Banks and Email Marketing

The consolidation of America’s banks has seemingly left people little choice but to place their money with a financial giant such as Bank of America or Chase. But there are still options out there for those who, to quote a classic Bob Seger song, “feel like a number” with one of the banking behemoths and want to support local businesses by investing their money with a bank that is nearby and a part of the community. For these local banks, email marketing is the most effective way of luring new business and retaining current customers!

For banks, email marketing campaigns are an inexpensive method of delivering the message and the most direct way of ensuring it gets delivered to the target audience. The price of the email marketing software required for these programs is far less costly than placing an ad in the local newspaper or on local television or radio. In addition, it is easy to implement and manage, which means there’s no need to hire extra staff to handle the bank’s email marketing campaign.

These campaigns can begin in the simplest fashion possible: by having a notepad or clipboard handy at the entrance to the bank and asking customers to write down their names and email addresses. Let them know email is the best way to stay up-to-date on the inner workings of the bank, from its operating hours to the types of rates it offers on checking and savings accounts.

The most important elements of the email marketing software are the myriad personalization and customization options available to both the banks and the customers who receive the messages. Banks can refer to the recipient by his or her name in both the subject line and the initial greeting, each of which makes it far more likely the message will be read by the intended party.

Such personalization will also immediately display the difference between a “Mom and Pop” bank and the likes of Bank of America. Big banks cannot match the individual attention a local bank can provide its customers—make this abundantly clear in any bank’s email marketing campaign!

The software also allows recipients to easily forward the message to friends and family members. Word of mouth is by far the best and biggest way for local banks to spread the message and entice people to open accounts. While many people may be disgusted with their current bank, they’re often too intimidated by the prospect of shifting banks and/or conditioned to expect that it’s just as bad everywhere else.

But to get an email from a friend who is happy with his or her experience at a local bank can be just the impetus someone needs to finally change banks. Yet this decision may never be made without a bank’s email marketing campaign nudging a consumer into action!

Email marketing software is an investment that will pay dividends for years to come for not only the banks but their current and future customers. Look into luring customers to a local bank today with a bank’s email marketing campaign!