Financial organizations face a fast-evolving landscape of consumer expectations. To stand out in a competitive market, the focus must shift from traditional, broad-strokes marketing tactics to a more streamlined, strategic approach. Ultimately, bank and credit union marketing that puts clarity and connection first will win the day.
Here’s a look at five essential priorities to consider for the year ahead:
1. Speak Consumers' Language
- Ditch the jargon: Financial jargon can be confusing and create distance between your institution and its consumers. People want clarity and transparency…not insider terminology that may feel alienating. Simplify your messaging to emphasize how your organization meets everyday needs.
- Share stories, not numbers: Financial folks love their rates. But what do these fancy numbers actually do for people? Rather than leading with numbers, highlight relatable stories. Showcase the benefits resulting from the rates. Share testimonials that reflect genuine consumer experiences to make your communications more relatable and memorable.
2. Get to the Point
- Cut the copy: Today’s consumers still have shorter attention spans than ever. Lengthy paragraphs or over-detailed explanations are a turn-off. Instead, create crisp, concise copy that immediately conveys your core message.
- Make every word count: Review your bank or credit union marketing materials to ensure every sentence serves a clear purpose. Ask yourself, "Does this line help our consumers understand or make a decision?" If not, cut it or rephrase it to maximize impact.
3. Keep It Simple
- Simple always wins: Overcomplicating your marketing strategy with excessive offers or promotions leads to confusion. Consumers aren’t sure about the best deal. Is there a catch? A clean, straightforward approach not only simplifies your message but also strengthens your brand presence.
- Design with simplicity in mind: In both digital and print materials, less is more. Decluttered layouts with minimal text and clear calls to action resonate better with readers and enhance the viewing experience.
4. Update Your Front Porch
- Prioritize your website's user experience: Your website is often the first impression prospective consumers have. Make sure it’s easy to navigate, mobile-friendly and visually engaging. Remember: it’s the digital reflection of your organization’s values and services. Mirror the modern day…not the AOL era.
- Make it a resource, not just an ad: Current and prospective consumers turn to your website looking for answers, not just advertisements. Optimize your site’s content to provide real value—think financial tips, FAQ sections or self-service options that meet their needs and position your institution as a trusted partner.
5. Team Over Individual
- A team beats an FTE: A single bank or credit union marketing employee has its advantages, and these individuals are usually go-getters well loved by their coworkers. But a full marketing team (whether in-house or outsourced) brings diverse skills, fresh ideas and the bandwidth to keep up with industry trends. From social media to website optimization, a team approach offers a more agile strategy.
- Leverage external expertise: Agencies and marketing firms add tremendous value with their niche experience and specialized tools, helping organizations achieve a cohesive brand presence across multiple platforms. Bringing in a team of experts ensures your institution stays ahead without burning out an individual employee.
Clarity, simplicity and commitment to consumer-focused experiences defines successful marketing in today’s world. It’s time to evolve from complexity to clarity—because in this era, simple always wins. Book a free consultation with On The Mark Strategies now to see how you can leverage external expertise to help you simplify your bank or credit union marketing.
