Matt Woods By Matt Woods • November 13, 2017

Eight Surprising Marketing Statistics Every Bank Should Keep in Mind

Doesn’t it feel like online marketing is racing a thousand miles a minute?

Even savvy marketing teams can struggle keeping up with the breakneck pace of new platforms, strategies and evolving user behavior.

Successful leaders help their teams see through the hype by focusing on relevant trends that create a remarkable experience for their best customers.

That’s why I’m sharing a hand-picked selection of the eight marketing statistics banking professionals should consider to stay top-of-mind for consumers who turn to digital channels first.

Quick note: I wrote this post for professionals in the banking industry — but these big shifts affect how marketing, sales, and customer service should work in ALL industries!

#1. Speed matters!

When it comes to best-in-class service online, potential customers expect answers in minutes — not hours or days. Research shows that when a team member responds to a new contact generated by a form on your website within five minutes, you’re nine times more likely to convert them into a customer.

#2. Take a long-term view toward reaching your future customers.

A report by Gleanster Research discovered one in every two leads — contacts who likely have reason to need your company’s service — are qualified but not yet ready to buy.

Serving up practical financial advice and customer success stories through key website pages, videos and even online advertisements can keep your brand relevant over weeks and months of an individual's decision-making process.

#3. Don’t forget to say “Thank you.”

It may come as a surprise, but email subject lines that include the words “thank you” have been shown to reach the highest above-average engagement levels in certain companies.

Want to build trust with your community and win lifelong fans? Seize every opportunity to show gratitude and use personable language to celebrate current and future customers through email, video and social channels.

#4. Facebook: It’s not just for teenagers anymore.

Roughly 8-in-10 adult internet users in the U.S. use Facebook according to a 2016 report by Pew Research Center. Even more interesting, it’s not just middle-aged adults signing-up for social media accounts. More than 60% of online adults over age 65 reported using Facebook as well.

#5. Social media users don’t only value family updates and pet photos.

The same Pew Research report uncovered that 62% of social media users regard platforms like Facebook and Twitter as a source for news about events and issues beyond the scope of family and friends.

#6. Invest in visual content to help complex ideas stick.

Research from LifeLearn has shown when people hear information, they’re only likely to recall about 10% of the original content three days later. However, when a relevant image was paired with the same information, people retained 65% of the information after three days.

Avoid losing online audiences’ fragile attention spans by illustrating detailed concepts rather than simply describing.

#7. Link online activities to revenue through key metrics.

A recent survey by marketing software giant HubSpot revealed 72% of companies that weren’t exceeding their revenue goals didn't know key marketing metrics such as the number of visitors to their website or how many contacts were created from online activities.

#8. Maximize your marketing budget through seamless follow-up.

For every $92 spent acquiring customers, only $1 is spent actually converting them. Reaching strangers can stretch into an expensive, exhausting and time-consuming process.

Start with consistent online and offline follow-up to your most loyal fans, customers and partners to stretch your dollars further. Even simple systems such as a sequence of automatic emails to welcome and educate new customers can nurture apathetic new email contacts into raving lifelong fans.