Posted on December 15, 2016
Getting the most out of your bank’s CD-focused online marketing campaigns usually requires segmenting your target audience using demographic factors, such as gender, geographic location, and age
Posted on December 13, 2016
2017 is almost here. Are you considering what your New Year’s resolutions should be? Some take the tradition more seriously than others, but when it comes to resolutions that involve life changing financial moves, everybody should be sincere.
Posted on December 08, 2016
According to a 2016 report from worldatlas.com, U.S. consumers spent an average of $830 each on “various Christmas-related purchases” in 2015, up 15% from the previous year. Most of the money went toward holiday celebrations and gifts, with the majority spent through retail and closely related channels.
Posted on December 06, 2016
In the U.S., “Merry Christmas” and “happy holidays” are the two seasonal greetings we hear most in the month of December — and they both mean the same thing, right? For some people, the answer is yes; the greetings are synonymous. But for others — particularly those who attach religious and cultural meaning to December 25th and those who don’t — using one statement instead of the other can mean a great d
Posted on November 29, 2016
In recent years, the practice of group profiling has received a bad name among proponents of social justice. But it’s actually a certain type of profiling — and not profiling itself — that they detest, the type that subsists on stereotypes, and thus takes characteristics (usually negative ones) that some people in a group possess and unfairly applies the traits to the whole group. This isn’t the type of group profiling professional marketers use. Philosophically speaking, whereas stereotype-based profiling takes a flawed a priori approach, proposing that certain characteristics exist throughout a group, and then trying to support the point using microcosmic, prejudicial reasoning, marketing-based profiling takes a scientific a posteriori approach, first examining a group, and then determining what characteristics are present.
Posted on November 22, 2016
The design of paper money has become increasingly complex to thwart counterfeiting. Look at some of latest editions of U.S. currency, and you’ll see things like holographic images, monotone offset images that look like they were made by a thermal printer, embedded metallic leaf, and a dizzying array of proprietary fonts that would make a snooty typographer smile. These features and others combine to make you feel secure that the $20 bills you get from an ATM won’t show a black streak if a cashier marks them with counterfeit money detector pen. So, you probably feel secure about the legitimacy of the money in your wallet, but do you feel the same about your digital mobile payment options? If you’re a member of the millennial generation, there’s a good chance the answer is no.
Posted on November 16, 2016
In the spirit of spending money to make money, many banks offer consumers financial incentives to open checking and savings accounts. For example, you often find retail banks offering between $50 and $100 just for opening a savings account. Because the point of opening the account is to save money, the incentive easily works its magic. However, there’s another type of monetary incentive that can motivate people to open bank accounts, too: giving money to charity each time an account is opened and/or a certain type of account activity occurs.
Posted on November 15, 2016
As your bank considers products and services to promote through its next online marketing campaign that’s aimed at millennials, put certificates of deposit (CDs) high on the list of options. CDs are some of the oldest products banks have to offer, but there’s a reason why they’re still around: They continue to be one of the most secure products for growing wealth. With this in mind, we look at four types of CDs that are ideal for helping millennials grow their burgeoning nest eggs and increase your institution’s holdings simultaneously.
Posted on November 09, 2016
If you consult with a marketing agency about how to drive sales for your product or service, you’re likely to hear the term “unique value propositions” (UVPs) early in the conversation. This is because UVPs tell prospective customers and/or clients what makes the product or service uniquely valuable compared to other offerings in the same market space.
Posted on November 08, 2016
Between mid spring and late summer is widely considered the best time of year to sell residential real estate, especially in places where winter brings freezing temperatures. According to Barry Ritholtz, Chief Market Strategist for Ritholtz Research, there are three reasons why: school is in session for children, the weather is chilly, and the winter holiday season is in swing.
Posted on November 03, 2016
In terms of technological innovation, the banking industry has gradually moved away from doing business inside bank branches. First, it was the drive-up teller window, then the ATM, and now it’s mobile banking. Today, you can even be approved for major loans by applying online. This was unthinkable as few as 20 years ago, before the banking industry became largely digitized.
