The Challenge
In repeated surveys, community bankers rank “retaining and attracting new deposits” as their top priority. This comes as no surprise considering that the quest for deposits is both expensive and extremely competitive, burdening both marketing budgets and net interest margins.
The Solution
Thanks to Check 21 legislation, remote deposit capture has quickly presented itself as a valuable and efficient way to attract customers in the niche market of small business banking. By enabling your community bank to extend its reach far beyond your local region, remote deposit capture is an exciting vehicle to help build your brand in any market.
Embracing Change
Community banks are experiencing an industry-wide transition away from the traditional banking model where relationships were paramount and the local bank was as vital to a community as the church or school. The adoption of online banking and technologies like remote deposit capture have allowed more and more predatory banks to invade local markets. To survive in this highly competitive environment, community banks must embrace the latest marketing methodologies to package and sell their bank’s image. This can only be accomplished by building strong brands and product identities.
Making Plans
Once your bank has decided to offer remote deposit capture, it is critical that you plan your marketing initiative with the guidance of skilled and expert advice. Designing and executing a thorough campaign including writing your brochure, mounting a direct mail campaign and training your sales people to demonstrate the technology is critical to your success and requires experienced outside assistance.
Tips to Remember
- Differentiate your service by creating a distinctive brand – remote capture is exactly that – remote – it doesn’t capture the imagination!
- Create marketing materials that explain how it works in a simple way and in a manner that builds confidence and dispels doubts.
- Make sure you optimize your website and include remote capture in your cross-sell call-outs.
- On your remote capture-dedicated web page, make sure you embed the right key words to help users find it in the search results.
- Use Google and other search engines to promote your service. Since information regarding this topic is still somewhat limited on the web, you may benefit from a low cost-per-click.
- Make sure that your website has the capacity to capture leads for your business banking officers.
How We Can Help
Once you’ve decided to offer remote deposit capture, give 8voCreative a call to discuss how we can create a customized program for your bank. Here are just some of the components we can provide to help ensure your campaign is a success:
- Remote Deposit Product Branding
- Marketing and Sales Planning
- Direct Mail and Online Campaigns
- Website Optimization
- e-Marketing
- Sales Training & Coaching
In partnership with Diebold, 8voCreative has developed a comprehensive Remote Deposit Capture Marketing Toolkit for community banks and financial institutions.
Click here to view details.
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