More Leads, Fewer Branches
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Transcript of More Leads, Fewer Branches
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More Leads, Fewer Branches
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• 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
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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
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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
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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
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The Financial Institution Challenge(s)
• How do you increase sales when one important source of referrals and sales appointments is shrinking?
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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)
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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
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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.
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A “Teach not Sell” Approach
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• 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
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Content Marketing in Financial Services
Being an educational resource to help people make better decisions that could help them save money and avoid mistakes
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Old Barriers
▫ Regulation▫ Compliance- can’t just hire freelance
writers▫ Inside writers- expensive
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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
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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.
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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.
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What Type of Content is Needed?
• Your customer needs…
▫ Broad▫ Relevant▫ Branded▫ Organized around life events▫ Easy to read and understand. No jargon!
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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
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Examples of Delivery
Financial Answer Center
Business Answer Center
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Delivery Mechanisms
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Delivery in the BranchFrontline 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.
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Delivery Through Email
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Edu Posts
Edu Tweets
Delivery Through Social Media
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Delivery Through Mobile
• All content and features of the Financial Answer Center are formatted for easy access through mobile devices
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Worksite Delivery
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Bringing it all Together: Content Calendar
• Three step plan for getting your content out there:
▫ Message
▫ Timing
▫ Delivery channel
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Activity Levels to Revenue Impact
Calculator can be found at www.truebridge.com
Make your own assumptions!
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Build or Buy Considerations
• Strategy is simple enough, but in order you build, you must:▫ Create▫ Maintain▫ Host
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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
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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
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So, What’s the Next Step?
Schedule a 1 on 1 demo- learn more at www.truebridge.com