Posted on October 31, 2016
Throughout 2016, speculation that the Federal Reserve System will raise interest rates has steadily increased. Financial experts think the raise will be in the range of 0.50% to 0.75%, meaning the current target interest rate would climb at least 0.25%. The increase is expected to happen as soon as December 2016 and as late as spring 2017.
Posted on October 27, 2016
Have you ever watched a movie that seemed too long for the storyline? Have you ever seen a film that ended too abruptly and left questions about the plot unanswered? The same things can happen when people watch web videos that are used for online marketing campaigns.
Posted on October 24, 2016
Much has been written about why people switch from banks to credit unions. But the opposite scenario — consumers choosing banks over credit unions — gets less attention. This is why we’re taking time to list potential drawbacks of joining a credit union compared to joining a bank. Both banks and credit unions can use the information to market unique value propositions (UVPs).
Posted on October 20, 2016
Retail banks desire a permanent relationship with customers. Once people are in the fold and start using bank resources, banks want it to stay that way. After all, the number of customers an institution has can impact its lending power. The more wealth a bank has in its coffers, the more loans it can originate. In turn, the more interest it can earn from loans. There’s also the steady stream of income that account fees generate.
Posted on October 17, 2016
Before most people had internet access, they received much of their information and screen-based entertainment from watching television. Consequently, it made perfect sense to put TV at the top of the advertising pyramid. If you could afford even a small slice of time for a commercial in prime time, multiple millions of people could learn about your products and services within a few seconds. This still happens, but not on the scale that it did before the internet was available.
Posted on October 11, 2016
The Victorian writer Oscar Wilde said, “The tragedy of old age is not that one is old, but that one is young.” People who have reached middle age and beyond can understand what he means: The body ages, but the personality often maintains a sense of vigor and vitality that the aging body simply can’t match.
Posted on October 11, 2016
Search engine optimization (SEO) is an essential discipline for any company or organization that hopes to engage people online, either through offering products and services, or through offering the opportunity to gain more information by leaving contact information.
Posted on October 06, 2016
To succeed at marketing, we need to understand what motivates people to act, such as what makes them buy a product or leave contact information when they visit a business website. But acquiring this understanding involves understanding something else: human psychology.
Posted on October 03, 2016
Marketing and psychology go hand in hand. As marketers, unless we understand what motivates people to make purchases and other types of personal decisions, we don’t have much to offer businesses to help them achieve business goals. Thankfully, psychologists have carried out helpful studies that assist us with pointing companies in the right direction.
Posted on September 29, 2016
Psychologist Abraham Maslow (April 1, 1908 – June 8, 1970) was man who wanted to know what motivates us at the innermost level. After years of research at several universities, the now famous author recorded his findings in two ways: By writing his classic work of psychology, Motivation and Personality, and by creating an infographic pyramid called “Maslow’s Hierarchy of Needs”, which prioritizes the five motivators that most influence our decisions.
Posted on September 27, 2016
Famous American psychologist Abraham Maslow (April 1, 1908 – June 8, 1970) spent several years at notable universities, researching what motivates people to act. His findings — referred to as Maslow’s Hierarchy of Needs — can be found in his seminal book, Motivation and Personality. However, people are most familiar with the graphical pyramid he used to express the five archetypal motivators we experience, and the order in which we pursue them:
Posted on September 21, 2016
Renowned American psychologist Abraham Maslow (April 1, 1908 – June 8, 1970) spent much of his life researching what motivates people to act. In addition to writing about his findings in his groundbreaking book, Motivation and Personality, he also communicated them using a simple infographic: A five-tier pyramid that features a different motivator for each tier.
Posted on September 18, 2016
In its infancy, mobile banking was more of a consumer banking option than a marketing opportunity for banks. You could use a cell phone to call a bank and make transactions over the phone, but the first cell phones didn’t have internet capability, nor did banks do most of their business online. In those days, ATMs and teller counters sucked up most of the business.
