Financial Marketing For Banks

Financial marketing for banks involves a simple but diverse toolkit: strategic thinking, creative branding, and interactive marketing ideas. Yes, the financial space is competitive and vast, but if you keep these fundamentals in mind, you are on your way to reigning in new customers and creating a brand identity that cannot be forgotten. Stay ahead of the curve by implementing the tools—strategy, creativity, and interaction—in conjunction with one another, and we guarantee you will find financial marketing success!

Financial marketing for banks requires strategy and due diligence, bottom-line. In order to reach the right people with the right message, you need to take a step back, assess your options, and research the most effective marketing solutions. Don’t waste your time or dollars shooting in the dark; marketing for banks doesn’t have to be a guessing game! Bolster your success rate by analyzing your competitors, your resources, and your anticipated outcomes. Seek out focus groups, conduct case studies, and engage in brand discovery and brand strategy initiatives, and we are certain you will craft a clear and winning solution.

While strategy helps you connect with your desired customer base, creativity ensures that your bank’s brand remains in their memories. Don’t limit yourself to out-of-date marketing strategies—your financial brand doesn’t have to remain in the confines of your office! Incorporate a combination of mass media techniques into your campaign: try digital, print, and television to impact the broadest and most diverse audience. We promise your financial marketing campaign will be more memorable if your bank serves up and executes a campaign that is chock-full of attention-grabbing designs, information-rich content, and varied delivery methods.

Once you have hooked your customers with your creativity, keep them coming back with your interactive services. Marketing for banks is most effective when you engage your target audience using technology. Considering the up and coming tech-savvy generation, this should come as no surprise. Give your customers an opportunity, no a reason, to explore your bank’s products and services by displaying QR codes, and hosting social media sites and email blasts. Automatically connect with them by posing questions on your Facebook or Twitter page—a guaranteed route to immediate engagement. Or become an educational resource by providing them with helpful tips to bolster their financial health and knowledge. Remember, when it comes to marketing for banks, maintaining your brand online is as important as it is offline!  

About image.works

Since 1995, image.works’ innovative marketing materials have been helping financial institutions and healthcare organizations across the country build their brand and enhance their success. With products ranging from newsletters and annual reports to direct mail pieces, brochures and more, image.works consistently produces big-time results while providing all the personal attention of a small company. Experience the image.works difference today by calling 800.777.1663 or exploring www.imageworksdirect.com.

How to Use Your Bank Brochures in Marketing for Banks

As one of the most traditional forms of bank marketing, everyone knows that the point of a bank brochure is to offer more information about a product or service. But what you may not know is that how you use your bank brochures is just as important as having readable content and an eye-catching design. Check out four ways to use your brochures for greater bank marketing success.

Point-of-Sale When a customer opens a new account or starts a new service, a bank brochure should be given to them to explain the product/service they just signed up for. While you will explain the product/service to the customer when they are there, having a brochure to take home is a useful reference when they have questions or need to review what they’ve signed up for.

Response Response brochures should be sent to customers who request more information about one of your bank’s specific products or services. As a bank marketing piece, these brochures can have an impact on whether or not interested customers choose a product/service from your bank. Provide information related to the inquiry, along with other relevant information and instructions on how to get more information or how to sign up for the product or service.

Direct Marketing A direct marketing bank brochure can be sent out as part of a direct mail campaign to provide information and motivate recipients to request more information or sign up for a product or service at your bank. Be sure to match the design and feel of your other direct mail pieces in the campaign, even if that means ordering new brochures. These brochures can be targeted to a certain demographic using a specific mail list or can be sent to an entire neighborhood, depending on your bank marketing goals.

Account Management Support When your account managers are working with prospects to turn them into customers, a bank brochure is a useful tool to have on hand. This type of brochure should provide general information on your bank’s products and services as well as information that has been discussed in conversations with the customer and the account manager’s business card.
Brochures are a staple of bank marketing practices because they are convenient and can be used to promote just about anything. Provide your bank brochures to customers at the right times and tailor your content for each situation to improve the impact they have on your marketing goals.

