Marketing in the banking industry has evolved from a function that simply follows leadership directives to become a strategic enabler that significantly influences the overall vision of the bank. As such, marketing’s responsibilities extend beyond brand positioning and customer engagement. It now plays a pivotal role in steering the transformation of the entire enterprise narrative, ensuring the bank’s relevance in a market where customer loyalty is no longer guaranteed and leading in a digital, customer-centric, and competitive environment. Marketing’s Strategic Contribution to Banking Enterprise Strategy Marketing teams are integral to […]
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 […]
The role of the Chief Marketing Officer (CMO) in the banking industry has changed dramatically in recent years as their presence has become more prominent in the C-Suite. Traditionally, CMOs focused on brand awareness, advertising, and public relations, relying on intuition and limited metrics. Their role was tactical, centered on traditional media, and operated in silos with minimal strategic influence. Today, CMOs have transcended their traditional roles and emerged as strategic leaders. They harness the power of data, analytics, and digital tools to drive customer-centric marketing. Their influence extends beyond […]
Marketing automation technology has already taken powerful marketing channels, like email, SMS (text), social media, and content marketing, into a new age. Thanks to platforms like emfluence, marketers have the ability to send the right message to the right person at the right time and scale with incredible levels of efficiency. And the pace of change isn’t about to slow down anytime soon. The growing influence and continued integration of Artificial Intelligence (AI) into marketing automation platforms means the potential for this technology to quickly evolve into something akin to […]
Email marketing was never intended to be a one-way communication channel. Despite the best efforts of those ineffective marketers who continue to hide behind “no-reply” email addresses, there has always been the opportunity to engage email subscribers in a conversation. This strategy has always relied on marketers deploying relevant, timely, and engaging email campaigns that encourage the kind of interaction that enables relationships to grow. With the advent of sophisticated marketing automation technology, the opportunity to take these relationships even further is literally off the scale. For marketers who value […]
