What Was the Name of that Bank Again?

1. Dr. Walter Guarino, Practicomm LLC October 3, 2013 What Was the Name of that Bank Again?

2. Agenda • The Need for Emotional Branding • Social Media Tools • Evaluation Metrics • Local • Q & A

3. Note

4. Why People Don’t Remember • Most bank advertising looks alike. • Being different by itself does not work. • Most banks do not hire branding professionals. • Most banks fear compliance issues when it comes to advertising, so they play it “safe”. • Most banks do not do “communications research”. • The ones that do that kind of research do it once or twice, and do not “track” it over time.

5. Problems Develop • New Services and Products don’t “get off the ground”. • Old customers often get lured away. • They are not easily being replaced by new customers. • Hardly any Word-of-Mouth exists. • People are allowed to define the bank in their own terms and in their own way.

6. Problems Develop (cont.) • It gets harder for small banks to compete. • Advertising budgets are one of the first things to be cut when business is down. • Investor relations suffer. • Crisis management plans are “all PR”.

7. A Whole New Issue • The issue is not whether Marketing and Advertising across the board is too big or too small, but: • DOES IT WORK AT ALL?

8. New Ways to “Sell” Are Developed on an Ad Hoc basis.

9. What Has The Industry Done? • The banking industry started to turn to NEW MEDIA to try to solve the problem. • They were partially correct in doing so, especially with regard to Social Media. • But a new way of thinking was really what was needed! • And, we’ve become focused on the “new” and the “future”

10. The Fact Everything old is new again! • It’s “Back to Basics 1.0” • And what could be more basic than your brand? • You must ask yourself one question to begin to solve your marketing problems.

11. The Question How is my brand being affected by current economic conditions ? Once you ask, the next question is “What are you doing about it?”

12. What Is A Brand? It’s nothing more than a collection of thoughts and feelings a person will have upon seeing your brand or an icon representing it.

13. Four Reactions There are four basic reactions a person can have when exposed to your brand:

14. Great company. Well-established. POSITIVE

15. Old-fashioned…not able to deal with current problems. NEGATIVE

16. Not sure…Heard many different things about them. NEUTRAL

17. ? ? ? ? NO REACTION

18. Attitude Match? Brand Positioning Once a product is created to meet the needs, • Market an attitude to meet the needs. Target Market Needs Needs Your product

19. Brand Attitude • Your brand may not convey an attitude that matches the need that your product or service was developed to fulfill. • Your brand image may not effectively relate to the target’s self-concept.

20. Branding Success To succeed in branding, you must understand the needs and wants of your customers and prospects. You do this by integrating your brand strategies throughout your company at every point of public contact.

21. Attitude match? Self-Concept& Brand Image Product Brand Image Satisfaction Purchase contributes to desired self-concept Behavior Seek products and brands that improve/maintain self-concept Relationship Between self-concept and brand image Consumer Self-concept Reinforces self-concept

22. Define Your Competition “The nation’s leading financial institution and home for all your personal financial needs” “Buying Countrywide and Merrill Lynch will make the bank more diversified and competitive.” (

23. Social Media Marketing

24. The Tools • Don’t use popular tools like Facebook, LinkedIn, YouTube, Pinterest, Twitter, Instagram, et al. without a “social media marketing plan”. • Use tools that give you SEO and drive traffic to your website. • Revisit your website to make sure it “sells”. • Make sure you maintain brand positioning and use brand guidelines throughout all social media.

25. The Tools • Become creative when using tools that aren’t necessarily in the “mainstream”, such as A Greater Town, Duda Mobile, Slideshare.net. • Use tools that give you SEO and drive traffic to your website; e.g. a blog. • See what your competition is doing online before you finalize your plan. • Make sure you use tools that have metrics.

26. Metrics & Evaluation Alerts Analytics Places

27. Google • Create Alerts with online PR releases, blogs, crosslinks in social media, etc. • Analytics tell you demos of visits, number of visitors, geographic data, average time spent per page, bounce rate, unique visits, search engine usage, cost-per-click, CPMs, etc. • Google Places is a quick way to create your listing, and is free. Places can be visited at any time to edit your information or to see how many people have clicked on your listing.

28. Facebook • Facebook Ads give you the power to drill down into your target group in many ways and they are inexpensive. Data includes number of impressions each ad gets and cost per thousands, and more. • Facebook Posts create Google Alerts and can be multi-purposed. • Facebook Friends allows you to expand your audience among a large numer of users who have relatively the same demographics and interests as your Fans.

29. Competitve Data • Mention.com is basically a free listening post that operates close to real time. • Web.Urlgive you estimated visitor data to your competitors’ websites in addition to the estimated “value” of those sites. • Website tools allow you to look at competitive megatags used on their sites.

30. Near-user Marketing® Providing Near-user Marketing® to Smart Businesses with Local Targets

31. Near-user Marketing® Number of Exposure Needed to Reach Tipping Point of Influence Pre-Internet 5.2 Today 10.4

32. Near-user Marketing®

33. User Controlled Company/Brand Controlled

34. People Search Locally

35. Strategy #1 Banks haven’t gone after local search optimization aggressively. The ANSWER? Leverage Local Search

36. Locally Targeting in Paid Placement (PPC) The “Map Pack”

37. Local Organic Result Directory

38. Strategy #2 Dominate Local Mobile Search

39. 90% Drop in Click-Through • 1stPlace • 90% Less • 4thPlace

40. Mobile Search = Action! There’s a direct correlation between mobile visits to your (mobile friendly) website and action:

41. Local Paid Google Adwords

42. Map Pack

43. Local Reviews

44. World Wide Web Local Web

45. Brand Monitoring

46. Brand Monitoring • Why don’t banks “monitor” their brand(s)? • They take them for granted after a while. • They don’t know how to do it. • They don’t think it’s important. • They think it’s expensive & too much work. • They think they can change the bank’s image without dealing with the brand.

47. Why You Should Monitor Your Brand • Your brand unites your entire organization around a unique, powerful promise, which charts a course for greater awareness, increased recognition and a competitive edge that positions you for change and growth. • What you lose sight of, however, is that all messages have to be aligned with the brand or they won’t work.

48. Why You Should Monitor Your Brand • If you do not monitor your brand by tracking either on a qualitative or quantitative basis, chances are good that your brand will be tarnished over time.

49. Summary

50. Summary • Know your brand…today • Know your targets’ needs • Match your brand attitude with target’s needs • Know your brand/product profile • Use social media the “right way” • GO “local” • Monitor and measure your brand