A solid acquisition and a high retention rate are the ingredients for a successful business, and this combination applies to community banks as well. However, acquiring new clients can become challenging and stressful at times. This is why we would like to share some tips that might help you smooth out the process.
1. Use simple landing pages that provide the right information
Research shows that mobile users won’t stay on your website for longer than 15 seconds. That is the time you have to grab their attention and provide them with the information they need.
When your potential clients click on one of your mobile ads, they have already shown the first sign of interest, and it is your responsibility not to let them down from here on out. Whether it was a specific offer or a general ad, feed them with information related to what they clicked on the first place. Avoid long blocks of text and go straight to the point. Remember, you only have 15 seconds!
You might wonder: how will these people make a decision in such a short period of time with so little information? Great question!
If your offer is appealing to your audience, they will want to chat with one of your representatives and get started. That is why you should provide them with the right tools to contact you. Include a visible and easily accessible call button and provide directions to your bank’s nearest location. Make it simple for potential clients to reach a bank officer who can guide them and close the sale.
Now that your landing pages are good to go, we need to reach the right people.
2. Partner with a great third-party data provider.
These days, mobile advertising is all about data. First and third-party data is extremely important to target the right user at the right time. Let’s step back and recap on the main differences between both types. Simply put, first-party data is loosely defined as all the information you already have collected about your audience, while third-party data is any information you can buy from outside sources.
Utilize first-party data to cross-sell existing clients with different products and invest in third-party data to acquire new clients.
Buying third-party data will allow you to target audiences by behavioral patterns, interests and hobbies, demographic, income, etc. For example, you will be able to target people who are small business owners with your business loan offers, or people with high income with your CD products.
If you are new to the fascinating world of mobile marketing and mobile advertising, you might want to consider partnering with someone who will handle this process for you. Third-party data has a cost, and you need to ensure that all your resources are being put into good use.
3. Don’t’ forget about those who showed interest in you in the past
People constantly visit your page. Whether they are already existing clients, mobile users who saw your ads or people who randomly landed on your website, your site has tons of traffic. This information is stored and needs to be put into use.
By using retargeting tools, you can stay present in front of millions of eyes. Keep in mind that you don’t open a bank account every day and, therefore, switching banks is not an impulse sale. You want to stay present in the life of people who once showed a sign of interest in your bank or one of your specific offers, reminding them that you are ready to become their new bank. It is a matter of timing and presenting the right offer for that one person to make the switch.
Even though data targeting and retargeting are great tools to acquire new clients, we can’t avoid talking about geofencing.
4. Target specific areas which have customers you want to acquire
Another good and effective way to acquire new clients is by targeting specific areas with specific products. Don’t blanket an entire city with the same promotion because not everyone has the same needs. If you target specific areas which have customers you are looking to acquire, your campaign results will be much higher.
We all can agree that you won’t find many clients willing to open a student checking account in the financial district of your city, right? Even though a couple interns might be stressing out to score their first big paying job, you will be more successful targeting the college campus and its facilities.
Geofencing also allows you to personalize your message and connect with the audience on a deeper level. Include names on your ads that your audience can relate to, such as the neighborhood or the University they attend. People will feel that your ads have been created for no one else other than them.
And finally, but certainly most important…
5. Provide relevant content to all your audiences
None of the previous steps will work if your message is not relevant to your audience. No one will visit your landing page if they don’t first click on your ad. It won’t matter if you paid for quality third-party data or if you have carefully geofenced the right place…
It is very important that you design multiple ads, with different imagery and different copy. Try to word the same message in multiple ways and A/B test each piece of creative. You will be surprised by how small tweaks can make a big difference in your ad performance.
No one said that leading a successful mobile marketing campaign was easy, and after going over these five steps, you might feel a bit overwhelmed. It is a lot to take in, and you might want to consider a couple of changes in your mobile marketing practices. However, if you feel like your best bet is to hand it off to the experts, there are multiple agencies who’d like to you out.
RAIN is a full-service mobile marketing technology that specializes in helping community banks grow, with federally compliant ads that generate clear ROI. Their team helps you connect with your ideal clients while ensuring your campaign meets your goals every step of the way.