Technology has changed the way financial institutions conduct their operations and market to customers, and it’s nearly impossible for banks and credit unions to be successful without it. With new innovations in artificial intelligence, data analytics, virtual reality, and more, there are a lot of possibilities for tapping into customer behavior and executing more targeted marketing strategies.
But, it can be easy to get too focused on the prospect of new technology and insights that the core of your company - your brand - gets lost. That’s why your IT decisions must align with your overall brand strategy.
Consider these tips for how you can use technology not only to expand your customer base, but to enhance your brand awareness and achieve broader marketing goals.
A Great Brand Drives Customer Loyalty
In the financial industry, brand awareness can often be an afterthought, and a somewhat elusive goal. Because of the intangibility of branding, it’s not always clear how to achieve or measure awareness. But, there are a few ways you can use sales and marketing tools to support these efforts.
1. Establish regular communication
In order to promote your brand to customers and prospects, you need to start by communicating with them. This means establishing a cadence that will generate the response you want. A marketing automation tool is helpful here; it allows you to schedule and monitor email campaigns, so you can see what works and what doesn’t. Then, you can make changes to the schedule and your distribution targets based on customer responses.
2. Facilitate an emotional connection
Historically, the financial industry has not been one to prioritize emotional connections with customers because of its low attrition due to difficult switching processes. But, an emotional connection is essential to creating true brand loyalty and ensuring customers stay around because they want to and believe your institution provides the best service.
Incorporating personalization tools in marketing and communications is one way to drive this connection. These can include tailored, prompted messages within your marketing automation system that can be deployed in targeted campaigns. If your customers feel like you know them and understand their needs, they’ll be more likely to stick with you and recommend your bank to others.
3. Consistency. Consistency. Consistency.
Consistency is one of the most important branding rules to follow. Without consistency, it’s tough to create a lasting, recognizable brand that your audiences will see as credible. You want your customers and prospects to clearly understand who you are and what you do. As such, you need to use the same overall look and feel, and messaging in all marketing campaigns and across all communications channels. Cohesive imagery, graphics and content will go a long way in establishing your brand’s authority in the market and defining your distinct qualities.
Bringing Out the Brand
Your brand is a critical component of your business’s marketing strategy, and it’s important that technology does not distract you from this. Instead, it should be used to strengthen your brand and create stronger ties with your customers.
The 360 View growth platform allows you to do this. With the CRM you can maintain a comprehensive customer base and send automated marketing campaigns that align with your customers’ needs and promote your brand. Schedule a demo with our team today to learn more.