BankMarketingCenter

For those of you who may have missed it, the analyst firm Forrester just issued their report on what they believe the coming year holds for banks. Granted, there’s no crystal ball out there and, as we have all seen, experts have been struggling for years with predicting where the economy is headed. So, while I think many predictions should be taken with a grain of salt, I do think that what Forrester believes lies ahead is pretty much on the money (no pun intended). 

Where do we begin? With three US bank failures in the US and the last-minute rescue of a major Swiss bank. That certainly does not bode well for tranquility in the banking sector for the coming year. As usual, an air of uncertainty looms, hinting at potential challenges for banks in retaining deposits as they grapple with sustaining profit margins. The promising, yet uncertain and untested realm of AI technologies adds a layer of complexity; these technologies, according to Forrester, pose as many risks as they do benefits. Regulatory agencies find themselves compelled – by some of the inventors of these AI-powered technology solutions themselves – to take a more active role, especially in the US, where open banking finally garners long-overdue attention.

30% will shift deposits from primary institutions

Forecasts hint at a potential shift as thirty percent of customers consider redirecting their deposits away from their primary banks. An uncertain global economic outlook, combined with persistently high interest rates, continues to exert financial pressure on banking customers in the coming year. Having once reaped the benefits of increased loan interest rates, banks again find themselves now facing heightened scrutiny for not passing on similar benefits to consumers. Anticipating this, regulators are poised to clamp down on unfair savings rates and tighten controls. In response, cash-strapped banking consumers will do what they always do; vote with their feet. Challenger banks will seize the opportunity to attract these disenchanted consumers, capitalizing on the discontent surrounding savings rates. Apple Card’s introduction of a high-yield savings account, for example, successfully drew over $10 billion in deposits by promising a premium experience and cultivating an encompassing digital financial ecosystem for customers.

Technologies come with risk

Open banking, fostering the freer flow of funds, takes center stage in 2024 and prompted by the CFPB’s proposed rule on personal financial data rights, is challenging traditional banking models. Established banks find themselves compelled to reimagine their value propositions, seeking innovative ways to showcase their worth in the evolving landscape, fostering deposits, and nurturing loyalty in a competitive environment. Yet, despite intentions to invest in open banking technology, the majority of US banks falter in delivering consumer-facing solutions. And, it’s no wonder. With its promise comes risk; to financial privacy and the security of consumers' finances, as well as resulting liabilities.  

Furthermore, the fintech and traditional financial sectors pivot towards niche customer segments, striving to differentiate themselves in a saturated market. “While some fintechs collapse or pivot due to challenges in funding, and targeting niche audiences, others discern opportunities in designing inclusive financial products and experiences catering to specific needs or infrequent but impactful customer journeys.”¹ Herein lies a tremendous opportunity for those banks, community banks in particular, that leverage their personalized (yet convenient and expedient) banking offerings, particularly through their online presence.

Within this landscape driven by digital transformation, the risks posed by AI-driven technologies are becoming more apparent (and perhaps exaggerated? No one really knows yet, do they?) every day. While the benefits of generative AI (genAI) are obvious in terms of driving customer experience, risk management, data management and more, without robust controls, it could prove catastrophic, leading to disastrous outcomes for banks. Despite banks’ efforts to pilot and regulate genAI usage, rogue operations might inadvertently breach privacy, copyright, or bias protocols, and regulatory scrutiny to name just a few. Forrester’s security and risk team foresees a rise in data breaches and fines attributable to AI-generated code security flaws, warning banks of potential repercussions if stringent governance is not in place. I agree wholeheartedly. GenAI is, at the moment, a loose cannon not only in terms of its uses, but what regulators will do (or at least try to do) to ensure “fair practices”in banking functions, such as the unbiased review of credit applications, as well as the protection of the customer’s personal data.

In the end, Forrester emphasizes that “failure to act is, unequivocally, a failure itself. That banks must cultivate trust in their technological endeavors, prioritize stakeholder trust, educate staff, uphold privacy principles, and institute appropriate governance to navigate this evolving terrain.”² Easier said than done, I think, but both possible … and necessary.

About Bank Marketing Center 

Here at bankmarketingcenter.com – one of the industry’s most well-regarded providers of professionally-designed marketing materials to local banks – our goal is to help you with that topical, compelling communication with customers that will help you build trust, relationships, and revenue.   

Now, through our partnership with ChatGPT, creating your own custom content is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

^1,2,Forrester. Predictions in Banking: 2024.

This may be a bit of a departure from our usual blogs, where we talk about the marketing challenges (and opportunities) that bank marketers face on a daily basis. But, I couldn’t resist talking about something, well, “slightly different”; especially since just a few weeks ago we talked about the challenges that banks face in recruiting and retaining top talent. 

If you recall, I mentioned a recent American Banker article that focused largely on what banks can do to address their recruitment issues by “working hard at culture” with steps such as “strengthening the relationships between coworkers, giving team members maximum exposure to leadership, enhancing their skills so they feel like they are true experts in their field, and engaging with them on their future goals so they can chart a path forward.”

Even so, it appears, 30% of new hires leave their job at a bank within the first 90 days and retention among non-officers is barely 25%.  So, what, exactly is going on?

Perhaps, this recent Career Builder article sheds some light.  It did for me.  In The new office etiquette: Rules for today's workplace, Career Builder outlines, well, you guessed it; rules for today’s workplace.  And reading through this, for me, was a somewhat frightening look into what today’s employers are facing when recruiting. “Here are some tips, the article says, “you can use to get along well with co-workers and supervisors and advance your career.”

“Stay off social media: People can view your social media posts from years ago, and what's acceptable can change over time. Posts that were perfectly fine when you made them could become offensive later, because of recent current events or changes to laws. It's a good idea to set your social media accounts to private or friends only. That way, an employer won't decide not to hire or promote you because they don't like one of your past social media posts. It's also a good idea to avoid surfing social media, especially while you're at work.”

Here’s a thought. Instead of setting your account to private or friends only, just don’t post anything inflammatory or just plain stupid. And, should you ever be surfing your social media accounts while at work? Answer seems pretty obvious to me; that’s not what you’re getting paid to do, so stay off your personal device.  Keep in mind, too, that if you’re using employer-issued equipment, your employer may very well be monitoring your site visits, screen time, and key strokes. In short, remember that professional and personal lives don’t mix.

