Published on March 10, 2014
More Leads, Fewer Branches
• 12 year old Financial Marketing Company • Principals have spent a majority of their careers in the financial services and marketing industries • Work with financial institutions of all sizes in helping them generate more sales through more channels
Agenda • Today’s Financial Institutions • Content Marketing: A New (Old) Strategy • Content Marketing for Financial Institutions • Delivery of Content • Build or Buy Considerations • Closing Thoughts
What’s Trending.. According to SNL, the net number of closings was 1,487 (based on 1,076 branches opened, and 2,563 branches closed). Branch Openings Branch Closings
Today’s Branch • Smaller ▫ New York Times - Feb 4th – “With Technology’s Aid, Banks Squeeze Their Branches Into Smaller Locations” • Less Traffic ▫ Bank Investment Consultant Feb 5th – Fifth Third expects to see branch traffic drop by 20% this year
The Financial Institution Challenge(s) • How do you increase sales when one important source of referrals and sales appointments is shrinking?
Consumer Buying Behavior • Fact 1: People are looking for easy to understand answers to their financial questions. • Fact 2: People will buy from the one who provides it. (74% of responders polled)
Consumer Buying Behavior • Fact 3: This is especially true around life events when, according to Forrester Research, they are 43% more likely to buy a financial product. • Fact 4: You want to be that resource, not the competition
Content Marketing Can Make You the Resource • Creating and distributing relevant and valuable content to attract, acquire, and engage customers. • Not a sales messages that interrupts but something that people actually want to engage with.
A “Teach not Sell” Approach
• Nike -1966 - benefits of jogging, not selling shoes • John Deere – 1895 – newsletter on technology in agriculture • Home Depot - today– teaches people how to build a fence Content Marketing: A New (Old) Strategy
Content Marketing in Financial Services Being an educational resource to help people make better decisions that could help them save money and avoid mistakes
Old Barriers ▫ Regulation ▫ Compliance- can’t just hire freelance writers ▫ Inside writers- expensive
Why So Important? • Content creates dialogues that uncover more needs – generating more leads – leading to more sales • Traffic migration from branch to online makes dialogue creation more challenging • Most online interactions are strictly transactional in nature
Delivery is Key! Relevant content is great- but it’s level of effectiveness depends on DELIVERY. • Delivered around life events when people are looking for answers and more likely to buy • Delivered in a way that engages people and allows them to uncover hidden needs • Delivered in a way that connects them with the person who can help with those needs.
Leverage Existing Channels • Content that sits idle or hidden on your site can’t help your institution or your customer. Get it out there! • Cost effective delivery by leveraging existing channels both online and in the branch.
What Type of Content is Needed? • Your customer needs… ▫ Broad ▫ Relevant ▫ Branded ▫ Organized around life events ▫ Easy to read and understand. No jargon!
What Type of Content is Needed? • Your institution needs… ▫ Professionally created and maintained to satisfy legal, tax and regulatory changes. ▫ Compliance reviewed including FINRA review letters for investment related content ▫ Reviewed and approved by B/D compliance department ▫ Expanded as needed to reflect changing rules and regulations
Examples of Delivery Financial Answer Center Business Answer Center
Delivery in the Branch Frontline employees introduce the content as a value added service and offer guides relevant to their life events as a part of their everyday service-focused routine. The request for a guide is an automatic lead.
Delivery Through Email
Edu Posts Edu Tweets Delivery Through Social Media
Delivery Through Mobile • All content and features of the Financial Answer Center are formatted for easy access through mobile devices
Bringing it all Together: Content Calendar • Three step plan for getting your content out there: ▫ Message ▫ Timing ▫ Delivery channel
Activity Levels to Revenue Impact Calculator can be found at www.truebridge.com Make your own assumptions!
Build or Buy Considerations • Strategy is simple enough, but in order you build, you must: ▫ Create ▫ Maintain ▫ Host
Build or Buy Considerations: • Affordable monthly subscription includes: ▫ Full turnkey Content Marketing System ▫ Customized to match your look and feel ▫ Integrated employee pictures and contact information ▫ Professionally maintained by a top national accounting firm ▫ Individual customer service to ensure active usage and shared “best practices” ▫ Hosted through top-ranked secure facility
In Closing… • People need help. • They will buy from the one who provides it. • Use a content marketing strategy to make that YOU. “We are living in a content-driven economy. You cannot survive in the banking space today without a content marketing strategy.” Jeff Pilcher, The Financial Brand
So, What’s the Next Step? Schedule a 1 on 1 demo- learn more at www.truebridge.com
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