It seems as though whenever we’re talking about growing community financial institution business and revenue that we’re always talking about bringing in new business in the form of bringing in new consumers. Little attention seems to get paid to “keeping what you have,” which is unfortunate given that the cost of acquiring a new customer is seven times higher than the cost of keeping an existing one. Wheelhouse Advisors summed it up well in their article on retention: “Customer … [Read More...]
Elder Financial Exploitation. We’re Not Doing Enough.
The threat of potential financial abuse is one that elderly Americans are facing at an alarming rate. In a June 2018 white paper, “Elder Financial Exploitation. Why it is a concern, what regulators are doing about it, and looking ahead,” issued by the US Securities and Exchange Commission, author Stephen Deane called elder financial exploitation “a public health crisis, a virtual epidemic.” Why are our elderly more vulnerable to financial exploitation? And why is the problem … [Read More...]
The Negative Social Review… Is There Such a Thing?
In one of our more recent blogs, we talked a bit about the benefits of social media. Since then, we’ve been hearing from some financial institutions that, well, weren’t convinced that a social media marketing program was right for them. Their reasoning? Negative comments. Is that a legitimate concern? Well, the honest answer is yes… and no. The reasons behind the “yes” answer? Negative comments and reviews about your business on social media can be costly. Research has shown that … [Read More...]
How to Create that Winning Culture.
Today’s economy is cranking along. In fact, according to recent reports by the U.S. Department of Labor, the unemployment rate is at a 50-year low. What does this mean? Among other things, it means that just about everyone who wants to work has a job. Couple that with a record number of job openings – more than one opening for every unemployed person – and you have a serious challenge for financial institutions in search of top talent. Could the situation get even worse for those … [Read More...]
Humanizing the Digital Banking Experience
In today’s digital world, a consumer can learn just about anything and everything they need to know about a product or service without speaking to a human being. Good or bad? Well, that depends on who you ask. For starters, this relatively new process means that consumers no longer follow the traditional buyer journey, are far better educated, far more demanding in terms of both service quality and price, and are most likely considering far more competitive options. The result is … [Read More...]
Bank Marketing and Advertising
Elder Financial Exploitation. We’re Not Doing Enough.
The threat of potential financial abuse is one that elderly Americans are facing at an alarming rate. In a June 2018 white paper, “Elder Financial Exploitation. Why it is a concern, what regulators are doing about it, and looking ahead,” issued by the US Securities and Exchange Commission, author Stephen Deane called elder financial exploitation […]
The Negative Social Review… Is There Such a Thing?
In one of our more recent blogs, we talked a bit about the benefits of social media. Since then, we’ve been hearing from some financial institutions that, well, weren’t convinced that a social media marketing program was right for them. Their reasoning? Negative comments. Is that a legitimate concern? Well, the honest answer is yes… […]
Don’t Let Them Leave!
It seems as though whenever we’re talking about growing community financial institution business and revenue that we’re always talking about bringing in new business in the form of bringing in new consumers. Little attention seems to get paid to “keeping what you have,” which is unfortunate given that the cost of acquiring a new customer […]
How to Create that Winning Culture.
Today’s economy is cranking along. In fact, according to recent reports by the U.S. Department of Labor, the unemployment rate is at a 50-year low. What does this mean? Among other things, it means that just about everyone who wants to work has a job. Couple that with a record number of job openings – […]
Humanizing the Digital Banking Experience
In today’s digital world, a consumer can learn just about anything and everything they need to know about a product or service without speaking to a human being. Good or bad? Well, that depends on who you ask. For starters, this relatively new process means that consumers no longer follow the traditional buyer journey, are […]
Social Media Marketing
Weathering the storms of hurricanes and bank fraud.
Junk happens. As we know well, banks and credit unions aren’t immune from having to activate its crisis management strategy. And if you think your community bank is immune from crisis, you’ve got one. Without preparation, you’re asking for trouble, chin deep in a public relations crisis of your own making. And forget about the […]
United Airlines, a public relations multiple engine failure.
If we had to pick the public relations flub of the first four months of 2017, try United Airlines. Calling United’s fiasco, a flub is an extreme understatement. For the airline, this is a public relations multiple engine failure, a public image crash and burn. The bare facts: United personnel physically removed a Chinese passenger […]