Marketers are often impatient people… we know our elevator speech and happily recite it at any given point, so it’s difficult to accept when your offers aren’t accepted or you lose out to a competing brand. Financial Institutions are definitely included in this mix – if a customer has an existing line of business, why wouldn’t they automatically use your…
We’ve written about how now is the time for all FIs to engage and connect, let’s expand on ways to connect with your emerging and existing base. One of the most obvious ways is your standard billboard example – a big sign that says we do it all.
A second approach could be full list of all the services provided by the FI; effectively used in your print collateral… but this could be overwhelming and depends on the recipient finding the most appealing offer.
A third approach would be to gradually expose the recipient to a series of offers/ messages from your FI. This method is destined for email delivery; it allows you to carry on a conversation and can easily be initiated. The first could be a simple link on an eStatement taking the recipient to a survey or a few offers. A subsequent email could offer a little more detail based on the responses/ clicks and slowly, the FI lets the recipient know that they can help with savings instruments, provide a credit card, help with a car loan, offer insurance or assist with the purchase of a home.
It is a gradual process, requires interaction but can be highly effective when done correctly. The cycle requires both parties to learn to listen… or in the email world, track clicks and feedback. Keep in mind that the interaction may take years to play out, here’s an example from a creative FI.