“Take phone calls in private; Most people have cell phones, and getting an occasional personal call at work is normal. However, you should avoid taking these calls at your desk and letting others hear your personal business. Instead, take a brief walk outside or go to an empty conference room. That way, you can talk privately without disturbing other people who want to concentrate on their work.”

Here’s a thought.  First, getting personal phone calls at work is not “normal.” Tell your friends not to call you at work. And, by the way, a conference room is not an employee’s own personal phone booth. 

“Don't gossip about others: Gossiping about other people often says more about you than those you discuss. When you speculate about the personal lives of others or spread rumors that may not be true, you show people that you can't be trusted to keep confidence. You could even hurt your chances for a promotion. When others gossip, don't participate.”

Here’s a thought: Talking trash about people is juvenile – and, at the very least, non-productive – whether done personally or professionally. “Hurt your chances for a promotion”? More like, increase your chances of getting terminated.

“Watch your language: Avoid cursing at the office. Also, avoid songs with lots of cursing or graphic language. It's OK to wear headphones to listen to this type of music occasionally, but don't make them a constant fixture on your head. That way, you can respond immediately if someone needs to talk to you or you get a phone call.”

Here’s a thought:  Let me get this straight. First off, do we really need to remind adults (or at least aspiring adults) that they shouldn’t use foul language in the office? Wow. Secondly… if you want to wear headphones, it’s probably a good idea to first get permission from your supervisor.  And if he or she asks why you want to wear them, it’s probably a good idea not to say that you want to listen to songs with graphic language.

“Knock before entering: Whether you're entering a conference room or a co-worker's cubicle, it's polite to knock before you go in. That way, you can avoid interrupting or distracting people.”

Here’s a thought:  I think I read this once in a book titled, “All I really need to know I learned in kindergarten.  Also, don’t forget to flush, and wash your hands when you’re done . For more helpful tips, visit amazon.com where you can buy the book!

“Dress professionally: Even if you're working from home, it's a good idea to dress professionally. That way, you'll be prepared if there's a last-minute virtual meeting. Pajamas might be comfy, but they can look very unprofessional. It can also be pretty embarrassing when you get out of your chair to grab a drink or pet your dog and everyone sees that you're not wearing pants.”

Here’s a thought: Never wear pajamas to work.  Oh, and don’t get up from a video call to pet your dog, either.  PS: Keep a calendar so you know when your meetings are held!

About Bank Marketing Center 

Here at bankmarketingcenter.com – one of the industry’s most well-regarded providers of professionally-designed marketing materials to local banks – our goal is to help you with that topical, compelling communication with customers that will help you build trust, relationships, and revenue.  

Now, through our partnership with ChatGPT, creating your own custom content is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

A week or so ago, we were once again talking about Search Engine Optimization (SEO) and websites. The focus back then was on keywords, a keyword strategy being the quickest, easiest, and probably the most cost-effective means of optimizing your community bank website.

Today, we’re going to talk about another site optimization tactic: backlinking.

So, what are backlinks?  According to Wix.com, “backlinks are the hyperlinks that take users from one web page to another, and they form the strongest referral network in online search.”

As you already know, in today's digital era, a robust online presence is pivotal for any financial institution, especially the community bank. The virtual storefront of a community bank resides within its website—a hub for clients to explore services, gain information, and initiate crucial transactions. 

Okay, so what exactly is a “linking strategy”? At its core, it’s about strategically connecting web pages within your site and, equally importantly, linking to reputable external sources.

Internal linking is akin to creating a roadmap within your bank's website. When structured thoughtfully, it enhances navigation, improves the user experience, and ensures visitors can find the information for which they’re searching … quickly and easily. On the other hand, external linking establishes credibility by connecting users to authoritative industry resources, further validating your bank's expertise and trustworthiness.

4 Backlinking tips

1. Nurture relationships with your industry’s top creators and brands! One of the easiest ways to win links consistently over time is to approach it like a good sales rep. Take a genuine interest in what they do, give more than you take, and even add a personal facet to your rapport. Just be sure not to take liberties with the relationships you cultivate; they can take months to build, but minutes to undo. Avoid, for instance, asking for backlinks too frequently or pitching pages or sites that aren’t mutually relevant.
2. Avoid, too, the temptation to sacrifice quality for quantity. Backlinking to low-quality websites can have an adverse effect on your rankings. Instead, you must pursue high-quality backlinks from other authoritative, high-quality, and relevant mass media publications, industry blogs, industry association websites, such as the American Bankers Association, as well as your state bankers association. You should also look to financially-focused resources like American Banker,  Bloomberg, CNBC, Forbes and the Wall Street Journal.
3. Create newsworthy content. Newsworthy content isn’t just company updates. Farmers Insurance does this in their commercials, re-enacting real scenarios they’ve covered that range from jaw-dropping to funny to heartwarming. The Farmers’ Hall of Claims has generated more than 300 backlinks, for example. Take a leaf out of their book and talk about the real scenarios your bank has encountered, inviting specific customers to be part of the story.
4. Also, keep in mind that too much backlink building is considered spam to search engines. Years ago, marketers took advantage of how easy it was to purchase backlinks for their website and, as a result, search engines have cracked down on spammy backlinks.  

Not all backlinks are created equal

When building a strong backlink profile, the most critical factors are the quality and relevance of referring domains and pages. Relevant backlinks from authoritative sites signal to Google that your page is worthy of attention. You might hear SEO practitioners refer to this associated equity as “link juice.” To get the most benefit from the “link juice” you’ve earned, aim for quality over quantity.

For a community bank, fostering trust is paramount. As a trusted financial entity embedded within a local community, your website serves as a virtual handshake. Implementing a robust linking strategy bolsters this trust factor. When users encounter a well-linked, coherent website, it reflects the bank's commitment to transparency, accessibility, and expertise.

