The attention of customers is divided each day as they go on social media, check emails and find other ways to consume different media. Cross-media marketing takes all of these various marketing methods into account when designing a good media mix to target and connect with customers that banks want to reach. The various channels of communication are combined to find the most effective balance to reach the customer. In many ways, the media mix is designed so it seems like the bank is everywhere at once. The more places that customers see the marketing message for the bank, the more likely they are to engage with the bank thanks to the unified marketing campaign.
Media Mix For Financial Institutions Targets Your Audience
The media mix in cross-media marketing targets the audience of your financial institution with these components:
- Email marketing combines a low cost with unlimited targeting options to reach customers. In addition, banks can increase their email response rate with generic or personalized urls that create a call to action.
- A recent report shows that 76% of consumers trust direct mail when making a purchase decision. Variable data printing allows banks to personalize their direct mail pieces with different graphics, fonts and colors that grow the direct mail response rate.
- Cross-media marketing efforts can include a variable data map that allows us to map the address of the recipients to their nearest bank branch.
- Consumers spend about a third of their time on social media. Banks can capitalize on the power of social media to effectively target different demographics and create multiple customer lists.
- It’s been reported that 97% of all text messages are opened within three minutes. Banks can use text messaging for instant and effective ongoing customer outreach.
Drip Marketing Campaigns For Banks & Financial Institutions
Drip marketing campaigns for banks and financial institutions are conducted using a series of emails that are sent out on a schedule. Drip marketing campaign emails can be created in advance and then sent out on a schedule determined by the bank. Before starting the drip marketing campaign, it is important to set realistic goals that can be achieved with cross-media marketing. Create content using a media mix that can achieve the desired goals using a call to action in the emails. Banks should be prepared to make necessary changes along the way depending on the rate of response and other key performance indicators.
Put cross-media marketing to work for your bank or financial institution by contacting our expert marketing team today.
Contact Us Now for More Information