Bank Marketing Strategies to Improve Online Banking

Over the last few years, the Internet has radically changed the landscape of the finance business. From product development to risk management and human capital, digital influences every aspect of operations. Banks should base their digital marketing strategy on how digital technology affects value, consumer behavior, market dynamics and priorities. How to make a bank marketing strategy to improve online banking?

The best bank marketing strategies

Let’s find out the best tactics you can apply to improve your online banking.

Explainer videos simplify financial concepts

Because of their short attention spans, your customers are unlikely to read long paragraphs of technical information about financial plans. Even if they do, the majority of the material may be incomprehensible to them.

More than half of all website visitors leave the page within 15 seconds. Many businesses avoid this by posting short movies on their websites. Videos featuring eye-catching graphics, easy-to-follow narration, and pleasant background music are ideal for grabbing customers’ attention and clarifying complex financial concepts. You can add a nice touch to your page design, video thumbnail, social media banner, or any other visual using shape generator.

Influencer marketing

You can also use influencer marketing to drive customer attention to your business. By choosing the right influencers, such as professional consultants, financial bloggers, and industry experts, you can educate your customers about your products and services as well as discreetly influence their purchasing decisions. You can make funny t-shirts with your logo and donate to influencers to increase your brand awareness.

Make your website the primary touchpoint for your customers

When it comes to solving problems with a product or service, the digital generation wants to have as little contact with corporate representatives as possible. Instead of hiring more customer service representatives, you could invest in technology that provides 24/7 access and self-help alternatives on your website.

Live chat technology is an important and helpful tool that can dramatically improve your customer experience. Some financial websites also have a FAQ section that answers the most frequently asked questions from customers. In this way, you can also monitor employee performance.

The information provided during live chats can also be used to create a FAQ section or even train the chatbot to interact with your customers 24 hours a day, seven days a week. These tips are also suitable for bitcoin banking.

Make a YouTube channel for educational and informational content

According to studies, 72 percent of customers prefer to learn about a product or service through video rather than any other media. Here are some tips for creating videos for Youtube:

Consumers value instructional and informational content. So, financial brands may use this to generate how-to content, tutorials, and data-driven material to assist users and advertise their online payment options and available services. 

According to research, videos between 16 and 120 seconds attract over half of all YouTube views. So keep your videos short and sweet yet providing users with relevant information.

Another winning method is to use your YouTube channel to provide live Q&A sessions and webinars to raise financial awareness while also providing information about your products.

Email marketing

Despite technological advances, email marketing remains one of the most compelling marketing platforms for providing clients with relevant information. According to statistics, companies make a $38 profit for every $1 invested in email marketing.

You can now get more out of email by combining it with your other marketing channels to automate your sales cycle and nurture leads.

Email integration can help you create personalized customer profiles that can give you insight into your clients’ spending and saving habits. Instead of sending generic email messages that might anger some users, you can use this information to design personalized messages that are relevant to your clients.

Here are some examples of how email integration can help your marketing efforts:

  • Divide your audience into smaller groups based on their purchasing habits
  • To increase conversions, create targeted content for specific segments
  • Receive advanced email reports to learn more about your consumers
  • Automatic data synchronization keeps your customers’ data up to date.

Mobile marketing

Any business, including banks, should have a mobile-friendly website. To keep clients feeling cared for, a well-designed mobile app can be used to communicate with them as well as send them  SMS alerts and notifications of their outstanding invoices and payment updates.

With a mobile app, it will be faster and cheaper to upsell and cross-sell current customers than to attract a new client. A mobile app can also be used for in-app marketing to provide highly targeted product or service-related messages to a customer’s device.

With in-app marketing, you can share information about supporting products with customers while they’re using the app, thus increasing engagement and visibility.

Blogging

A blogging strategy for your bank can help you improve site traffic, improve your skills, and expand your social media presence. Take some of your clients’ most frequently asked questions and convert them into helpful blog posts. These can be used to feed your social media profiles and as a customer service platform.

Keep the following important considerations in mind when creating a well-designed, SEO-optimized blog that suits the needs of your customers:

  • Provide a great user experience: it will increase your user acquisition
  • Include a call to action that links your suggestions together
  • Your bank’s brand should be reflected in font, color, and content
  • To add variety to your material, use photos and videos 
  • Maintain a consistent and easy-to-read post format.

Along with delivering high-quality, relevant material to your prospects’ searches, you should collaborate with your website developers to make sure your site loads quickly. When search engines understand that your site provides a great user experience, they will give your website higher priority in the search results.

Social media marketing

To market your bank and develop a brand presence among your competitors, you must use social media. However, rather than simply selling, social media should be used to engage your customers with helpful, relevant information.

Make sure your strategy avoids these typical mistakes:

  • Only self-promotional content is created
  • Infrequent or irregular posting
  • Using all channels to broadcast the same message (Facebook, Twitter, Instagram, etc)
  • Not preparing for negative customer reviews.

Banks should strive to develop material that is fun, engaging, and most importantly, shareable.

Your posts don’t have to be about finance and banking, you can make engaging content about everything in the world, from how to post to Instagram from Mac to the best books to read on vacation.It is just that your posts should be interesting, useful and engaging!

Reward programs

Consider these three major goals when creating a rewards program for your customers:

  • Increasing customer satisfaction
  • Extending the period of retention
  • Services and products that are cross-promoted.

You can create a one-of-a-kind reward program that attempts to achieve these goals. You can round the total up to the nearest dollar for every dollar the customer spends with his debit card, then transfer the difference into the customer’s savings account automatically.

This strategy encourages customers to use their debit cards on a regular basis, which builds consumer loyalty. Because the longer a customer stays with the bank, the more free money he earns, this affects retention. Finally, this rewards program allows them to promote both their checking and savings accounts at the same time.

Public initiatives

Customers seek advice from their banks on how to better manage their own finances. Rather than merely handing out a booklet with this information, do public seminars on a regular basis. 

Here are a few ideas for discussion topics:

  • New parents’ financial planning
  • Homeownership with smart savings
  • Making the most of  your credit card
  • Investing and wealth management.

Make contact with county officials to see if financial literacy classes can be added to local high schools. Join the national initiative to educate people on finances in order to position your bank as a community leader.

Strategic collaborations

Join forces with organizations that share your customers’ values. This could be accomplished through entertainment corporations, real estate firms, or non-profit organizations.

For example, partner with a concert promoter, to provide pre-sale concert tickets and exclusive deals for popular performances. To redeem the perks, the consumer will use his credit card during the checkout.

Conclusion

In this digital age, banks must step up their game and develop an ‘omnichannel’ presence where they can provide a seamless experience to their consumers 24 hours a day, seven days a week.

It is also vital to streamline financial transactions and put them online in order to avoid your clients or potential consumers having to jump through hoops. Apply the aforementioned tactics to effectively boost your business and improve client relationships.


Georgi Mamajanyan

Georgi is a result-driven SEO specialist with a passion for automation and neuromarketing. With the help of Off-site SEO custom scripts, we make sure we get the best for our clients.