While much of the advertising dollar goes to the prized 18-to-35 demographic, Bill Murtha’s recent post on mature adults gives powerful witness as to why marketing to mature adults is critical, especially for community banks and credit unions. Murtha cited a recent survey that found that by 2018 nearly 70 percent of all disposable income in the United States will belong to … [Read more...]
Top 10 Marketing Questions for Bank Marketers in a Social World
Remember the day when having a web site was the number one task on your list? Fast forward 10 years, and now the bare minimum requirement that banks need in order to be found and connect with their prospects is a website. Social media, search optimization, analytics, customer feedback are now just as important to implementing a strategic marketing initiative for your … [Read more...]
Business Owners Are No Longer Rushing To The Bank
Years ago, as a small business owner, I spent a lot of time waiting for the mailman. Cash was always tight, and I held out hope that what the mailman delivered would be enough to cover all the checks that had already been mailed. Many of my clients had said the “check was in the mail,” so it was just a matter of time before they arrived. Back then deposits had to … [Read more...]
Bank Directors and Officers: How to Prepare for a FDIC Lawsuit
Over the past few weeks many articles have been published about the damage that has been caused by lawsuits the FDIC has filed against bank directors and officers. I know there were some things going on in a few banks that weren’t always done appropriately or legally, but the problem is that much of this activity had been occurring for years. As Warren Buffet once said, “Only … [Read more...]
Prevent bank branch closings with free WiFi?
In the most recent edition of the ABA Banking Journal, there is a sobering article about all of the bank branch closings over the last couple of years (Time to close under-performing branches). Over 2,300 offices have been closed to date and many more are in the process. Much of this is caused by in-branch transaction volumes dropping by 10% annually in many institutions. … [Read more...]