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4 Essential Tips for Financial Institution Marketing

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Financial institution marketing is an ever-evolving practice, both in keeping-up with emerging technologies and managing a regulatory heavy climate. What can the savvy CMO do to ensure that his/her brand remains up-to-speed? Here, BIGEYE shares 4 Essential Tips for Financial Institution Marketing.

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4 Essential Tips for Financial Institution Marketing

  1. 1. 4 Essential Tips for Financial Institution Marketing
  2. 2. It’s often difficult to figure out the most “essential” strategies for bank marketing success. These tried-and-tested outreach methodologies can create sizable success within your financial institution…
  3. 3. Here are
 Highly effective tips to help you to help increase your bank or other financial service’s ROI:
  4. 4. Develop a Strategy Prioritization Matrix 1
  5. 5. The first step to success in the financial realm is prioritization. A Strategy Prioritization Matrix can help you to determine the most strategic projects to help your business get the most “bang for its buck.” Create the matrix by listing the impact on the X axis (high or low) and the ease of implementation on the Y axis (hard or easy). Then, within the matrix, classify potential projects in one of four buckets: Quick Wins (High Impact, Low Effort), Must Haves (High Impact, High Effort), Low-Hanging Fruit (Low Impact, Low Effort) and Money Pits (Low Impact, High Effort).
  6. 6. Your matrix might look something like this: This will help clarify those areas requiring the greatest focus.
  7. 7. Implement a “New Mover” Customer Acquisition Strategy 2
  8. 8. Prospective clients that may be relocating to your area will likely be in search of a local bank. Depending on a potential customer’s degree of wealth, he or she may also need other financial planning services such as estate planning or wealth management. Creating a strategy to deliver your message into prospect’s inbox will assist in the growth of your audience.
  9. 9. It’s important to have a strategy in place to ensure that yours is the first financial services company to reach these potential clients, including the development of efficient on-boarding processes. For many financial service providers, these outreach efforts can prove to be “Quick Win,” as outlined in the previous matrix.
  10. 10. Invest in Digital Retargeting 3
  11. 11. “Retargeting is often the most effective and efficient acquisition strategy on a cost-per-account basis. It’s also a good way to capitalize on a person’s interest, as retargeting is only triggered after a person visits your site or clicks on your content.” In many ways, digital retargeting can successfully work in tandem with direct mail efforts, as one banking business achieved a lift of 40% after pairing digital retargeting efforts with a direct mail campaign. According to Wagner dos Santos, BIGEYE’s senior director of marketing and strategic planning…
  12. 12. Collect Insights for Interactive Improvement 4
  13. 13. Through surveys and new account processing, you can grab significant information about your customers that you can then use for future marketing and outreach efforts. And, through iteration, you can continue evolving your campaigns and strategies for optimal growth.
  14. 14. Need more ideas for effective ways to reach potential audiences with your bank or financial services marketing? Contact us at our Orlando ad agency, and we can help you tailor your customer acquisition strategies to help generate the most ROI for your business.
  15. 15. 500 S. Magnolia Avenue, Orlando, FL 32801 BIGEYEAGENCY.COM | 407.839.8500 500 S. Magnolia Ave., Orlando, FL 32801 BIGEYEAGENCY.COM | 407.839.8599

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