How backlinks add value

Here are just a few of the ways that backlinks add value and why:

• Increased organic traffic: Backlinks remain one of the leading search ranking factors. All other considerations being equal, a page with relevant, authoritative backlinks is more likely to rank on page one of a Google SERP (Search Engine Results Page) for its target queries.

• Increased referral traffic: Links from high-traffic sites and pages tend to increase traffic to your website via clicks from the referring page.

• Credibility with Google: Google assesses a site’s content quality based on signals that indicate E-A-T (Expertise, Authority, and Trustworthiness). Backlinks are a sign that your page knows what it’s talking about and can be trusted.

• Credibility with readers: Pages with links from websites established in their industry are more likely to be convincing and reliable to the people you want to reach.

• Faster indexing time: When you publish a page with internal backlinks from already-indexed pages, Google is faster to discover and crawl the new page.

In conclusion, link building isn’t easy, but it’s one of the most crucial parts of a successful SEO strategy. It takes time. Be patient, cultivate relationships, and avoid low-quality partners.

About Bank Marketing Center 

Here at bankmarketingcenter.com – one of the industry’s most well-regarded providers of professionally-designed marketing materials to local banks – our goal is to help you with that topical, compelling communication with customers that will help you build trust, relationships, and revenue.  

Now, through our partnership with ChatGPT, creating your own custom content is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.
To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

PS: And we practice what we preach. We attribute, at least in part, our high ranking in SERPs to the many links out to reputable sites and publications referenced in our blog, as well as the back links that can be found on the 23 state bankers associations with whom we are partnering.

‘Tis the season! And although, chances are very good that over the years you’ve stepped away from sending out personally signed holiday cards to each of your customers, that doesn’t mean that there’s no longer an opportunity to strengthen those bonds and, perhaps, boost your brand and revenue at the same time.

Of course, the holiday season is an opportune time for your community bank to connect with customers, boost engagement, and reinforce your role as their local financial institution. As we move into the holiday season, it’s crucial that you make effective use of marketing strategies that resonate with your audience and build goodwill. Let’s explore just a few of the types of marketing activities you can and should consider in order to make the most of the holiday season.

1. Personalized Season's Greetings

Community banks thrive on personal connections, and the holiday season is the perfect time to showcase this. Send personalized season's greetings to your customers, acknowledging their loyalty and the community's shared values. Whether through email, physical cards, or even a festive video message, a thoughtful greeting can go a long way in strengthening a customer relationship, whether personal or business.

2. Holiday-Themed Content

Leverage your bank's blog, social media, and website to create holiday-themed content. Offer tips on budgeting for holiday expenses, the advantages of opening a holiday savings account, or even local event guides for the season. Tailoring your content to address the financial concerns and aspirations of your community during the holidays can position your bank as a helpful resource. Check out our portal and explore some of the content developed specifically for the holidays, from email holiday greetings and promotional banners to fun, festive, in-branch messaging.

3. Community Involvement

The holiday season is, as you know, synonymous with community events and charitable activities. Your community bank can showcase your commitment to your neighbors by actively participating in such local holiday events. Sponsor or host events like tree lighting ceremonies, toy drives, or food bank collections. These efforts demonstrate your bank's dedication to the well-being of the community. Create a calendar on your website, for example, that your website visitors can use to plan their activities over the holiday months.

4. Promotional Offers

Consider offering special holiday promotions or discounts on select banking services. These could include reduced fees for account openings, credit card interest rates, or even cashback rewards for holiday shopping. Perhaps a special offer on opening a Christmas Club account as a gift for a child or grandchild. Such promotions go a long way in attracting new customers and enhancing customer loyalty.

5. Your Small Business Customers

Many small businesses require financial assistance leading up to and during the holiday season. As their community bank, you can provide support and financial solutions tailored to small business needs. Highlight your commitment to these very important customers through targeted marketing campaigns that might, for instance, promote funding solutions – along with financial guidance – that will help your small business customers successfully navigate the holidays.

6. Social Media Engagement

Engage with your audience on social media platforms to share holiday messages, financial tips, and promotions. Host holiday-themed contests or giveaways to encourage interaction and increase your online presence. Respond promptly to customer inquiries and comments to reinforce your bank's commitment to customer service.

7. Financial Wellness Resources

Speaking of financial guidance, the holiday spending season can be a dangerous time for some. Promote financial wellness resources and tips on responsible holiday spending, savings, and managing credit card debt. These resources can be in the form of blog posts, downloadable guides, or educational videos. An off-shoot? Host financial workshops that cater to the unique challenges of the holiday season. Topics could include budgeting for gifts and travel, avoiding debt during the holidays, or optimizing credit card rewards for holiday shopping. Providing valuable financial education sets your bank apart as a trusted and concerned advisor.

8. Merchandise Local Relationships

Collaborate with local businesses for joint promotions. Offer discounts to customers who shop at participating local stores or dine at nearby restaurants. Supporting local businesses not only strengthens your community but also builds goodwill with customers.

9. Email Marketing Campaigns

Leverage email marketing to keep customers informed about holiday promotions, events, and tips. Send out regular newsletters with relevant content and offers. Personalize your emails to make customers feel valued and understood.  Need help putting a holiday newsletter together?  Using our new ChatGPT feature, you can create your own custom content … faster and easier than ever before. You’ll never sweat getting a newsletter out on time ever again!

10. Mobile Banking Enhancements

Enhance your mobile banking app with holiday-themed features. You can, for instance – if you haven’t done this already – enable customers to set holiday spending budgets, receive real-time transaction alerts, or access discounts and promotions directly through your app. Emphasize the convenience and security of mobile banking during the busy holiday season.

In conclusion, the holiday season offers community banks a unique opportunity to connect with customers and strengthen their presence in the local community. By implementing these holiday marketing strategies, you’ll not only boost customer engagement but also demonstrate your commitment to supporting the community during this festive time of year. Building positive holiday experiences now will lead to lasting customer relationships and goodwill throughout the year.

About Bank Marketing Center 

Here at bankmarketingcenter.com – one of the industry’s most well-regarded providers of professionally-designed marketing materials to local banks – our goal is to help you with that topical, compelling communication with customers that will help you build trust, relationships, and revenue.  Now, through our partnership with ChatGPT, creating your own custom content is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

Okay, maybe it’s truly not possible to outsmart Google. But, it’s certainly worth a try, isn’t it?

