PRESIDENT’S MESSAGE Staying Competitive While Staying Local For community banks, success has always been rooted in relationships, trust and local presence. While those fundamentals remain unchanged, the way banks reach, serve and grow their customer base continues to evolve. Marketing and business development now play a more prominent role in supporting them, helping banks remain competitive while staying true to their community-focused mission. Approaches to marketing and business development can vary greatly. While these two functions are distinct, they should work together to support and complement the bank’s overall goals. Marketing primarily focuses on retaining and attracting customers. In contrast, business development is centered on driving growth, identifying opportunities and building relationships within the market. In general, marketing is about increasing visibility — often called “top-of-mind awareness” — and driving revenue growth, while business development focuses on expanding the bank’s reach and long-term growth opportunities. Together, these strategies should align to drive growth, profitability and the bank’s strategic vision, both in the short and long term. The structure of marketing and business development efforts can differ significantly Curt Brumley MIBA President, Community Point Bank by bank, depending on size, needs and market perception. Marketing functions may be handled in-house or outsourced to a marketing firm, while business development is typically driven by the bank’s leadership and goals. Advancements in technology, shifts in customer behavior and varying levels of technology adoption across generations 4 | The Show-Me Banker Magazine
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