Competition today isn’t just retail and commercial banks in the neighborhood. Consumer and business needs and expectations continue to change. Meanwhile, banks generally are earning less in terms of ROA, ROE, NIM, and other metrics.
No wonder marketing teams feel pressured to find new ideas and cost-effective solutions to:
• Generate profitable deposit and loan growth
• Cross-sell all lines of business
• Build differentiated brands
• Improve marketing effectiveness
We’ve helped financial institutions of all sizes and with differing focuses use our behavior-led approach to make the most of their marketing opportunities and resources. Our behavioral-led approach also delivers unique perspectives on building brand influence, improving customer/user experiences, and developing data-driven solutions.
Penn Community Bank - Content Development
Growing financial pressures from COVID-19 on families and small businesses prompted Penn Community Bank to commission two white papers for community education and distribution. It wasn’t enough to provide good financial advice; people and businesses needed to regain confidence in themselves and follow an effective action plan.
Our team has unique experience in helping people change attitudes and adopt positive habits. Tone of voice and word choice can make the difference between people accepting or dismissing good advice. Direct, clear instructions also make it easier to try new behaviors that, over time, become good daily habits.
The biggest impact on content was moving from “building financial literacy” to helping people “build financial resilience.” Good or bad, the word “literacy” triggers a negative self-image—the opposite of what Penn Community Bank wanted to achieve—especially for those who need help the most.
Community response was immediate and very positive from area residents and businesses alike. As COVID continues to impact our society and economy, these white papers remain a valuable resource and proof of Penn Community’s commitment to their community.
Bank of America—Digital Asset Management System
Early in our relationship, our team transformed a modest online ordering system into Bank of America’s first digital asset management system. The goal not only was to make it easier for bank offices nationwide to order literature, merchandise, and point-of-sale materials, but also ensure brand consistency, content accuracy, and regulatory compliance.
Initially we populated this “Off the Shelf” digital warehouse with headlines, photos, copy, ad templates, and printed materials that enabled greater regional personalization of sponsorship ads and line-of-business promotions. Over time, various cross-selling tools supporting all types of retail and commercial lines-of-business were added along with on-demand printing and fulfillment.
As technology improved, so did the scope and range of our recommendations. Eventually, Off the Shelf served as the regional banking hub for trade show displays, sales presentations, marketing tools, merchandizing materials, and much more—saving Bank of America tens of millions of dollars every year.
While this system ultimately was replaced and managed in-house, it shows how our team can employ new technologies in unexpected and cost-effective ways.