Effective Marketing strategies are vital to improving your brand awareness rates, brand reputation and traffic generation. As a small local bank, your target audience primarily comprises local individuals and businesses. Here are some creative marketing ideas to help you fast track your growth:
We live in a digital world and small local banks can’t survive solely on word of mouth advertizing. Even if you are targeting local customers within your vicinity, it is mandatory that you set up a Google Business Profile. More than 80% of the American population is on social media and many use the internet for a minimum of 4-5 hours each day.
Therefore, if prospective customers cannot find the name of your bank on the first page of Google, they may hardly care to approach your bank. With a Google Business profile, consumers searching for banks in your locality are sure to come across the name, address and phone number of your bank. You can also include information about bank working hours and some services that you provide.
One of the most effective ways to increase traffic generation to your bank is through a good website that hosts relevant content. Through your bank’s website, locals can learn more about your bank’s services. The publishing of informative blogs, case studies, and more can attract prospective consumers to your brand.
For example, publishing a blog post, “Ideas for home budgeting” could highlight your bank’s ability to help customers and even motivate them to start a savings account with your bank. You can also use these blogs to educate customers on the loan options you offer.
Local banks face the constant challenge of having to find new customers and keeping their current customers satisfied. Tapping into their requirements—like focusing on the needs of local families and businesses—and making an effort to assist them can yield successful results. For instance, if your bank can help a community member secure a mortgage during a financial crisis, this can effectively help you gain the appreciation, loyalty and trust of local community members.
Consider setting up social media accounts and using them to promote your bank and its services. Make sure to highlight community events of your locality and other location-specific information (anything important and interesting that can initiate engagement amongst local members).
Social media is an excellent medium to connect with local customers and build solid relationships with them. Crisp, short advertisement campaigns advertising your loan packages or engaging videos showcasing your easy application procedure can help attract local customers and consequentially improve your lead generation rates.
Online marketing is undoubtedly critical to growing your bank’s customer base. In addition, giving quality time and support to the community is also important. Your bank’s consistent friendly community presence through sponsoring local sports meets or taking part in donation drives can definitely bring more business in the long run.
Need more marketing strategies for your local business? Get in touch with our experts at The Local Marketer and let your brand stand out.