Marketing executive Kevin Tynan dropped a startling bombshell in the bank marketing world earlier this year. In an article on his website, Tynan pointed to a recent Harris survey that said that big banks are winning the hearts, minds and bank accounts of two-thirds of millennials. Community banks, he argued, aren’t so lucky. In his last sentence, he dropped the bomb: “I say … [Read more...]
The power of “old-school social media”
I have a friend, a retired executive for a well-known global brand. On a wall in his home hangs a letter. It’s not a letter from his CEO, the President of the United States or a celebrity. It’s a rejection letter he wrote to a job candidate who didn’t fit the bill for his department. Unusual as this may seem, hear me out. The bright young woman came in to interview, … [Read more...]
Digital local advertising is on the rise; Some ideas for banks
For the first time, online local advertising is expected to overtake all local analog media. In fact, digital is expected to eat up more than half of all local ad dollars in 2016, according to Borrell Associates. In fact, Borrell predicts that online local advertising is expected to grow by 36.9 percent, ahead of last year’s rate of 34.9 percent. Overall advertising is expected … [Read more...]
Challenging Times and New Opportunities in the New Year
The Gallup organization offered some insights in March 2015 that still resonates as community banks and credit unions enter the New Year. And while for the kids and their music, it may be “all about that bass,” for community and regional banks, the key to success is the customer experience, according to Beth Youra, a senior consultant for Gallup. “Regional and community … [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...]