This could almost be updated to WHAT is a fax machine. A surprising number of financial institutions are still asking people to print out an application from their website and then either drop it in the mail or fax it into the branch. It’s surprising to many organizations that many of us, regardless of age, don’t have ready access to a fax machine (and haven’t purchased a stamp in years). Years ago, being able to post an application online for visitors to fill out in advance was considered the ultimate in convenience. No more coming into the branch and spending an hour filling out paperwork! Fill it out before you get here and think of the time you’ll save! It’s 2019. If you don’t have online applications or the ability to apply through the website or app at all, it is time to review your convenience services and digital presence.
THE 10 YEAR CHALLENGE FOR YOUR BRAND
It can be hard to pinpoint the exact origin of some social media trends. Seemingly overnight, timelines and feeds are flooded with people dumping ice water over their heads or, as happened in January, pictures from 10 years ago and today. Some called it the 10 Year Challenge. Others were a little harsher, asking “How Hard Did Age Hit You”. In just a few days, over 5.2 million people shared images of themselves from 2009 and today. Beyond something to look back on — and potentially laugh at — the 10 year challenge also provided a great reminder to do a status check on your brand and how it is holding up over time.
Here are four questions to ask to see if you’ve been keeping up with the times or if you’re stuck in 2009:
1) Is our website up-to-date
The site doesn’t have to be brand new to still feel fresh, however it is imperative that you take into account these factors:
2) What is our video strategy?
Marketing in 2019 means more consumer touchpoints than ever in history. To think that a potential member only interacts with your brand in person, Monday through Friday from 8:30 to 5 wasn’t true in 2009 and it definitely isn’t true now. What is true is that video offers compelling, memorable content that can be easily shared on social media, your website and even in-branch digital displays and on some ATMs. While smartphones have made video more affordable and accessible than in the past, it is important that your videos are part of your overarching marketing strategy. Posting a Boomerang of a team member dancing in the break room may be fun but is it accomplishing a goal? Does it fit your overall message and brand voice? Plan strategic ways to share content and use video as a tool to drive further engagement.
3) How is our app?
If the answer is “what app?” then it is time for a serious meeting with your team. According to the Mobile Ecosystem Forum, in 2017 over 61% of Americans said they used mobile banking. While many said they were simply checking their balance in their respective app, the number of tasks completed per app use has been going up in recent years. Lacking a user-friendly app could be a factor for many younger demo users in whether they choose to join or go to a more digital-savvy competitor.
4) Bonus Question - Where is the fax machine?
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