More Leads, Fewer Branches

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Information about More Leads, Fewer Branches

Published on March 10, 2014

Author: TruebridgeFinancialMarketing



Bank and credit union branch networks have traditionally been a major source for cross-selling leads. But as more people do their banking online, channel preferences are quickly changing resulting in fewer and smaller branches. The slides from this Truebridge workshop can show you how content marketing creates dialogues with your customers, uncovers their needs, and nets you more sales opportunities.

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 Mechanisms

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

Worksite Delivery

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 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

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