While he was still a presidential candidate, Mike Bloomberg ran an ad campaign that, while it may not have been too well-received, can teach us something about what works on social media — and what doesn’t.Bloomberg hired popular Instagram accounts to post memes about him with the intent of building a more relatable, self-aware persona, but the plan Read More
The financial industry is being reinvented as mobile-first generations grow in buying power. Physical branches sit empty as customers flock to digital solutions. Almost everything customers want to do can be done online — and millennials and Gen Z prefer it that way. All of this creates trouble for marketers in financial services companies. How can they update Read More
Can marketing’s creative, spontaneous spirit productively partner with IT’s more structured, security-obsessed culture? It has to. The most brilliant big ideas produced by the marketing team will go nowhere fast if the technology needed to execute is not properly identified, executed and managed. At fintechs, traditional banks and credit unions alike, the marketing technology stack and functionality Read More
Let’s say your bank or credit union wants to raise its customer experience game. What step would you take first? Balloons in the branch lobby? A cute email on the customer’s birthday? Or how about something substantial—like New Math 101? “The first is that you have to acknowledge and understand that customer satisfaction, management and monitoring is Read More
Here’s how I think about successful customer relationships these days: Entanglement does not equal engagement. The way we do business now, in trying to become our customers’ primary financial institution, we entangle them: We get them in and then make it hard for them to “undo” the relationship web we’ve created. Direct deposit represents a great example. Read More
Financial services professionals traditionally see their marketing efforts through the lens of the “sales funnel” or “marketing funnel”; it’s been that way for decades. But working within that model could actually cause you to miss out on the majority of a customer’s potential lifetime value—most of which occurs after the initial transaction. That demands reimagining what’s possible. Read More
While social media has become an important marketing channel in the financial services industry, many banks maintain a presence simply for the sake of it. And those platforms—whether on Facebook, Instagram, Twitter or Snapchat—are just too crowded to embrace the wishful thinking of “If you build it, they will come.” Think of it this way: Would banks Read More
Like an overwhelming number of banks, Wells Fargo wants to treat its customers individually. It wants to know what products and services they want based on their life and financial situations. And in making a clean break from its past, it doesn’t want to suggest products its customers don’t need or already have—or have turned down a Read More
In an age when so much stress is placed on customer experience, financial institutions need to keep an eye on the safeguards that guarantee success. Terry Ammons, partner at PKM, explains how savvy banks can take security measures to the next level. Listen weekly on BAI Banking Strategies or subscribe to the podcast via: iTunes Stitcher Soundcloud Google Play You can listen Read More
For all the noise surrounding customer experience, dialing in to the best practices and effective strategies is another story. Kerim Tumay, vice president of marketing for Kiran Analytics (a Verint company), explains how outstanding in-person interactions can drive an overall customer experience that ensures loyalty and gives banks an edge in the marketplace. For more insights from Read More