It was back in May when we talked about the importance of Search Engine Optimization (SEO)… “SEO. A cure for the invisible website,” and delved – broadly – into the various optimization tactics that you, as a bank marketer, can utilize to make your website more effective, more productive, and yes, more Google friendly.

Without a doubt, SEO remains a cornerstone of digital marketing and online visibility; a series of strategies and practices aimed at optimizing web content for both users and search engines. As a result, SEO is vital for any enterprise, as it directly impacts their online presence, as well as their ability to both retain and attract potential customers.

As we touched upon back in May, we live in an ever-evolving digital landscape where top search engines like Google and Bing are continuously evaluating and ranking our site content. Your goal as a community bank marketer? Ensure that, in a changing online environment, your bank's content continues to align with what users are searching for and, most importantly, delivers a valuable and relevant experience. When done correctly, SEO can boost your bank's visibility in search engine results, drive more traffic to your website, and ultimately convert visitors into customers, generating revenue for your institution. Remember, your website is not a “set it and forget it” marketing tactic.

Today we’ll take a closer look at an optimization tactic that is, believe it or not, both effective and straightforward to implement: Keywords.

Keywords are Key

For starters, keywords are the foundation of SEO, and one of the most effective strategies for optimizing your site's visibility and search engine ranking. In a nutshell, keywords are those high-volume, high-competition search terms you should aim to utilize in your content, with the goal of enhancing your site’s ranking on SERPs (Search Engine Results Pages). So, how do you get the most mileage possible out of keyword optimization?

Step 1: Keyword Research

The first and most critical step in keyword optimization is keyword research. This process involves identifying the keywords and phrases that your target audience is likely to use when searching for financial services, banking products, or information related to your bank. Proper keyword research provides valuable insights into the language your potential customers use and the topics they are interested in. Here's how to conduct effective keyword research:

Identify Your Target Audience: Understanding your audience is key. Consider the demographics, interests, and needs of your potential customers. What financial services are they looking for, and what questions might they have?

Generate Keyword Ideas: Get your team together and brainstorm the words and phrases potential customers might enter into a search engine to find your bank; the words and phrases that are relevant to your services and the needs of your local audience. For instance, if your bank is located in Harrisburg, PA, and offers various types of loans, consider keywords such as "loans Harrisburg" or more specific “long-tail” keywords like "pre-approved auto loans Harrisburg." Incorporate these keywords into your website's content to improve its relevance and visibility. Avoid keyword stuffing – the excessive use of a keyword or keyword phrase – as search engine algorithms can detect excessive keyword usage and penalize your site.

Use Keyword Research Tools: There are various keyword research tools available, such as Google Keyword Planner, SEMrush, and Ahrefs. These tools can provide data on keyword search volume, competition, and related terms.

Analyze Competitor Keywords: Examine the keywords that your competitors are targeting. This can offer insights into successful keyword strategies in your industry.

Prioritize Keywords: Once you've gathered a list of potential keywords, prioritize them based on search volume, competition, and relevance to your bank's services using some of the aforementioned research tools. Focus on keywords that strike a balance between search volume and competition.

Step 2: On-Page Keyword Optimization

Once you've identified the most relevant and valuable keywords for your bank's website, it's time to optimize your site's content. On-page keyword optimization involves incorporating these keywords into various elements of your site pages to improve their ranking on SERPs. Here are key areas to focus on:

Title Tags: Title tags are the clickable headlines that appear in search engine results. Include your target keywords in these tags to signal their relevance to search engines and users.

Meta Descriptions: Meta descriptions provide a brief summary of your web pages in search results. While not a direct ranking factor, a compelling meta description with relevant keywords can attract clicks and boost your click-through rate.

Header Tags: Use header tags (H1, H2, H3, etc.) to structure your content. Incorporate keywords into headings to make your content more accessible and SEO-friendly.

Content: Create high-quality, informative, and engaging content that incorporates your target keywords naturally. Do this on a regular basis and remember to avoid keyword stuffing, which can harm your SEO efforts. Instead, focus on providing value to your audience.

URLs: Customize URLs to include relevant keywords. For example, if you have a page about personal loans, the URL could be structured as "www.yourbank.com/personal-loans."

Image Alt Text: Alt text helps visually impaired people understand what the image shows, helps search engine bots understand image contents, and appears on a page when the image fails to load. When using images on your website, include descriptive alt text that contains keywords. This helps search engines understand the content of the images.

Step 3: Content Creation and Optimization

Content is a critical component of your website's SEO strategy. It's where keywords truly provide value to your audience. Here's how to create and optimize content effectively:

High-Quality Content: Focus on creating informative, well-researched, and engaging content that addresses the financial needs and questions of your local community. 

Regular Updates: Fresh content signals to search engines that your website is active and relevant. Update your blog, news section, or other content areas with new information and insights on a regular basis.

User Experience: Avoid large blocks of text. Use subheadings, bullet points, and images to improve your user’s experience.

Step 4: Local SEO and Location-Based Keywords

For community banks and smaller financial institutions, local SEO is vital. Optimize your website for location-based keywords to connect with local customers. Here's how:

Google My Business: Claim and optimize your Google My Business listing, ensuring that your bank's information is accurate and up-to-date.

Local Keywords and Content: Again, as a community bank, it’s important to Incorporate location-specific keywords, such as "bank in [your city]" or "credit union near [your location]." Create content that is relevant to your neighbors, such as articles about financial trends, tools, education, as well as community events.

Customer Reviews: Encourage satisfied customers to leave positive reviews on Google and other review platforms. Positive reviews can boost your local SEO.

Step 5: Monitoring and Analytics

Keyword optimization is an ongoing process. To ensure that your bank's site continues to perform well, regularly monitor your keyword rankings and website analytics. Tools like Google Analytics and Search Console can provide valuable data on your website's performance, keyword rankings, and user behavior. Use this data to make informed adjustments to your SEO strategy.

