In today’s technological age, it is imperative that companies digitally market themselves and connect with prospective and current customers online. The majority of people use online search engines to find, examine, and compare products and services; and when it comes to credit unions, members are managing their money via smartphones, apps and computers as opposed to walking in.
A large part of a bank’s success depends on the marketing strategy and efforts that are employed. Internet marketing is one of the most important components of a comprehensive bank marketing strategy, with more than 80% of consumers turning to a search engine to find the products and services they are looking for. Utilizing these 10 best bank internet marketing tips can help strengthen your bank’s internet marketing efforts and also help you prove your ROI with digital analytics.
With so many advertising channels available, determining the most effective strategy for your marketing dollars can present challenges. Traditional bank advertising has proven highly effective for many years. But with advances in digital marketing and the popularity of the internet, it’s critical to analyze the role of various strategies in maximizing marketing ROI for financial institutions.
Traditional marketing encompasses proven methods for establishing your bank’s brand presence such as television spots, print advertisements, radio spots, billboards, flyers and more. It is likely that your current bank advertising strategy utilizes these types of mediums. Traditional advertising is great for brand awareness and for keeping your bank at top of mind for potential customers.
In a perfect world, hiring managers would visit an "employee store" and choose the candidate that best fits their needs. While that idea is pure fantasy, social job sharing sites fill the bill like no other offering available today. They are powerful tools businesses can utilize to forge hiring practices that yield better results.
Businesses who avoid expanding their employee searches into the social job site arena are stuck with a smaller candidate pool of less qualified applicants. Traditional means of recruiting can leave you with a bad new hire, creating issues with performance quality and, eventually, turnover.
Four ways to overhaul old-school recruiting by utilizing social job sharing sites are:
In today’s age, social media is an integral part of the marketing strategy of all companies across most industries. Although financial institutions entered the social media sphere a bit late, some now understand the power of connecting with their customers directly and building an online community. Considering that social media can be a sensitive platform where even a small mistake can tarnish your brand’s reputation, it’s not just about creating a Facebook or Twitter account and handing it over to an intern. Social media is serious business, and when it comes to financial institutions, it leaves absolutely no room for mistakes. Here are some social media tips for banks to create cohesive, engaging and effective online communities:
Have a Strategy
Don’t just jump onto the social media bandwagon; have your strategy set. When done right, social media should improve your marketing ROI by engaging with customers, promoting products and providing relevant information. Every brand has a persona, and the social media strategy must be aligned to help strengthen it. The strategy must be devised keeping the target market in mind. It is best to refrain from blatant self-promotion; however, it is recommended to speak to your strengths subtly.
Keep the Tone Balanced
Financial institutions cannot adopt the same tone and playfulness as some other brands; however, you also cannot have such a serious tone that you fail to engage the community. Find a middle ground where you can connect with your followers or online community members on a personal level without losing professionalism. Also, it’s important to encourage conversation. Equip your team to handle questions and comments efficiently and in a friendly manner.
Don’t: We are the best bank in town!
Do: Thank you to all for voting us the best local bank of the year! We look forward to more years of serving you!