Tag: Deposit Marketing

How To Use the Price Multiple Tactic in Banking

The Psychology of Bank Marketing

Show a potential banking customer information, and their brain will quickly try to organize and synthesize the information. The easier the information is to organize, it turns out the more the viewer will like your ad. Our own Dr. Chris Janiszewski from the University of Florida and Dr. Dan King of the University of Singapore developed a theory on the “Fluent Processing of Numbers” and came up with research that tested the position in 2011 (HERE).

How Banks Are Stealing CD Customers

Deposit Gathering

There is a current trend afoot of refinancing certificate of deposit (CD) customer in order to take deposit customers away from sleeping banks and credit unions. While one bank’s “theft” is another bank’s competitive gain, both sides should be cognizant of the ramifications of this move. Some banks may let these customers freely go while others will combat the assault with higher rates, greater marketing or an improved structure. In this post, we explore both the math, the profitability, how best to play defense and how to use this tactic offensively.

How Your Bank Can Optimize Its Premium Checking Account

Premier Checking Accounts

When it comes to retail checking accounts, a premier or elite account usually tops the list in terms of profitability. The mix of performance characteristics and the larger balances fuels the product to produce better than a 20% ROE at many banks.

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