For years, online and mobile banking trends have pushed financial institutions to re-evaluate the strategic role (and business arguments) of their brick and mortar locations. As a result, the configuration of branches for any given brand is always in flux, and it’s not uncommon for banks and credit unions to be in a constant state of opening new branches, relocating branches or renovating existing ones. These activities represent incredible opportunities not only to evolve the brand’s physical footprint but also to grab market share from competitors. This is especially true in densely trafficked and populated urban markets.
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The first and perhaps biggest opportunity to grow market share with these new, relocated or renovated branches is through “grand openings.” A new guide* from Media Logic presents a strategic approach to turning bank branch grand opening celebrations into well-thought-out campaigns designed for acquiring new customers – and creating buzz – in the urban market.
* Imagery sourced from Mintel Comperemedia, September 2018Tags: bank marketing, branch banking, credit union marketing, financial services marketing, marketing strategy