After the financial crisis in 2008, consumer trust in financial institutions took a hit. Banks and Credit Unions had to reevaluate and explore a new method of gaining trust. They turned their focus to the consumer experience, wondering how they could improve the mostly stagnant customer journey.
Every marketing director faces the challenge of defending resources – whether it’s making the case to add in-house talent or justifying the need for more marketing dollars. When you’re being asked to do more with less, these are dreaded conversations.
Long gone are the days of filling out a deposit slip at your local brick-and-mortar branch or meeting with your advisor in person to discuss your portfolio. As technology continues to evolve and consumer expectations for more personalized and efficient services grow, it’s crucial to keep up with trends, even in banking.
I used to think a lot about becoming a rock star. But after years of not doing anything rock stars do to become rock stars, hence I am not one.
Identifying the right players for your internal marketing team can be a painstaking process, but it’s arguably one of the most important decisions you’ll make. Even the best employees, however, need a clear understanding of your expectations, processes and goals to operate successfully.
Consumers are starting, and sometimes completing, their research of financial products and services online. Online is the least committed place for consumers to start researching their options in what they feel is a non-biased platform that they can control.
Financial services marketing is slow to change. Consumer desires are not. That provides opportunity for financial institutions that can mentally separate the stifling government rules and regulations from their core offering. To be frank, to have more of a ‘can do’ than a ‘can’t do’ attitude.
We often hear that banking is “a relationship business.” Commercial banking, in particular, relies heavily on your bank’s experience and word of mouth.
Here’s a question- what has your bank done for you lately? Keeps your balance correct? Makes sure to deduct your car payment on time don’t they? Got a really cool debit card design…. Satisfied? Now that I bring it up, you’re probably not.
For me, Facebook is a way to make personal connections. To stay in touch with old friends, make new friends, to be entertained, amused and interact intimately on emotional levels. For this and other reasons, I don't "like" many businesses on Facebook. The ones I do like are smaller, independent companies whose products or services I want to keep tabs on, and those that tend to have more to gain than loss by injecting a little personality into their posts.
=Unbanked. Until this week, I hadn’t heard the term. It seems Oklahoma has one of the highest rates of unbanked and underbanked citizens in the country.