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Branded - With Shelley Regin

Posted By Administration, Wednesday, October 17, 2018

Shelley Regin, Vice President of Marketing at Country Bank, sat down with Banking New England recently to chat about the bank’s new marketing campaign and how has it changed the way Country Bank does business.

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Don’t Let Your Website Keep You Up At Night

Posted By Administration, Wednesday, October 17, 2018

There was a time not so long ago when a bank closed for the day. As every bank marketer knows, maintaining a bank website is now a 24-hour proposition. When customers bank at every hour of the day and feel empowered to express themselves as easily at 2 a.m. as 2 p.m., the doors never close.

What’s more, while we as community bankers tend to identify ourselves by our people, it is a non-person, our website, which has become the defining element of our bank personality. The prospect seeking a “flavor” of our bank is not stopping by the nearest branch. Before they get in that car they are on the phone exploring your perceived sophistication, ease of use, products and personality. So how do we ensure website success?

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Where Should Your Deposit Marketing Efforts Be Focused In 2018?

Posted By Administration, Wednesday, October 17, 2018

Working in the banking industry it seems obvious that rates have been going up. That insight is not nearly so obvious to consumers and the absence of that perception needs to figure into your marketing. In a study conducted by Raddon, only 10% of consumers perceived that rates had already gone up. That’s a kick in the teeth to bankers who have been feeling the pain of increased cost of funds, but an important insight to marketers charged with finding deposits.

Here’s the problem. The public is so far unimpressed by the magnitude of our rate offers. Raddon’s research shows that while customers will shift their dollars around accounts in your institution for a small increase, it takes 3% extra to make them pack up and move their dollars elsewhere. The story is a little better among high balance customers—they’ll change shops for 2.5%. Most promotions today don’t approach that level of change.

That’s where the marketing rub lies. Even if you are successful in bringing in dollars to your latest CD campaign, there’s a good possibility that you’re just shifting current customer dollars around without making a big dent on new to bank money. What’s worse, in doing so, you may be producing increases in cost of funds that are significant to you without impressing the new customer.

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The Key to Figuring Out Your Marketing Channels

Posted By Administration, Wednesday, October 17, 2018

The oldest dilemma in marketing is “Which of my channels is working?” Yet with the rise of technology that question has only become more difficult to answer. Why? 

While the technology for tracking results has increased, the sheer number of promotional options has exploded, and so has the quantity of data a marketer must sort through to find the answer. What’s a marketer to do?

For answers, the New England Financial Marketing Association turned to media expert Marilois Snowman of Boston’s Mediastruction, and JoEllen Zmolek-Nyquist from Veridian Credit Union in Waterloo, Iowa, an experienced practitioner in media cost attribution.

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How to Build a Great Brand

Posted By Administration, Wednesday, October 17, 2018

As financial marketers we spend a lot of time thinking about brands. We fret about the cohesiveness of our corporate brand, our social media voice and our crisis management position. Yet there is one brand we sometimes overlook, a brand that needs to be nurtured and developed by every banking professional — our personal brand.

A lot of statistics get thrown around about how today’s younger workers will experience more job shifts in their lifetime than their predecessors. While there is debate about that number, what is certain is that reinvention is a way of life, whether through internal corporate changes or changing firms. To prosper in such an environment demands a clear understanding of what you stand for and the message you are trying to deliver. In other words, your brand.

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