ABA Banking Journal - February 2012 - (Page 21)
PaSS The aSPiRin
THE BANKER-TO-BANKER ExCHANGE
The headache: What have you done to keep your marketing relevant?
Given the state of the economy, demographic changes, and rapidly evolving technology, how has your bank changed its marketing? Add your own thoughts and stories to these at http://tinyurl.com/marketingrefresh
Remedy 1: Get a fresh perspective Susan Eno, president and CEO, Citizens National Bank, $259.8 million-assets, Cheboygan, Mich. We totally changed our marketing efforts when we hired a nonbanker as our Marketing Director. My bank is located in northern Michigan and finding an experienced bank marketing professional wasn’t going to happen. As a result, we found an excellent person with a great marketing background—her experience just didn’t include banking. What an eye-opening experience. Our new marketing director went through all of our advertising and really challenged us: Do your customers really understand your message and your ads? We now have an ad campaign the public understands and without banker-speak! Remedy 2: Go where customers go Bryan Luke, executive vice-president, Hawaii National Bank, $577.9 million-assets, Honolulu, Hawaii We launched a new advertising campaign in early 2010 to increase brand awareness for the bank and shifted our heavily radio-based media mix to include TV. The new mix allowed us to reach a broader audience. New ads were developed with a consistent look and feel, which helped with ad recall. The ads focused on the corporate logo as the singular visual, using typographic treatment and clean and bold messaging. The look also emphasized use of an updated brand color palette. In 2011, we included customer images in our advertising, still keeping the framework of our
advertising consistent with our brand look. Looking forward, to reach consumers shifting to online banking services, we will include online media in the mix too. Online advertising will target a younger demographic and promote our Value Checking product. Value Checking encourages customers to utilize services such as eStatements, Online Bill Pay, and signature-based debit card transactions for rewards such as free ATM transactions, music downloads, credit reports, and gas reimbursement. We also renovated and relocated branches during the lull in the construction here. The renovations incorporated our new color palette and we installed digital signage and large-format window signage. Remedy 3: Tailor message to market Jim Tibbetts, president and CEO, First Colebrook Bank, $225.9 million-assets, Colebrook, N.H. Our main office is located in the northern rural area of the state, whereas our branches are located in the southern metropolitan areas. Historically we have been able to use consistent advertising throughout our markets. However, now we are seeing an outmigration of young people and working-age people from our northern markets. This is due to loss of a substantial number of jobs. Conversely, we have had an influx of retired or semiretired people into the northern market. This results in this region being the funding vehicle for the other regions. Just the opposite has taken place in our southern markets. We have had to split our marketing approach to reflect the chang-
ing demographics. On the small business side, marketing is easier. We do very little advertising in the north, as we have a substantial portion of the market share. However, since we have such a small portion of the market in the southern regions we are using testimonial ads to bring word of our relationship approach to the targeted audiences. Remedy 4: Step it up a notch Larry Myers, president and CEO, First Savings Bank, $523.4 million-assets, Clarksville, Ind. Recently we rebranded, keeping the old name but introducing a new logo. Being a community bank, our marketing tended to be “homegrown,” using the our own resources and local agencies. This time we hired a national ad agency. Though slightly more expensive than what we previously used, it was well worth the cost. They were able to generate advertising using our people to keep that community feel, but with a very professional end product. Through cable TV, we were able to secure advertising time specifically directed to our southern Indiana market on nationally recognized programs on cable networks such as ESPN and HGTV. In addition we stepped up the use of billboards along all major highways in the area. We are a bedroom community to Louisville, Ky., so many of our commuting clients see our messages daily. New branch signage made a tremendous impact. Besides giving us a clean new look, we incorporated channel letters (illuminated from within) on our properties that pops against the night sky.
february 2012 | ABA BANKING JOURNAL | 21
Table of Contents for the Digital Edition of ABA Banking Journal - February 2012
ABA Banking Journal - February 2012
ABA Community Banking
Pass the Aspirin
Stop Drowning Us
10 Tech Trends to Follow in 2012
ABA Banking Journal - February 2012