In this article today I’ll be sharing my Top 10 Effective Marketing Strategies for Banks and Financial Institutions to Surpass the Competition.
Ready to get ahead of your competitors?
It’s time to get creative and personal with your marketing.
It’s time to give your customers an experience they enjoy and simply have to share with their friends.
Enjoy these ten tips on how to make your bank or financial institution shine in the minds of your customers:
Create A Customer Experience
Small businesses often have the upper hand when it comes to experience.
They know their customers, know their preferences and build relationships with them.
But, any bank or financial institution can do this, and it starts by making a company-wide initiative to put the customer first, to train employees to look at each account, each face, as a relationship.
This initiative becomes a marketing campaign – a customer experience strategy – when customers love interacting with your bank or financial institution, albeit physically and digitally, and tell their friends about it.
Use Social Media Marketing
Social media marketing is the process of using online platforms like Facebook, Twitter, and LinkedIn to build relationships and interact with potential and current customers.
It can be an effective way to connect with a large audience, share your brand’s story, and build loyalty among customers.
Find out which social media platform your customers hang out and join.
This is the place to share pictures of your employees, show off PR opportunities in your area, tips to make the right financial decisions and get local support.
There are several ways you can help your customers.
Send an email when your partners are offering special incentives or low rates.
People want to hear about the news that matters to them, and you can be at the forefront of this by keeping their financial well-being at the top of your list of priorities.
Pay Per Click advertising
Pay Per Click advertising is an online advertising model in which advertisers pay a fee each time one of their ads is clicked. It is a form of cost-per-click (CPC) advertising.
PPC ads are often displayed at the top or bottom of search results pages, or they may appear in sponsored links.
Using PPC ads is a great way to get your brand out there!
You can target specific keywords and phrases to reach potential customers who are searching for what you offer.
Search Engine Optimization
Search engine optimization (SEO) is the practice of improving the ranking of a website on search engines.
The higher your ranking, the more likely people are to find your website.
There are a number of techniques that can be used to improve your ranking, including optimizing your website content, using keywords and phrases, and building links to your website.
Approach New Markets
One way to stay ahead of the competition is to pursue markets they aren’t pursuing.
Every bank or financial institution has particular groups of customers they serve extremely well.
Know what groups these are for yourself and your competitors, once you’ve perfected your approach in one area, seek a new cohort to help.
These groups don’t need to be huge to make a big impact on your business; you just have to offer the best solution.
Modernize Your Brand
Choose a new message, look and feel that puts the needs of your customer at the forefront of your campaign and redesign.
By showing your focus on a modern approach, you’ll give customers another reason to learn more about your company.
Compete with Competitors Online
If your competitors have a strong local presence, compete with them online.
Offer Features No One Else Has
Technology is always changing.
Today you can buy new equipment that makes it easier for your customers to handle their financial transactions, you can build online tools that meet their needs and make their lives easier.
Adopt the opportunities that technology presents and create a marketing campaign out of it.
Form Business Partners
There are companies you can work with who offer related services.
Hospitals are closest to newborn babies; perhaps they wouldn’t mind a marketing advertisement about your family investment opportunities.
Realtors regularly work with banks and home inspectors.
Reach out to others in your industry and build a new stream of leads.
Cooperative marketing is a powerful but often under-utilized marketing strategy.
Fill Competitors’ Marketing Holes
No one is perfect in every aspect of their marketing.
Identify where your competitors’ holes are and fill them with your company.
Over time you will grow and notice more opportunities to improve
Influencer Marketing is the practice of using influencers (people who have influence over others) to promote your products and services.
Influencer marketing is often used to create awareness about brands, products, services, events, etc., and may involve celebrities, bloggers, vloggers, YouTubers, social media personalities, etc.
There are many different types of influencers, including brand ambassadors, opinion leaders, thought leaders, and subject matter experts.
These people share their opinions about products, services, companies, and trends. Their followers trust what they say and follow them.
There are infinite ways to get your bank or financial institution to stand out.
Today, many of the most successful campaigns are based on being different, creative and giving customers what they want.
It can be intimidating to approach a new avenue of marketing for your company, but if you take the time to research what your customers need, and how you can best reach them, you should be able to achieve impressive results.
NEED HELP MARKETING YOUR BANK OR FINANCIAL INSTITUTION?
Let us help you market your bank or financial institution and get more customers patronizing your services.
Through our marketing expertise, we can help you create an effective marketing strategy that will reach your target audience and increase your customer base.
We can also help you design and implement marketing campaigns that will generate interest in your products and services.
With our help, you can make your bank or financial institution more visible and attractive to potential customers, and increase your market share.