The newest internet sensation is...a credit card?

Posted by Rick Hall

During a week where the banking news cycle felt an awful lot like the current presidential campaign - with provocative coverage of items like the a cross-sell fiasco, calls for investigation and questions of who knew what and when did they know it - a really interesting, and potentially foreshadowing event took place in the industry.

It isn’t all that surprising that more negative stories commanded the headlines - as with the campaign - but this one caught our attention (and it wasn’t because of a cool Fintech rollout).

 

When was the last time a bank product flew off the shelf like the Chase Sapphire Reserve card?

We briefly highlighted the story in our most recent post highlighting the content marketing of 15 banks over a one-week period.  The card's popularity alone is newsworthy...but add to that the fact that Chase hasn't spent a dime on marketing the card. This really is a defining, viral 'gotta have one' moment for a bank product.

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Topics: Bank Marketing

How Banks Can Improve Social and Content Marketing: Part Two

A one-week snapshot of bank content marketing activity

Last week we posted that we were looking at the actual ‘what’ behind a random sampling of fifteen banks' social marketing efforts, specifically reviewing the industry's top used social media platforms: LinkedIn, Twitter, Facebook and YouTube.

As a refresh, the fifteen banks we observed were evenly divided into three segments:

  • Five traditional national and super regional US banks 
  • Five traditional community and regional US banks (generally under $10 billion in assets); and
  • Five non-traditional banks (virtual banks with no branches)

Again, we know this isn’t a scientific study (by the way, we don’t have dozens of interns around to surf sites and log activity – we did the work ourselves) and that the timing around Labor Day wasn’t picked for its height of social media activity levels. But even so, we found some trends that were at least interesting to us – and hopefully some of you as well.

So what did we observe from the social and content marketing efforts of 15 banks? 

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Topics: Bank Marketing, Direct Marketing

Content Marketing in 2016: How Banks Can Improve Social and Content Marketing Efforts

You don't need to spend much time on social media these days to realize just how overwhelming it is to process the constant stream of new content. And with research showing the strong correlation between number of posts per month to increased web traffic, this trend is only continuing to grow.   

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Topics: Bank Marketing, Direct Marketing

Increasing Your Business's B2B Marketing Success Rate in 2016: Part 2

Posted by Grace McMeekin

BKM Marketing CEO Bruce McMeekin recently presented at the 2016 NEDMA conference to highlight the best approaches that B2B marketers can deploy to improve lead generation and sales.

This is the second post in a series of blogs that incorporate key tips based on business buying behavior.

Post 2: Fine-tuning your B2B Marketing Sucess Definition

Before you jump right in and start creating B2B marketing content, your results will be stronger if you first define the marketing goals that you are trying to achieve.

In this post, we will offer more insight to help effectively develop your own definition of B2B success. This simple four-step process is crucial to setting yourself up for B2B marketing success.

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Topics: Bank Marketing, Direct Marketing

Bank mergers: Key activities to make the deal successful.

Posted by Rick Hall

One of the areas that we noted in our annual outlook in January was the fact that all signs were pointing to an anticipated increase in the number of bank mergers in 2016. While most of the deals announced to date have been relatively small due to increased regulatory scrutiny on readiness in larger institutions, there does seem to be a growing undercurrent of activity. This arguably is driven more on seller motivation than buyer strategy. Regardless of the drivers, it appears to be a good opportunity for smaller buyers to make hay while their much larger competitors deal with meeting the demands of regulators in preparation for their next move.

So the mixed environment (which seems to have a few years of runway left) creates the need for those who are in the position to buy to take stock of some internal factors prior to jumping on the merger bandwagon. Here are a few thoughts to consider going forward.

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Topics: Bank Marketing

Increasing Your Business's B2B Marketing Success Rate in 2016: Part 1

Posted by Grace McMeekin

BKM Marketing CEO Bruce McMeekin recently presented at the 2016 NEDMA conference to highlight the best approaches that B2B marketers can deploy to improve lead generation and sales.

This is the first post in a series of blogs that incorporate key tips based on business buying behavior.

Post 1: Key Trends in Business Purchasing

Before planning your marketing and sales tactics, it is helpful to understand how your audience likes to buy.

A Bredin survey in February, 2016, which includes 314 owners of small-to-medium sized businesses (SMBs), provides insight as to how business owners prefer to engage with sellers.

In this post, we will be discussing the four key takeaways from the Bredin Business Purchase Behavior Study.

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Topics: Bank Marketing, Direct Marketing

Financial Brand Forum: Top 20 Takeaways

Posted by Rick Hall

Don’t distress. It’s apparently worse than it seems...but it’s the same as it has been.

Last week, BKM ventured out to Las Vegas to attend the Financial Brand Forum. It was impossible to miss the underlying passion that the Forum brings to their event; we're already talking about plans to head back next year.    

There is no question that financial marketers today face more headwinds than ever before. Not only are the industry challenges as onerous as ever but now bank marketers must respond to a mobile world that dictates what all customers expect. Aren’t we just talking about only how we compare to the other banks in our market? Nope! And it won’t be that case ever again.

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Topics: Bank Marketing

Will you be traveling to The Financial Brand Forum 2016?

Posted by Rick Hall

BKM will be there!

Bruce McMeekin and Rick Hall are looking forward to attending the Financial Brand Forum next week in Las Vegas, from May 16th -18th.

If you are also planning to attend, let us know - it would be great to coordinate a time to see you while we're there! Either way, stay tuned - we will be sharing our thoughts and key takeaways through our blog and via twitter (@BKMMarketing) both during and following the Forum. 

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Topics: Bank Marketing

Enhance Your Bank's Sales and Marketing Initiatives: 5 Tips

Posted by Rick Hall

no-5-1176806.jpgPart three of a three part observation series

In my last post we examined a few ways that banks can elevate the role of data in their marketing programs to begin the process of gaining better alignment to overall strategy. This post will focus on the sales aspect of sales and marketing campaigns – what can be referred to the execution channel. But a word of caution: sales and sales people are no longer synonymous.

As with our data post, you will find five areas of focus for bank marketers to enhance sales activities. Since we emphasized the critical nature of list development driven by strategy, we would be remiss if we now veered back to traditional sales activities to execute the program. Modern marketing programs should create buyers - not just serve as a ‘warm lead sheet’ for field staff.

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Topics: Bank Marketing

Five Steps to Jump Start Your Bank Marketing Data Strategy

Posted by Rick Hall

Understanding Strategy Makes for Better Marketing Execution and Sales Results, Part Two

Part two of a three part observation series

In my first post I started the discussion around the need for better alignment between bank strategy and sales and marketing initiatives.   For years, many bank growth initiatives have suffered either from cases of data overload, often referred to as the kitchen sink strategy (leading to inconclusive results) or data access paralysis resulting from legacy infrastructure (which provides little, if any insights into why programs succeed or fail). These challenges are real and our daily experiences lead us to a frustrating conclusion: many bank marketers underestimate the importance of good data in building any worthwhile campaign.

A quick word about data

The rapid increase in the amount of customer information available to bankers today is staggering, not to mention the mind blowing amount of R&D spent by technology providers on Big Data initiatives - particularly when you realize how little of the output is actually being utilized. While the banking industry is continuing to progress, we propose five steps that can jump start your institution’s work with data in developing and managing sales and marketing campaigns.

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Topics: Bank Marketing, Direct Marketing