Banks are Marketing Like It’s 1999

Banks are Marketing Like It’s 1999

Article from: The Financial Brand

Despite having access to more data and better digital tools than ever, bank and credit union marketers are not keeping pace with industry trends and consumer demands. Smaller financial institutions in particular are falling behind in applying modern technology.

The 2017 Financial Marketing Trends report provides an unequaled perspective into the allocation of budgets, prioritization of strategies and the challenges faced by financial marketers. The research also provides a clear delineation of these insights by size and type of organization, and the gap in capabilities and digital maturity between the largest organizations and local banks and credit unions is widening.

Given the lower cost of analytic tools, the availability of digital marketing platforms and the decreasing cost of digital communication, we don’t believe these gaps need to exist. In fact, there are some who believe that smaller organizations could actually generate better results than their larger counterparts because of the potential for 1:1 engagement.

  

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