http://www.msbusiness.com/article.cfm?ID=3681
Although the banking industry spent more to market products and services in 2005, industry spending will likely remain stable in 2006. This is the finding of the American Bankers Association’s (ABA’s) 2006 Bank Marketing Survey.
Industry marketing budgets have been on the rise since 2002 with expenditures peaking in 2005 at $10.6 billion. It is projected that industry marketing expenses will reach $10.45 billion by year-end 2006, a decrease of 1.46%.
The largest budget increases occurred at the smallest banks. The survey found that average marketing expenses at the smallest banks (less than $100 million in assets) increased by 61.5% from $52,000 per bank in 2003 to $84,300 in 2005.
With this in mind, one Mississippi-owned bank is implementing some marketing tactics that are long overdue in the banking sector, in my opinion.
BankPlus has announced that it is opening (and presumable sponsoring and staffing) a small business resource center in our state’s largest metropolitan city’s Chamber of Commerce office. How better to get to know small business owner’s needs than to get to know the business owner in a non threatening neutral situation.
The center is located on the first floor of the MetroJackson Chamber of Commerce.
The room is designed to serve as a resource for small businesses. It is open to businesses in need of access to a computer, fax machine, copier or information regarding small business.
How best to endear yourself to future customers than to pave the path for them to succeed?
In a separate item, Belzoni-based BankPlus and Jackson State University are sponsoring the opening reception of the JSU/BankPlus Fast Trac Program.
The business-planning program takes ideas and innovations of local entrepreneurs "from mind to market." Topics to be covered include: entering and capturing the market; planning for financial success; building and compensating your organizational team; protecting your intellectual property; identifying, finding and working with investors; managing cash and operating your business; business plans; and, start-up assistance.
http://www.msbusiness.com/article.cfm?ID=3661
Small business marketing tip: Consider how your business – whether financial or anything else – can implement outside of the box methods to reach your target audience by providing value and building relationships in non-traditional ways.
