American Business Brokers - November 2019

How to Take Full Advantage of Your Financial Institution Get More Bank for Your Buck

IN YOUR MARKETING CAMPAIGN Consistency Is Key Whether you’re banking with a credit union or a national giant, your financial institution likely offers more resources, account options, and saving plans than you’re using — or even aware of. As one NerdWallet article puts it, “Banks and credit unions continue to find new ways to both delight and confound customers.” If you focus on the delights, you can get more bang for your buck out of the financial institution you’re already using. Plus, there’s a good chance you’ll pick up new ways to stretch your retirement fund, grow your investments, and pass nest eggs to your grandkids along the way. Take these two easy steps to get started. 1. Get Clicking Even for someone with plenty of internet savvy, bank websites can be intimidating. Most are filled with tabs and portals that overwhelm customers, causing them to limit their interactions to plugging in a username and password to check their balance. Don’t fall into that trap! If you want to get a complete picture of what your bank has to offer, its website is the place to start. Next time you log in, set aside an hour or two to explore the site tab by tab. Take note of products and services you might not be using, like mobile banking apps, 24-hour hotlines, continuing education, and additional account options and their interest rates. Schwab, for example, offers a free online learning center complete Raising awareness for your business or brand is important, but doing so with consistency is arguably just as crucial. Nothing will turn your audience off to your brand quicker than a marketing campaign that doesn’t have a consistent voice, tone, or medium. On the other hand, there are several benefits to creating a consistent marketing campaign that will ultimately lead to greater success. Increased Recognition The more consistent you are with your marketing, the easier it will be for your audience to recognize your business. This might mean tweeting updates from the same Twitter account at the same time every day or sending out a newsletter at the same time every month. Behind every brand with a mascot, jingles, or an instantly recognized logo is a rigorously consistent marketing campaign. Increased Trust According to the Global Banking and Finance Review, people are 71% more likely to buy from a brand they trust, and building trust with your customers takes consistency. You wouldn’t trust a friend who only sporadically answered calls and always backed out of hanging out. As

with seminars, one-on-one financial advice, and more than 300 informative articles and videos. 2. Schedule a Sit-Down If your bank has a brick-and-mortar location near you, make a point to visit it. While there, take the time to learn about the latest updates from the reading materials on offer, make an appointment with a financial analyst, or speak with a bank teller. It’s in your bank’s interest to see your accounts grow, so representatives are happy to help. If you’ve already explored your bank’s website, this is the time to ask follow- up questions on what you found or make a financial move in a new direction. Whether you’ve decided on a 529 plan or a high-interest checking account, your banking representative can make it happen.

your brand becomes more consistent in the eyes of your customers, |they will trust you more. Increased Memorability It’s one thing if your customers recognize your brand, but another if your jingle, slogan, or logo sticks in their minds long after they saw it last. Repetition is one of the best teachers, and a consistent marketing campaign can teach your customers to rely on your brand for whatever you provide. Do you practice consistency in your marketing strategies? Or does it feel like you’re all over the place? If you answered “yes” to the latter question, it might be time to brainstorm some ways to stand out to your customers, and that starts with creating a consistent brand.




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