Posted on September 15, 2016
Since Facebook became the social media giant it is today, many small businesses have considered using a Facebook page as their primary business website. As of mid 2015, Facebook had 40 million active small business pages, certainly not all of which were the business' sole online presence, but very likely many small entrepreneurs are utilizing Facebook as their sole online communications channel.
Posted on September 13, 2016
When we talk about mobile marketing in terms of the computer devices the discipline encompasses, smartphones and smart tablets enter the discussion fast. But there’s a device we seldom mention in conversations about mobile, even though it can be ported almost as easily as a smart tablet: The trusty laptop — a type of computer which, for many, has replaced traditional desktops.
Posted on September 08, 2016
Age is one of the most important criteria for segmenting the target audience of a bank. People’s financial wants and needs change over time. A 90-year-old may want investments that offer liquidity to help simplify the distribution of her estate. A 29-year-old may want the same investments, but to liquidate them quickly to use on her honeymoon, scheduled a year away.
Posted on September 06, 2016
As banks look to secure their future customer base, they naturally focus on millennials, who comprise the largest generational segment in the U.S. Researchers set different age ranges for millennials, but members of the generation are generally said to have birth dates within a 20-year span, from about 1982 to 2002.
Posted on August 31, 2016
Based on consumer spending habits, there are some purchases people like to make in particular seasons — and they aren’t always the seasons we expect. When the investments cost several thousands of dollars, they’re often made with the help of a bank loan. With fall just around the corner, we present 3 major purchases people like to make in autumn. Your financial institution can use these purchasing trends to help inform its seasonal lending campaigns.
Posted on August 23, 2016
The Internet is filled with opportunities to download free, open-source business software. From bug tracking programs for software development to project management software for sharing real-time information between project participants, there seems to be a free program for addressing almost every major business function that a software-based solution can. Here, we look at some of the major pros and cons of using open source email marketing software.
Posted on August 17, 2016
Every marketing campaign has a target audience. Because the audience is rarely demographically and psychographically homogenous, the marketer must segment the group to ensure that the right messages are sent to the right audience members. Many companies that don’t have in-house resources for target audience segmentation wisely use the services of an online marketing agency that specializes in the discipline. However, by the time they sit down with an agency for a free consultation, they have often applied some of their sales experience to the segmentation effort.
Posted on August 15, 2016
Most companies that have spent much time consulting with online marketing professionals have probably heard the word “demographics” more than once. They may have heard the term “psychographics”, too, but many people are less familiar with the term than they are with demographics. Before we dig into the meaning of psychographics, and explain its importance to marketing, let’s define both terms for the sake of clarity.
Posted on August 10, 2016
Digital technologies that power online marketing campaigns have been prolifically outsourced since the beginning of the new millennium. During the intervening years, marketing technology has changed so quickly — and become increasingly prohibitive to those who receive it from a third party — that continuing to outsource the digital side of marketing campaigns has only made sense. Third party expertise is essentially a necessity.
Posted on August 09, 2016
Custom website development for business websites frequently entails creating a blog page, where the company posts blog entries about their products and services, industry news, and topics that pertin to both. You can even use the blog to communicate company information and time-sensitive promotions that you hope will stimulate a flurry of seasonal business. However, despite the many possibilities that company blogs offer for presenting information, some companies remain wary about implementing them. Responsible for some of the indecisiveness are myths about company blogs that simply aren’t true, such as the four listed below. Ignoring these falsities will help you make a more educated decision about implementing a company blog on your website.
Posted on August 04, 2016
A recent finding by the U.S. Census shows that millennials are the “poorest” living generational segment, with a salary range of roughly $28,000 - $34,000. Add to this statistic the fact that millennials save 15 percent of their income, and it’s easy to see why the generation frequently chooses to purchase with plastic instead of using cash or a check, as their baby boomer parents often do: Without credit cards, millennials’ purchasing power would take a significant hit.
