3 Promotional Strategies that Small Banks Need to Use

Small community banks need to be strategic about their marketing efforts. Most small banks don’t have the funds to do everything in marketing but they could do a few. Unfortunately, because most small banks are concentrating on growing their revenue, they aren’t thinking about their branding or marketing strategies. Here we’ll go through three promotional strategies that some small banks are overlooking. 

Online and Social Media 

Having a presence on social media helps consumers create emotional connections to your brand by learning your values and what you stand for. This will also help them learn what products and services you have to offer while teaching them what makes you different from the competition.

Events and Experiences

Small community banks are the cornerstone of the US and your community’s economy. As a community bank, it is important to get involved with businesses or organizations around you. Whether that be sponsoring a little league’s baseball team, going to schools to teach children about money, or hosting events for the community, not only will this really help your brand but also help you gain new customers. 

Direct and Database Marketing 

 Directly sending emails to your customer database is a great way to spread information about any upcoming events, promotions or new products. Especially now when many customers are not visiting branches, you can reach out to them with information in their emails. This is a great way to grow your brand and generate leads for products or services. 

These three promotional strategies may seem simple and maybe a bit obvious but I’ve seen many community banks not use them. Some small banks are afraid of not being in compliance or the bank is “old school” and relies mostly on their salespeople to get their brand out there. Using these three promotional strategies will help take your brand to the next level and leave a lasting impression on your customers. 

Keep a lookout for my next post where we’ll go over more marketing tips and strategies to help your business grow revenue and brand awareness.