Wondering where to get started with bank marketing? This is the post for you!
A recent study found that financial institutions like banks want to focus on a few major goals for their marketing:
- Expanding and growing into new markets
- New customer acquisition
- Attracting a younger audience
In this blog post, we’ll walk you through the digital marketing strategies that will help your bank reach these goals, streamline your digital presence and make it easy for new customers to find your bank online.
How to Expand Your Bank’s Reach to New Markets
The best way to reach new markets is through a cross-platform paid advertising strategy. This means creating and running ads across social media, search engines and other websites.
Having a cross-platform advertising strategy for your bank will put you in front of customers while they are researching and choosing a new local bank, keeping you fresh in their minds as they make their decision.
And, if your bank is running any specials or if you want to promote one specific product, ads can do this by hyper-targeting both the keywords for that product and your target market. It’s a win-win!
But, advertising is extremely complicated. It’s best if you talk to a paid advertising expert to learn the best advertising strategy for your bank.
How to Reach Your Bank’s Customer Acquisition Goals With Digital Marketing
To win new customers for your bank, you’ll want to make sure you have a spotless online presence. Here’s why:
A recent study showed that there are five top activities local consumers complete when they are looking for a business. They are:
- Use a digital map
- Use a search engine
- Visit business’s website
- Visit competitor’s website
- Visit location
So, in order to entice customers to use your bank during this process, you’ll need to make sure you look good online. It’s time to look at your local search marketing strategy.
Here are a few local SEO tips for your bank:
- Claim or create your Google listing
- Optimize the listing by adding photos, correct address, phone number and hours
- Make sure your website contains your location information, hours and phone number
- Be sure your site is mobile-optimized so it doesn’t turn potential customers away
- Manage your online reputation so that consumers see that your bank is easy to work with
- Don’t forget that you’ll need to manage a listing for each branch of your bank
How to Attract a Younger Audience to Your Bank
Generation Z is coming of age, which means they’ll be needing their own bank accounts, loans, etc.
Remember, there are rules when it comes to marketing to children, but for those members of Gen Z who are adults, you’ll need a specific, personalized marketing strategy. Here’s what you need to know:
Generation Z craves authenticity, has a short attention span and wants to know what you stand for.
These are our best tips for marketing to Generation Z:
- Create quick, effective content that catches their attention. You only have 8 seconds to grab Gen Z’s attention, so short social media posts and videos should do the trick.
- Try Instagram, Snapchat and Facebook Stories. Ephemeral content will create a sense of urgency because it disappears quickly and your Gen Z audience will know that they need to act quickly.
- Tell them all about your values. Since Generation Z craves authenticity and wants to know what you stand for, be transparent with them. They want a business they can look up to, so tell them why you care about your bank’s local community or the causes you support.