A report from the CMO Council found that just 19 percent of banks believe they are effectively using web marketing campaigns. The study, relayed by BtoBMarketing.com, suggests that banks will be more aggressive in launching new media marketing initiatives, but many struggle to put these plans into place.
Eighty-two percent of these banks said they expect their company to leverage new channels for the delivery of content marketing material. Among the tools used by these businesses are social media, search and others that have rose to higher prominence in recent years. Aside from the general popularity of these channels attracting marketers, they’re substantially cheaper than older methods.
According to the report, 49 percent of marketers have a strategy for the implementation of new media marketing moving forward. In general, banks fail to inform potential customers and account holders of various plans and other services they offer. With the growth of web, consumers and businesses are learning of new options to manage their money, and failing to nurture a presence on the web can make it even more difficult to compete with other companies.
B2B banks may want to be especially aggressive with social media marketing, as Brafton recently reported that 89 percent of B2B companies use social. For banks, it’s critical that they target their desired audiences.