Marketing executives say digital channels offer a great opportunity for building a bank brand but also present quantitative challenges in proving the business case.
Digital advertising can be very effective for reaching target audiences, but only if marketing budgets are allocated appropriately and results accurately measured.
New digital capabilities give bank marketing a prominent place at the table for designing and implementing strategies for revenue growth.
To improve their marketing outreach, financial institutions need to focus on strategy, or targeting the appropriate customer segments, and upgrading their capacity in data analytics.
First Interstate Bank in Montana used a strategic planning process to improve customer relationships and profitability.
Banks with a strong sense of purpose and a willingness to partner with start-ups can move the needle on innovation in financial services.
Despite the stereotypes of Millennials going all-digital for their banking needs, jumping to conclusions about generational change can lead bankers astray, according to BAI Research.