How do banks build buzz with social media? I’m not going to make you wait until the end of my article to get the answer. So here it is: they need to increase engaged subscribers via digital channels and then invite them to branches for something other than banking services. For example, entice them with a networking event, a business learning event or other such valuable opportunities.
Does this sound easy? It’s not. It takes time, resources, creativity and strategy. But it works. And here’s how.
Instead, they need to build upon the content they have posted online. Then build and build some more. This way, when those 81% take to their computers, they’ll meet your bank. And, if the content is interesting and targeted enough, they will subscribe. They’ll do this via your blog or social media channels, but the more they are subscribed to a brand, the more engaged they are, and the more likely they are to respond to an invitation to an in-house event.
But with so much content out there, how does your bank get noticed? Traditionally, retail bank marketing efforts had to compete strictly with one another. Not today. Today, banks are competing with all types of content, including breaking news, family pictures and advertisements from major brands with tremendous budgets.
To put this into perspective, a branch opening is not exciting enough to warrant any attention within your market. While it may be exciting to your bank and employees, the strong likelihood is that potential customers don’t care and are more interested in who was killed on last night’s episode of Game of Thrones.
Conversely, not every piece of content posted needs to be highly buzzworthy to garner results. It just needs to be relevant, valuable, targeted, entertaining and consistent. If you create content that meets this criteria, it will open the doors to more opportunities.
For example, I recently started watching comedian Conan O’Brien. (I know, I’m slow to the punch.) Judgement aside, I found one video that interested me on YouTube which opened the doors to 3,400 additional videos that Mr. O’Brien had created. The more I watched, the more engaged I became. The piece of content that draws your consumer in may or may not be the most buzzworthy. It just needs to appeal to them. If you’ve built a solid foundation of content behind that one piece, the floodgates will open.
The better your content is online, the more consumers will trust that branch-related events will be just as valuable to them. If the content you create isn’t of value, why would anyone walk through your branch doors and attend an event?
Jeannette Kescenovitz, who leads development of banking-as-a-service at Finastra, joins us on the BAI Banking Strategies podcast to share her views on how BaaS might grow its presence at U.S. banks and credit unions this year.
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