Good, Bad and Ugly Bank and Credit Union Marketing
Sean Galli
In Sergio Leone’s epic Western, "The Good, the Bad and the Ugly," three men are on the hunt for hidden treasure. The movie’s climax involves a legendary Mexican standoff between the three, ultimately won by Clint Eastwood’s character ("the Good").
Community financial institution marketing often seems to be a Mexican standoff between your own good, bad and ugly characteristics. But unlike in the movie…the bad and ugly sometimes win.
Let’s perform a mini marketing assessment to give you some common good, bad and ugly marketing traits. This will help you claim the ultimate treasure – growth for your business.
The Good
Any marketing assessment you do should tell you the good. Nothing’s ever completely bad, and that’s true about your marketing too. Common things many financial institutions do well are:
Employing Committed Staff – It’s rare to find bank or credit union marketing staff who aren’t committed to the job. Most are passionate about promoting the institution. This is a great baseline, since committed people drive results with the right tools.
Highlighting the Community – In big and small ways, community financial institutions excel at promoting the area around them. An institution’s interactions with local charities, businesses and events are often found all over social media. Pictures of nearby landmarks are sometimes on the website. The community is never far from the heart of banks and credit unions.
The Bad
In Leone’s film, Angel Eyes ("the Bad") is a cruel and vicious character. The bad things about your marketing aren’t just iffy…they’re violently ripping dollars out of your hands. A couple downright bad things that come up during assessments are:
Absent Calls to Action (CTAs) – People don’t act if you don’t ask them to act. You need clear, obvious CTAs on webpages and other communication pieces. Missing this element means missing the business, since the consumer won’t know how to start working with you.
A Marketing Desert – Nothing says "don’t come here" like a lack of up-to-date content. Barren social media accounts. No current newsletters. Promos from three months ago on your homepage. All these faults make consumers doubt your relevancy. Stay consistent with marketing to display you’re a dynamic institution.
The Ugly
The ugly side of your marketing isn’t as harmful as the bad side…but it (obviously) isn’t pretty either. Put a new coat of paint on these less-than-jaw-dropping areas:
Inappropriate Imagery – Smiling, happy people next to a scam blog post. Elderly individuals promoting an IRA (when it's younger folks who need one). Those are just a couple examples of incongruent imagery, and imagery that doesn’t match the copy or fit your goals confuses consumers.
Excessive Copy – You need copy, but you don’t need too much copy. The right number of words convinces. The wrong number of words clutters. Too often, marketing materials are full of jargon, paragraphs and lengthy bulleted lists. Cut it down! Tell your marketing story with fewer sentences; shorten lists to three or five bullets.
Ride Off into the Sunset
End the standoff between your good, bad and ugly marketing characteristics. Thoroughly review your marketing avenues and make improvements. Ensure the good wins…every time.
And if you want an outsider’s perspective on your marketing, On The Mark Strategies’ marketing assessments give you an honest perspective alongside helpful recommendations. Book a free consultation now, and ride off into the sunset with a stronger business.
