Items include
marketing
Feb 15, 2024
As expectations for personalized financial services grow, CFIs have an opportunity to peg relevant messaging to life and business events. Institutions can use starting key milestone triggers for marketing activity in near real time. We review some examples of what major triggers could be for both consumers and business customers as well as what types of products and services to market to that customer in response.
Aug 18, 2022
The next great boom in refinancing will likely be in CDs and other deposits, which are vulnerable to customers who decide to pay penalties and reinvest at higher interest rates. A rising-rate environment is also a potentially fruitful hunting ground for fintechs and neobanks, which already offer higher rates than traditional institutions. We discuss three strategies to help CFIs hold their best customers and stress test for CD and deposit losses.
Oct 5, 2023
Your institution’s social media channels aren’t just for marketing purposes: more customers are using them to ask questions and seek help regarding account issues. We discuss the best ways to handle customer service and support via social media.
Aug 30, 2023
Most customers want personalized experiences, which require CFIs to collect data. But customers are also becoming increasingly concerned about how their data is being used. We discuss best practices around how institutions can collect and use data to gain and retain their customers’ trust.
Jul 13, 2023
Taking steps to make your CFI more user-friendly for persons with disabilities can also translate to greater customer satisfaction. With heightened ADA rules pending, auditing your ADA friendliness is a smart thing to do.
Jun 26, 2023
CFIs have a treasure trove of customer data, including payment data. By analyzing such information, you can more effectively offer personalized marketing messages that customers have come to expect. We explore how you can better leverage your customers’ payment data.
Jun 1, 2023
Following recent bank failures, there is a sense of unease in the industry and depositors may have concerns about the reliability of their institutions. We share four strategies CFIs can use to effectively communicate with their customers and alleviate their fears.
Apr 27, 2023
Localizing the design of your branches can boost customer loyalty, enhance your particular brand, and make new customers walking in the door immediately feel at home. Here are some strategies other CFIs have used to add local flair to their branches that can help inspire your own ideas.
Apr 26, 2023
Public perception has been hard for many CFIs to endure in the wake of recent bank failures. But financial institutions with the words “Signature” or “Republic” have had a particularly tough row to hoe. If the next bank failures have the words “National” or “First” in their names, yet more CFIs may find themselves tainted by association, even if they’ve done nothing wrong. We discuss how to distinguish yourself in the public’s perception.
Sep 27, 2022
CFIs would do well to collect and analyze data on customer behaviors and spending habits — not only from their own systems, but also online portals and apps, as well as their partners’ APIs in an open banking model. We discuss some opportunities.
Jan 24, 2023
Data mining has become increasingly important for tailoring products and services to the needs and desires of customers. But not all data is created equal and CFIs should take steps to utilize customer information that others do not have access to.
May 10, 2022
Community financial institutions may not consider mobile ads when defining their advertising strategy. However, with the average American using their smartphones over four hours a day, you could have a captive audience for mobile advertising. We explore mobile ad spending, the types of mobile ads, and what kind of content to use.
Oct 11, 2022
How many features should a mobile banking app contain? According to one survey, the sky’s the limit — provided the app remains easy to use. We delve into the seven must-have features that customers are seeking, as well as five additional features to help your institution’s app stand out.
Jun 6, 2018
Mobile geolocation is now being used in the financial industry. But, according to Cornerstone Advisors, banks need to do it right to keep customers happy.
Aug 9, 2019
The CFPB has significantly stepped up its enforcement of UDAAP violations. We offer UDAAP reminders to keep your bank compliant.
Jun 10, 2019
In our new BID feature, "Inquiry and Insight", we provide questions from readers and bankers and do our best to give you relevant, insightful answers.
Apr 4, 2019
There were 2,258 website accessibility lawsuits in federal court in 2018. Of those, around 130 involved a credit union or bank. We offer tips to keep you safe.
Jun 25, 2018
All banks are trying to fine-tune the onboarding process. We provide some creative ideas from community banks.
Feb 26, 2018
There are still lots of questions around bank branch redesign. We help with some of the answers.
Nov 4, 2022
Continuous reviews of your website’s user-friendliness can be the difference between a positive customer experience and a lost opportunity. A study by Forrester concludes that a well-designed and easily navigated website can increase your conversion rate — the rate at which visitors take actions, like submitting a contact form, that directly solicit your services on your site — by up to 400%.
Sep 13, 2022
Every CFI wants to attract new customers, and many have a marketing plan in place to help them accomplish this. The only problem is that CFIs don’t need just one marketing plan. They need multiple marketing plans to help them attract the different demographics within their customer bases. We explain how to develop customer segments and market to each one.
Oct 14, 2022
When potential customers search for financial services online, where does your brand show up on the results page? Whether your brand comes up first or twenty-seventh, it’s important to stay up to date on what determines this ranking and make changes to your site accordingly. We’ve compiled a list of tips for enhancing your website with original, compelling content, as well as practices you should avoid.
