presented by: linda varrell, apr marketing for the future northern ne school of banking #nnesb2015...
TRANSCRIPT
Presented by: Linda Varrell, APR
Marketing for the FutureNorthern NE School of Banking
#NNESB2015October 27, 2014
Today’s Session
• Understand the Role of the Bank Marketer• Explore Growth Strategies • Tie Bank Mission to Goals• Define Strategies & Tactics • Tackle Real-life Examples• Dig Deeper into Online Marketing• DIY Integrated Plan
Opportunities to Connect #NNESB2015
• Live Tweet with status or photos• Post updates on Facebook• Post updates on LinkedIn• Post photos to Instagram• Post updates on Google+• Connect with other attendees
We’re Not All “Mad”
Marketing Director Role
• Facilitate growth • Prepare overall strategy• Develop clear objectives• Manage budgets• Analyze and leverage data• Manage staff• Product development• Develop and measure key metrics• Manage vendors
Product / Market Matrix
HOW: Strategic Marketing Plan•Corporate Mission / Objectives
•Identify Marketing Opportunities
•Segment Broad Markets
•Select the Best Targets
•Position the Products / Services
•Set Measurable / SMART Goals
•Develop Strategies & Tactics
•Monitor & Measure
Bank Mission
In the Community to Serve
Segmentation
BROAD MARKETS• Demographics• Psychographics• Generations• Geographic• Geodemographic• Benefits• Usage
TARGETED SEGMENTS• Women age 25 to 45• LOHAS• Baby Boomers• Seacoast New Hampshire• D + P + Geo = GDG• Financial Freedom• Online Banking
Position Your Products
• Distinguish your product.Variety, quality, design, features, name, sizes, warranties, returns
• Price your product.List price, discounts, allowances, payment period, credit terms, match
• Promote to your target market.
• Place your products. Branch, online, smart phone, pad, ATM, remote
Set Measurable Goals
• Grow overall customer base• Increase share of wallet • Increase sales of products• Increase lines of revenue• Increase awareness • Build credibility in market • Educate customer
• People• Relationships• # of Accounts• Dollars / Fees• Perceptions• Reputation• Knowledge
Strategies & Tactics
What approach are we taking…
• Launch new small business product
• Use local online advertising to promote products
• Provide pricing discounts for long-term customers
• Make products available online
What activities will we pursue…
• Paid advertising, direct mail
• Run banner ads
• Create email newsletter
• Launch in-branch telemarketing campaign
Monitor & Measure
How are we doing?• Key success indicators• Website traffic• Volume of new activity• Volume of new clients• Products per Household• Leads generated• Engagement• Others?
Did we achieve our goals?
TIES BACK TO OBJECTIVES
Example
• Business Objective • Marketing Opportunity• Marketing Objective• Target• Positioning• Strategies• Tactics
• Become industry leader in innovation to attract next generation
• New Technology • Increase deposits by X%• Benefits - Convenience• Easy access• Make products available online.
Have target think differently about banking.
• Email, TV, print, direct mail, email, social media, POP, celebrity endorsement
Integration
Put on Your Marketing Hat
• Business Objective • Marketing Opportunity• Marketing Objective• Target• Positioning• Strategies• Tactics
• Be the lender of choice
• Gain 2% of market share
Marketing vs. Public Relations
Online is Essential
Online banking/mobile users:• Have checking• Are online• Have smart
phones• Are online• Text• Are online!
By the Numbers
Studies show• 97% shop online, first• 90% = car• 98% = house• 51% = online banking• 39% = use smart phone for financesPEW Research
Website
• Google-friendly• Responsive• Interactive• Keyword rich• Fresh content• Targeted landing pages• Google Analytics
New Tactics
• Ad Campaign– Print AND Online
• Broadcast Campaign– Radio/TV AND Video
• Mail– USPS AND Email
• Public Relations– Event AND Social Media
Social Media
Engagement• Reach• Likes• Shares• Comments• Click-through
Boosting Engagement• Pin post to the top of feed• Sponsor Post• Ask for Shares
Pay Per Click
• Google Ads• Local Outlet• Regional Outlet• National Outlet• Facebook Ads• Remarketing
Remarketing
• Visitor on your site • Visitor leaves site• Ads follow them• Bank only pays per click• Bank sees click report
For presentation purposes only, not actual remarketing tactic
Integration is the Only WayChannel Reach Frequency Impact Cost
Television ↑ ↑ ↓ $$$$
Radio ↑ ↑ ↓ $$
Print ↑ ↑ ↑ $$$
Public Relations/Visibility ↑ ↓ ↑ $
Online Marketing ↓ ↑ ↑ $Events / Sponsorships ↓ ↓ ↑ $$
Email ↓ ↑ ↑ $
Social Media ↓ ↑ ↑ $
Sponsored Content ↑ ↑ ↑ $$
Value of an Integrated Online Plan
• Measurable• Audience focused• Activity-based• Adjustable• Scalable• Results
“50% of the budget is wasted; just don’t know which 50%” - Wanamaker
Put on Your Marketing Hat - #2
• Business Objective • Marketing Objective• Marketing Opportunity• Target• Positioning• Strategies• Tactics
Take-a ways• Bank marketers wear many hats• Every bank has a different mission and plan• Research and segmentation are vital• Goals and objectives drive strategy• Marketing and public relations work together• Digital marketing a must• Social media isn’t going away• Channel integration reaches more customers• Management will expect measurable results
Questions?
Thank you…
Linda Varrell, APRBroadreach Public Relations
19 Commercial StreetPortland, ME 04101
Twitter: @BRPRPrezwww.broadreachpr.com
@broadreachwww.Facebook.com/BroadreachPR