Marketing Automation for Financial Services Companies

Marketing automation helps you find exactly the right people to reach out to. Once you find them, you can:

- Send them customized emails that encourage them to consider your bank and its services.

- Track how they use your website to determine what information they’re looking for and then cross-sell those services.

- Convince them to visit special landing pages to take further action, like scheduling an appointment with your bankers

Marketing automation can help banks of all sizes communicate with customers, even if they’re not walking through the doors. It also can help banks reach potential customers. Best of all, it’s a seamless, highly customized, cost-effective process.

Download our new Financial Marketing Automation Guide to find out how you can reach customers more effectively for better conversion rates.

BBG&G is a full-service marketing agency certified in marketing automation. We’re happy to meet with you – in person or over the phone – to talk about how it could work for your financial establishment.  

Call or email me at 845-615-9084 or DeborahGarry@bbggadv.com for a no-obligation conversation.