Marketing for banks–especially community banks–is obviously an important task. Attracting and retaining customers is imperative, and marketing plays a huge role in that process. But planning and executing a bank marketing strategy can be daunting and time-consuming. If your bank is still relying solely on traditional marketing tactics, such as flyers and mailers, then it may be time to consider adding mobile ads to your marketing plan. With nearly 80% of Americans virtually glued to their cell phones, it only makes sense to be placing your ads there on their screens, where you know they’re likely to see them. Plus, it’s much easier to target the customers you’re looking to acquire through their phones rather than through mass mailings of printed material.
Getting into the mobile marketing game may seem complicated, but it may be easier than you think. Here are three tips to help get your bank started:
1. Decide which products you want to promote and the demographic you should target.
The first step to getting on mobile is to know which of your products you want to push and the demographic you’re looking to bring in. Although branding campaigns highlighting your bank as a whole can be effective, the best way to get people to act is to show them a product they’ll be interested in. For example, if your bank has a student checking account offer, having a separate campaign for that product will produce more results than if you just showed students an ad highlighting your bank’s friendly customer service representatives. Knowing your audience is is also crucial to success. Whether you’re doing your mobile marketing in-house or using an outside agency, being specific about who you want to see your ad is imperative. You definitely want your target audience to be interested in the product you’re offering. After all, you probably won’t get very many clicks if you’re showing your mortgage loan offer to college students.
2. Mobile optimize your website.
One crucial part of mobile advertising is optimizing ads, landing pages, and websites for use on mobile devices. You want to make the process as seamless as possible for anyone clicking on your ads. Having a website that isn’t optimized for mobile can make your user’s experience frustrating and confusing. Putting a little time and effort into a truly mobile-optimized website can make all the difference to your customers and give the impression that your bank is current and up-to-date. In an era where 77% of people have smartphones, it only makes sense to be optimized for the small screens.
3. Use a third party agency.
If mobile marketing is a new concept for your bank, it may be best to work with an agency that already has years of experience working specifically with banks, like RAIN. After years in the banking and finance marketing space, RAIN knows exactly what works and what doesn’t. Agencies like RAIN will keep you from the steep learning curve of mobile marketing. They can design effective and compliant creative, run it by your compliance team for approval, and place your ad in hundreds of the laser-targeted mobile apps and websites. At the end of each campaign, your agency will provide your bank with a detailed report outlining what worked, what could have been better, and insights on how to improve your next campaign. Using an agency like this can definitely take the pressure off your bank’s marketing department and allow you to focus on other efforts.
We hope these tips show you that getting started in mobile marketing may not as painful as you thought. All you need is to find the right partner who cares about your bank’s success as much as you do. There’s never been a better time to start your bank’s journey in the mobile marketing world. The sooner you start, the sooner you’ll see the outstanding results.