Homespun Marketing Can Be a Branch's Secret Weapon

In the two decades or so that I've worked with branch bankers, I've found that one suggestion tends to cause a disproportionate amount of alarm. It seems the very idea of any handmade, homespun marketing can cause apoplectic arm-waving from otherwise rational managers and support departments.

Get access to this article and thousands more...

All Financial Planning articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Comments (1)
There are two interesting observations from this article.
1) Most consumers ignore traditional marketing even as marketers beat their chests about how much value they are creating.

2) It is really a sad state of affairs when "helium balloons, and prize registration box a few steps from the main entrance" masquerades as bank marketing. What is the bank really marketing with balloons and prizes? Does anyone realistically believe that high-value customers will be drawn to the bank based on a balloon and a free coffee-mug? Will bank customers be more likely to apply for a mortgage, inquire about a life insurance policy or engage in an estate planning discussion because of a balloon near the entrance?

Bank executives should internalize the truths highlighted by Dave Martin and adjust their approach to ensure that marketing supports business goals rather than being a dangling low/no value added cost-center appendage.
Posted by Serge M | Thursday, September 04 2014 at 12:24PM ET
Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here