Marketing in banking has shifted from a support role to a strategic driver of the bank’s vision. Beyond brand and customer engagement, marketing now helps shape the enterprise narrative, ensuring relevance and loyalty in a digital, customer-centric, and highly competitive market. Marketing’s Strategic Contribution to Banking Enterprise Strategy Marketing teams are integral to shaping and executing enterprise strategy in the modern banking industry. In these new financial markets, they act as strategic and executional drivers, ensuring top-level priorities are clearly defined, effectively communicated and successfully implemented across the organization. Here […]
Not so long ago, banks didn’t have to worry so much about customer acquisition and retention. People opened accounts at their local branch, often based on their parent’s recommendation, and stayed with them for life. This multi-generational relationship was good business, and as such, marketing a bank’s services was reasonably straightforward. Is it safe? Is it friendly? Does the manager know my name? Yes, yes, yes! The money rolled in. But banking has changed. Traditional banks are no longer just competing with their Mainstreet rivals. Banks are now challenged by […]
Few other industries can know their customers better than the financial services sector. Banks and credit unions take care of the things that really matter most to American consumers, including their income, savings, loans and mortgages, investments, insurance premiums, and even their kids’ education. With so much information readily available and the right marketing automation software in place, a bank or credit union marketer can go to town and ensure their campaigns are 100% laser-focused. But before we get ahead of ourselves and start looking at the kind of campaigns […]
You’ve heard about it. You’ve probably received some of it from other businesses. But what is SMS marketing, exactly, and how can you use it to serve your existing customers, gain new potential customers, and boost revenue? Is it something you add to your marketing mix or a replacement for an outdated program? As you’re about to see, SMS marketing (or text message marketing) uses a unique channel to reach and engage with customers. SMS marketing has several advantages over other forms of marketing communication and customer service. For one, […]
In such a competitive market, banks aren’t immune to the challenges of earning and keeping loyal customers. Loyalty needs to be earned and re-earned. Customers want to know that they matter, their money matters, their accounts matter, and their livelihoods matter. They want to know they aren’t just an account number, but a person. And SMS is by its very nature a more personal way to communicate than email or direct mail. By using it, you’re staying engaged with each customer and demonstrating through action that they matter to you. […]