Oct 25, 2022
Referral marketing is one of the most affordable and effective marketing strategies, but not all referral programs are created equal. We cover what CFIs should know about these programs, including examples to inspire you and six tips to improve your referral program.
Mar 2, 2022
TikTok is one of the most popular social media platforms and community financial institutions should strongly consider using it for marketing. With 689MM users worldwide, opportunities abound to reach new customers and expand brand awareness. We offer more reasons to consider this platform, along with TikTok’s content creation guidelines.
Nov 10, 2021
Blogging may not sound like a serious marketing activity, but it is one of the most popular ways to connect with customers and leads these days. In fact, 91% of B2B companies use blogs or similar content marketing. If you want to start blogging or simply fine-tune your skills, here are six steps to creating a successful blog post.
Nov 16, 2021
Community financial institutions know all about customer service and customer research. However, there are many ways to use this research. Are you ready to use it for your larger business goals? ROI could be as high as 7x when coupled with analytics tools. We highlight three areas to effectively use customer research.
Jul 15, 2021
Have you reviewed your institution’s branding lately? If not, it may be time to do so. Competition is fierce, so it is important to stand out and communicate your values to your customers and prospects. We give you five indicators that your branding needs a makeover, including a similar name as others, a recent big change, and lacking a distinctive tagline.
May 6, 2021
The pandemic has changed many things for bankers, including their marketing. As businesses reopen and consumers start spending, we enter into the “new normal” which is a time to reassess marketing plans, as customer needs change. We provide you with four ways to effectively reach your customers for the biggest bang for your marketing buck.
May 17, 2021
Podcasts are smart marketing. They have a recall rate 4x higher than other digital channels and the number of US podcast listeners is expected to grow 16% YoY to over 106MM. If you want to start a podcast, the steps include planning a series, reviewing other podcasts, and finalizing your podcast format.
Mar 24, 2021
Going viral may only seem relevant for those on TikTok or teenagers, but some community financial institutions could use this marketing tactic to entice the ever-increasing Gen Z bank customer. We highlight how video clips and posts can go viral using popularity, trust, shared identity, and fear factor drivers.
Feb 9, 2021
Influencer marketing, asking people with a large social media following and high credibility in the field to spread your message, is a big deal right now and bankers are taking notice. It is one way to attract more customers and new talent. A few of your peers have broken ground with influencer marketing. We share their stories and give you information on paid and earned influencer marketing.
Jan 28, 2020
Social media presents a myriad of challenges for financial institutions. Yet, as your customer demographics shift, it becomes more important. We have some tips.
Dec 16, 2019
Many younger people are concerned with financial security. Could wealth management be a gateway for millennial customer acquisition?
Sep 6, 2019
Looking for ideas to enhance communication with your customers? We provide some new insight.
Aug 20, 2019
Social media audiences have changed. Is your financial institution paying attention?
Aug 7, 2019
According to the findings of a Nobel-Prize winning economist, what people remember about an experience is the end. We explain how this can help your bank.
Aug 5, 2019
Community banks do creative community involvement well. We share a few examples.
Feb 20, 2019
According to one top advertising agency, we have gone from being exposed to 500 ads a day in the 1970s to more than 5,000 a day today. How can community banks break through that level of noise?
Oct 25, 2018
As more people are using bank websites or mobile apps to open accounts or apply for other services, bankers need to continue to improve their web forms. We have some considerations to include.
Oct 22, 2018
A community bank's strength is in its customer relationships. So, it seems natural to bring up microsites, to continue enhancing and solidifying these relationships.
Sep 14, 2018
An ABA survey finds 76% of community banks believe that social media is important to their bank. But, finding the right customers and converting them through social media is easier said than done.
Jul 5, 2018
An annual business banking study found 70% of small firms without a business checking account were denied a business loan in the past 2Ys. We provide insights from this study to help you connect to more business customers.
May 4, 2018
Some community banks are shifting from traditional ads to digital ads. Is it worth switching?
Apr 3, 2018
Seventy percent of Americans use social media today. How to optimize your bank's social media presence.
Feb 14, 2023
Attracting Generation Z customers requires a thorough understanding of the unique needs and challenges of this group, as well as the ability to demonstrate such knowledge in ways that will resonate.
Mar 17, 2023
TikTok is more than just a site filled with entertaining videos. It has also become a go-to source of financial advice for younger consumers. We provide five tips on how to leverage this social media platform to connect with Gen Z.
Sep 6, 2022
Online chat customer engagement solutions have been expanding rapidly among banks. But when customers need to switch to a voice conversation, the transition can be frustrating if it requires closing the chat box and then dialing in to connect to an agent again. We discuss ways to take the headache out of online chat for customers and your CFI.
Sep 26, 2022
Connected TV (CTV) is rapidly becoming the medium of choice for a growing number of consumers — a shift that provides CFIs a cheaper and more effective way of marketing. We dive into why CTV is so effective and what to keep in mind, if you want in on the trend.
