BANK AND CREDIT UNION MARKETING

Master the Plan, Master Your Marketing

Just like that, the holidays are nearing, Q4 is in full swing, and soon you’ll be tasked with answering some big questions about the year ahead. Undoubtedly, you’ll be faced with some questions about future marketing goals and plans. Before the panic sets in and objectives, strategies and tactics haunt you at night, take a step back. Ask yourself some questions and reflect on 2019. How did your marketing plan perform? Did your organization follow through on most ideas? Were your goals reasonable and attainable?

If you think some improvements could be made for 2020, consider taking a new approach to not only what’s inside your marketing plan, but also the type of plan you’re creating. Read on to learn more about different types of marketing plans and how each one can help your financial institution reach its goals.

Product or Service Launch Plan

Does your institution plan on introducing someone or something new in 2020? From rolling out a new digital banking app to adding a representative to your lending team, this type of marketing plan lets your audience know that something new is on the horizon, as well as educates them about the features and benefits. This type of plan should be completed at least six months prior to the product or service launch.

Niche Marketing Plan

Maybe you’ve noticed that Millennials aren’t utilizing your investment services as much as they could be, or perhaps you want to make residents in a certain geographic area aware of all-time low mortgage rates. With a niche marketing plan, you can develop tactics that will speak directly to your target audience. By zeroing in on one group of people, you can explore focused messaging strategies and utilize channels used most by that specific demographic. It’s recommended to develop niche marketing plans annually.

Digital Marketing Plan

Although it may not be the most trustworthy channel, a lot of us turn to the internet to get answers to our financial questions. It’s important for organizations in almost every industry to develop a comprehensive digital marketing plan, but especially vital for financial institutions to have a presence across mobile and social platforms. From strategically climbing SEO ranks to maintaining a blog with tips on saving, digital marketing gives your organization the opportunity to develop relationships, build trust and deliver reliable information. It’s a good idea to develop this plan annually and review it monthly or quarterly.

No matter your 2020 goals, set your financial institution up for success by giving a new, more focused marketing plan (or plans!) a try. If you’re looking for an experienced partner to assist in developing your plan, contact us today!

Sources: https://www.bolgerinc.com/fall-2018/

Posted by Audrey Meis - October 23, 2019