Posted on August 02, 2016
Of the four major credit card networks in the U.S. — Visa, Mastercard, American Express, and Discover — Mastercard has long played second fiddle to VISA. While there’s nothing shabby about Mastercard earning hundreds of billions of dollars annually, VISA revenue has been in the trillions since 2013, largely because VISA issues the most credit cards among the four major networks.
Posted on July 28, 2016
Financial technology companies — “fintechs” for short — specialize in digital, financial technologies that have a finger on the pulse of the latest trends in digitized commerce and fledgling, digital financial practices that are poised for expansion. Fintechs aren’t financial institutions, but, in a banking world where digitized processes affect the customer service experience like never before, their specialization is highly attractive to organizations that are.
Posted on July 26, 2016
The success of an email campaign is largely defined by the clickthrough rate it generates, which explains why so much emphasis is placed on creating catchy, informative subject lines that sound organic and not spammy. But what happens after email recipients catch the subject line and start reading the email?
Posted on July 21, 2016
The year was 2010, and the retail clothing industry was about to enter one of the busiest times of the year, the Christmas season, when, quite unexpectedly, one of the biggest clothing retailers, the GAP, decided to alter its logo in a rebranding effort it hoped would stimulate sales at a time when revenue wasn’t being raked in like usual. But, as history shows, the logo redesign was so lackluster that it ended up reversing the company’s fortunes even further.
Posted on July 19, 2016
A recent report from The Oregonian mentions an interesting fact about wealth distribution among generation X (1981–1997). After accounting for inflation, each member of the generation earns $12,000 more annually than his or her parents did at the same age. And, over the next few years, the oldest of generation X will become a lot wealthier, as they inherit estates that their parents — most of whom are baby boomers (1946–1964) — built over several decades.
Posted on July 14, 2016
Conducting successful, business-to-business (B2B) email campaigns requires sending the right marketing messages, to the right parties, at the right time, using the right communication channels. In this blog, we focus on the third element of the equation: sending emails at the right time. The time of day when B2B marketing emails are sent can have a significant impact on the open rate for the email campaign and, by extension, the business opportunities of the sender.
Posted on July 12, 2016
Most web content that’s used for online marketing has a relatively short lifespan. When content is posted at locations on the internet other than the client’s website (in an article directory, for example), it generally receives a date of publication like a press article would, so readers can consider the validity of the content based on its age.
Posted on July 07, 2016
In the discipline of marketing, we often dig deep into the offerings of a client to discover unique value propositions (UVPs) that can be used to promote the organization’s products and services to its target audience. But there are also times when serendipity seems to smile on the marketing effort, and we find at least some of what we’re looking for without performing in-depth research.
Posted on July 04, 2016
Not every millennial is interested in buying a home. The youngest members of the generation, who are in their late teens, are more concerned about college housing than finding a place to call their own. At the opposite end of the spectrum, many of the oldest millennials, who are in their late 30s, have already found real estate where they can comfortably put down roots.
Posted on June 30, 2016
Everyone makes mistakes, as the old saying goes. But when it comes to the fallout making them, there’s a big difference between now and when and the saying was coined. Back then, press surrounding mistakes that were newsworthy often peaked and perished quickly. Today, on the other hand, much press surrounding a newsworthy mistake is published on the internet, where it can live forever, and haunt the party that made the mishap.
Posted on June 27, 2016
Remember the days when you drove to the nearest branch of your bank just to deposit a paper check? The practice still exists today and has been made more efficient through the option to make deposits at ATMs instead of pulling up to the teller window and waiting for service. Today, though, remote deposit capture (RDC) technology, or what is frequently referred to as mobile bank deposits goes beyond ATMs and focuses on smartphones. You can now deposit a check without having to visit a bank.
Posted on June 23, 2016
Most companies that use email campaigns for customer retention and growth spend a fair amount of time crafting the campaigns, but there are some easy to overlook problems that can make the open rate for the emails dismal based on expectations at the outset. In this blog, we take a look at four major issues that companies should consider before rolling out future email campaigns.