About image.works

Since 1995, image.works’ innovative marketing materials have been helping financial institutions and healthcare organizations across the country build their brand and enhance their success. With products ranging from newsletters and annual reports to direct mail pieces, brochures and more, image.works consistently produces big-time results while providing all the personal attention of a small company. Experience the image.works difference today by calling 800.777.1663 or exploring www.imageworksdirect.com.

Marketing for Banks Made Simple

In the perfect world of a bank marketing director, promotional materials would magically appear in the hands of one’s most promising prospects, audiences would be endlessly enamored with each and every campaign and calls-to-action would be treated as commands rather than mere invitations. In reality, of course, things don’t always turn out this way – but bringing this “perfect world” scenario to life doesn’t have to be as difficult as you might think. Simply follow these top tricks of the trade when marketing for banks and people will think you’re a downright marketing magician!

#1: Develop a consistent brand identity. Placing your logo on every marketing piece is a given – but don’t let it stop there. Try incorporating consistent design elements throughout all your bank marketing pieces to make them even more instantly recognizable. Some people shy away from this due to concerns about becoming “locked in” to a certain look or feel, but the irony of these concerns is that locking in a consistent look is precisely what you should be doing when marketing for banks. Remember: If in doubt, embrace your brand!

#2: Reel ‘em in with enticing bait. Marketers spend an incredible amount of time and money each year trying to identify campaign components that inspire people to act. So far, though, nothing has revealed itself as a better human motivator than the simple promise of free stuff. Use this to your advantage when marketing for banks by offering consumers enticing gifts (such as Starbucks or Target gift cards) when they open a new product or service with you. As another option, you could create campaign giveaways offering customers entry into a drawing for an iPad®, $100 cash bonus, $50 gas card…you name it!

#3: Don’t underestimate the power of humor. Not a natural-born David Letterman or Jay Leno? Find difficulty turning “blah” into “ha”? This is a relatively easy problem to solve. Just take a close look at your marketing budget and consider allocating funds toward hiring a full-time comedian. Kidding!

In all seriousness, your pieces certainly don’t have to be laugh-out-loud funny to elicit the benefits of this trick. Think of it more as taking a lighthearted approach to your marketing for banks. Doing so will not only make your pieces more memorable for audiences, but also help your customers see you as a helpful “pal” or “partner” rather than as a strict, uptight, play-by-the-rules financial institution.

#4: Use appropriate marketing channels. When marketing for banks, make sure your target market not only guides the campaign’s design and copy – but also the actual products and channels you use to share your promotional information. For instance, if you’re targeting elderly individuals for a reverse mortgage campaign, online marketing probably isn’t the way to go. On the other hand, if you’re targeting youth for a student loan or kids account promotion, advertising online is arguably the best thing you can do to grab the attention of this smartphone-obsessed, computer-fixated, tablet-infatuated audience. Always be strategic when planning your campaigns!

So go ahead – use all of the above tips on your next campaign and experience marketing for banks made simple!

About image.works Since 1995, image.works’ innovative marketing materials have been helping financial institutions and healthcare organizations across the country build their brand and enhance their success. With products ranging from newsletters and annual reports to direct mail pieces, brochures and more, image.works consistently produces big-time results while providing all the personal attention of a small company. Experience the image.works difference today by calling 800.777.1663 or exploring www.imageworksdirect.com.

Five Important Things to Know About Bank Marketing

When marketing for banks, there are five important things you should know!

1) Narrow Your Audience: Avoid steering your bank marketing campaigns towards an audience that is too broad – wasting your precious marketing dollars on people who won’t even be interested in your promotion. Figure out what demographic you’re trying to reach – moms? Homeowners? College students? Certain income levels? – and tailor your message to them. Then, use a targeted mailing list to make sure your message gets right to their mailbox.

2) Stick with Your Brand: No matter what type of bank marketing you’re doing, make sure it always fits your brand. Direct mail, radio ads, signage, or even your employee dress and attitude – all of it pieces together in your customers’ minds to form an idea of what your bank means to them.
Luckily, you can do something to influence that idea – specifically, you can utilize a brand strategy that supports what you want your bank to be. In your bank marketing pieces, use consistent language and design style, and even train your employees on the language to use when talking about your bank. Consider developing a style guide to ensure your brand strategy is followed.