Step 6: Mobile Optimization

In an increasingly mobile-centric world, it's crucial to ensure that your website is mobile-friendly. Mobile optimization not only enhances the user experience but also aligns with search engine preferences. Google, for example, prioritizes mobile-friendly websites in its search results. Make sure your website is responsive and loads quickly on mobile devices.

What next?

Keyword optimization is a fundamental aspect of SEO that can significantly enhance your bank's online presence and attract potential customers. By conducting thorough keyword research, implementing on-page optimization techniques, creating high-quality content, and focusing on local SEO, you can position your bank for success. Regular monitoring and mobile optimization will ensure that your website remains relevant to your local audience, competitive and continues to rank well in SERPs. Embracing these practices will help your bank thrive in our online age, and connect with customers seeking your products and services.

About Bank Marketing Center 

Here at bankmarketingcenter.com – one of the industry’s most well-regarded providers of professionally-designed marketing materials to local banks – our goal is to help you with that topical, compelling communication with customers that will help you build trust, relationships, and revenue.  Now, through our partnership with ChatGPT, creating your own custom content is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

Like many of you, I frequently check in with The Financial Brand, as there’s always some piece of content of interest. I was just reading their recent article, BNPL’s Dark Side: Younger Consumers Face Credit Trouble Ahead when a term that I’d not heard in a while grabbed my attention.

“The Fed goes so far as to warn that a large share of BNPL users are 'financially fragile.'”

“Financially fragile.” Are you familiar with the phrase? According to Google, it's a phrase that economists use to describe people who would not be able to pull together $2,000 in cash within 30 days.

The Financial Brand article lays out some learnings of a Federal Reserve Bank of New York study of BNPL users:

• “Nearly one in three — 32.7% — had a credit score of less than 620, had had a credit application rejected, or had been delinquent on a loan in the past year.
• Only 42% of BNPL users said they could handle a financial shock by drawing on their savings and would not have to borrow to deal with the emergency. 
• The BNPL users who would need to borrow said it would be from friends and family or from banks or credit cards.
• 48% say their money situation is bad enough that they will never have the things they want in life.”

Just how many BNPL users are there out there? I’ve seen 360 million worldwide. I’ve also seen that Klarna, alone, has a user base of 147 million, and that 1 in 10 US consumers regularly use BNPL services at checkout. So, yes, we’re talking about a significant number of people.

Here’s what I’m thinking. You know what’s needed here?  A bit of good old-fashioned financial wellness training.

As a community bank, you play a critical role in local economies by serving as a pillar of support and trust for both your customers and your community. With so many individuals struggling with managing their money, don’t community banks have a responsibility (and an opportunity) to help these individuals improve their financial well-being? A great place to start is with the kind of money management training that can lead to a lifetime of financial wellness; the kind that you can offer … with the right tools.

According to BAI’s, “How banks can help customers with their finances,” a majority of banking customers in North America would consider switching banks for better money-management support and personalized advice. In order to keep their customers from switching, the article goes on to say, banks need to invest in the right tools and ensure they are providing tailored insights and recommendations that customers need, when they need them. While offering personalized financial wellness and money management education should always be high on a community bank’s “to do” list, it is especially critical for those customers who may be financially fragile.

Although most banks already provide digital money management tools, adoption and engagement rates are disappointingly low. According to a recent Forrester report, 88% of respondents say less than half of their customers actively use these tools. That is in part because many tools take a “one-size-fits-all” approach. They also require too many steps to gather insights. Even then, the capabilities fall short. 

Today, there are much better tools out there, tools that deliver personalized insights and recommendations. “A new generation of advanced money management tools that,” according to BAI, “provide actionable insights based on financial data, such as cash flow analysis, transaction categorization, smart budgets, automated savings tools, and personalized advice and recommendations.” 

If you’ve not done so already, as a community bank you should embrace these advanced money management tools. As I mentioned before, local banks have a responsibility to their community and their customers… especially those most in need. Isn’t that what sets community banks apart from the rest? And let's face it; those banks that offer better money management guidance can create better customers and better relationships, which in turn will drive repeat business and loyalty over time.

About Bank Marketing Center 

Here at bankmarketingcenter.com, our goal is to help you with that topical, compelling communication with customers; the messaging — developed by banking industry marketing professionals — that will help you build trust, relationships, and revenue.  Now, through our partnership with ChatGPT, customizing our layouts is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

Well, history certainly does repeat itself, doesn’t it? I immediately thought of this ages-old adage when I ran across this very recent American Banker piece on the challenges banks face with hiring. Here’s an excerpt:

“Recent research shows that 30% of new hires leave a role within the first 90 days. Statistics show that employee retention among non-officer levels is currently at 23.4%, a significant jump on the previous years and a worrying statistic that shows how talent acquisition remains one of the financial world's biggest concerns. This jump comes as those working in financial services enjoyed the largest salary increase of the last decade, with the sector as a whole seeing an increase of 5% on average.”

Sound familiar? it should. It was just over a year ago that we wrote in a blog: “Despite higher-than-normal pay increases, banks are still struggling to hire new talent and slow turnover, according to a report from consulting and accounting firm Crowe LLP. The survey of 429 financial services organizations revealed that in 2022, bank turnover at the non-officer level reached 23.4% — its highest level since 2019.

According to the survey, and 95% of its respondents, the challenge lies in finding and keeping candidates that are considered a “right fit.” Worker expectations of what a job can and should be are sky high, and meeting those expectations is critical.  After all, the stakes are very high in terms of productivity, performance, and importantly, cost.”¹

Well, the more things change, the more they stay the same, right? So, what can employers like small community banks do to attract and retain top talent? Sure, you need to work hard at “culture,” with initiatives that, for instance:

• Strengthen the relationships between coworkers
• Give team members maximum exposure to leadership
• Enhance their skills and abilities so they feel like they are true experts in their field
• Communicate objectives and paths to their achievement clearly and often so that they see success as attainable
• Engage with team members on their future goals and help them chart a path forward

But what do you do when you’re looking to attract top talent, and it’s important to communicate the “features and benefits” of your brand? I’m giving the same advice I gave over a year ago: 

Use your social media platforms!  

