Financial Marketing and Cross Selling Blog
In a recent ABA Bank Marketing magazine article, Little Changes -Big difference, it was noted that “nearly 95% of visitors to a bank home page visit to login”. This is a staggering figure, especially when you consider all the other areas of your site and the importance they hold in building relationships.
If this is where your customers are going, then this is where you need to be talking with them about all the other great services you have that can help solve their problems. But you can’t look at online advertising the same way you look at print, radio or TV advertising.
In our recent post on bank marketing we highlighted a report by Forrester that showed 32% of customers don’t mind targeted ads in their bill statements but only 8% said they didn’t mind these same ads on the web. This clearly shows consumers view information they receive online differently from the information they receive in the mail.
So what should you be talking about with your customers online and how should your messages look? It should appear natural and not too flashy. Anything with bells and whistles will turn your customer off. Unlike with print ads where if the design doesn’t catch the eye within the first couple of seconds its next location is the waste basket.
In this same October issue of the ABA magazine another article, Build the... Read More >>
In a recent MarketingWeek article, they highlight findings from a Forrester Research report that shows citizens from the U.S., U.K., France, Germany and Italy are alright with receiving targeted advertisements in their banking statements they receive in the mail.
What was shocking to me was the finding that showed the percentage of consumers who still get and also read their mailed statements. I can’t tell you how many times I’ve checked the “eco-friendly” button for my statements. In fact, 70% of my demographic (25-34 yr olds) read their bank statements on paper. Who are these people?
However, one finding I hadn’t thought much about but when I do it does make sense is people are more willing to read targeted advertisements in paper form then online – 32% prefer statement ads while 19% said email and 8% said web. Direct mail was the worse with only 6% saying they don’t mind reading this approach.
The Internet is looked at as a free society and when ads disrupt this freedom it throws the viewer for a loop. Whereas the more traditional mailed materials are expected and not as intrusive.
Bank marketers need to make sure that these two forms of communication are different in nature. Online, the marketing must be more subtle and not as flashy. The more natural it looks the more likely you are to attract readers. Unlike print where it’s important to catch the eye with a bold design otherwise it will end up in the waste basket in lighting speed.
We like to tell our clients that the biggest advantage they have over competitors is the many touch points they have with their... Read More >>