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if you're looking for a strategic marketing strategies to help increase the prices that you're a financial institution focusing on how you engage consumers and differentiate your brand is critical to today's competitive climate hi I'm Jackie McBain brand manager at bankbound digital marketing in the next few minutes I will share several key tactics to help you reach the Right audience and increase deposit growth did you know that 88 of consumers will shop online first before opening a checking account you may be the closest financial institution and you may have the best rates for your deposit accounts but if competitors are dominating the top organic positions in Google and Bing search results you're missing out on new customers local SEO search engine optimization is key to maximizing your online visibility for each of your branches many elements play a role in creating a comprehensive local SEO strategy and a few things that you can do to get in front of your consumers include creating local map listings for each of your branches in both Google and Bing creating city-specific content pages on your website for each of your bank's branches claim your business listing on popular review sites like Google Maps then proactively solicit consumers to leave reviews and take time to publish responses to every review you can find bump up your content marketing by creating educational content localized to your target market and perhaps help answer questions for your customers for example what home buyer assistance programs are available for local buyers if you're looking to Target more specifically using multiple channels to reach your desired audience is very effective to do this you should first identify your target audience the consumer and business personas who can significantly help you grow your deposits start by analyzing your existing deposit holders demographics and preferences to help you determine the overall profitability and interest rate sensitivity when completed you will have the basis to design the ideal customer profiles that will help you attract and retain more depositors and after establishing who you want to reach you can consider integrated marketing strategies that include multiple touch points some examples include digital advertising like pay-per-click search advertising through Google ads this often provides an opportunity to Target a specific audience allowing you to push past competition and gain prominence at the top of search engine result Pages imagine creating Google ads for each deposit service using geotargeting to reach prospects within a small radius around each of your locations please note that the world of pay-per-click is vast and there are many elements like budget ad extensions display advertising remarketing retargeting customer match and more so if you plan to enhance your online presence with paid ads it might be wise to have an in-house expert or better yet partner with the digital marketing agency that is experienced in helping Banks grow social media platforms like Facebook and Linkedin offer powerful targeting tools that allow you to deliver highly focused ads to a specific audience based on their interests and Lifestyles couple this with a comprehensive understanding of your audience and you can create social media ads that drive highly qualified traffic to your site if you don't already have one make sure you have an effective mobile presence to expand your reach to Consumers having a feature-rich mobile app allows simple transactions to be done anywhere anytime which is critical in today's digital world we all know that people's lives are busier than ever so offering time-saving features within your mobile banking app will make your bank more attractive and translate into growing your bottom line creating content and effective storytelling can yield serious results research backs up common sense that people purchase more often from companies than engage with them and provide education and solutions to their most pressing problems so dedicate time to the creation of high quality website content blog articles guides e-newsletters and more that will keep your audience informed lastly customer service should not be overlooked there was a time when serving up a smile and a small gift was enough to gain new accounts remember you're not the only bank trying to move potential consumers or sell additional products to your existing customers so look at how you can differentiate yourself for example you might want to look at making teller Outreach a core part of your internal marketing strategy and teach the team how to cross-sell other products or perhaps get more connected with your high net worth consumers by picking up the phone to reinforce the business relationship individuals and businesses will appreciate the Special Touch and attention to their needs and satisfaction I do hope the short video was informative and sparked some ideas please take a look at our blog seven Bank marketing strategies to increase deposits where you can find additional strategies and more detailed information to help your financial institution stand out in the crowd if they have any questions or want to accelerate your deposit growth strategy Bank Bound is here to help we work exclusively with financial institutions using proven data-driven marketing to ensure that our clients get the best return on investment