What makes a good banker is the ability to think in linear fashion. What makes a bad marketer is the ability to think in linear fashion. For hundreds of years, banks think about acquiring customers in methodical progression – one client at a time. While a commendable and stable process, that thinking is in part why many banks are running in place gaining two customers and losing one. It doesn’t have to be that way and, in fact, it might be time to take a lesson from technology companies because they have been growth hacking for decades.
Tag: Growth Hacking
In Part I, we covered how bank marketing is changing from the reliance on in-branch brochures, print ads and a couple of events per year. Now that banks have embraced social media, 2017 will be the year that banks build on that understanding and not only wage proactive social media campaigns and interactions but get involved with advertising and expanded content. The Trump Administration will provide banks with endless uncertainty and volatility.