July 16, 2018

Planning Strategic Marketing As You Go

Last week we hung a new poster on our office wall. No matter how much I like it, this is relevant now only because of what it says: “We have a strategic plan. It’s called doing things.”

If marketing is nothing more than a gigantic chicken and egg problem, this quote from Herb Kelleher (former CEO of Southwest Airlines) solves the chicken side. Don’t stop. Just live. Go forward and adjust on the way.

January 2, 2018

Utilizing Your Strongest Asset

The world of banking is tried and true. It’s been around since the 18th century, and quite frankly hasn’t changed a lot – money is deposited and loaned out. As a result, one bank starts to look identical to the next. As competition from national banks and credit unions heat up, the only way to stay afloat is keeping your bank from getting lost in the battle of the banks.

August 21, 2017

How Effective is your 2018 Marketing Plan?

How Effective is your 2018 Marketing Plan?

As fall inevitably draws closer there are a few things that can be counted on. The leaves will turn, the days get shorter, and budget planning season will be here. While many departments may be able to refine a previous year’s budget for the coming year, marketing is an area where a fresh look is due consistently. A clean slate and a new perspective of your customers will give you advantages and insights that you may not have seen in previous years.

June 22, 2017

Motivating Millennials

Motivating Millennials

Millennials are now the largest population segment ever in U.S. history. (FICO, 2014) Even though half of millennials claim a national bank as their primary bank, they are also willing to open an account somewhere else—giving your community bank a great opportunity. (Accenture, 2015) Investing in customer loyalty with millennials creates multiple wins; 56% of surveyed millennials have recommended their bank in the past. (FICO, 2014) Not only can millennials develop into loyal customers, they are more likely to promote their bank and services compared to other groups.

April 6, 2017

Grow Your Bank without Growing Your Customer Base

Are you Maximizing Your Current Customer Accounts?

Increased competition and new banking methods make customer acquisition harder than ever. Instead of struggling to acquire a new customer, try switching your focus from acquisition to expansion through cross-selling. Expanding the number of products and services that your current customers utilize allows you to increase deposits or revenue without incurring the costs needed to convince a new customer to switch banks. Cross-selling and customer retention is critical in getting ahead of the competition.

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