Posted on June 17, 2016
According to a recent report from Invodo about how web video impacts on online purchasing decisions, “52 percent of consumers say that watching product videos makes them more confident in online purchase decisions.” But the impact of web video can affect more than customer acquisition; it can promote client acquisition, as well. According to a recent report from Forbes, “59 percent of executives would rather watch video than read text [on a website].”
Posted on June 14, 2016
Because it helps distinguish an organization's web presence from a sea of competitors, custom website development is a valuable service for companies and organizations that conduct business online. It’s also a service that most online business entities need performed more than once over the course of a decade, especially to stay current with new search engine website indexing practices and emerging aesthetic trends that redefine good website design.
Posted on June 09, 2016
For many search users, video content is the most preferred type of web content for three reasons. First, there’s no need to scroll down the page to follow an information trail; all you do is press play, sit back, and absorb the content. Second, unlike much written content, video content is visually stimulating, which makes it more engaging. Third, the compact nature of the video script makes watching the video less time consuming than reading explicative, written content.
Posted on June 07, 2016
If you’re a business-to-business (B2B) supplier of products and/or services, here’s an important question to consider: Is your online marketing content sabotaging sales conversions? Whether you operate as both a manufacturer and a distributor or only as a vendor, it’s a question to ponder for the sake of getting the most from your marketing efforts and growing the bottom line, quarter over quarter, year over year.
Posted on June 01, 2016
Banks that spend much time strategizing ways to attract customers from the millennial generation (1982 - 2004) through offline and online marketing campaigns know that there are several obstacles that can stand in the way of achieving the goal.
Posted on May 30, 2016
For companies that sell something online, having an attractive, easy to navigate website is just as important as having an attractive, easy to navigate building is for companies that sell something in-store. Companies that see the light at the end of the online business tunnel know this, and they’re are willing to make a significant investment in custom website development. At the same, however, these companies naturally look for ways to reduce the cost of website development to bolster the bottom line. Below are four simple ways that companies can mitigate the cost of website development without compromising the quality of their new website.
Posted on May 25, 2016
Almost every company that sells a product or service is “customer-centric” to some degree, which means that it pays attention to the wants and needs of prospective customers when selling a product or a service. However, how much gravity a target audience’s characteristics impart to email campaigns — and other types of online marketing efforts, for that matter — depends largely on the campaigner’s approach to understanding the target audience.
Posted on May 17, 2016
Banks that plan for the future know how important the millennial generation (1982-2004) is to revenue goals. The generation currently stands 75.4 million members strong, but pleasing all of those people has proven daunting for banks, as millennials haven’t been shy about expressing antipathy for account fees, what they see as poor customer service, and a lack of the latest mobile banking options.
Posted on May 09, 2016
When they use written web content to pursue online marketing goals, many businesses focus primarily on crafting the content found on their websites’ landing pages. However, before search users are exposed to that content, they encounter two other types of content that appear in the search listing: title tags and the meta descriptions that immediately follow them. Below are three tips for creating title tags and meta descriptions that encourage a high click-through rate (CTR).
Posted on May 09, 2016
Whether they take the form of email campaigns, pay-per-click (PPC) campaigns, social media campaigns, or other types of digital marketing campaigns, online marketing efforts require four steps that are absolutely essential for generating the desired result: (1) delivering the right marketing messages, (2) to the right audience segments, (3) at the right time, (4) using the right communication channels. Below, we explain the importance of each step.
Posted on May 05, 2016
“Content is king” is a well-known statement in the online marketing business. Parroted for years by providers of optimized, written content for business websites, the saying is still apropos concerning the essential role that great, written content plays in the online business goals of a bank.
Posted on May 02, 2016
Statistics that quantify how members of the millennial generation feel about being members of retail banks include some odd, yet poignant observations, one of the most eccentric of which is a recent statistic from Scratch — an in-house division of Viacom that offers brand consultation: “73% [of millennials] would be more excited about a new offering in financial services from Google than from their own nationwide bank”.