Good news. I’ve observed that many of the banks with which we partner in social media messaging are extremely active in this regard and I suspect that, as a result, they are doing well when it comes to attracting and retaining top talent. After all, when it comes to hiring, social media messaging is about a lot more than posting job openings. Here are just a few examples of the more popular topics that our client banks are using social to promote:

• Their brand
• Their associates' birthdays and anniversaries (and nothing says “this is a great place to work" better than a multi-decade anniversary post)
• Their associates' awards, recognitions, and achievements (both professional and personal)
• Their social responsibility initiatives
• Their community involvement

As you can imagine, social media posts that praise your employees also go a long way with potential customers, as well as hires. They reinforce that brand perception that is so important to small banks; that unlike the big national, you’re a neighborhood institution that is trusted and knowledgeable, and that you take a personal interest in the people who bank with you. And to think you can accomplish all of this with just a few social posts!

Making use of your social media messaging can help you avoid what American Banker points to as a major issue:  the lack of a culture fit. “Research shows that 32% of those who leave a role within the first 90 days do so because they don't consider the company culture to be a good fit with their own.” Well, here’s an idea. Use social media to help prospects come to you with a solid grasp of your culture. Social media can do that. And it can be as simple as posting on the topics mentioned above.

In conclusion, I’ll leave you with the same thought I left you a year or so ago, when we were talking about the very same recruitment challenges. Take advantage of social!  Why?

Targeted Outreach

Social media messaging platforms like LinkedIn, Twitter, and Facebook allow you to target specific demographics and job roles with precision. You can use these platforms to identify individuals with the skills and qualifications you seek and send personalized messages, opening a direct line of communication.

Showcasing Company Culture

Social media messaging isn't just about job postings; it's an opportunity to showcase your culture, values, and vision. By sharing compelling content about company achievements, corporate social responsibility initiatives, and employee success stories, you can create and reinforce an attractive employer brand.

Real-Time Engagement

Social media messaging provides real-time engagement opportunities. You can promptly respond to inquiries, address concerns, and provide instant information about job openings and the application process. This responsiveness can significantly enhance the candidate experience, and speed along what can often become a very time-consuming and expensive process.

Building Relationships

Talent acquisition is not just about immediate hires; it's about building relationships with potential candidates. Social media messaging allows you to nurture relationships over time, even if a candidate isn't currently looking for a job. When the time is right, these candidates may consider you their first choice.

Showcasing Expertise

By sharing insightful articles, research, and commentary on industry trends, you position yourself as a thought leader and attract professionals who are passionate about staying informed and being part of a forward-thinking organization.

About Bank Marketing Center 

Here at bankmarketingcenter.com, our goal is to help you with that topical, compelling communication with customers; the messaging — developed by banking industry marketing professionals — that will help you build trust, relationships, and revenue.  Now, through our partnership with ChatGPT, customizing our layouts is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

¹Insider Intelligence. Banks struggling with employee turnover. September 2022.

At a time when the marketplace is increasingly competitive, community banks face a unique challenge: how to effectively compete with larger financial institutions while, at the same time, maintaining their local, community-focused approach. One powerful tool that you, as a community banker can leverage to stand out, and stay connected with their customers, is newsletter marketing. In this article, we’ll talk a bit about the importance of sending out newsletters on a regular basis and why doing so is well worth the effort (PS: And, how it can be far less effort than you think!)

Building Stronger Customer Relationships

Community banks pride themselves on their personal touch. As a community banker, your newsletter can be a valuable marketing vehicle for strengthening your relationships with customers. By regularly communicating through a newsletter, you’re not only providing updates on new products and services, sharing financial tips and insights, and showcasing community involvement, among others. You’re building trust and with it, loyalty.

Educating Customers

One of the most valuable opportunities open to you as a local bank is your ability to offer one-on-one, personalized financial guidance to customers. A newsletter is an excellent platform for sharing valuable financial information, tips, and guidance. Topics can range from budgeting and saving strategies to explanations of the financial products and services you offer.

Cross-Selling Opportunities

Newsletter marketing also creates opportunities to cross-sell your products and services. By strategically featuring different financial offerings, you can remind customers about products they may not be aware of or have not considered. You can also give them a reason to consider such products. If, for example, you mention home equity lines of credit as the holiday season approaches, such a mention might remind customers that a lower-interest HELOC might be preferable to a high-interest credit card when it comes to covering holiday expenses.

Staying Top-of-Mind

Consumers are bombarded with information from various sources, thousands of times each day. It’s critical, of course, that you take advantage of ways to stay top-of-mind with your customers and in so doing, ensuring that you are their first choice when financial decisions need to be made. Newsletter marketing keeps you in regular contact with your customers and helps your bank stand out in all the “noise.”

Need a bit of help with newsletter content?

Sound like a lot of work? Not at all. Now, we’ve talked about ChatGPT before but it’s certainly worth mentioning again, especially in the context of creating long-form marketing materials such as newsletters. The ChatGPT functionality that is now a feature of our portal can be a tremendous help when you’re searching for newsletter ideas. Here’s an example of just how useful it can be. Start by entering a prompt such as, “what financial services products should my bank promote in the month of November?” 

When I did this, my AI-assisted writer gave me this advice:

The financial products and services your bank should promote in the month of November can depend on various factors, including your bank's goals, target audience, and current market conditions. However, I can suggest some common financial products and promotions that banks often consider for November:

• Holiday Savings Accounts: November is the beginning of the holiday season in many countries, and people often start thinking about holiday expenses. Promote special savings accounts or certificates of deposit (CDs) with competitive interest rates and incentives for those looking to save for holiday shopping.

• Personal Loans: Many people may need extra cash for holiday expenses, travel, or home improvements. Promote personal loans with competitive interest rates and flexible repayment terms to attract borrowers.

• Credit Cards: Offer special promotions on credit cards, such as cashback rewards, lower interest rates, or no annual fees, to entice holiday shoppers and travelers.

• Home Equity Loans or Lines of Credit: Some homeowners use the holiday season to make home improvements or renovations. Promote home equity loans or lines of credit for these purposes, highlighting the potential tax benefits.

• Auto Loans: November can be a good time to buy a new car, as dealerships often have end-of-year sales events. Promote auto loans with competitive rates and quick approval processes.

