Banks have to fight harder than ever to attract and retain customers. A press release by the American Consumer Satisfaction Index (ACSI) reported that banking customer satisfaction is down this year, breaking the upward trend seen the previous two years.
Effective bank marketing is crucial in today’s age, and the holidays are the perfect time to improve your bank's image and get customers in the door. Why? There are plenty of community activities that banks can participate in or host during this time of year.
Opportunities for Community Involvement
An easy, common charitable activity banks can take part in is a food and/or toy drive. Staff and community members are encouraged to bring non-perishable groceries and/or toys to the bank’s main office for collection.
Another community event your bank could host is a free holiday budgeting class. Finances can get tight during the holiday season, and many consumers find holiday budgeting tips and best practices helpful. Hosting an informational finance class will also establish your bank as a financial literacy resource in the community.
If you are looking for a low-touch community involvement option, support a local charity by adding a “Donate Now” button to your website during the holiday season.
Benefits of Community Involvement
Aside from being a great community member, these types of contributions have several fringe benefits that make marketing for banks more effective, which include:
- The community will see the bank in a good light. If consumers are receiving information about contributing to the greater good as opposed to strictly promotional materials, consumers will be more in-tune to the bank’s messaging.
- Brand awareness. If a bank hosts a charitable drive or informational class, there will be an increase in people visiting the bank as well as an increase in awareness. The bank may also receive additional exposure from other groups promoting the charity or event.
- Increase in employee morale. Employees will feel good about themselves, their employer and their community when they work together to help others.
Community involvement is an important part of marketing for banks and can lead to an increased ROI on your marketing budget. For more information about marketing ROI for banks, download our free eBook today!