Posted on January 01, 0001
As marketing professionals who help companies and organizations succeed offline and online marketing campaigns, we spend a fair amount of time emphasizing the importance of breaking down a target audience into segments that reflect the diversity of the audience and its needs. Sometimes, the characteristics are searched for with fine tooth comb, as it were, but not always. In fact, some of the most important segmentations for the millennial generation (1982-2004) aren’t hidden behind complex, demographical data sets; they are out in the open for banks to see, and they apply directly to changes of life millennials experience as they age. To prove the point, consider the following life events that your bank could use to segment millennials for an online marketing campaign.
Posted on April 28, 2016
For financial institutions, using online marketing resources to generate new business and retain existing customers has become both easier and more complex. Marketing communication channels and resources that help you take advantage of the channels have increased, but leveraging the channels and resources for maximum success inevitably involves a learning curve.
Posted on April 26, 2016
When companies build a physical location, they take all of the necessary measures to make the property look great and function well from within. The same principle applies to building a company website. The website needs all of the features necessary to attract prospective customers and earn it a high search engine results position (SERP) in major search engines.
Posted on April 21, 2016
Most banks and credit unions may operate on different business models, but they nonetheless offer many of the same financial products and services. Why would someone choose a credit union over a bank? When it comes to members of the millennial generation, there are at least five reasons. Banks can use this information to help refine their offerings to attract more millennials, and then communicate the offerings in offline and online marketing campaigns.
Posted on April 19, 2016
When we think of financial institutions that serve consumers, banks and credit unions are often lumped in the same category because they offer the same basic services. However, beyond the basic similarities between credit unions and banks, several meaningful differences separate the two, especially for millennials. If you hold a key management role at a credit union, below are four distinctive characteristics of your institution that your credit union can use to effectively market offerings to millennials.
Posted on April 14, 2016
As offline and online marketing specialists, we often stress the importance of delivering the right marketing messages, to the right audience segments, at the right time, using the right communication channels. At the most basic level, these are the keys for performing successful marketing campaigns that positively engage customers and quality leads.
Posted on April 11, 2016
To say that banks operate in a data-driven industry is a statement of duality. On one side of the equation is data banks use to perform internal operations. On the other side is data they use to serve customers. In agile marketing, these data sets aren’t mutually exclusive. Instead, parties that gather the data align to create a comprehensive body of information that can quickly improve the customer service approach and thus help to reduce customer attrition.
Posted on April 07, 2016
At a time when practically everyone seems to go online to search for products, services, and information, a bank’s website can be just as valuable as its branch location. In fact, depending on the internet usage characteristics of its customer base, the case could be made that a bank’s website is more valuable than its physical real estate. With that in mind, let’s take a look at four important tips for selecting a website developer for your bank’s new website.
Posted on April 04, 2016
Millennials were born between 1982 and 2000, although some researchers list the birth range more generously, saying it spans from the early 1980s to the early 2000s. Regardless of where you place the birthdates, millennials are a single generation, but they are far from clones of each other when it comes to financial goals and how the goals shape their bank preferences.
Posted on March 29, 2016
Banks that have spent much time trying to attract and retain millennials as customers know how challenging these goals can be. According to statistics from various sources, many millennials simply don’t like the bank experience, and some sources have resorted to asking millennials unusual questions whose answers reveal the general sense of antipathy that the generation feels about retail banks. In addition to being eclectic and entertaining, the answers to these questions show just how far banks must go to change how millennials perceive them.
Posted on March 24, 2016
According to a late 2015 report from Accenture referenced online in Time magazine, “Millennials are much more willing to switch banks than other age groups. Over the past 12 months, large banks lost around 16% of their millennial customers. At the same time, local banks gained 5% more millennials, and credit unions picked up 3%.” So, it appears that small banks enjoy a definite edge over large banks when it comes to attracting millennials.
Posted on March 22, 2016
Millennials are tech savvy individuals who are widely known to prefer digital communications -- particularly communications via smartphone -- over more inefficient methods of communication from the past, such as TV and radio. Millennials can’t watch TV or listen to the radio all the time, but they almost always have their cell phone with them, using it to receive emails, texts, photographs, weather alerts, personal health reports, and the list goes on.
