Many people may think that bank marketing can be pretty stiff. However, that’s the exact opposite of what bank marketers should be going for. If you’ve studied marketing, you’ve probably had the word “storytelling” imprinted in your brain. But how can you instill “storytelling” in the financial world that can sometimes be seen as boring? Here are five ways banks can tell stories and examples of how some banks have already done it.
Telling Stories Using Emotion
First National Bank spoke to consumers by relaying people’s first moments. Whether that be the first time your child rode a bike, your first kiss, or even the first time you let someone go. They tied in these small stories with moving music in the background. Everyone has gone through at least one of these first moments listed in the commercial and whether that gives you feelings of happiness or sadness, your emotions connect you to the story. At the end, First National Bank tied it back to their company by stating that they will always be there with you throughout these “first moments.”
Telling Stories Through Your Employees and Work Culture
Telling stories with your employees helps attract new recruits while also telling customers what they can expect when coming into a branch. Bank of America does this by first showing the lives of a diverse number of people getting ready for the day. In the end, the audience learns that these people are actually Bank of America employees that live in the community and shows that they are everyday people.
Telling Stories Through the Lens of Segments
Your story doesn’t have to be a general one that everyone can relate to. You can target certain segments of your audience. Take for example Ally Bank. They used the lens of sports and showed how no competitor reaches their goals alone. Whether that be a coach, teammate, or family member, a competitor always has someone there to support or lead them to victory. In the end, Ally Bank shares that everyone needs an ally and when it comes to money, they’ll be yours.
Telling Stories Using Humor
Using humor in storytelling will keep your audience engaged while also making your story and message memorable. Now, I know the idea of using humor to sell a product or service in the financial industry can be a little intimidating. To help you out, here are tips that dive deeper into using humor for storytelling. Postbank does a great job of this in their ad by building up to a funny punchline. They then tied it all together by saying that if you have unexpected financial problems, they are the ones to call. I don’t want to ruin the joke, so take a look at it yourself!
Telling Stories Using Your Audience’s Problems
Demonstrating your target audience’s problems, conflicts or issues and how your bank can solve or help that problem is the basis of storytelling. For example, NatWest showed all the problems consumers experience in the homebuying journey. Some of these problems include the line for the open house being too long, the real estate agent being too pushy, or all the homes being shown have a huge flaw. Those who have gone through the homebuying experience can relate. In the end, NatWest explains that even though the homebuying journey can be very complicated, filling out the mortgage application doesn’t have to be. They make filling out mortgage applications easy by doing it all online.
So, if you’re super creative and working in bank marketing, don’t worry. The numbers and data won’t suck the life out of you. There’s a lot of room to be creative through the art of storytelling. Whether that be through your website, social media, or commercials, you must always start with the basis of a story in order to connect with your audience. Even though the world of banking can be conservative and serious this is a great moment to have some fun and be creative. Take a leap and go for it!
Already have ideas for your bank’s next story? Feel free to leave me a note at luz.garcia7411@gmail.com. I’d love to hear what ideas you’ve come up with.
