Three tips for delivering relevant, compliant local marketing materials

May 22, 2015

Kandi O'Connor
LinkedIn


ThinkstockPhotos-488689611For financial institutions, local marketing can be tricky. Far too often, branches left to their own devices create and share marketing materials based on consumer feedback or needs. While local relevancy is important to drive sales, these materials are often not effective, lack brand consistency and miss cross-sell opportunities.

Even more importantly, locally developed marketing materials may violate compliance or regulatory requirements like RESPA8, NMLS and other critical regulations, putting your company at risk.

A marketing resource management (MRM) system can help stop compliance issues, and make it easy for local branches to quickly customize compelling materials that resonate with local markets.

Here are three key tips we’ve found that routinely help banks deliver compelling and compliant marketing materials:

1) Develop an electronic approval process to help reduce compliance risks.

MRM systems streamline and automate the approval process, so marketing and legal departments can quickly and easily review, approve or request changes for any materials created in the portal. Not only does this provide an electronic paper trial to use in case of an audit, it simplifies the approval process by keeping close track of materials in one location.

2) Offer easy-to-use, customizable templates that empower branches and drive sales.

Templates, including brochures, posters, postcards and more, can make it easy for branches to stay on message while reducing compliance risk. Sales contacts can customize specific areas such as contact information, demographics, life stage and more. Once local sales teams customize their templates, materials are sent to marketing and legal for review and approval.

3) Comprehensive support and training are key to ensuring compliance.

Chances are, local branches aren’t creating materials because they don’t care about compliance regulations. They are likely unaware of what is required and what the real impact is for sharing materials that violate compliance or regulatory requirements. Clearly communicate what compliance standards your company is required to meet, and the local and corporate impact of not adhering to those standards.

Also, be sure to clearly spell out what your process is to ensure compliance, and offer the necessary training and support. If you have an MRM system, be sure employees have regular access to support and training they need to understand how to use the system. We’ve found the standard training and resources we offer to all MRM clients encourages user adoption and ensures the local staff in branches use the technology for all its worth to connect with consumers.

The good news is that compliance across regions can be easily managed. An MRM system can help put the necessary parameters in place to ensure marketing materials that reach local consumers are compelling and compliant.

Looking for more information on how our systems and solutions can help manage compliance across multiple regions? Contact us so we can learn more about your unique challenges and needs.

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Tags: financial services, marketing resource management, local branch marketing, legal and regulatory compliance, financial services marketing

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