When thinking about your marketing strategy, it’s a best practice to always reassess what distribution channels you are currently using and keep an eye out for new channels that can help you reach your target account-holders in new ways. To ensure that you are reaching and engaging your different audience segments, you’ll need to share your content through a multi-channel approach—matching each audience segment with its appropriate channel. Here’s a breakdown of the various channels and approaches:
Email remains a powerful way to connect, assuming that consumers have shared their emails with you (we do not recommend buying lists). Make sure you are sharing valuable information each time, and do not inundate them—twice a month is a good target cadence.
You can reach a variety of audiences with email since most people are online and you can segment your emails with personalized content aligned to your audience’s life stage and financial needs.
Don’t neglect your website as a distribution channel. Make sure that it’s optimized for SEO, promotes upcoming workshops, events and offers, and is a hub of free financial education content for your viewers. Don’t let your website become a place that only lists your products and services, you should be adding valuable content for your consumers to use and share. This will ultimately build consumer trust and loyalty with your brand.
Many of your buyers are on social media—so you should be, too. Remember to use social channels to engage, not sell. Update your platforms frequently, and respond quickly to consumer comments.
Each social channel has a different audience. As you post, keep in mind that the tone and overall message you are promoting in each channel should fit the audience in that channel.
Blogs are an easy way to provide new and valuable content to your audience, and since Google favors fresh material, it’s also a great way to help potential account-holders reach your website. Remember that it must be updated on regular basis with valuable content. Blogs are another way to educate your audience and drive consumers to want learn more about your financial institution while also building consumer trust.
Paying for ads on search engines or social channels can get more eyes on your content—and it’s often very affordable. Consider promoting big events, such as an upcoming workshop or offers, such as a low interest rate with paid media.
Offers are a good way of reaching online traffic as long as you have optimized your ad to the right keywords and the traffic you are getting is the audience you are interested in targeting. Taking time to set up your paid media and optimizing it is extremely important to get the most return on your paid ad investments.
Direct mail is great for engaging demographics like elders, who are not online as frequently—and has the added benefit of not ending up in a spam folder. Taking a fresh approach to your direct mail strategy can make an impact as overflowing inboxes have become the norm.
Often overlooked, your branches can serve as high value distributions channels. Training staff to promote events, offers, or education, can drive more engagement, as well as posters, flyers, and other materials.
Your in-branch staff can be an asset for up-selling opportunities and educating your account-holders, but they have to know the basics of personal finance before they can offer it to your account-holders. Taking time to train your staff using financial education will set your institution up for success in the long run.
Webinars combine the power of a workshop with the digital ability to be recorded, stored, and watched by viewers in future. Hosting a workshop using a webinar platform that you can share with your account-holders will have a long lasting impact especially on topics such as investing. TD Ameritrade produces a regular webinar, called Morning Huddle, to deliver investment insights to clients.
In-person workshops, on topics such as getting the most out of your retirement savings, are great ways to reach people who are not online. Additionally, face-to-face interactions can be more personable and engaging, helping to build a stronger relationship with account-holders. Elders who are not engaging with your content online are great candidates for your in-person workshops.
Outbound calls work best when the consumer has already engaged with your brand, such as after they download an online guide or receive direct mail. Trained staff is essential to success here, just like with your in-branch opportunities.
Employing a multi-channel approach is a must in today’s complex technology environment—but you also need to know who your various audience segments are, and what type of content to spread. For these answers and more, download our new guidebook,The Ultimate Guide to Financial Marketing Success in 2018: An Interactive Guidebook for Banks & Credit Unions.