What are the most common mistakes in bank marketing?

The trends: When marketing, financial institutions (FIs) often make mistakes that can derail campaigns. These pitfalls, according to The Financial Brand, include:

• Overemphasizing short-term metrics: Focusing too much on immediate results like deposit growth or mortgage applications can undermine long-term brand strength. But as finfluencers told us in a recent interview, initial metrics can prompt campaign tweaks that help inform longer-term success. A balanced strategy that includes brand-building alongside demand campaigns yields better results.
• Assuming executive buy-in: Marketing budgets are often first on the chopping block. That’s because executives sometimes need help understanding the value of marketing efforts. Using data-driven insights to demonstrate the long-term value of marketing investments is essential for maintaining leadership support.