How to Optimize Your Bank Media Planning

Posted by Lindsay Borgen on April 30, 2015
A few decades ago, marketing for a bank was rather straight forward. The bank would place ads in newspapers and television spots, as well as trade publications and magazines. The only real decisions that went into the target marketing usually revolved around what stations and magazines to advertise in along with what sort of budget campaigns should have. However, times have changed, and there are countless new marketing opportunities for banks to utilize. With so many mediums for marketing messaging available, bank media planning can become easily overwhelming. However, digital marketing strategies and combining traditional and digital marketing can help you prove and increase the ROI on your bank marketing budget.

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Traditional Media Marketing

While digital marketing is the new kid on the block, it does not mean traditional marketing should go by the wayside. Traditional marketing provides a blanket approach, where the bank can reach a wide demographic quickly and spread brand recognition. Monitoring and proving the ROI on a traditional marketing campaign can prove difficult; however, by directing potential customers towards specific landing pages or URLs, you can start to identify the results of traditional media.

Digital Media Marketing

Digital marketing strategies utilize variables in order to target a very specific key demographic. With the inclusion of relevant keywords and long tail keywords, along with age demographics, locations and other more personalized variables, it is possible to directly target markets with your marketing campaign. This way, instead of promoting one marketing message to a mass market, it is possible to have individualized messaging targeted towards specific demographics.

Combining Traditional & Digital and Proving ROI

Digital marketing makes it easier to monitor where exactly customers come from and how they reached your website. Through digital marketing strategies such as social media ads, search engine optimization and pay-per-click, you can analyze insights as to who is coming to the bank's website or landing page and how they are interacting with content. Additionally, you can compare final sale numbers to webpage visitor numbers to see which visitors converted into customers. By using digital marketing analytics, you can evaluate exactly where visitors are coming from, which in turn makes it easier to adjust bank media planning towards the marketing strategies that are most effective and produce the highest ROI.

For more information about proving and increasing the ROI on your bank’s marketing budget, download our free Marketing ROI eBook now!

Marketing ROI for financial Institutions

Topics: Financial Marketing, Bank Marketing, Financial ROI, Traditional & Digital Strategies, Traditional Marketing, Media Planning

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