Integrated Marketing I
Integrated Marketing I
The banking industry is undeniably enormous and runs the gamut from massive international corporations to small, boutique private banks and credit unions. Though each bank has a unique audience and set of offerings, the basic products and services between one bank and the next are essentially the same.
In an industry that deals mostly in intangible financial products, it’s difficult to stand out from the competition and provide a banking experience that’s both unique and relevant to the average consumer. Here’s how we helped one banking business set itself apart.
One of the main problems our client faced was the fragmentation of their marketing efforts. They were employing no fewer than six separate agencies to cover public relations, search engine optimization, social media, digital advertising, and other aspects of their public presence. Communication was poor or nonexistent between these agencies, forcing our client to serve as its own intermediary during large rollouts. This process was time-consuming, expensive, and ineffective.
The client also struggled with weak brand identity — materials, messaging, creative, and overall marketing efforts were inconsistent across the organization. This extended to a different version of the company’s logo being used across channels, making it nearly impossible for the company to build brand recognition through repeat impressions.
The client’s digital presence was underutilized and antiquated, from a complete lack of presence on social media to inaccurate and outdated information on listings.
Finally, there was very little alignment between marketing and the sales and service departments leading to low customer acquisition rates, high customer turn-over, and a poor customer experience. The result of these factors was astronomical cost-per-acquisition and low ROI.
Our first step was to unify all of the client’s marketing efforts under one roof. As a full-service agency, we’re able to offer a complete suite of services, including strategy, research, brand development, integrated marketing, advertising, and website development.
We started by refining and realigning the brand identity to better fit the goals of the company and the buyer persona that the client wanted to target. With a new brand identity, we could implement brand standardization across every facet of the organization — the logo, fonts, graphics, voice, tone, and messaging were now consistent at every touchpoint.
We rebuilt the client’s website from the ground up on growth-driven design (GDD) principles — prioritizing the rapid launch of a better website. Over time, as we gather data about browsing patterns and usage, we’ve refined the user experience, expanded the capabilities and features of the website, and optimized for traffic as well as conversions.
Taking the organizational goals into account, we were able to launch comprehensive campaigns across all channels, both traditional and digital, and build a strong brand identity. One specific initiative projected a unified brand and messaging through digital and analog radio, social media, TV, OTT/ CTV, YouTube, display ads, search, remarketing, and print.
Finally, we implemented new alignment policies across marketing, sales, and service departments to ensure clear communication and seamless handoffs between teams. Expectations are clearly communicated, strategies are built in a collaborative setting, and reporting is shared company-wide.
Once the client’s goals, brand, foundation, and strategy were unified and consistent, the results were immediate and significant.
Over the course of our first year working with the client, we saw a 285% increase in website visits, accompanied by a 489% increase in website conversion rate. Thanks to more consistent branding, the client’s NPS score went up by 113% quarter-over-quarter, and the company’s Q Score for brand perception improved by 146%.
With an improved approach to sales and marketing alignment, the handoff from marketing to sales improved dramatically. Lead call volume increased by a staggering 1277% year-over-year, with an accompanying increase in sales-qualified leads of 91%.
As a result of our unification and streamlining efforts, the company’s previously unsustainable cost-per-acquisition is down 72%, resulting in a significant boost in overall ROI.
This client’s success is not an aberration but a demonstration of the effectiveness of a unified, integrated marketing strategy — and a warning about the inefficiencies of a piecemeal approach. By sticking to a data-oriented strategy, a centralized sales and marketing method, and a consistent brand presentation, our banking client has been able to enjoy sustained success in an increasingly competitive digital world.
Your company’s marketing should be the secret sauce, ever elusive unicorn, and magic bullet that your company has been waiting for. Bottom line, it should be bringing you that money.