• IRA and Retirement Planning Services: As the year comes to a close, individuals may be looking to maximize their contributions to retirement accounts. Promote Individual Retirement Accounts (IRAs) and retirement planning services to help customers plan for their financial future.

• Online Banking and Mobile Apps: With the holiday season's busy schedules, promote the convenience of your online banking and mobile app services. Highlight features like mobile check deposit, bill pay, and budgeting tools.

• Financial Education Workshops: Offer free or low-cost financial education workshops on topics like budgeting for the holidays, debt management, or retirement planning. These can attract customers and build loyalty.

• Charitable Giving: Promote initiatives for charitable giving during the holiday season, such as partnering with local charities and offering to match donations made through your bank's accounts.

Of course, now that you have a few ideas, you can prompt ChatGPT again, this time with a prompt such as, “write a 100-word article on why November is a good time to get a personal loan from Your Bank & Trust.” Here’s what you get:

• November is the perfect time to explore personal loan options at Your Bank & Trust. As the year-end approaches, many people find themselves in need of extra funds for various expenses, such as holiday shopping, home renovations, or unexpected bills. Your Bank & Trust offers flexible and affordable personal loans that can help you meet your financial needs. With competitive interest rates, easy application processes, and quick approvals, getting a loan from Your Bank & Trust can provide the necessary financial aid without added stress. Don't let financial worries overshadow the joyous holiday season; instead, secure a personal loan from Your Bank & Trust this November and enjoy peace of mind as you tackle your expenses.

Conclusion

As a community bank, success depends on your ability to connect with customers, earn their trust, and maintain your unique position as a community-focused financial institution. Newsletter marketing is a powerful tool that can do just that; by building stronger relationships with customers, educating them about financial matters, cross-selling products, and keeping your brand top-of-mind. And, now with ChatGPT, all of the above is easier than ever.

About Bank Marketing Center 

Here at bankmarketingcenter.com, our goal is to help you with that topical, compelling communication with customers; the messaging — developed by banking industry marketing professionals — that will help you build trust, relationships, and revenue.  Now, through our partnership with ChatGPT, customizing our layouts is even faster and easier. With the addition of AI-assisted content development, our clients can very quickly generate articles they need for newsletters and blogs and any other content they might need in their marketing efforts.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

The Wall Street Journal recently issued this rather stark warning to what some are calling “resistors,” i.e., those employees who are less than enthusiastic about returning to an office. “Bosses are stepping up office surveillance this fall, vowing to use regular reports from badge systems to determine how many people are adhering to the return-to-work policy.”¹

Unfortunately, this is what it has come to; badge swipes, ceiling mounted heat sensors, and weight sensors in office chairs. The WSJ article goes on to say that “according to a survey of employees conducted by real-estate services company CBRE, 57% of companies are now tracking attendance. Among those conducting such tracking, almost half are doing so based on feedback from managers, while another 41% are tracking through badge swipes, sensors or data indicating where an employee’s computer is being used.”  

While I loathe the phrase “new normal,” employers are now faced with an entirely new kind of workforce. Is hybrid work here to stay? I’m not sure that anyone has the answer. I do know that as an employer, I struggle every day with the issues that come with hybrid work. 

Unfortunately, as if we employers didn’t have enough to worry about – with an uncertain economy, lingering supply chain issues, geopolitical unrest, and new competitors entering the marketplace daily, we are now contending with a workforce characterized by:

• Quiet quitting – when employees continue to put in the minimum amount of effort to keep their jobs – a portion of the workforce which Gallup estimates to be at least 50%² 
• A rise in the impact of sustainable business practices — workers feel strongly about a company’s mission and values, with 70% of workers prepared to leave if their company had an unfair gender pay gap and 68% saying the same about a lack of a diversity and inclusion policy³
• The rise of the “side hustle,”⁴ where individuals, primarily remote workers, attempt to work two jobs at the same time, while being compensated by one employer for full time work. This is a workplace trend in which a significant number of workers are engaged.
• Historically low unemployment rates

Is all of the above theoretical? Hardly. I spend far too much of my time addressing the above employee “characteristics” than I should. I have a business to run, not a daycare center. I’m also noticing that roughly 80% of the resumes I receive are from people who have had four jobs in the last four or five years, with many of them at their current job for just three or four months. Why would I hire such a person? Why should I think that in three or four months they won’t be looking to leave my company, leaving me to go through the whole recruiting process again, which is time consuming and expensive? It seems like individuals don’t stay at a job more than a few months before they start looking for another one.

Now, I’m sure that banks are committed to offering a workplace environment where employees can feel empowered, can collaborate, have a path forward, etc. I want all of those things for my employees, too.

But, there’s only so much employers can do and, right now, it appears – not just for me, but for many business owners – what I’m willing to do simply isn’t enough. Which is why we’re all looking at measures such as badge and screen time monitoring.

Since I work closely with banks, I take a special interest in how issues like these affect my banking customers.  This is what I hear:  banks want and need their employees onsite every day of the week. Watch the news and you can see that this is where they’re heading. An obvious reason? The financial services industry is a different kind of animal. Financial institutions handle massive amounts of data and face a continually evolving regulatory landscape. They’re prime targets for cyber criminals. In short, banks face unique challenges when it comes to remote workers. After all, each remote employee’s device – connected to a home Wi-Fi network – constitutes a security risk, one that exposes the bank to a malicious cyber attack. And the consequences of that data being breached can be massive  – from burdensome fines to irreparable reputational damage. So, is it any wonder that banks would love to bring their employees back into the office on a full-time basis? Not to me.

So, when it comes to a hybrid workforce, what is a bank to do? Seems pretty obvious.

About Bank Marketing Center 

Here at bankmarketingcenter.com, our goal is to help you with that topical, compelling communication with customers; the messaging — developed by banking industry marketing professionals, well trained in the thinking behind effective marketing communication — that will help you build trust, relationships, and revenue.

To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.

¹The Wall Street Journal. Attention office resistors: The boss is counting badge swipes. September 24, 2023.

²Gallup. Is quiet quitting real? September 2022.

³ADP Research Institute. People at Work 2022: A Global Workforce View. April 2022.

