Hoosier Banker 45 Limits, terms, and conditions apply. © 2017 Promontory Interfinancial Network, LLC. BUILD RELATIONSHIPS With or Without Keeping Funds on Balance Sheet DIVERSIFY FUNDING in a Flexible, Cost-Effective Way REDUCE COLLATERAL BURDENS and Increase Asset Liquidity A Smart, Profit-Enhancing Solution To learn more, contact Erich Buckenmaier, Regional Director, at (866) 776-6426 x3354 or ebuckenmaier@promnetwork.com. Among the media marketing channels presented, 78 percent of respondents indicated that online advertising was “very” or “somewhat” important for attracting retail deposits, with 21 percent 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 percent), broadcast (51 percent), or direct (57 percent) marketing channels. Larger community banks – with assets between $1 billion and $10 billion – 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 spending moves to digital channels, broadcast advertising spending is expected to continue 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. HB
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