Have you noticed your daily routines have changed? I used to have the newspaper delivered to my home every morning. I would sit in my kitchen, drink my coffee, browse the newspaper glancing at headlines, rate specials, and other random things that would catch my attention. That entire process would take about a half an hour to forty-five minutes. Now I hop on my laptop, check my email, today’s headlines, the stock market, glance at Facebook, and I am done before I finish my cup of coffee. So what is the point to all of this? With our growing need to get our information quickly the majority of your market is missing your message. So how do you get heard? Use multimedia with personalized follow-ups.
Let’s say for example you want to increase your loan portfolio. In the past you would put an ad in the newspaper, cross your fingers and wait for everyone to pour through the door. Only problem is they never poured through, did they? You may have received a couple of calls and a few stragglers, but what were the actual results? However, if you mail out information to a targeted market and follow up with personalized call, asking what their needs are, what their current rates are, and you can help them, that would be a profitable result you could measure.
Am I getting heard with direct mail? Some generations will respond to direct mail; however, there has to be follow-up for any mail campaign to gain results. Direct mail alone is hard to measure unless someone walks into your branch, jumping up and down, holding what you sent them; you will probably never know if you just wasted your money or not. Now take your postcard and follow that up with a phone call and then watch your results triple!
Have you ever called your members and asked them what they wanted? By asking your members what their wants and needs are you just gave yourself the opportunity to strengthen the relationship and have been given the opportunity to offer them other products and services they might not have even known you had. Now you’re not only making a courtesy call and building upon that already established relationship, you’re onboarding your members, generating loans and more deposits by just one call. Another great way to do this is through Facebook, this way you can reach all generations.
What about the new generation – how do you get their attention and get them to hear you? The answer to that one is easy, social media. Generations X and Y respond to a different type of media. This group of people, me included, relies on technology and quick information. We check our Facebook pages every day, follow people on Twitter, rely on our smart phones, and do everything via email, definitely not snail mail. That being said, to get through to this market you need to speak the language and be seen where they surf. Do you have a Facebook page yet? If not it is time to create one, Facebook is a great way to promote your rates, specials, services and brand. Have you started your in-house email lists yet? Email is an effective way to get the attention of the generation X and Y. Follow up on all of the above with a great phone call, and watch your margins grow!
One media alone will not get your message heard by all. If you want to reach cross generational, you are going to have to mix it up. Just remember if you want measurable results no matter which media you choose it’s all in the follow up. Without the follow up connection you may as well go back to crossing your fingers and hoping that the newspaper ad you spent so much time and money on will have people running through your door.