Research shows that Millennials have a desire to save. The Citizens Bank has innovative savings accounts that make it easier for people to save, including Millennials. In addition, bank regulators are encouraging financial institutions to promote saving money.
To reach customers where they spend the majority of their time, we developed a digital strategy utilizing Facebook and Instagram. Since we had the ability to reach over a half a million people on these social channels within the Citizens branch footprint, focusing our efforts there made sense. The theme we created for the campaign was: #SavingsRevolution. We launched the campaign January 1, 2017 with a Magic of Savings $2,500 Disney Gift Card Giveaway and drove people to a #SavingsRevolution landing page. The promotion was rounded out with in branch collateral materials.
In one month, we increased the number of Facebook fans from 6,500 to almost 11,000. Savings account openings are up, and as a part of the campaign, we shared Savings Tips from employees who also had a chance to win prizes. The #SavingsRevolution and Magic of Savings promotions were successful in reaching current customers and social fans while increasing savings accounts and new online traffic and prospects.
“IF YOU BUILD YOUR BANK’S FUTURE ON THE IDEA THAT DIGITAL BANKING WILL SOLVE EVERYTHING, YOU ARE LOOKING IN THE WRONG DIRECTION.”
Banks today are often tempted to think of themselves as technology companies, according to The American Banker. They would be better off thinking of themselves as providers of financial wellbeing, and working from there to figure out how digital offerings can support that mission. Instead of asking how you can digitize banking, you should ask how your bank can be relevant to the everyday life of your customers.
If so, why don’t you get in touch with us so we can talk about your projects.