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BID Newsletters
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.
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.
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.
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.
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.
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.
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%.
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.
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 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.
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.
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.
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.
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.
Aug 18, 2022
The next great boom in refinancing probably won’t be in mortgages. Instead, it 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, neobanks, and other startups to lure deposits away from traditional financial providers. CFIs should consider these three strategies to help hold their best customers and stress test their businesses for CD and deposit losses.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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 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.
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.
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.
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?
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 12, 2019
Online searches often send people to fintechs and digital-only platforms. What can your institution do about this?
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 9, 2019
The CFPB has significantly stepped up its enforcement of UDAAP violations. We offer UDAAP reminders to keep your bank compliant.
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.
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 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.
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.
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 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.
Jun 25, 2018
All banks are trying to fine-tune the onboarding process. We provide some creative ideas from community banks.
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.
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.
May 4, 2018
Some community banks are shifting from traditional ads to digital ads. Is it worth switching?
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.
Apr 3, 2018
Seventy percent of Americans use social media today. How to optimize your bank's social media presence.
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 26, 2018
There are still lots of questions around bank branch redesign. We help with some of the answers.
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.