Posted on March 16, 2016
Direct mail helps companies capitalize on quality leads by reaching out to them in a direct way, featuring prominently printed marketing messages and business incentives that catch the attention of recipients and motivate them to become customers. It’s a relatively simple marketing strategy, but it’s highly affordable and works quite well when incorporated into an overall offline and online marketing strategy.
Posted on March 09, 2016
According to a 2015 report from The New York Times, members of the millennial generation who live in the U.S. number about 75 million. Now, consider that a 2015 study from American Press Institute found that “88% of Millennials get news from Facebook”. That makes Facebook’s server environment of the largest repositories of social media information about millennials. In fact, Facebook can even yield valuable information about millennials’ bank preferences.
Posted on March 08, 2016
It’s been said countless times that the best way to know a person is to walk in his or her shoes, so to speak. When it comes to marketing for banks, the observation can expand to include entire customer segments, such as the millennial generation. This is what Vice President of Client Relationships for Resurgent Performance, Natalie Brooke, recently did in a 2016 article for American Banker.
Posted on March 02, 2016
Business websites are like brick and mortar business locations: They eventually need to be rebuilt to offer the best functionality. The difference is that it’s fairly easy to see when a building should be reconstructed, but some of the reasons why websites should be rebuilt are hidden in the sites’ archaic design and result in companies being surprised when they consult with a provider of custom website development and hear that they need to build a new website.
Posted on March 01, 2016
Since the beginning of the new millennium, many retail bank customers have had a love-hate relationship with big banks — a relationship that seemed to swing more toward the “hate” side when media reports implicated large financial institutions in the housing market bust that marked the latest, major recession. As you probably remember, lots of big banks gave out lots of big loans to people who couldn’t afford them and lost their homes to foreclosure as a result.
Posted on February 25, 2016
If you can’t imagine what your financial life would be like without the services of a bank, you probably aren’t a member of the Millennial generation. According to a recent, three-year study from Viacom’s Scratch, 33 percent of Millennials believe that they “won’t need a bank at all” within the next five years. The statistic is informed by additional statistics that come from the same study: 68 percent of Millennials believe that “the way we access our money will be totally different” in five years, and 70 percent believe that “the way we pay for things will be totally different” within the same time period. In one form or another, banks have been around for millennia. So, why do Millennials think banks will become obsolete in such a short period of time? Let’s take a look.
Posted on February 23, 2016
The history of direct mail can be traced to 1,000 B.C. According to historians, the first known example of direct mail occurred when an Egyptian landowner used a piece of papyrus to advertise that one of his slaves had escaped, and then distributed the communication to his peers, hoping they could assist with the return of the runaway servant. A piece of papyrus that contained the message was excavated from Thebes and is on display at the British Museum. The history of email is a bit more recent; it has only been in use for about 20 years. Despite its relative newness, email shares some important similarities with direct mail, but the two types of communication also have some important differences. Below, we look at how email campaigns compare to direct mail campaigns using four criteria that every company is concerned about when it rolls out a marketing campaign to bolster its business interests.
Posted on February 18, 2016
If your bank is having trouble attracting and retaining Millennials as customers, it may have nothing to do with the products and services your institution offers or its customer service. Rather, it may result from the simple fact that you are a bank. According to recently concluded three-year study from Viacom’s Scratch that polled over 10,000 Millennials to “find out which industry was most prime for disruption”, “banks make up four of [Millennials] top 10 most hated brands, [and] Millennials increasingly view these financial institutions as irrelevant.”
Posted on February 15, 2016
Usually found on the homepage of a website, an image carousel is a web design element in which images that often contain marketing messages rotate sequentially in a repeating loop. Because an image carousel is typically the only part of a homepage that moves without prompting from site visitors, it inherently calls attention to images and messages in the loop. This makes the the scrolling banner an excellent spot for banks to promote products and services to prospective customers.
