DIGI CONVO Blog

2023 Community Bank Marketing Guide: What Digital Agencies Do and Why

 

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There's no one answer to the question of if community banks should hire an agency for digital marketing. Ultimately, it depends on a number of factors, including the bank's budget, the size of its marketing team, and the scope of its digital marketing goals. If a community bank has the budget to hire an agency and believes that doing so would help it to achieve its marketing goals more effectively, then it makes sense to proceed.

However, if a community bank is already achieving good results with its in-house marketing team, hiring an agency may not be necessary. In any case, community banks should carefully weigh all of their options before making a decision.

In this article, we'll discuss what exactly agencies do, as well as the possible benefits:

1. What digital marketing agencies do and how they can help community banks


Digital marketing agencies offer a wide range of services that can be helpful for community banks. One of the most important things they can do is help banks develop an effective digital marketing strategy.

Agencies can also provide assistance with implementing and managing digital marketing campaigns, as well as designing and developing websites and mobile apps. Additionally, many agencies offer consulting services to help businesses identify areas where they need improvement.

In short, digital marketing agencies can provide community banks with the resources and expertise needed to succeed in today's online environment.

 

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2. The different services agencies offer for community banks

Here are some of the most common services provided:

Strategy Development

An effective strategy will take into account the bank's goals, target audience, and budget.

Campaign Management

Once your strategy has been developed, it's time to start implementing it. Digital marketing agencies can help with everything from developing ad campaigns to managing social media accounts.

Website Design and Development

If your website is outdated or difficult to navigate, you could be losing out on customers. Digital marketing agencies can help you design and develop a modern, responsive website that will make a good impression on potential customers.

Search Engine Optimization (SEO)

SEO is the process of optimizing a website for Google search so your bank shows up higher in search results. An agency can help by conducting keyword research, optimizing web pages, and building links.

Local Listing Management

Local listing management is claiming and managing your bank’s branch locations, including information on local directories and search engines. It’s important for SEO because it helps your bank to appear in relevant local search results. Agencies can monitor and optimize these listing.

Social Media Marketing

Agencies can assist with developing strategies, creating content, managing accounts, and analyzing data.

Content Marketing

Content marketing helps community banks to attract and retain customers by providing them with valuable, relevant information. An agency can help with content development, curation, channels and distribution.

Email Marketing

Email marketing can help community banks to stay in touch with their customers, promote new products and services, and increase brand awareness. Agencies can help by developing email lists, designing email templates, and managing campaign distribution.

3. How to find the right agency for your bank


When you're looking for an agency partner, it's worth considering ones specializing in working with community banks.

Also ask other community banks for recommendations. Then you can check out each agency's website and see what services they offer.

Finally, make sure to schedule a consultation so you can get to know the team and see if they're the right fit to help you achieve your digital marketing goals.

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4. Determining a budget for outside digital marketing assistance


The first step is to assess your bank's needs and goals. Once you have a good understanding of what you want to achieve, you can start researching prices.

Keep in mind that agencies typically charge either an hourly rate or a monthly retainer. The price will also depend on the services you require and the size of your bank.

Once you have an idea of how much it will cost, you can start developing a budget for your community bank's digital marketing efforts.

5. Tips for community banks to get the most out of your agency


  • Be clear about your goals from the start. This will help the agency develop a strategy that is aligned with your objectives.
  • Communicate regularly. The more communication there is, the better results you'll see from your campaigns.
  • Provide feedback. If you're not happy, make sure to let the agency know so they can make changes.
  • Be open to new ideas. An experienced agency will have fresh perspectives and insights to drive growth.
  • Have realistic expectations. It takes time to see results from digital marketing efforts. Patience is key.

Conclusion

Hiring a digital marketing agency is a big decision for community banks. But by understanding what they do and how they can help, as well as taking the time to find the right agency for your bank, you can set your community bank up for success in 2023 and beyond.

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