Some people graduate college with marketing degrees…but little do they know, their coursework has only just begun. Bank and credit union marketing is ever-changing and evolving. There are strategies and tactics relevant ten or even five years ago that now pale in comparison to the newest developments. Staying relevant requires constant learning and experimenting.
However, there are also tried-and-true principles still effective despite marketing evolutions. Abandon these core principles at your peril. Fancy new techniques still rely on solid marketing foundations to work.
So, what’s new? And what’s old (but not out-of-style)?
The New
- AI Search – It’s known by many names (generative search, agentic search, etc.). But no matter what you call it, it’s increasingly relevant to how you market. 71.5% of people occasionally use AI tools for searches, and click-through rates decline where AI search summaries appear. Gear your new marketing content to answer questions users ask AI. Accumulating good reviews (via tools like Reviews UP) or appearing on directories also helps.
- Appealing to Kids – Many institutions have youth accounts, but not all tailor these programs by age group. Those kids will eventually become adults, so making positive impressions now pays dividends for the future. Your youth program can’t be a one-size-fits-all experience. Change visuals, language and UX so it’s different for an adult, a nine-year-old and a 15-year-old. Rivals like Greenlight have made family-oriented banking a more competitive space than ever before…so don’t sit on your hands!
- Fighting Ad Apathy – A recent survey found that 93% of consumers skip ads. People see so many that they automatically tune ads out, regardless of medium, unless it’s attention-grabbing. It’s not good enough to merely have ads. Humor, novelty and creativity are the newest success metrics. So many major brands cleverly partner with influencers for that exact reason (like with this Totino’s partnership).
The Old
- Storytelling – Ultimately, it doesn’t matter what you do with marketing if you don’t tell a story. People’s lives are stories where they are the protagonists. Will you help them achieve their goals? Or hinder them? Follow the StoryBrand framework: a hero (consumer) has a problem and seeks a guide (you) to give them a plan, call them to action and help them avoid failure while achieving success.
- Targeting Pain Points – People act because they have problems to solve. Your marketing must show how it solves consumers’ problems and simplifies their lives. Don’t be afraid of mentioning problems in your marketing. It will only make your brand seem “negative” if you refuse to provide the solution. And it won’t be “fear-mongering” either – as long as you don’t exaggerate or make up a problem.
- Content Marketing – Ok…maybe this one isn’t super-duper old, but original content marketing techniques like blog and email newsletters sound rather archaic next to newer methods. However, recent blogging statistics show around 80% of marketers either get some results or strong results from their blogs. People continue to reliably check their emails as well. Don’t ditch trusted content marketing techniques for shiny objects. Those more traditional digital marketing tactics are still effective.
Whether new or old, bank and credit union marketing can be a lot to handle for stretched-thin organizations. Book a free consultation and get a marketing partner that can take work off your plate while bringing creativity when you run dry.
