The other day I was reading an article that defined the top marketing priorities for banks. The top 3 (2016 State of Financial Marketing Report: The Financial Brand Digital Banking Report) were as follows, along with the percentage of banks that named each dynamic a top priority:
- Cross-selling, deepen relationships with customer, improve share-of-wallet and increase products per household (49%)
- Loan Growth (48%)
- Customer acquisition (42%)
These three issues dominated the voting among participating banks. Other issues included deposit growth, attracting a younger audience, increasing digital channels and analytics, but each of these issues generated a fraction of the interest as the Top 3. It struck me that in this digital world and the growth of social media, these three priorities echoed a traditional set of goals that were just as important as they were 20 years ago.
That leaves us with the question as to how best accomplish these goals. Is it time to regenerate efforts in cross-sales training, supply line personnel and calling officers with sales-driven marketing pieces or to reach out to potential borrowers and prospective customers with an extra dose of energy? It’s a redundant question, certainly, but one that warrants consideration as you develop your marketing plan for 2017 and beyond.
The Eversole Group stands ready, as always, to assist with designing and developing the marketing and advertising pieces that will help you attack these goals or to move forward in the promotion of other products, financial services, loans and technologies. What I hope will result from this brief presentation is a kick-start to your thought process that will help make 2017 a year in which you have reached your goals…whatever they may be.