Brands on Instagram face a pretty big challenge: how to create content that achieves the level of authenticity platform users expect. One approach is to leverage the audiences of popular content creators, as in these recent posts published in partnership with top FIs, including Amex, Bank of America, Capital One, Chase, U.S. Bank and Visa.
Banks spent many years supporting development of Zelle but only recently began a major push to integrate and promote it.
Financial education efforts not only benefit consumers, but they also make strategic marketing sense. See what top brands are doing on a scale from low-key (conversation) to rally towel (“concert” tour)!
We looked at social media profiles of some top banks to see what brand followers find most engaging. Hopefully, seeing what they’re doing will help you identify your own brand’s sweet spot.
In a report to stockholders, Bank of America's CEO pledged that Bank of America would continue to drive responsible growth by making smart decisions based on customer needs and attitudes. And the bank is already delivering on this customer-centric focus in a number of tangible ways.
Super Bowl ads tend to be epic or wacky. These days, consumers may not want their financial companies to be either. Epic can be an overpromise, and wacky can come across as flip. For an industry still taking heat for the Great Recession, finding the balance of “play it safe” while still being memorable is key.
Two financial institutions have increased their focus on social media and have elevated the visibility of their activity on social channels, and both plan to work on social predominantly out of Charlotte – which could soon lay claim as “the big bank epicenter for social activities.”
More and more, we see bank branches becoming a mix of environments: high touch for affluent where personal interaction is protected, and low touch – via technology – for mass market consumers. Banks are also reducing real estate and staffing costs as they move to branch models that encompass a strategic mix of venues. Here’s a quick look at why change is happening... and how that change is apparent right now.
Bank of America recently launched the Better Balance Rewards card. The new product replaces traditional points or cash back rewards by giving customers $25 every quarter ($100 per year) if they pay more than their minimum balance on time, every month. We find this interesting for a number of reasons.
Prepaid cards have long been the product of choice for the unbanked and underbanked. The low barrier to entry has made them ideal for this segment – consumers just pick them up off a shelf, load them with cash and use them like debit cards. GPR cards, once the domain of display racks at retail and check cashing stores, seem to be moving into the mainstream of the financial service industry.