ABA Banking Journal - September/October 2015 - (Page 28)

FEATURE > MARKETING TRENDS Meeting Customers Where They Are The savviest mobile and digital marketing strategies embrace the swiftly changing marketplace. bY JeAN FeINGolD m obile devices are a driver of industry change, profoundly impacting the way financial institutions interact with their customers. The key for banks, perhaps, is keeping up with technology's rapid pace. As customers increasingly turn to digital outlets to conduct much of their banking business, banks can keep step by using the same technologies to increase customer engagement. In an era where few can be found without a phone, laptop or tablet, banks must acknowledge and utilize customers' preferred communication methods, says Josh Redel, digital marketing director at Central Bancompany in Jefferson City, Mo., which operates banks throughout Missouri, Kansas, Illinois and Oklahoma. "The majority of a consumer's decision to bank with a particular financial institution involves digital media in some 28 ABA BANKING JOURNAL | sEpTEmBEr/OcTOBEr 2015 form or fashion," he says. "Social media is exploding, and we believe these online conversations are becoming the new marketplace." finished with an online banking session. This way, communication does not interfere with the customer's banking experience. And even when these conversations aren't happening face-to-face, the customer must remain at the heart of the strategy. "We need to make sure we are adding value to the lives of our customers and they are engaging with our brand, whether it be through a calculator about retirement savings or an infographic about what to expect as a first-time homebuyer," Redel says. "Never lose sight that customers always come first-even on digital media, where it is a little tougher." No additional signup beyond online banking registration is required. Upon logging out of a banking session, the customer is simply "interviewed," or asked one or two targeted marketing questions, which are provided by Micronotes. careful timing When it comes to customer engagement, timing is everything. Micronotes, a digital marketing firm, offers a banking service for both computers and mobile devices that engages customers after they are "We apply analytics to qualify each user for a particular interview based on what we know about that user," says Micronotes CEO Devon Kinkead. "We process the bank's data on the user, [such as] demographics, transaction history and product holdings, and take into account interview responses the user has already made in selecting the correct questions to ask." Based on the user's response to these questions, an appropriate product offer is made. If a customer

Table of Contents for the Digital Edition of ABA Banking Journal - September/October 2015

CHAIRMAN'S VIEW
UPFRONT
PICTURE THIS
ECONOMIC OUTLOOK
POISED AND PROACTIVE ON THE FARM
MEETING CUSTOMERS WHERE THEY ARE
INVESTING IN STRONG RURAL COMMUNITIES
ABA COMPLIANCE CENTER INBOX
OPERATIONS
BANKS IN INSURANCE
REAL ESTATE LENDING
BOARD MATTERS
INVESTOR PERSPECTIVE
LEGAL BRIEFS
FROM THE STATES
COMPLIANCE
INNOVATIONS IN SOCIAL RESPONSIBILITY
INDEX OF ADVERTISERS

ABA Banking Journal - September/October 2015

https://www.nxtbook.com/naylor/BAKS/BAKS0318
https://www.nxtbook.com/naylor/BAKS/BAKS0218
https://www.nxtbook.com/naylor/BAKS/BAKS0118
https://www.nxtbook.com/naylor/BAKS/BAKS0617
https://www.nxtbook.com/naylor/BAKS/BAKS0517
https://www.nxtbook.com/naylor/BAKS/BAKS0417
https://www.nxtbook.com/naylor/BAKS/BAKS0317
https://www.nxtbook.com/naylor/BAKS/BAKS0217
https://www.nxtbook.com/naylor/BAKS/BAKS0117
https://www.nxtbook.com/naylor/BAKS/BAKS0616
https://www.nxtbook.com/naylor/BAKS/BAKS0516
https://www.nxtbook.com/naylor/BAKS/BAKS0416
https://www.nxtbook.com/naylor/BAKS/BAKS0316
https://www.nxtbook.com/naylor/BAKS/BAKS0216
https://www.nxtbook.com/naylor/BAKS/BAKS0116
https://www.nxtbook.com/naylor/BAKS/BAKS0615
https://www.nxtbook.com/naylor/BAKS/BAKS0515
https://www.nxtbook.com/naylor/BAKS/BAKS0415
https://www.nxtbook.com/naylor/BAKS/BAKS0315
https://www.nxtbookmedia.com