More Leads with Fewer Branches Workshop
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Transcript of More Leads with Fewer Branches Workshop
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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
• Emphasis on a “Teach, not Sell” approach
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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 make up for the decline of face to face traffic?
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Content Marketing: A New (Old) Strategy
• Fact 1: People are looking for easy to understand answers to their financial questions.
• Fact 2: 74% of people will buy from the one who provides it.
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Content Marketing: A New (Old) Strategy
• 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: If customers don’t get this content from their financial institutions, they will find it elsewhere.
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Content Marketing: A New (Old) Strategy
“People want to be taught not sold. When trust is the goal, companies should strive to sell by not selling.”
Joe Pulizzi, Content Marketing Institute
Content Marketing: The process of creating and distributing relevant content met to engage and educate the consumer.
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Content Marketing: A New (Old) Strategy
• Content marketing has existed since advertisements started showing up.
• Nike’s 1966 Jogging Campaign- centered around benefits of jogging, not selling shoes
• John Deere- 1895
• Home Depot
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Content Marketing in Financial Services
• Old Barriers:
▫ Regulation▫ Compliance- can’t just hire freelance writers▫ Inside writers- expensive
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Content Marketing in Financial Services
• Why is it especially important in our industry?
▫ People are looking for answers from someone they trust.
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Content Marketing in Financial Services
• Why is it especially important in our industry?
▫ Cost Effectiveness: Content delivered with cost effectiveness in mind, 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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Delivery is Key!
• Great content is great- but it’s level of effectiveness depends on DELIVERY.
• Content that sits idle or hidden on your site can’t help your institution or your customer. Get it out there!
• Content needs to engage people and allow them to uncover hidden needs, and connect with the person who can help with those needs.
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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 Branch
Onboarding
Account Servicing
Frontline 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
Feature your content in emails to your members!
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Twitter Solution Facebook Solution
Edu Posts
Edu Tweets
Delivery Through Social Media
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Delivery Through Mobile
EZ Viewer
• All content and features of the Financial Answer Center are formatted for easy access through mobile devices
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Worksite Delivery
Financial education is one of the most rapidly growing employee benefits. Your business customers can provide it to their employees with a simple link.
Link to Financial Answer Center as an employee benefit draws employees of business customers to you for financial education and people that can help
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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
Revenue Opportunity Calculator
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