Updating automatic teller machines is one way banks and credit unions can position themselves as safe and easy venues to withdraw cash, make deposits or check financial statements..
Product variation means branding diversification
Banks and credit unions traditionally have smaller promotions budgets, and that opens the door for creative and successful marketing campaigns to draw customers to a particular brand or bank. Bank News reported that banks and credit unions need to find a niche within a broader financial market to increase visibility. Because more products are increasingly available through digital delivery, it is imperative that financial institutions find a way to utilize the technology to garner more attention, according to the website.
One way that marketing can draw customers to the bank or credit union is to promote new technological equipment. A new ATM machine can be a promotional windfall. Customers love to see how new technology will streamline their banking experience, and having a Saturday introductory event can be advertised through conventional and non-traditional mediums. Radio, television and newspapers are a great way to get word out and the new social media platforms can bring people to the bank in very short order. Putting the company logo on the new ATM machines is a way to visibly alert customers to the new product. Exterior branding is one of the most enticing ways to attract customers. If the eye is pleased, the heart soon follows is a common marketing phrase.
Customer experience in banking, like all other businesses, is the critical selling point. If a customer is happy, he or she will keep returning in the future. Knowing how to make customers feel secure is what bank and credit union executives need to focus on in their promotional campaigns to keep the company viable and on the cutting-edge in the eyes of the general public.
July 24, 2014