Monsters. They fill your favorite books, movies and mythological stories. From Dracula to the Alien to Medusa, there are plenty of monsters to fear.
But the scariest monsters out there are the ones attacking your business.
Unlike mythical creatures, bank or credit union marketing monsters are a true threat to your well-being. And you must arm yourself with the right weapons to take them down. So, here are three marketing monsters and how to destroy them.
1. The Skeleton
The Skeleton is a tricky creature because it doesn’t look that dangerous. After all, it’s just a pile of bones. Right?
But the very nature of the Skeleton makes it dangerous to your bank or credit union marketing. It’s bare. There’s very little happening. Everything it says has a hollow ring to it. It’s tempting to gut your marketing during economic downturns, but emaciating your marketing causes far more harm than spending money on it.
Weapons: Invest in bank or credit union marketing (both with your time and money). Become a consistent voice in consumers’ lives and constantly communicate with your market. Target consumers' pain points rather than focusing on how wonderful you are. Remember: doing only the bare bones won’t cut it in today’s industry.
2. The Vampire
The Vampire sucks you dry, leaving your institution weak and lifeless at the end of its feast. And chances are, your bank or credit union marketing has a Vampire – an inefficiency or misguided effort eating up your resources with little return.
You might invest too many budget dollars in direct mail when digital advertising would be more fruitful. Or your marketing staff wastes time creating newsletters when a consistent social media presence delivers a better ROI. Every organization’s Vampire will be different based on culture, circumstances, niches and so on.
Weapons: Perform a cost-benefit analysis on your bank or credit union marketing efforts. Make a “stop doing list" from your analysis and reallocate resources to more fruitful techniques. Have a bottom-line reason for why you’re marketing. Drive a stake straight through the Vampire’s heart.
3. The Zombie
The Zombie affects every bank or credit union marketing staff at one time or another. It trudges along without passion or purpose, pointlessly shuffling one foot in front of the other. Marketing feels the same way sometimes.
Lacking bandwidth, you adopt the monotonous habit of throwing stuff out there without greater thought or creativity. Some pieces are effective, others not as much. But the core problems are marketing without strategic thinking and marketing without excitement.
Weapons: Yes, bank or credit union marketing requires daily production. But it also requires moments of sitting and thinking. Find your “why” and develop exciting ideas to fuel your passion. Think strategically about your decisions so you create more of what matters…rather than just more. Because you’re not a Zombie. You already have all the brains you need.
Now you’re a bona fide marketing monster hunter. Of course, you can still get some help if you need it. Download your “Budget Season Survival Guide” for quick tips on your marketing budget, and book a free consultation with On The Mark Strategies to get help marketing your institution.