What is a peanut butter sandwich without jelly? It’s okay but the Welch’s makes a big difference. How about a pizza without mozzarella? It holds the toppings but something is definitely missing. Wine without the cheese? Drinkable, no doubt, but ho hum, not exceptional.
It works the same with your community bank or credit union and digital marketing.
Eighteen months ago, marketers surveyed around the world rated their organizations’ digital capabilities at an average score of just 57*. Guess what? That score hasn’t improved in the last year and a half. In this case, what is missing is a digital presence.
What’s the biggest pain point causing this lag?
Mobile advertising in the user experience is one of the big challenges with smartphones. Owners complain of ad clutter and interruptive ads. Just over 70% of CMOs identify strategic thinking as their greatest strength as a leader. Only 17% feel the same way about digital marketing. Even fewer (a mere 14%) share that confidence with regards to data analytics and insights.*
It makes sense. We’re so task saturated, plus the digital world changes so rapidly it’s difficult to think strategically as well as keep up with the latest and greatest in digital marketing tools. In fact, six in ten marketing leaders don’t think their teams have the skills needed to manage the increasing demands placed on the marketing function today.
Essentially, there are two choices: 1) bury your head and pray you can keep up or 2) take a look at your budget to find the resources to allocate funds to hire the skills needed or outsource to someone who can take the job of creating a trend off your plate.
Digital marketing—including social media—is the skill the largest percentage of marketing executives believe is most important to their marketing team’s success today. Yet it’s the least funded part of the marketing budget in the majority of community banks and credit unions.
Do you wonder where to start when you want to get ahead? We’ve spent the last few years investing in cutting edge resources. We have hired great talent in digital marketing that most financial institutions could not afford to hire themselves. We offer strategic knowledge and expertise to progressive financial institutions. Being small doesn’t mean you can’t beat your larger competitors. Chances are they’re in the same boat as you. So, spread extra jelly on your PB&J. Add double cheese to your pizza. Enjoy Havarti and gouda with your Chardonnay. We can help you move from common to extraordinary. Shoot me an email to let me connect you with our digital marketing experts!
*Researchers surveyed 2,200 marketers at 141 advertisers in 41 countries around the globe. Respondents were asked to rate their teams’ capabilities and performance in various skills and channels on a 6-point index, which was then converted to a 100-point index, where 100 equals best practice.