Furthermore, canceling and extending campaigns has never had less red tape, so your institution has all the flexibility in the world to tailor its digital marketing campaigns as the need arises. Digital marketing offers unparalleled reach. Never in the history of marketing has it been this easy to access a global audience. The main problem marketers face is learning how to restrict this flow of information to just their targeted audiences. You see, digital bank marketing has a lot of perks despite being cheaper and much more effective than traditional tactics. Here’s how your financial institution stands to benefit by switching to a marketing plan that’s based on digital channels. You don’t have to look far to see that companies left right and center are paying more attention to digital marketing.
AdvertisingAge estimates that 80 percent of companies are interested in expanding their digital marketing budgets. It is quite expensive. Compared to digital marketing, good old traditional advertising will eat through your marketing budget much, much faster. Technology has brought us marketing automation as well as the ability to calculate marketing return on interest and track sales. This has made it possible for companies to test marketing campaigns, optimize them for different audiences, and deploy them faster for increased effectiveness.
As a discipline, marketing has evolved over the past few decades to become what it is today. Earlier, marketing strategies were primarily a means of spreading brand awareness. For the traditional financial institution, this means that a change is necessary. A change that integrates traditional marketing plans with digital strategies that produce measurable results, insightful analytics, and ultimately, feasible results.
Instead, be their reliable financial advisor, offer them the best interest rates in town, and give them customer service to write home about. There’s a lot of ways to reward your customers for staying loyal. You can reduce ATM usage fees, offer them discounted loan and mortgage rates, or even increase their savings and checking account interest rates. It doesn’t matter how big or small your institution is, targeting local audiences with financial services tailored to meet their needs is as sound a marketing strategy as any. Your customers feel more confident approaching you for financial guidance, and they will more likely be inclined to use your financial services as well as recommend them to others. Body language, facial expressions, friendly familiar faces all contribute to forming an emotional bond, which is extremely important for customers.
This rounding out of your customer takes effort, but94 percent of marketersknow it’s worth it. The key is to consistently offer value in all your services. Don’t strive too much to impress with endless promotions and marketing gimmicks.
Your co-workers are going to be the reason you go to work every day and if you have a sense of quality customer service; your customers. There were constantly times where I would send a message or email, and it would be completely disregarded. If you need them, you have to send multiple messages before you get a response back. They also tell you that they love “promoting within the company, ” but they were constantly hiring new folks.