Yes, it’s that time again. Fall festival time, and for me, a time of year that is really pretty special: As you can see from the photo. Yes, that’s me at the livestock competition, celebrating a blue-ribbon win with my prize-winning steer.
As I’ve mentioned before, I grew up on a farm. So, fall has always been a special time for me. As you probably know, the celebration of fall dates back centuries, a tradition born out of those who farm giving thanks for the summer’s harvest. That celebration, depending on where you live, includes a wide variety of activities ranging from pumpkin carving, pie eating and hayrides, to tractor pulls, and livestock competitions. Back when I was a kid, the livestock competition, as you can see, was the main event – at least for me. Every time I look at this photo it reminds me of that time, a time when the fall was truly special, and we all really enjoyed a sense of community.
What does this have to do with bank marketing, you ask? Well, if you’re a local banker you know that the community bank has long been a cornerstone of towns and neighborhoods across the country. Sure, community banks provide essential financial services tailored to the unique needs of their community members, fostering trust, and building lasting relationships with both individuals and small businesses. But, the role of the community bank extends far beyond merely offering financial products and services. By actively supporting community events, local banks are strengthening their ties with the community, promoting economic growth, and enhancing their reputations. Here’s why supporting community events is not just a good practice, but a crucial strategy for community banks. And with fall coming, now is a good time to act upon that strategy.
Show them you’re active in the community. Really.
In today’s world – and even in small towns, believe it or not – people are increasingly looking to companies that demonstrate corporate social responsibility (CSR), banks included. They want to know that their bank contributes to the common good and shows concern for social and environmental issues. By participating in community events, you’re demonstrating your commitment to being good corporate citizens. For example, your bank could sponsor a local food drive, organize financial literacy workshops at community centers, or support an environmental cleanup event. These showcase your bank’s dedication to addressing important community needs, as well as highlight that your bank’s priorities extend beyond simply selling products.
It’s not just business. It’s personal.
It’s one of the biggest advantages your community bank has over those larger, national financial institutions and neobanks; your ability to establish and maintain personal relationships with your customers. Supporting local events like upcoming fall festivals, charity fundraisers, farmers' markets, sports teams, and sports tournaments enables your bank to have a presence in places where your customers gather and to be viewed as an active participant in their daily lives. Now, you’re more than just a financial institution. You’re a trusted member of the community.
Educate and create. New customers, that is.
Yet another opportunity is to use community events as platforms for financial education. Many people in local communities, especially younger generations and underprivileged groups, may lack even the most basic money management skills. By sponsoring or hosting events focused on topics like saving for retirement, home buying, or managing debt, your community bank can provide residents with these important life skills. For example, your bank might sponsor a financial literacy day at a local school or library, offering workshops and informational sessions. Or, you might get with an organization such as Junior Achievement, for instance, and teach a money management course at the local elementary school. This not only positions your bank as a resource for financial guidance, but also empowers community members to make more informed financial decisions. And, when residents view their bank as a trusted educator, they are more likely to turn to that bank for products and services in the future.
Talk the talk on social platforms
While I may not have a silver bullet when it comes to how community banks can thrive in the highly competitive financial services world of today, I do know this; simply saying something doesn’t make it so. I’ve learned this not only after many years in the bank marketing business, but also after many years as a plain old consumer. It is one of the basic tenets of brand marketing. You’ve got to “walk the walk, talk the talk” as we say in the marketing world.
A great place to “talk the talk” is social media. If you’re not doing so already, do more with your posts than sell your banking services. Make your social media presence a resource for the community that goes beyond what you do as a bank. In short, be a lot more than just a bank.
Remember those days when you could count on your local paper to report on the latest goings-on in your community? Some still do, but not many. You’d get the high school football game scores, the dates and locations of upcoming Rotary Club meetings, tips from local folks on cooking and gardening… maybe even an article about the recent 4-H livestock show and how one of the local young men was lucky enough to take home some blue ribbons in the cattle showmanship competition. Perhaps the article might even include a photo of the boy showing off his ribbons and his award-winning, 1000-pound steer!
We all know the reality that one can buy a Certificate of Deposit or open a checking account at a lot of places. It’s relatively easy to get good financial advice, too. So, don’t just claim to be involved in your community. Be involved. Sponsor charity events, support local causes, and do these in a big way. Be as visible outside the branch as in. And use the power of your social media marketing to get the message out there.
Conclusion
After all, supporting community events is not just a good public relations strategy; it’s an essential part of your bank’s identity and mission. Attendance/participation in these events builds and strengthens customer relationships, enhances your brand, and most importantly, demonstrates your commitment to the community you serve.
Bank Marketing Center
Here at bankmarketingcenter.com, our goal is to help you with that topical, compelling communication with customers — developed by bank marketing professionals for bank marketing professionals — that will help you build trust, relationships, and revenue. Like these campaigns focused on fall community events.
We also want to share what we know – and learn along the way – with all our community banking friends. Whether it’s the latest on AI technology, suggestions on how to attract and retain top talent, or the importance of data protection, we’re here to make bank marketing the best that it can be.
Want to learn more about what we can do for your community bank and your marketing efforts? You can start by visiting bankmarketingcenter.com. Then, feel free to contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.