Consistent, Integrated Marketing Tactics Are Most Effective
New digital capabilities and strategies are evolving but an integrated loan marketing program of new school and old school is the way to reach consumers hearts, minds and wallets.
Sarah. Cooke, Monday, January 21
Marketing has evolved tremendously in the last decade, due in large part to technological advances and better understanding of peoples’ decision-making processes. Data storage has become less expensive and requires less space, especially if your financial institution has incorporated cloud technology. It also makes all that data easier to access and analyze, but don’t be lured by the latest shiny trinket in marketing. Just like branches, consumers want all the different touchpoints at different times.
New digital capabilities and strategies are evolving, but an integrated loan marketing program of new school and old school (improved by modern targeting) is the way to reach consumers hearts, minds and wallets. For example, your website is the modern billboard just waiting for all the consumers to see as they are on their way to purchase new products and services. When your website is optimized aesthetically and for search engines and mobile phones, more people will find it and take notice. Of particular interest to community banks and credit unions, 72% of consumers who performed a local search on their smart phones visited a store within five miles. Thirty percent of mobile searches are related to location, so ensuring your website has the correct keywords for what the consumer is searching for and your locations is critical. More than a quarter (28%) of mobile searches end with a purchase.
Blogs are a popular source for search engine-optimized content. More than half of marketers, 55%, say blogging is a top priority. Blogs offer a variety of benefits. Community banks and credit unions can put themselves out there as thought leaders with the expertise consumers need for the financial concerns. Following a solid content marketing strategy based on information that is useful to consumers will help community financial institutions position themselves as trusted advisers, and keywords within the blogs help you rise to the top when consumers are searching. Content marketing can take some time to build up results, but it certainly will pay off in the end. Nearly half of buyers (47%) viewed 3-5 pieces of content before engaging with a company. Content marketing has also been shown to provide three times the leads of paid search advertising. Don’t discount positivity in your messaging! Consumers are looking for someone to help them out of their problems, so content providing a prescription for success is best.
Melina Palmer, founder of The Brainy Business, will be joining Ser Tech for our webcast, Jan. 24, “Blowing Consumers’ Minds with Behavioral Economics,” to discuss positive framing of your messaging. The human brain, she explains, cannot quickly compute 1.5% APY, but when you turn that figure into dollars in consumers’ accounts, response rates jump. Click here to join us!
Palmer adds that physically holding something can help create a feeling of ownership in consumers, so don’t rule out direct mail or statement campaigns, either. The data used to target direct marketing offers has improved tremendously, saving your community financial institution money. In fact, younger members can be the most responsive to direct mail marketing. Ser Tech has thousands of parameters to target the right members at the right time, earning up to a 12% response rate when you add Triggers to a Fetch Marketing Program. Learn more about Fetch and Triggers here!