Financial organizations are auditing machines. Year-to-date financials? Audited. Staff performance? Reviewed. Operations? Assessed. At the halfway point of the year, you’re already deep into evaluating what’s working and what’s not. But here’s what’s often missing from this comprehensive review: a financial services marketing assessment.
That’s a blind spot. According to recent analysis from The Financial Brand, increased marketing investment directly correlates with increased loans, deposits and revenue. If you audit finances, operations and staff performance, you absolutely should be assessing your marketing.
Here’s what a mid-year financial services marketing assessment should cover.
Assess Your Strategy
Does your marketing strategy actually align with your organizational goals? At the beginning of the year, you probably had a plan. But halfway through, circumstances shifted. The economy changed. Consumer behavior evolved. Your team’s capacity adjusted.
Is your marketing strategy still relevant?
A solid mid-year assessment examines whether your marketing is still driving toward your original objectives or if adjustments are needed. A few strategic vitals to measure:
- Your strategic plan (how does it direct marketing?)
- Your marketing calendar (do you have a content plan?)
- Your marketing budget (are you spending the right amount?)
- Your marketing staff (what hurdles are they encountering?)
Strategy isn’t something you set once and forget. It’s something you revisit regularly.
Assess Your Marketing Materials
Direct mail. Email templates. Digital ad designs. There are so many different materials you use to communicate marketing messages. Are your materials fresh, on-brand and effective? Or are they stale and underperforming?
A mid-year financial services marketing assessment means actually looking at the materials you produced. A thorough assessment identifies what’s working and what needs refreshing. The most common marketing materials mistakes we see are:
- No adherence to brand standards
- Inconsistent visual style
- Too much copy
Assess Your Social Media
Your social media presence tells a story. That story’s twists and turns indicate whether your social strategy is connecting with consumers or falling flat. A few questions to consider when reviewing your social media:
- Are you on the right platforms?
- How regularly are you posting?
- What’s your content mix like?
For starters, social media requires more than a once-a-month post. A mid-year financial services marketing assessment should reveal whether you’re truly using these platforms as relationship-building tools or just checking a box.
Assess Your Website
Your website is often the first impression consumers have of your organization. According to HubSpot, 94% of people believe your site’s design prowess is a reflection of business integrity. So, ask yourself:
- Does it reflect your current brand?
- Is it mobile-friendly?
- Are calls-to-action clear?
- Is navigation intuitive?
A website assessment isn’t just about aesthetics. It’s about user experience and conversion. If consumers are visiting but not converting, something in that experience needs attention.
Glare at Yourself
A credit union CEO once said something we’ll never forget: “We glance at our competitors, and we glare at ourselves.” That’s the mindset for a mid-year financial services marketing assessment. Don’t get caught up comparing yourself to competitors. Instead, take a hard look in the mirror at your own efforts.
Are you honestly delivering marketing that’s worthy of the investment? Are you proud of the materials you’re producing? Would you, as a consumer, respond to your own marketing? Be brutally honest. That’s where real improvement begins.
Get an honest assessment where you do none of the heavy lifting. Book a free consultation and let’s assess where your marketing truly stands.
Frequently Asked Questions About a Financial Services Marketing Assessment
Q: Why should financial services organizations assess their marketing at mid-year?
A: Financial services organizations should assess marketing at mid-year because increased marketing investment directly correlates with increased loans, deposits and revenue, according to The Financial Brand. While financial organizations routinely audit finances, staff, operations and compliance, marketing is often overlooked despite being a critical driver of business results. Mid-year is the ideal timing for a financial services marketing assessment because you have enough real data and results to evaluate what’s working, but you’re early enough to make meaningful adjustments that impact the second half of the year.
Q: What aspects of marketing should be included in a mid-year financial services marketing assessment?
A: A comprehensive mid-year marketing assessment should evaluate: (1) Strategy – whether your marketing still aligns with organizational goals given how circumstances have shifted since the beginning of the year; (2) Marketing Materials – review direct mail, email templates, digital ad designs and more to ensure they’re fresh, on-brand and effective; (3) Social Media – whether you’re truly engaging consumers or just broadcasting; and (4) Website – brand reflection, mobile-friendliness, clear calls-to-action, intuitive navigation and conversion rates.
Q: How should organizations assess whether their marketing strategy is still effective?
A: Organizations should ask whether their marketing strategy still aligns with their original objectives and current circumstances. Questions to consider include: How does your strategic plan direct marketing? Do you have a content plan? Are you spending the right amount in your marketing budget? What hurdles are your marketing staff encountering? Strategy isn’t something you set once and forget – it’s something you revisit regularly to ensure continued relevance and effectiveness.
Q: What should organizations evaluate when assessing their social media performance?
A: Organizations should ask: Is our voice consistent across platforms? Are we posting regularly? Are we responding to comments and messages? Are we actually engaging with consumers or just broadcasting content? Social media requires more than occasional posting. It should be used as a relationship-building tool. A mid-year financial services marketing assessment should reveal whether your social strategy is genuinely connecting with consumers or just checking a box.
Q: What does “glare at yourself” mean in the context of a marketing assessment?
A: “Glare at yourself” means taking a hard, honest look at your own marketing efforts rather than getting caught up comparing yourself to competitors. Ask yourself: Are we honestly delivering marketing that’s worthy of our investment? Are we proud of the materials we’re producing? Would we, as consumers, respond to our own marketing? Be brutally honest in this self-assessment because that’s where real improvement begins. This approach prioritizes internal accountability over external comparison.
