Tuesday Tips – Five Ways Banks Can Enhance Their Online Marketing

by on Jan 31, 2012

altEvery Tuesday, Corporate Insight releases recommendations to help financial services firms improve a key aspect of the online user experience. Recommendations are taken directly from our Monitor Reports and Consulting Services research, which cover the banking, brokerage, credit card, asset management and insurance industries.

This week’s recommendations come from our Bank Monitor report titled Online Marketing and Promotion: How Firms Advertise Their Offerings and focus on ways banks can improve their online advertising practices:

Use a public site banner ad to grab attention for a top product – Almost every bank researched for this report offers a banner ad on their public site homepage. The best firms offer a banner ad that is eye-catching and helps direct users towards a popular or current feature.

Promote featured products on a dedicated private site page – While many firms offer a private site Promotions or Offers page, the majority use this section to offer a list of possible accounts or to provide only general ads, such as for “checking accounts.” Instead, firms should offer a prominently located tab or sub-tab dedicated to promotional ads for products and services an account holder might not already have.

Avoid making a page so busy that the important promotions are lost – While including graphics, color and banner ads are important ways to both market products and create an engaging page, firms can overdo it. The best firms offer public and private site homepages that promote a few key products or features without creating a jumbled page that is difficult to navigate.

Use the private site logout page as a final marketing location – Currently offered by close to half of the firms tracked for this report, using a logout landing page as a staging area for a final set of promotional ads can help create lasting impressions with existing clients. These finals ads should be direct and include a few details that will help users remember them. Whether promoting mobile account management, discussing a new account, or offering something else, logout page ads can help bolster name recognition for the next time a client visits a site, and can even prompt some users to log back into the site.

Include short descriptions within text or image ads – All image-based ads are not created equal. The best not only promote a given product or feature, but tell clients something about what is being promoted. Ads with explanatory text can catch users’ attention and give them a reason to click on an ad, while those merely with graphics and only a general product description often fall flat. Only a few firms are currently offering ads that consistently provide prospects with more than a simple impression of what a feature or product offers.

For more information on our Monitor or Consulting services, contact Bob Burlin at 212-832-2002 x-115 or rburlin@corporateinsight.com.