Nov 14, 2022
Branding and marketing overlap, but approaching them as one and the same is likely to prove ineffective and fall short with customers. Successful marketing requires first establishing a brand that resonates with customers’ experiences and values.
Dec 22, 2022
After a few tumultuous years for businesses, where and how to best deploy your CFI’s marketing budget will be critical in the year ahead.
Feb 2, 2023
Businesses in practically every industry today are personalizing their messaging to their customers. However, personalization efforts in the financial services industry are lagging behind those in other industries. CFIs can reap a number of benefits by creating more personalized experiences for customers.
Feb 7, 2023
Customer rewards programs matter. Converting loyalty programs to loyal customers necessitates simplicity, creative thinking, and ongoing awards. Anything short of this will leave customers flat and see them jump ship for other financial institutions with more appealing rewards programs.
Oct 8, 2021
Storytelling may not seem suitable for banking. But, since people remember stories better than data, it could be a good way to connect with your customers and prospects in your marketing efforts. Here are the three key elements for a story, along with two good examples within the financial industry of storytelling.
Nov 5, 2021
With marketing content, you can produce 3x the leads as traditional advertising for 62% less money. With competition in every industry more fierce than ever, having the right content to attract prospects and retain customers is vital. Here are four content strategies to get you started.
Jan 27, 2022
With gaming revenue reaching over $180B worldwide, some companies are tapping into the virtual worlds of online gaming to market their brands and engage with new customers. While this marketing channel is still in its early stages, some creative and forward-looking community financial institutions may do the research and take the leap. We share an update on metaverse marketing.
Jun 29, 2022
With social media platforms constantly altering their algorithms, CFIs can find true value moving beyond free content on social media channels. To boost your brand recognition, consider developing a budget for social media advertising. We will share a few things to consider to help navigate and execute more effective social media that reaches your target groups.
Jul 11, 2022
Consumers have very short attention spans. According to one consultant, a marketing pitch has a dauntingly short window in which to connect to an audience – literally, the blink of an eye. CFIs that have a good “blink factor” stand a better chance of capturing interest. We offer you a quick cheat sheet.
Aug 16, 2022
As the world’s attention span increasingly diminishes, microcasts — mini-podcasts — have become a popular and effective way of marketing to customers . These short audio segments can drive your SEO rankings and social media following while helping establish your CFI as an industry expert.
Aug 23, 2022
The majority of women expect to be solely responsible for their own finances at some point in their life and a large number are stressed about money. Yet, a lack of knowledge and concerns about risk are major barriers that keep women from making financial preparations. We look at how and why CFIs should tailor products, services, and marketing to women’s unique needs.
Nov 27, 2020
Digital ads have evolved in the past few decades. Is it time to take the plunge? We give you the lay of the land.
Jun 18, 2020
Despite privacy concerns, experts predict that 55% of homes will own at least one smart speaker device by 2022. Is your website voice-search ready?
Dec 12, 2019
Online searches often send people to fintechs and digital-only platforms. What can your institution do about this?
Apr 18, 2019
There are some hard-won tricks to the trade when it comes to conducting successful digital marketing campaigns. We share some tips from fellow community bankers.
Jul 13, 2018
The younger millennials and Gen Z already outnumber the baby boomers, and by 2014 already controlled more than $2T in assets. We outline some creative ways community bankers can bring them in as customers.
May 18, 2018
Charitable connections not only help your bank's community, but also boost your brand and the commitment of your employees. How to proactively plan your charitable connections.
May 17, 2018
According to a Barlow Research Associates Flash Panel, small business customers appreciate it when their bank proactively offers solutions. How to best do that as customer needs change.
May 14, 2018
To keep your LinkedIn profile healthy, there are a number of things community bankers can do. We map them out for you.
May 7, 2018
Media attention can be helpful for your bank. However, cyber criminals can use the resulting information for attacks against you and your bank. How to be media savvy and safe.
Apr 24, 2018
Bank executives can be media savvy. But, are you getting the most out of your media opportunities? We show you how.
Apr 19, 2018
Big banks have real time messaging as a standard practice, but even some community banks have started this practice. We provide you with the reasons why.
Apr 17, 2018
Contrary to popular belief, many millennials actually care about their finances. Tips to help your millennial customers with their financial goals.
Mar 26, 2018
ICBA's 2018 State of Community Banking Survey finds 66% of community bankers have growth as their top business goal for 2018. We provide the survey's highlights.
Mar 22, 2018
Marketing automation is a dominant theme with banks, as efficiencies are sought. Some tips to start your bank's marketing automation.
Feb 16, 2018
CRM is evolving with new machine learning capabilities. How can this help community banks?
Feb 2, 2018
More community banks are recognizing their small business customers' good works, which can provide them with reciprocal rewards. What some of your peers are doing.
Jan 23, 2018
Women are becoming more influential in business. They also control more than half of personal wealth in America, so are a growing client segment. Key opportunities abound for wealth management and small business loans.