Grow Your Financial Institution with These Marketing Tips

Colleen Quinn

Colleen Quinn About The Author

Jan 25, 2021 10:00:00 AM

Grow Your Financial Institution with These Marketing Tips

Financial institutions often face a great deal of demand and a high level of competition. The average adult holds on to the same checking account for around 16 years, and at least a quarter of Americans have had the same checking account for more than 20 years. When they decide to change, Americans may need to decide about a new bank in a hurry. Having assistance with your ads and marketing can help your financial institution grow, keeping it top-of-mind for interested consumers so that when they do need to make a change, you're the one that comes to mind. 

1. Optimize Your Website

websiteWebsite optimization is critical for bringing traffic to your financial institution and showing consumers what you have to offer. The average consumer needs to know that you will provide them with a high-quality experience. That means a website optimized for mobile and search: one that consumers can find easily, interact with, and use for all of their financial needs. If they have trouble using your website or cannot see you in the first place, they're likely to move on to a competitor. 

2. Advertise Across Multiple Platforms

As a financial institution, you have an incredibly diverse target market. You may need to reach everyone from high school and college students opening their first account to older adults looking into a reverse mortgage or transferring money out of their retirement accounts. That means you need to market across diverse platforms, too. 

Ready to Integrate Your TV and Digital Advertising?

TV and print advertising can help you reach a broad audience, while marketing through specific social media platforms can help you narrow your marketing to a more specific target audience. A media partner can help you tailor each platform’s content to the audience most likely to use it. For example, while Gen Z prefers Instagram and Snapchat, Baby Boomers are most often found on Facebook. 

3. Creative Unique and Fun Content

creativeDesign fun content that will help bring in users. Offer something different: something that most financial institutions simply aren't providing for their users. For example, you might provide tailored content that will help college students save money or give them a better idea of how much they're going to pay on their student loans. You might offer fun savings advice or great investment ideas that account holders might not consider on their own. Have fun with it! The more creative your content, the greater the likelihood you will bring more readers to your website. This, in turn, will help keep you top-of-mind and increase the odds that consumers will choose your institution for their financial needs. 

4. Create a Local Connection

Now, more than ever, consumers are interested in supporting local businesses and institutions. They're looking for a sense of connection: a way to connect with their communities through their other interactions.

Create that connection for your business. As a local financial institution, you may want to be sure that you represent the local demographic in your ads. It's also valuable to put a face to your business within the community—host local community events virtually or that don’t require people to gather. Participate with and donate to local charities. Put a face to your business by letting consumers see those who work for you. The better they get to know you, the more likely they will be to choose you when they need a new financial institution. 

5. Offer a Free Consultation

freeGive consumers the option to come in and learn what you can do for them. Connect with them to provide financial advice, especially if you provide services other than banking. Often, people will hold back from connecting with your business out of a lack of knowledge. They do not know what to expect or what you can offer them, so they do not associate with you. A free consultation can help pave the way to more in-depth discussions and more satisfied customers. 

6. Provide Downloadable Related Content

To help capture leads and secure customer information, offer content to download related to your services. For example, you may want them to download investment advice, check out savings information, or get more information about your accounts. To get that information, they will provide you with contact information, which will allow you to connect with them in the future and further your odds of meeting their future financial needs. 

As a financial institution, you must take steps to stand out from the crowd. You don't want to be just one more institution in a sea of faces. Instead, you want to be the one that consumers think of when they need to make financial changes. A media partner can help you build an advertising plan that will fit your personal needs and help you stand out.

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