Megan Allinson
Aug 17, 2020

Surveys indicate that using a multichannel approach can be especially effective in getting the attention of customers and prospects.

Today, marketers are under pressure to create a premium, personalized experience across a dynamic and growing number of customer channels.

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Competitive, economic and regulatory pressures are driving community bankers around the country to make strategic decisions about the future of retail banking.

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While the local branch is still important for banks to build relationships, about 74% of customers now access their accounts and make financial decisions online.

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Bank marketing is no longer just a matter of pushing credit via traditional advertising.

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There is no doubt that a growing number of bank customers are using digital channels, either via their PCs or mobile phones, as their primary means to communicate with the bank.

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Marketing has changed more in the past three years than in the previous thirty as new media channels, including social, have proliferated.

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Many bank executives still view marketing as the champion of brand building, essentially a middleman that funnels leads to sales and adds little value to the bottom line.

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In any company, rigorous strategic planning is bound to cause discomfort as old assumptions and long-held mindsets are challenged and re-examined.

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Traditionally, quantifying the return on investment (ROI) of bank marketing has been elusive.

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