Speaking at LendIt Fintech 2018 Kabbage CEO Rob Frohwein talked about building a brand in the online lending space; he explained most companies think boiler rooms equal brands, he went on to say you need to spend time and money on building your company’s brand; building relationships is the key, not just credit scores and data, you need to understand what your customer wants and needs by engaging with them on a regular basis. Source.
Content marketing has become a widely used trend among financial firms to build brand awareness about products; what most companies find is cutting through the noise is quite hard as most companies share content that can seem the same from the user perspective; some are trying different techniques like having users write content or testing different visuals; companies need to figure out the types of pieces that work best for their particular segment. Source.
Banks are beginning to see that marketing Zelle within their own apps can be a challenge; “It’s not a simple feature you can roll out and say ‘try it.’ Explaining all these things means you have to prioritize because there just isn’t enough time so you have to be very selective,” says Mark Schwanhausser, director of the digital banking practice at Javelin and author of a new report looking at this issue, to TearSheet; banks have tried a number of ways to highlight Zelle as part of their banking experience, though the task has not been easy; as the brand grows and customers get accustomed to the difference the job will become easier. Source.
U.S. Bank plans to use the upcoming Super Bowl to build brand awareness; being based in Minneapolis, home to this year’s Super Bowl, will allow the company to utilize the game to increase local exposure; the company plans to run local ads during the game along with sponsored videos on social media channels; they also plan to use local Minneapolis space in coffee shops for example to have people interact with technology and compete for prizes; “We want to get people in the space, and help them get exposed to the brand and learn a little bit and get engaged in a fun activity,” said Chris Lee, head of sponsorships for U.S. Bank, to TearSheet. Source.