Does Upper Management At Your Bank Or Credit Union Hate The Word “Engagement?”

Do You Struggle To Justify The Value Of It?

Engagement is an important term when it comes to social media and content marketing. If your audience isn’t engaging on social media the likelihood of them making a purchase, and turning into a customer is slim-to-none.

So, no matter how executives feel about the word, there is value in engagement. And just to make it more complicated, there are different levels of engagement. For instance, someone who Likes a Facebook post is less engaged than someone who subscribes to your email. Why? They may Like your post simply because it made its way onto their Newsfeed, but will never leave the Facebook platform and visit your brand again. On the contrary, an email subscriber has voluntarily opted-in to your content and therefore is much more interested in your bank and credit union.

In fact, email subscribers are likely the most highly engaged consumers available to bank marketers. Focusing efforts into building email subscribers will have the biggest impact to your bank’s bottom line.

Here are some ways to build email subscribers.

Create A Newsletter

If you find that your social media engagement is increasing, and your audience is loving the content you provide, start sharing posts to subscribe to a newsletter. Consumers that are actively interacting with your social media profiles are likely to opt-in to your content in the form of a newsletter.

Be sure to post this as an option regularly. Different platform posts have a different shelf-life, so reminding people of your newsletter continuously is key to increasing subscribers.

Run A Competition

People will give you their contact information if they have a chance to win something. The difficulty lies in finding something that people will want. Unfortunately, the days of a $10 Starbucks gift card are over. For community banks and credit unions, operating on limited budgets can make this a challenge. However, what they do have are relationships. So before you start shelling out money, reach out to influencers and partners within the community to put together prizes.

Host A Blog With A Subscribe Button

Creating a blog that has valuable content can turn into a must-read for your audience. Make sure your blog has an option to subscribe to the content. This way customers that “get lost in your blog” will want subscribe and receive notifications from your brand.

Create A Value Proposition

Create content that is so good that people would pay for it, and then make it downloadable. For example, your bank could host a webinar and in order to tune-in customers would have to feel out an opt-in contact page. Or, create a downloadable guide and have people input an email address for it to get delivered.

When all’s said and done, the key to increasing subscribers comes down to providing content that people want to engage with. Whether you create a newsletter, write a blog post, launch a competition, or host a webinar, as a bank marketer, your job is to create content that people want to interact with.

The more they engage, the more your sales will grow – and those numbers won’t need to be explained. Let us know how your FI’s email subscriber engagement is going in the comments below! What’s working? What isn’t?