3) Never Underestimate the Power of “FREE”: When developing your bank marketing strategy, try to fit in as many giveaways, rewards or contests as possible. It’s no secret – people love free stuff, or even the chance to win something free. The prospect of getting free stuff or winning free prizes encourages your target audience to not only spend more time looking at your bank marketing piece, but also to respond to your call to action.

4) Hit Them from Multiple Channels: In today’s world, you have the opportunity to reach your target audience with your bank marketing message from multiple angles. So take it! Whatever bank marketing promotion you have going on, hit them with the traditional methods – direct mail, posters, TV ads – and supplement it with your social media and blog posts, web graphics, email blasts and more. Consider developing landing web pages that are devoted entirely to your promotion, and share the links that will take customers there. The more ways you can reach your audience, the more likely your message will get read.

5) Know Your Competition: Just like you want to narrow your target audience, make sure you define your competition so you are able to focus on outperforming them. It’s unrealistic and overwhelming to consider every other banking institution out there to be your competition. Determine who you’re trying to reach with each of your products and services, and research the likely companies your target audience would turn to – local banks, mortgage providers, regional “big” banks, even dealerships for auto loans. Avoid generalities when comparing yourselves to them – i.e., you’re the “small, local, friendly bank”...when in reality; there are five other “small, local, friendly banks” around the block. Instead, focus on your products and services that offer better deals for potential customers. Maybe you’ll discover a local bank that charges for checking, while you offer free checking. Maybe you’ll see that you offer lower home rates than the big mortgage lender. Narrowing your competition makes your bank marketing efforts more manageable – and successful.

About image.works Since 1995, image.works’ innovative marketing materials have been helping financial institutions and healthcare organizations across the country build their brand and enhance their success. With products ranging from newsletters and annual reports to direct mail pieces, brochures and more, image.works consistently produces big-time results while providing all the personal attention of a small company. Experience the image.works difference today by calling 800.777.1663 or exploring www.imageworksdirect.com.

Branding Strategies when Marketing for Banks

Developing a successful set of branding strategies is absolutely crucial when marketing for banks. In fact, it’s highly possible that branding strategies play a more important role in banking than in any other industry. Why? The answer is relatively simple. Although price plays an important role no matter what the product, it’s rarely the only factor a consumer considers when making purchasing decisions. In the case of computers, for instance, consumers don’t simply select the cheapest computer they can find; they also take into consideration the computer’s components and features. This gives computer producers some leeway with their marketing. If their computer is expensive, they can downplay that fact by instead focusing on the computer’s capabilities.

When it comes to something like an auto loan, however, it’s a different story entirely. Most individuals looking for an auto loan will simply choose the bank with the lowest rate and base their decision on that factor alone – giving marketers little chance to influence their decision (aside from appealing to their sense of brand loyalty). After all, if they can buy the same vehicle no matter what loan provider they choose, why not go with the cheapest option?

All this may lead you to wonder: “Why bother with branding strategies at all? Why not just give up now?” But don’t lose hope if your bank happens to have higher rates than some of its competitors. Abundant proof exists that brand loyalty can – and does – trump price for many consumers. Just look at the jewelry powerhouse, Tiffany & Co. Thanks to the company’s branding strategies, women continue to clamor after their jewelry even when other companies may be offering similar items at lower prices. Their branding strategies have, in fact, become so successful that today it almost seems as if Tiffany’s renowned blue boxes are even more sought-after than the jewelry itself.

So when it comes to marketing for banks, what can you do to develop a set of branding strategies that will successfully differentiate your institution from the competition? First and foremost, you must understand that branding strategies do not simply refer to your logo, colors or other design elements. Rather, your branding strategies should influence the entire experience a customer has when dealing with your bank and should align with your business model. Consistency is key, so make sure every single member of your bank’s staff – from the president to the tellers – has a clear understanding of your brand and how to convey those brand elements to consumers.

Secondly, don’t be afraid to bring emotions into the equation. If your bank prides itself on having a family-like atmosphere, tout that emotional benefit in your marketing – and be sure to follow through and deliver on your promise when customers visit your bank.

