The banking industry is evolving rapidly in the information age, but many banks are behind the times when it comes to their marketing strategy. New customers rarely just walk in the door at a branch office these days. Instead, they scour the web looking for the information they need and new banking opportunities. Consequently, creating a quality web presence is crucial for banks. Below are three essential digital bank marketing ideas and techniques that every bank should be utilizing.
Social media has quickly become an effective way for businesses to reach out to and communicate with potential customers. Consumers are absolutely bombarded by advertisements every day, so it's difficult for traditional media such as TV and radio ads to leave a lasting mark.
Social media works differently than traditional advertising. Advertising on social media platforms leverages users existing social connections to add credibility to the message. When somebody looking for a new home loan or a savings account sees that five of their friends like and trust a particular bank, it has a lot more impact than a 30-second TV spot.
Blogging & Inbound Marketing
Blogging is a main component of inbound marketing and an excellent way for financial institutions to cultivate new customers. Blogging and inbound marketing provides people with the information they are searching for online during the exact right time of their search. Most people don't know their 401(k) from their HSA, but they do understand that financial literacy is valuable and are searching for reliable sources of information. A relevant blog can bring interested potential customers directly to a bank's website and builds trust in the brand.
The trick is that blog content has to offer real value to customers to produce results. Consumers can tell if a blog is just a thinly-veiled marketing ploy. A great banking blog should offer detailed, interesting information about a variety of financial subjects. Marketing and sales pitches should be subtle, and offer customers additional value. For example, a blog post about refinancing homes could include a link to a landing page that offers a free eBook regarding home refinancing best practices.
Search Engine Optimization
Another essential digital marketing tactic for banks is Search Engine Optimization (SEO). Customers looking for a new bank or loan product are unlikely to type the address of your bank directly into their browsers. Instead, they will conduct their search through a search engine. SEO strategies aim to rank your website highly in search engines for the most relevant keywords that your target markets are searching for.
Digital bank marketing ideas can help your financial institution increase the ROI on its marketing efforts and will also help provide analytics to prove the ROI of specific marketing campaigns and efforts. For more information about proving marketing ROI for financial institutions, download our free eBook now!