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.

Related Blogs

The Ultimate Guide to Creating a Comprehensive Marketing Plan for 2024

Having a robust marketing plan is non-negotiable. It not only outlines your organization’s strategy and direction but also equips you to adapt to the fluid marketing landscape expected in 2024. Unlocking the potential of a well-crafted marketing plan empowers you to pinpoint your target audience and showcase how your product or service uniquely meets their…

Read More

An Introductory Guide to Generative AI & Marketing

By Deborah Garry, Founder & CEO There has been tremendous media coverage and hype around AI lately – and for good reason. Although Artificial Intelligence has been around with us since the 1950’s, AI has seen a resurgence in growth and interest driven by today’s computers’ computational power, speed, and ability to harness the vast…

Read More

Mastering Social Media Advertising: Tips for Successful Campaigns

Being able to master Social Media Advertising is not easy but also not impossible. It can take a lot of thinking and strategic planning but in the end, the results of the campaigns will make it all worth it. Social media has taken over advertising by storm and it is just the beginning. Here are…

Read More

Earned Media is Trusted More Than Paid Media

The public relations industry has been evolving for decades. However, in recent years, it has completely transformed. Gone are the days of simple media relations. Traditionally, public relations is considered earned media. When an influential person or media outlet talks about a product or service, that is earned media. You did not have to pay…

Read More