⁴Bankrate. Survey: 39% have a side hustle, and 44% believe they’ll always need one. March 2023.

Yes, it’s that time again: Farm Bill time. Or, more appropriately the “Agriculture Improvement Act of 2018,” as the Farm Bill is a package of legislation that is passed roughly every five years. The legislation has a tremendous impact on farming livelihoods, how food is grown, and what kinds of foods are grown. And, of course, the provisions of the bill are now being deliberated as Washington grapples with yet another potential threat of a government shutdown. This bill seems to grow increasingly complicated and harder to pass, with a history of being caught in a legislative cycle of extensions, presidential vetoes, and partisan debates.  

This from agamerica.com: “My personal sense is that we will do a temporary extension and begin work on passing a new farm bill at the beginning of next year,” said Rep. Kat Cammack, predicting a "political dogfight," as representatives battle it out on the House floor.  Other representatives, like Senate Minority Leader Mitch McConnell, believe the farm bill could be passed as soon as December 31 of this year." The current bill expires on Sept. 30, but the new deadline for a 2023 farm bill appears to be Dec. 31. On Jan. 1, 2024, some farm policy would revert to controls on production and costly price supports adopted in the 1940s.

The term “farm bill” might have been an apt description of this piece of legislation back in the ‘40’, but it’s a misnomer today. The bill addresses an increasingly critical and complex industry, covering programs ranging from crop insurance for farmers and healthy food access for low-income families to training in support of sustainable farming practices. 

So, as you can imagine, this is no small piece of legislation, either. According to the Congressional Budget Office, the 2023 Farm Bill could potentially be the first trillion-dollar farm bill in U.S. history, with total spending projected at $1.51 trillion. If you’d like to read all 807 pages of the Agriculture Improvement Act of 2018, click here.

I’m always interested in all things farming; what farmers face and the actions being taken by the federal government to help sustain this very important industry. First off, because many of the banks with whom we have partnered over the years do business with local farmers or what most small banks call their “farm families.” But, I’m interested for other reasons, too; I grew up on a small farm in LaFayette, AL. 

With hogs, horses, and 120 head of cows, I get a taste of what hard work farming is. Cutting and baling hay or repairing barbed wire fences in the Alabama heat is tough. Getting up in the dark of winter, to break the ice on the watering troughs. I know what it’s like to plant seed and hope that it rains. That’s not just a matter of hard work… It's a matter of having faith, as well. Then, there was the worry that comes with running a small farm… my dad keeping track of the cost of feed, maintenance, and supplies, especially when the price of beef would drop. 

Yes, I take both a professional and a personal interest in farming and the Farm Bill. If you’re a community banker in rural America, I’m sure you take an interest, too. Despite some gloom and doom talk about its passing, there have been some positive predictions about what it might offer. "If there's a golden nugget, it's the continuation of the federal crop insurance program," said John Blanchfield, principal at Agricultural Banking Advisory Services and a former senior vice president at the American Bankers Association. "It provides two flavors of income security to the farmer, and therefore his or her banker. Flavor one is the protection against weather-related damages — that's the traditional product. And the second is income protection, where a farmer may buy a floor price for their crop, and by doing so, the farmer has income certainty and the bank has repayment certainty."

So, what will the 2023 Farm Bill do, potentially, for farmers and community banks? 

Access to Capital

One of the primary benefits is improved access to capital for local farmers and businesses. Our farmers often require loans to purchase equipment, expand operations, or deal with unexpected challenges like crop failures or natural disasters. It’s the community bank that throws a lifeline to these borrowers, providing essential financial support that enables them to sustain and grow their businesses.

Crop Insurance and Risk Management

The 2023 Farm Bill will also play a pivotal role in bolstering risk management tools available to farmers, and crop insurance programs are a key component of this effort. These programs mean financial protection in the event of crop failures due to adverse weather conditions or other factors beyond their control. Small rural banks often act as intermediaries in the crop insurance process, helping farmers navigate the complex application and claims processes. The Farm Bill can enhance the effectiveness and accessibility of these programs, making them more appealing to both farmers and banks. 

Support for Rural Infrastructure

Another crucial aspect of the 2023 Farm Bill is its focus on rural infrastructure development. Small rural banks are intimately involved in funding and facilitating projects that improve access to essential services such as healthcare, education, and broadband internet. As rural communities evolve and grow, community banks are instrumental in ensuring that residents have access to modern amenities and economic opportunities.

Strengthening Community Banks

Small rural banks face numerous challenges, including increased regulatory burdens and competition from larger financial institutions. The 2023 Farm Bill recognizes the importance of these community banks and aims to strengthen their position in the financial landscape. It includes provisions to ease regulatory burdens on smaller banks, making it easier for them to serve their customers effectively. Additionally, the bill may provide financial incentives and grants to support the modernization of banking infrastructure and services in rural areas. This can help small banks stay competitive in a rapidly changing financial landscape, ensuring that rural communities continue to have access to reliable, personalized banking services.

More than legislation. A lifeline.

The 2023 Farm Bill is not just another piece of legislation; it is a lifeline for small rural banks and the communities they serve. These banks are essential to the economic vitality of rural America, providing access to capital, supporting risk management, and facilitating infrastructure development. As the Farm Bill unfolds, it has the potential to strengthen the foundation of rural economies, ensuring that small rural banks can continue to thrive and provide essential financial services to their communities.

Hopefully, Congress can pass the bill reauthorizing Farm Bill programs sooner than later. If not, they must pass a short-term extension. Failure to reauthorize the Farm Bill in a bipartisan manner and timely fashion will have significant impacts on local communities and economies in both urban and rural areas. And none of us want to see that happen.

About Bank Marketing Center 

Here at bankmarketingcenter.com, our goal is to help you with that topical, compelling communication with customers; the messaging — developed by banking industry marketing professionals, well trained in the thinking behind effective marketing communication — that will help you build trust, relationships, and revenue. Like these campaigns in the portal that rural banks can use to reach out to their farming families.To view our marketing creative, both print and digital – ranging from product and brand ads to social media and in branch signage – visit bankmarketingcenter.com.  You can also contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.