Issue 1. 2022 9 have marketed and advertised themselves as plain old generic banks. A few got creative and started calling themselves community banks. Throughout history, we have given our kids piggy banks to put their money into as a savings account and taught them how to take it out in a real emergency (when it was time to buy some candy). Most of us have grown up believing that you put your money in a bank, and the bank keeps it for you until you need it. Historically, banks advertised CDs and money market accounts to get us to put the money in the bank and promoted car loans, mortgages, and home equity loans to lend it out — all while making a small margin in the middle. But the last few years have changed all of this. Now is the time for a really smart marketer to apply the “green banana” concept to the banking industry. We need to realize that every individual and business has different banking needs. For example, a large apartment community collects dozens of checks every day throughout the month. And each day, the apartment manager leaves at noon to take the checks to the bank and go to lunch. But before they go to the bank, they make copies of the checks and fax them back to headquarters to let them know which residents have paid their rent. Some apartment managers might decide to collect the checks and make a “weekly” run to the bank. Both solutions are inefficient. A smart bank marketing manager would target those apartment communities with personalized and customized marketing materials that explain how their bank can eliminate the pain of copying checks, faxing checks, and going to the bank every day to deposit them. These marketing messages would talk about the many benefits of remote deposit capture, ACH, and Lock Box services and even include the apartment community’s name or logo. A smart marketer could even create an additional piece targeting the apartment community’s corporate headquarters, making them aware of the potential liabilities of having their managers driving around town with thousands of dollars on hand at any given time. This marketing piece would also discuss the many benefits of remote deposit Neal Reynolds is President of Bank Marketing Center. BankMarketingCenter.com is a web-based platform that gives banks complete control of their marketing production processes. The portal provides users with unlimited access to more than four thousand professionally designed marketing materials, as well as millions of Getty images, photos, and videos. With this portal, banks can personalize and customize their marketing materials in seconds. No software, design skills, or ad agency are required. Today, BankMarketingCenter.com has been endorsed by 23 state banking associations and used by over three hundred financial institutions. To learn more about BankMarketingCenter.com and how your bank can benefit from the company’s web-based platform, both print and digital, visit BankMarketingCenter.com. Or, you can contact Neal directly by phone at 678-528-6688 or email at nreynolds@bankmarketingcenter.com. capture and how, if management utilized this service, they would see images of the actual checks instead of faxed copies. And even more importantly, deposits can be made in minutes without requiring anyone to leave the property. And, of course, customers utilizing remote deposit capture are a prime candidate for online bill pay and e-statements. In fact, that same smart marketer could develop an “Apartment Banking” product line that promotes all the bank’s services that an apartment community could use. To promote their apartment banking products, they could even buy the web domain name ApartmentBanking.com for $9.99. (This name is still available, but you’d better hurry!) The bottom line is this: There is no reason you can’t have an Apartment Banking product — just like you can have “Cat Litter Baking Soda.” And this doesn’t just apply to apartment communities. You can target different industries with this same concept. Find out what each industry needs that is unique and position your products around them. Sure, your bank can work with any industry, but you’ll get more business — and possibly better margins — by positioning and marketing yourself in different “aisles.”n A smart bank marketing manager would target those apartment communities with personalized and customized marketing materials that explain how their bank can eliminate the pain of copying checks, faxing checks, and going to the bank every day to deposit them.
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