Posted on February 11, 2016
Website development is one of the most commonly used third party IT services in the world. When they need to upgrade their website for the sake of performance or presentation, companies that don’t have an exceptionally strong IT presence in house — which is most companies — turn to businesses that provide comprehensive website development services.
Posted on February 09, 2016
Despite their large population, Millennials have proven difficult for many banks to attract in great number and have proven even harder to retain as customers. According to a 2015 report from Accenture, Millennials switch banks “at a pace nearly double the average of other age groups,” with opening a new checking account being one of the main reasons for the changeover.
Posted on February 03, 2016
According to Accenture’s 2015 annual banking survey, “Millennials are more likely than others to change their primary banks, switching ‘at a pace nearly double the average of other age groups,’ with 18 percent over a 12-month period ending Jan. 26 finding a new financial provider.”
Posted on February 02, 2016
Any bank that offers products and services to consumers must appeal to Millennials if it hopes to experience impressive, sustainable revenue growth over the next 50 years. According to a November 2015 report from BloombergBusiness, successfully appealing to Millennials is easier for local banks that have a small number of branches than it is for large, regional or national banks that seem to have more branches than a forest. Let’s explore the main reasons why.
Posted on January 28, 2016
As 2016 rolls in, many startups will deploy their first website – and search engine optimization (SEO) will play a key role in the deployment. SEO is such a popular online marketing service that even new businesses have a basic idea of how it works: targeted search terms (a.k.a. keywords) are placed in a website to make it appear high in search results after the terms are entered in a search engine’s search field and the search button is clicked.
Posted on January 25, 2016
Also known as the five W’s and one H, the Six W’s (who, what, when, where, why and how comprise a simple, multi question investigative strategy that many of us learned in grade school, but its application can stem far beyond the classroom. In fact, you can use the six W’s to evaluate the structure of the content for your marketing emails. Let’s put the strategy into practice to show what we mean.
Posted on January 21, 2016
If your business sells products or services that are available through its business website, the site is likely to be the first place that prospective customers and clients visit to assess whether they need what is sold. Consequently, the written content on the site should be composed in a way that draws visitors in instead of moving them to abandon the website.
Posted on January 19, 2016
In one respect, business websites are similar to the software and hardware that support them: They eventually become obsolete, and some of them aren’t so great to begin with. However, it often takes companies awhile to realize that the obsoleteness or poor design of their website is the reason why it doesn’t perform as well as expected.
Posted on January 14, 2016
If your company has ever been besieged by an onslaught of marketing emails that it didn’t wish to receive, you can surely appreciate the significance of the CAN-SPAM Act of 2003. The measure was passed largely to prevent companies and individuals from being “spammed” with emails that are mentally and physically frustrating to deal with, as the recipient deletes them one by one from his or her crowded inbox when the spam filter doesn’t catch the communications like it should.
Posted on January 12, 2016
The emergence of mobile technology in the banking sector has created a new type of customer, one who likes to perform financial transactions using smartphones, smart tablets, and even smart watches. However, despite the fact that bank customers pursue mobile banking opportunities like never before, a recent study from Market Force Information reveals that many consumers still find value in visiting branch locations to receive services and information.
Posted on January 07, 2016
The primary goals of most B2B email campaigns is to develop quality leads, and then nurture the leads until they become customers. However, as well-executed as an email campaign may be, it is highly unlikely that all of the leads it generates will become customers. This begs the question: When should I stop nurturing a lead? That’s the question we answer in this entry, providing five crucial indicators that a lead is no longer worth pursuing at the present time.
Posted on January 04, 2016
Email marketing was one of the first forms of online marketing that companies used ubiquitously after the internet became a major hub for sales and marketing. Unlike early online marketing strategies that have come and gone, email marketing remains a sharp arrow in the quiver that holds companies’ internet marketing strategies. There are at least two reasons why: Email marketing services tend to deliver an excellent cost-to-benefit ratio, and email is a perfect channel for reaching a broad spectrum of prospective clients in a relatively short period of time.