With the use of logos and brand colors, banks are able to stand out among the rest with their brand recognition. Consumers are most likely to choose your bank if they recognize your brand. According to GoRollick, “brand recognition influences the consumer purchase decision through brand trust, which creates customers for life.” This is why achieving top of mind awareness is essential to banks. With banks having such a strong presence in the community, it’s important for consumers to recall your bank’s brand while also ranking in their minds. Here, we’ll go over three big ways banks can achieve top of mind awareness in their community.
Sponsor Events
Did you know that Wells Fargo is the top corporate sponsor in the United States? Why does this help top of mind awareness? When consumers are at a local event, they are going to be thinking of Wells Fargo when they’re spending money. Your bank can do the same if they sponsor local events in the community. Maybe you could sponsor your local high school’s soccer team or sponsor a small business networking event. Either way, having your brand at these events will help consumers begin to recognize your bank while demonstrating that you’re supporting the community.
Create Online Ads
Although using organic methods for consumers to reach your brand like SEO, are very useful they can sometimes take months to start working. When creating online ads you can jump the line and be right in your consumers’ faces. For example, you could create a Google AdWords ad for the keyword: Community Banks in *your city.* Or you could create social media posts and target those in your community that are close to the bank. Another option could be to create online banner ads on popular online community publications. By using these tactics, you will constantly be seen by your target audience, resulting in them being able to recognize your brand.
Hold Contests
Consumers love to win free stuff. And not just free stuff but GOOD free stuff. Hold contests that give out big prizes. Maybe the rules to enter could be to follow the bank’s social media platforms or to refer a friend to open an account. Regardless, when people win something good, they love to their friends where they won it from. This is a great word of mouth marketing strategy that not only builds brand awareness but will also leave an impression in consumers’ minds.
When it comes to banking, it’s important for your bank’s brand to be recognizable to those in your community. If not, consumers may choose your competitor that has a stronger brand presence than you. These three strategies will not only help you stand out amongst the competition but also build top of mind awareness.
Do you want more tips? Keep a look out for my next post on building brand recognition that will go up next week!
