Calibrate Communication Through Bank Branch Marketing

Bank Branch Marketing at a Glance:

• Nearly three-quarters of all new-to-bank sales happen at the branch
• Branch marketing helps expand relevance and reach by attracting and engaging the right audiences
• Effective bank branch marketing focuses on fewer but more impactful messages throughout the branch to drive engagement

With nearly 3 out of 4 new-to-bank sales happening in the branch, the retail channel has powerful potential for driving growth. However, the branch doesn’t simply serve as a sales engine for financial institutions. Unlike traditional retail channels, customers come to the branch with a specific mission in mind. Whether for an expedient transaction, expert advice, or both, branch visits are an opportunity for banks and credit unions to add value and deepen relationships with each customer, each visit. We know bank customers are not browsing or shopping like in a retail store, and they certainly don’t come to the branch to be a captive audience for communications. That’s why branch marketing and merchandising must be as thoughtful as it is strategic.

Coordinating Communication

As we outlined in Branch Marketing Fundamentals for Financial Institutions, the purpose of bank branch marketing is to maximize real estate to deepen customer engagement and share of wallet. That means leveraging the branch as a communications channel, both from outside where it serves as a billboard to draw people in, and from the inside where a choreographed customer experience delivers the right message, in the right place, at the right time. Coordinating this communication so it is both clear and consistent helps ensure financial brands can create maximum impact on their audiences. While specific strategies vary by institution, general objectives of branch marketing can be categorized as:

• Expanding relevance and reach by attracting and engaging the right audiences
• Creating a differentiated experience that reflects each brand’s customized approach
• Leveraging the branch network to drive client engagement and support sales
• Creating consistency and clarity for the brand across the branch network

Activating Bank Branch Marketing

As most financial institutions find ways to meet the moment, they focus on ensuring branch experience transforms from its transactional past into its advisory future. Branch marketing helps deliver on a life-centric shift for customers, emphasizing communications at the brand and product level. Staff at the branch serve to activate in-branch communications and customer experience at the same time. Effective branch marketing focuses on fewer but more impactful messages throughout the branch to drive engagement. Even more, branch marketing elevates brand storytelling with a focused, intentional approach to product marketing.

The zonal framework divides the branch into two macro categories for communications –acquire and augment. Acquire is for external acquisition messaging to appeal to prospects, bring in new customers, spotlight promotions, and share high-level product messaging. Augment is for interior cross-sell to help deepen customer relationships, staff education, and customer empowerment. Augment communications are powerful principles that provide the foundation for advisory experiences and supporting core banking functions that consumers report they’re seeking at the branch. Flexible elements can be dialed up or down to reflect local environments and audiences.

While all financial institutions need a holistic strategy for branch marketing, midsize financial institutions seem particularly challenged with revitalizing cluttered and ineffective branch environments and creating a consistent in-branch experience. These banks and credit unions need to streamline and optimize communications across their retail networks to take advantage of opportunities for better cross-selling and customer acquisition. Recognizing the outsized role of the branch channel for acquisition, branch marketing should be a top priority for financial institutions as they seek greater growth.

To learn more brand and marketing strategies for financial institutions, or to speak with one of Adrenaline’s experts, contact us today.

Adrenaline is an end-to-end brand experience company serving the financial industry. We move brands and businesses ahead by delivering on every aspect of their experience across digital and physical channels, from strategy through implementation. Our multi-disciplinary team works with leadership to advise on purpose, position, culture, and retail growth strategies. We create brands people love and engage audiences from employees to customers with story-led design and insights-driven marketing; and we design and build transformative brand experiences across branch networks, leading the construction and implementation of physical spaces that drive business advantage and make the brand experience real.