Kevin Tynan
Senior Vice President of MarketingKevin Tynan is senior vice president for marketing at Liberty Bank for Savings in Chicago.
Kevin Tynan is senior vice president for marketing at Liberty Bank for Savings in Chicago.
Social media may be the soup de jour of bank marketing, but its value as a business acquisition tool may be greatly exaggerated unless banks fine-tune their strategies.
As banks try to acquire new customers via digital channels, they should add content marketing strategies into their lineups.
For a more immediate payoff, community banks should focus marketing on older customers that are facing a new set of economic pressures.
As smartphone-carrying baby boomers retire, banks can no longer ignore seniors' unique digital banking needs.
In many cases, customers aren't staying with a bank's brand because they are satisfied. They are staying with the brand because it's too hard to leave.
Research shows the more consumers interact with branch staff, the more they dislike the brand. To improve their image, banks need to emulate Apple and focus on every customer experience detail in tech and in person.
Community banks can't win on size, but their values give them an upper hand in competing against cookie-cutter megabank branches.
The best customer prospects are specific individuals, so don't fall into the trap laid by surveys and articles that recommend a grand pitch to Generation Y as a marketing strategy.