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Trends and challenges for financials in 2019
You spoke. We took note.
In keeping with our goals to increase collaboration with banks and credit unions across the country and to alleviate pain points across the financial industry, we recently sent out a survey to a significant sample.
The data is in, and we’re very grateful to the marketers, IT professionals and executives who shared their priorities as well as anticipated problems in 2019. Here’s what we learned:
Bank marketing survey results
What industry trends/marketing tactics are on your radar for 2019?
- 73.3% — Community sponsorships/events
- 60.0% — Email marketing
- 60.0% — Social media marketing
- 53.3% — Online account opening
- 46.7% — Direct mail marketing
- 40.0% — Email marketing
- 40.0% — Intranet
- 33.3% — Organic SEO
- 33.3% — Video marketing
- 26.7% — Online-only brand
- 20.0% — Gamification (e.g. fun kids’ educational tools)
- 20.0% — Live online chat
- 13.3% — Print marketing
- 13.3% — SEM/pay-per-click marketing
- 13.3% — Other*
- 6.7% — Market research
* Provided answers included “marketing analytics,” “marketing automation,” “text message alerts” and “text marketing.”
What do you see as your greatest challenge(s) in 2019?
Not everyone elected to answer this question, but here are the replies we received:
- “Marketing our brand consistently”
- “Increasing deposit accounts”
- “Keeping costs down while trying to use new technology”
- “Hiring and keeping quality employees”
- “Social media marketing and gaining membership”
- “Deposit growth”
- “Accurate marketing performance measurement”
- “Membership growth”
- “Moving to a digital-first strategy”
- “Continuing threat of fraud and how to mitigate it for our customers”
- “Expanding into new markets”
- “Personnel changes”
- “Maintaining the customer experience within existing ‘traditional’ banking channels while expanding other delivery methods that meet our customer service expectations”
- “Online account opening”
- “Digital marketing”
- “Commercial deposit growth”
We will evaluate the data and decide the most appropriate way to address our findings. This may mean future workshops, case studies or follow-up surveys, such as one that specifically focuses on content management system (CMS) features.
In the meantime, we’re poised to offer solutions for many of the marketing tactics and challenges noted above. For example, if community sponsorship is on your agenda, we can create a donation/sponsorship request webform with back-end tracking. Need a bank intranet? How about one with its own board-of-directors portal?
Our industry-improving initiative for 2019 is well underway. Thank you for being a part it!