Pub. 7 2017-2018 Issue 1

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S July • August 2017 9 showing a distinct preference for digital marketing channels over traditional media (print, broadcast, direct) for at- tracting retail deposits. Among the media marketing chan- nels presented, 78% of respondents indi- cated that online advertising was “very” or “somewhat” important for attracting retail deposits, with 21% considering online channels “very” important. The percentage of respondents recognizing digital as either “very” or “somewhat” important in attracting retail deposits was greater than print (74%), broadcast (51%), or direct (57%) marketing chan- nels. Larger community banks—with assets between $1 billion and $10 bil- lion—were more likely to consider print and broadcast channels “very important” for attracting retail deposits, but these forms now lag online advertising with all respondents. Community banks have, on occasion, been characterized as lagging wider business trends when it comes to the adoption of technology. However, in this regard, community banks may actually have adapted ahead of wider marketing trends. A study by eMarketer showed that, even as more and more ad spend- ing moves to digital channels, broadcast advertising spending is expected to con- tinue to exceed digital ad spending in the United States at least until 2018. For community banks that are often working with constrained ad budgets, digital marketing channels generally represent a more efficient and targeted method for reaching customers, either bringing them in to a branch, or engaging fully online.  About Promontory Interfinancial Network Promontory Interfinancial Network offers unique services that bring banks and other institutions together in a way that helps each to benefit from the Power of ManySM—en- abling them to offer services that otherwise might be too difficult or costly for them to offer on their own and provid- ing them with tools to help manage their balance sheets. Promontory Interfinancial Network’s services include Insured Cash Sweep®, CDARS®, Bank Assetpoint®, Res- idential Mortgage NetworkSM, IND®, and Yankee Sweep®. For more information about Promontory Interfinancial Network and its services, please contact Glenn Martin at (866) 776-6426, ext. 3462 or gmartin@promnetwork.com . © 2017 Promontory Interfinancial Network, LLC