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Banks have been around for centuries. But, when it comes to modernizing their marketing efforts, they often live in the past. The Financial Brand published an article titled Banks are Marketing Like It’s 1999. Their main point was that many banks make plans to modernize their marketing efforts — such as increasing use of digital channels and data analytics — but when it comes time to allocating budgets and deploying tactics, most keep to traditional and offline strategies. 

These days digital marketing isn’t just a valuable marketing tool, it’s THE marketing strategy for businesses. If your bank isn’t capitalizing on this, it could be hitting you in the pocketbook. According to the Digital Third Coast, traditional marketing generates 50% fewer interactions with customers than digital marketing. For more information about that current state of bank marketing, check out our totally rad infographic.

We understand there’s a lot to keep up with when it comes to marketing your bank online. The list of social media tasks alone seems endless. And more often than not, community bank marketing teams are a one-person shop. Nevertheless, it’s still important to work with what you have and engage both current and potential customers where they are interacting online. And that doesn’t just include marketing to millennials. Baby Boomers are engaging with banks digitally as well.

This is not to say we think traditional marketing efforts no longer deserve any budget room — offline tactics definitely still deliver results, even in today’s screen-obsessed culture. We believe in integrating offline and online efforts into a unified marketing strategy to produce highest-potential growth for your bank.

Thoma Thoma is a strategic brand development and marketing agency specializing in services that help you Live Your Brand. If you like what you’ve seen from Thoma’s work and you’d enjoy similar results in your organization, let’s connect

Author Lola Simmons

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