The three biggest digital marketing mistakes of 2020
In order to take full advantage of everything digital marketing has to offer, banks and credit unions should carefully consider how to be proactive versus reactive. Research demonstrates that many financial institutions may be missing out on the low-hanging fruit that today’s technology offers.
In the months following the onset of COVID-19, there’s been a universal experience: the need to use technology to protect our health, whether it’s to enable remote work or to facilitate non-contact services. For financial organizations, this period has signified a tremendous shift from bricks-and-mortar services to digital platforms, creating a push-pull that demanded quick adoption of new tools: The push of needing to remain open and functional without in-person presence, and the pull of customers who needed to connect with their accounts and bank personnel.
The quick transfer to new technology also added fuel to the fire behind marketing’s shift to digital channels. In fact, Deluxe just released a new report, Vision 2021: Building a Marketing Organization That Thrives in a Digital World. There’s a heavier reliance on mobile marketing, social media and updates to organization websites.
However, there’s a catch in this digital-first focus: the danger of investing in what’s worked to date, instead of anticipating what our changed world will demand from financial institutions in the future.
Mistake #1: Under-Investing in Data-Driven Marketing
Marketing budgets are always under attack, and never more than during the first year of COVID-19.
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