Today’s technology helps us address our goals of working smarter, faster and better. But even with the latest innovations, are there activities that Marketing continues to spend too much time on? And are these activities getting in the way of Marketing’s ability to contribute strategically to the organization?
Marketing organizations at many financial institutions continue to struggle to participate in—and influence—the strategic decision-making processes in their organizations. This is a recurring theme in our discussions with clients, which is why we often examine it on this blog (see Bank Marketing’s Strategic Impact and Future Ready Bank Marketing).
At Vya, we’ve seen how marketing can contribute to a bank’s strategic success. Marketing bridges a bank’s strategic direction and daily execution, with a keen understanding of what matters to today’s banking customers.
Planning for long-term success while addressing short-term goals isn’t easy for a bank marketing organization. It can feel like a tug-of-war between two opposing forces. A Deloitte Insights post about The Future-Ready CMO put it this way: “Effective marketing leaders often live in two realms—the present and the possible.”
I recently returned from the 2018 Franchise Consumer Marketing Conference, in Atlanta, and as with past FCMC events, it was a great place for picking up fresh ideas and insights from some of franchising’s most innovative and successful marketing pros and practitioners.
In marketing, there may be no better resource for keeping pace with change, innovation and best practices than our marketing peers. The insights of those who have “been there, done that,” provide valuable input for finetuning our own marketing strategies and tactics.
Mar 01, 2018
In its 2018 Banking Outlook report, Deloitte’s Center for Financial Services talks about the multiple challenges banks face as they aim to transform into “more strategically focused, technologically modern and operationally agile institutions.” Among the challenges Deloitte identifies are: complex and diverging regulations, legacy systems, disruptive models and technologies, new competitors, and an often-restive customer base with ever-higher expectations.
Dec 22, 2015
Last week, we took a moment to look back at 2015’s biggest marketing trends. This week, we’re looking forward to the marketing innovations in store for 2016.
Dec 17, 2015
Taking a look back at some of 2015’s biggest marketing trends can be a great way to review the year, and think toward 2016 marketing strategy – if you haven’t already done so.
Oct 09, 2014
On the children’s live-action adventure show Captain Midnight, members of the Secret Squadron used special decoder rings to decipher messages that no one else could understand. The secret decoding power provided a competitive advantage that allowed the Secret Squadron to win.
Wouldn’t it be great if you could slip on a special marketing decoder ring to decipher your prospects? Imagine the advantage of knowing the secret communication channel and message to most efficiently and effectively win the sale. Marketing case studies would be written and awards presented as victory over your competition would be certain. The challenge is that consumer’s aren’t predictable, linear, rational or sequential beings. In other words, good luck decoding your shopper. That’s not to suggest you should ignore consumer behavior or the buying process though. Because when you do crack the code by engaging your customers through the right touch point with relevant and timely information, you build consumer trust and improve their buying experience.
May 01, 2014
“Where all the solutions are best-in-class, the ROI is proven, and customers are engaged.”
Sounds great, doesn’t it? If you are a fan of Garrison Keillor who reports the news from Lake Wobegon – a fictional town in Minnesota – on the radio show “A Prairie Home Companion,” you probably recognized my spin on his tag line; “Reporting from Lake Wobegon, where all the women are strong, all the men are good-looking, and all the children are above average.” It’s a fun show, and I’m sure you would enjoy listening.