The banking industry is often considered sterile or cold. The marketing that many financial institutions put out can be regarded as stiff and impersonal, making it harder to attract new customers. Personalizing your marketing helps you separate your institution from the others, allowing you to recruit new customers who will be loyal for years to come.
Whether it’s a mortgage, a credit card, or a checking account, your bank is likely focused on selling a specific product to customers. Maybe you have a very loyal customer base aged 45 and up, but you also want to appeal to younger generations. To make sure your marketing is focused on a younger audience, alter your messaging to focus on Gen Z. Print and radio ads do not have the same effect as they do with older generations, so think about beefing up your social media strategy or diversifying into podcast advertising to engage younger customers.
Just because the banking industry is serious business doesn’t mean your marketing has to be. The products you sell as a bank can be life-changing for many folks, and your marketing can reflect that positive change with fun imagery and messaging. Show a happy couple in their first home or a college kid finally able to afford their first car. You can even get a little punny with your messaging so that your institution does not appear too stuffy. Get creative with your taglines, and don’t be afraid to have a little fun.
The more data you have on individuals, the more you can segment your customers in a meaningful way and better target your marketing. As a financial institution, you have more data on your customers than most industries, and this can work in your favor. For example, you know that only certain credit scores will be able to secure a mortgage loan, so you can automatically segment your customers into either the “good enough credit for a mortgage” or “not good enough credit for a mortgage,” so you won’t waste marketing efforts trying to sell products to people who don’t qualify.
Just because the banking industry can feel detached, it doesn’t mean you can’t take a more personal approach to your marketing. Have a little fun and show how you bring people joy. If you’d like some help livening up your marketing, call the experts at PRIME. We’ve been in the business of marketing for over a decade and have experience focusing on creative solutions for financial institutions. Let our team put a personal spin on your marketing!
If you enjoyed this edition of PRIME Pulse, take a look at some of our other related articles:
- Digital Marketing for Financial Institutions
- The Ultimate Digital Marketing Dictionary
- 3 Questions to Ask When Courting a Marketing Agency