Finally, remember to be flexible when marketing for banks. Branding strategies that may have worked well twenty years ago might not necessarily work well today. For instance, a bank that focuses on convenience may once have promoted this fact by advertising its many branches and drive-through locations. Nowadays, banks with a branding strategy built around convenience should instead advertise services like online and mobile banking. While your brand values themselves may not change, the way you market them should.

Ultimately, by following the steps above and creating branding strategies that resonate with consumers, you’ll set yourself up for better customer retention, increased loyalty and higher profits. And you can take that to the bank!

About image.works 

Since 1995, image.works’ innovative marketing materials have been helping financial institutions and healthcare organizations across the country build their brand and enhance their success. With products ranging from newsletters and annual reports to direct mail pieces, brochures and more, image.works consistently produces big-time results while providing all the personal attention of a small company. Experience the image.works difference today by calling 800.777.1663 or exploring www.imageworksdirect.com.

Marketing for Banks through Exceptional Annual Reports

Due to regulatory requirements, banks need to produce and release a bank annual report each year, which undoubtedly entails an ample amount of time, money and stress. So why not put all your effort to extra beneficial use and treat your annual report as a practical bank marketing tool, drawing something back to your bank in return?

Customarily, bank annual reports include such content as financial details, balance sheets, and CEO’s and chairperson’s reports. But if you view your annual report as a part of your bank’s overall marketing plan, you’ll find there are ways that your content can be presented in a more useful and enlightening manner and elements can be included that can enhance the marketing impact of your bank annual report. After all, whoever reads your report will consider it a representation of your bank and will likely make assumptions about your financial institution based on what is conveyed in your report.

Boost the marketing power of your bank annual report with any of the following elements:

• Specific statements of your goals or vision. An expression of your bank’s aims or vision should be clearly stated and woven into various articles and letters throughout the report. Keep your statements positive and easy to understand so people get a clear picture of your passion and vision.

• Summaries of your bank’s successes and achievements. Marketing for banks via an annual report should include not only who you are, but also what you have done over the past year. Presenting what you’ve done and how your bank has achieved its goals portrays your bank as an ambitious, go-getting organization that successfully puts its plans into action. Additionally, if people see their money and support being used in beneficial ways, they will be more likely to continue doing so in the future.

• Overview of community involvement, charitable giving and support. People respect and appreciate when any organization gives back to the community in which they live, work and raise their families. So if your bank or employees donated money, time or services to the community, be sure to explain it in your annual report. Your generosity won’t go unnoticed!

• Case studies or customer testimonials. Case studies and testimonials that exhibit the positive results of your bank’s service are helpful in demonstrating the outcomes of your efforts, and they also show the warmer, human side of your financial institution.

• Future plans. Including an announcement of your bank’s future plans is a vital marketing tool that shows you’re a forward-looking financial institution with a vision toward future success. These initiates could be included in the CEO’s or chairperson’s report.

• Names of board and committee members, donors, sponsors, supporters, helpers, etc. These people deserve to be recognized in your bank annual report. Listing their names – or better yet, thanking them – shows that you value each and every one of them and the contributions they made. Just remember that while you want to include as many names as possible, be sure to do so in the most concise manner possible.

• Photos. People love putting faces to names so try to include pictures whenever possible. Make sure the photos you plan to use are of high quality, or consider hiring a professional photographer to take new ones.

• Contact information. Help people get in touch with your bank by including all of your contact information such as address, phone number, fax number, website and email address. These details can be presented on the back cover of your report.

Clearly, marketing for banks through informative, inspiring annual reports is a no-brainer. With a few additions and adjustments, your bank annual report can become more than a mere financial summary, transforming into a useful tool that acts as a supplement to your existing marketing materials, tells a narrative about your bank and its vision, and proves to readers that you deserve their trust and support.

About image.works Since 1995, image.works’ innovative marketing materials have been helping financial institutions and healthcare organizations across the country build their brand and enhance their success. With products ranging from newsletters and annual reports to direct mail pieces, brochures and more, image.works consistently produces big-time results while providing all the personal attention of a small company. Experience the image.works difference today by calling 800.777.1663 or exploring www.imageworksdirect.com.