21 PUB. 12 2022 ISSUE 1 This continued interest in personal contact is a specific reason consumers continue to value branch visits. • 83% of survey respondents agreed that branches are an important part of the banking experience • 61% are visiting branches the same as or more than before than pandemic • 68% visited a branch at least once in the previous 30 days For those who prefer face-to-face contact, community banks are preferred over regional or national banking competitors, representing a significant competitive advantage. Undoubtedly digital banking strategy is critical to any bank’s ongoing success, but the survey data raises an equally critical question for community bankers: What is your face-to-face banking strategy? Looking out for your customers: Previous Jay Financial research points to the importance of being known as a bank that looks out for its customers. This research, as well as our direct experience managing bank marketing communications campaigns, demonstrates that customers who perceive their bank is looking out for them are more loyal and more likely to open additional accounts than customers who feel otherwise. This takes customer advocacy — doing what’s best for your customers, even though it might not be best for the bank — one step further, in that the bank Lisa Kreienberg Creative Director, Jay Financial With over a quarter-century of developing successful marketing campaigns, Lisa truly appreciates how effective creative demands provide meaningful strategic insight. Jeff Hughes Director of Insights, Jay Financial With over 40 years of experience in data-driven marketing for financial institutions, Jeff excels in helping clients better understand the customer and market dynamics to drive incremental growth. proactively finds ways to be the customer’s advocate. Often, consumers feel they don’t have time to address their financial priorities, don’t know how to express what they need, or don’t know where to begin. A proactive bank gets the conversation started for them. This typically happens through your people at the branch level, although they will be more successful if supported by effective, needs-based merchandising, sales literature, and online resources. Ultimately, a data-driven sales and marketing communications plan is called for to deepen relationships with your customers by helping improve their financial management and financial security. In our experience, it can strengthen your brand, sell more products, and create happier, more loyal customers. w
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