We have a client that “survived” a core conversion last weekend.
For about a month, we used every possible means of communication to let people know that:
- Branches would be closed for 3 days
- Online banking would be down for 3 days
- Mobile apps would be unavailable
- Debit card access would be limited
We provided a dedicated webpage that detailed everything that customers would need to know with step-by-step instructions and all important dates.
This client has about 26,000 customers. For more than 30 days, we reached out to these folks with:
- 2 mailings
- 2 texts
- 4 emails
- Branch handouts
- Countless social media posts
- Prominent in-lobby signs
- On-hold messages
- Statement messages
- Home page banners
Out of all of this communication, only 3,384 people visited the dedicated conversion web page. That’s 13%!
As a career-marketer, this scares the heck out of me!!!
The remaining 87% seemingly existing in blissful ignorance. As proven by the number of nasty messages by phone, Facebook, website and more.
I realize that core conversion communication isn’t sexy. We didn’t use funny headlines or use images of puppies and tanned, toned models. We used no B.S. direct communication, “Hey you, do you wanna take your family out to eat this weekend? You’d better plan ahead, ‘cuz we ain’t gonna be around.” “This will be the one time in your life that you care about your account balances, because you won’t have online banking this weekend.”
Well, not quite THAT direct, but…
We weren’t selling anything. No persuasion. Just straight forward, “You need to know this about your money,” messaging … and only 13% cared enough to engage!
There are lessons in everything. What’s the lesson here?
It is absolutely, positively, unequivocally, without a doubt IMPOSSIBLE to over-communicate.
If you currently rely on one email, some branch signs and a statement message to make a promotion successful, think again … less than 13% will care!
If you buy into the ol’ rule of thumb that advertising requires a frequency of three exposures, think again … less than 13% will care!
Keep in mind that your target must:
- Be made aware of you (exposure)
- Become curious
- Begin to recognize you and your message
- Understand your message
- Engage with your message
- Become educated about why they should care
- Compare you to other options
- Decide to act
- Become loyal
All while being bombarded by everyone else who wants their money, cute kittens on social media, non-sense in the news and a child tugging at their pant leg.
- Make your marketing stand out to reduce the number of exposures it will take to notice and become curious.
- Make your message clean and clear to reduce the number of times it will take to understand.
- Make your call to action obvious to reduce the number of times it will take to get them to engage.
- Be different and give them a reason to choose you over the competition.
- Make the sales journey simple when they decide to act.
- Provide the best product and service possible to make them loyal.
Be patient! Even when you do everything right, only 13% will care.
SUBSCRIBE TO THIS FINANCAL MARKETING BLOG
Free Marketing e-Book
Free Bank & CU Marketing White Papers
Read Success Stories
See Our Videos
email me directly
Follow us on Twitter @MarketMatch