The Lollipop Effect And Bank Marketing


The principles of a bowl of lollipops apply to content for bank marketing.Did your parents ever drag you to the bank as a kid? What made it tolerable? After you got to the front of the line, maybe you got a lollipop or two and that made the trip not so bad.

That’s the essence of content marketing right there and it’s something that banks can translate to the adult experience of interacting with a financial institution, both in the branch and online.

Let’s break it down.

The lollipop effect is all about the experience. You’re offering something with no strings–what is essentially a value-added service. It supplements the bank experience in a great way by making it better for parents, kids, and I guess in general also people who like candy.

Furthermore, lollipops aren’t too hard to come by, are pretty cheap, and require no upkeep besides refilling a bowl.

Stay with me for a second because these are the exact benefits of being a content provider.

People are looking for answers to their banking questions. How can I afford college? How should I plan for a baby? When will I be able to retire? How do I get out of debt?

The overwhelming majority of people will buy from the place that can answer their questions. These questions can be answered through content. Content generates leads.

Like a bowl of lollipops, content can be a value-added service that supplements the bank experience. With content, customers aren’t bombarded with ads, they’re informed and educated about financial products and ways to save that our relevant to them. Content provides no-strings answers and puts trust and dialogue ahead of the sale. These are opportunities for relationship-building that traditional ads cannot offer.Bank marketing can learn a thing or two from free lollipops.

Companies have been doing this for years and banks should be getting in on it. Home Depot is a resource for home repair knowledge. For example, they teach customers how to build a fence and wouldn’t you know it, people subsequently buy their materials for that project from Home Depot.

Moreover, content can fit easily into your bank marketing strategy, is very cost-effective, has a great shelf-life, and requires only a little upkeep.

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For more on how content can keep you competitive, even as branches are closing in record numbers, click here to check out our upcoming workshop. You won’t want to miss it!

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