No metric should be entirely disregarded: While all KPIs provide valuable insights, it’s important to differentiate between primary KPIs (direct measures of success) and secondary or softer metrics (like engagement). Setting clear, upfront goals for each metric ensures a balanced evaluation of performance. Q: How important has digital marketing become to a bank’s strategy since COVID? BAZIH: COVID brought significant changes to banks, many of which will remain relevant for the long term. Digital marketing strategies—like content marketing, search engine optimization, email marketing, and social media engagement—are becoming more targeted, scalable, and, in many ways, more powerful. Digital marketing also funnels into digital banking, which was becoming more popular long before COVID. Today, banks must prioritize a seamless digital experience to stay competitive, as the demand for online convenience and personalized digital interactions continues to grow. Meeting customers where they are—on their devices and in their everyday lives—is essential for sustained success. WHITE WHALE SOLUTIONS: Since COVID, digital marketing has become a cornerstone of banking strategies. An integrated cross-channel approach is vital, ensuring that digital channels complement traditional ones. Banks must engage their target audiences where they spend a lot of their time—online. This includes social media, email, online banking portals, and mobile apps. Digital marketing allows for precise targeting, personalized messaging, and realtime data analysis. It’s essential to tailor digital strategies to demographic and psychographic insights to maximize effectiveness. Q: To that point, how should banks stay on top of marketing trends and make decisions that benefit their customers? BAZIH: It’s all about data. Banks should invest in gathering, organizing, and analyzing data. Understanding customer behavior through data allows you to anticipate customers’ needs and tailor your strategies accordingly. That includes keeping an ear to the ground on what customers are saying across social media and other platforms, so you can spot emerging trends and consumer preferences in real time. Adopting a customer-centric approach is key. This means putting the customer at the heart of every decision, from product development to marketing campaigns. It also requires being adaptable—continuously testing, refining, and optimizing strategies to ensure they remain effective and relevant as trends evolve. Staying proactive in this way ensures that your bank not only meets customer expectations but exceeds them. WHITE WHALE SOLUTIONS: Attend industry conferences: These events offer valuable insights into emerging trends, networking opportunities, and case studies from peers. Lean on your vendors/partners: Partners often have access to cutting-edge tools and industry expertise. Collaborating with them can provide strategic advantages. Sign up for Google alerts: Staying updated with the latest news and developments in the banking sector through alerts helps banks react swiftly to changes. Follow industry news publications via newsletters and social media: Regularly consuming content from reputable sources ensures banks stay informed about market shifts, regulatory changes, and innovative practices. Q: Are there new tools and technologies that bank marketers should be looking at if they’re not already? BAZIH: Absolutely. You can probably guess the two letters: AI. In particular, the analytics available from artificial intelligence can help banks sort through vast amounts of data, providing insights that can drive more effective marketing strategies. Customer data platforms (CDPs) are another powerful tool, enabling banks to unify customer data from various sources to create a more cohesive and personalized marketing approach. Personalized marketing automation tools are becoming essential as well. These tools allow banks to deliver targeted messages at scale, ensuring that each customer receives relevant content based on their behavior and preferences. Additionally, chatbots are increasingly popular for enhancing customer engagement by providing real-time assistance and support. Finally, blockchain technology is something to watch, particularly for its potential to ensure secure and transparent transactions, which is increasingly important as digital banking continues to grow. WHITE WHALE SOLUTIONS: Banks should explore tools and technologies that enhance customer experience and improve marketing efficiency. These include: Customer Relationship Management (CRM) systems: To manage and analyze customer interactions and data. Marketing automation platforms: For streamlining and optimizing marketing efforts. Data analytics tools: To gain insights into customer behavior and campaign performance. Artificial Intelligence (AI) and machine learning: For personalized marketing and predictive analysis. Chatbots and virtual assistants: To enhance customer service and engagement. Q: What should banks be doing to maintain and strengthen their brand image in the community through marketing campaigns? BAZIH: Brand image grows not just from consistent marketing, but with genuine community engagement. At Spencer, we’ve always prioritized participating in local events, supporting meaningful causes, and being an active, positive presence in the communities we serve. Highlighting your bank’s support for local initiatives in your marketing campaigns reinforces your commitment to your communities and helps build trust and loyalty. Once again, it all ties back to delivering personalized customer experiences. When customers feel understood and valued, their connection to your brand deepens. That connection opens up more opportunities for your bank to grow. WHITE WHALE SOLUTIONS: Target your marketing campaign appropriately: Ensure content resonates with the target audience’s lifestyle and needs. Personalized and relevant content fosters stronger connections and brand loyalty. Listen to your customers: Engage with customers through surveys, feedback forms, and social media interactions. Use their input to create content and services that address their needs and preferences, reinforcing the bank’s commitment to customer satisfaction. Education: Customer education is crucial for empowering informed financial decisions, which in turn builds trust and long-term loyalty. By connecting product needs with process steps—such as explaining to young home buyers the significance of interest rates and how to manage them effectively—we not only enhance their understanding but also position the bank as a valuable partner in their financial journey. Educated customers are more likely to engage with the bank’s products and services in a way that benefits both their financial health and the bank’s business goals Community involvement: Participate in local events, sponsorships, and charitable activities. Demonstrating a commitment to the community enhances the bank’s reputation and builds trust. Consistent branding: Maintain a cohesive brand image across all channels and touchpoints. Consistency in messaging, visuals, and tone strengthens brand recognition and reliability. 27 in the spotlight: MARKETING Committee
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