Weber Marketing Group has acquired BancTrac Solutions, a 16-year-old data warehouse and analytics firm located outside Boston, MA. Weber Marketing Group CEO Mark Weber noted: “with 18 years of data analytics work and 30 years advising some of the nations’ leading financial services institutions, we’re thrilled to acquire an exceptional analytics platform and talented team like BancTrac Solutions to expand our business intelligence offerings to our financial clients and theirs as they evolve their digital capabilities in a rapidly changing environment.”
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Mark Weber will speak at the first CUNA Digital Marketing School, June 4-6, 2018 in Nashville.
Digital trends are changing the way consumers engage with their financial institution. It's vital that marketers evolve their strategies and help lead their organizations' brand and marketing forward. Many marketers are missing out on opportunities to improve their organizations' performance through more integrated marketing strategy.
Mark Weber will be speaking at the first CUNA Digital Marketing School, at 3:15 p.m. on Tuesday, June 5th in Nashville on linking digital transformation & data analytics into brand and marketing strategies.
Learn more here.
Mark Weber, CEO, Weber Marketing Group
Mark is a marketing consultant, brand strategist, and data analytics expert. He advises clients on strategic growth and transformational initiatives. He is a national speaker and author, and blogs on brand strategies, business intelligence, and consumer behavior trends. Read more.
Visit the Weber Marketing Group booth
at the the Financial Brand Forum for your chance to win!
Two round-trip tickets to Seattle.
Two nights at a premium hotel.
Facilitated Visioning Session.
Guided tours of the Northwest’s most innovative spaces.
You and a co-worker will enjoy
guided tours of these innovative facilities.
And in a facilitated visioning session,
you’ll meet the Weber team of strategists as we explore
brand and digital strategies for your financial institution.
More about this giveaway:
Weber Marketing Group is offering Financial Brand Forum attendees a chance to win a trip for two financial executives to Seattle for a Facilitated Brand & Digital Innovation Session and an exclusive tour of some of the world's biggest brands.
- Round-trip, economy class airfare for two (you and one additional leader from your organization).
- Two nights at one of Seattle’s most acclaimed downtown hotels.
- An authentic Seattle seafood dining experience.
- 1.5-day Facilitated Brand & Digital Innovation Visioning Session with some of Weber Marketing Group’s top strategic leaders.
- Guided tours of Amazon Go, Capital One Cafe, Starbucks Roastery, The Bill & Melinda Gates Foundation Visitor Center and more.
You’ll discover how the personalization of data builds bRand loyalty and profit. We’ll discuss:
- The proven systematic approach to digital transformation.
- Where to get started, and how to drive the digital transformation process forward.
- How to define buyer personas and create a profitable segmentation strategy within your digital strategy.
- How to identify and tackle customer pain points and relevant lifestyle triggers.
- How to make the shift to a digital-first marketing strategy.
- How to develop and implement a high-functioning content strategy.
- How to generate digital, video, and social media marketing messages that are highly personalized, relevant and measurable.
How to enter:
- Stop by our booth at the Financial Brand Forum in Las Vegas, May 7th-9th. You can find us at the Weber Espresso Stand located at the center of the exhibit hall.
- Answer a few simple survey questions on one of our iPads.
- That's it!
We will announce the winner shortly after the conference.
And while you're at the Forum, don’t miss this breakout session
The Art and Science of Navigating Digital Transformation
Don't miss this invaluable breakout session on Tuesday, May 8th at the Financial Brand Forum with Karen McGaughey, VP Client Services & Principal, and Josh Streufert, Creative Director & Principal. Learn more here.
Being all things to all people is stifling many financial institutions' ability for achieving market distinction, tailored brand experiences, digital evolution and personalization.
Today, successful marketing results require identifying, nurturing and targeting your fastest growing, most profitable and loyal segments; and then delivering a rich, highly personalized set of content and integrated experiences.
But do you even know who your best members or customers are yet? What are their savings and investment goals? Debt burden and borrowing needs? What about payment and channel preferences? And where will you find these vital targeted prospects out in the marketplace that are regularly drawn to your value proposition?
Driving profitability and enhancing user experiences today requires vital data analytics, big data and behavioral insights: not generic marketing campaigns or low-price product selling. But it starts with a well-integrated database of behavioral information and the building of a robust Lifestyle Segmentation Strategy with clear targets and ways to solve consumer pain points and financial hurdles.
Armed with clear target segments and rich data insights from an array of sources like your MCIF, payments data and channel usage, Persona Mapping takes your marketing a huge step forward. You can help refocus employee knowledge and behaviors; fine-tune personal content and focus marketing resources using behavioral information and user preferences (spending habits, debt profiles, saving and investment challenges, payments), to identify behavioral triggers and buying priorities.
Armed with this base of highly focused target audiences and Persona Maps, everything from new customer onboarding, marketing automation, digital and social media buying and content can be personalized and tailored to the unique needs of individuals with a well defined Digital Content Strategy. These are the keys to driving higher engagement, NPS scores, wallet share, loyalty and profitability in 2018.
To learn more about our targeting strategies and see our client results increasing profitability, loyalty and brand engagement, contact a Weber Marketing consultant to discuss your situation at firstname.lastname@example.org.
Free Recorded Webinar
Join Ben Stangland, Principal, VP and Analytics Strategist, and Charlotte Boutz-Connell, Director of Client Experience, for a deep dive into how a strategic approach to target audience segmentation can position your financial institution for the healthiest growth in your history – and engage your entire organization into deep alignment in the process.
First impressions are important. From a first date, to trying a new restaurant, one lousy encounter can be the deal breaker for a second chance. This same logic goes for a company’s online experience—a bad user experience, especially on the first engagement, can negatively impact the company’s retention rate.
This is especially true for financial institutions—an industry that for the past few years has been extremely focused on providing a positive and engaging digital banking experience. Yet somehow, many banks and credit unions are still missing the mark when it comes to providing the right online user journey. Which means they are losing a chance to grow relationships with today’s digital consumer.
Mobile & online banking users are more likely than non-mobile bankers to use additional banking products. That means they expect a streamlined experience that makes it easy to bank and open accounts online. However, high abandonment rates—40% or more—continue to be a dark cloud hanging over bank and credit unions and it’s time to address the problem.
Far too often financial institutions online account opening processes require the consumer to jump from one screen to the next and spend time on repetitive steps (not ideal in any case, but more so on mobile). This disjointed and annoying encounter breaks the expected seamless digital journey and adds to higher abandonment rates.
Financial institutions need to take a step back and ask themselves, are we approaching online banking the right way? Do we know our audience? Are we thinking like digital consumers?
One mistake commonly made when thinking about digital banking is that it’s only done on smart phones. Turns out practically everyone uses digital banking not just on their phone but also tablets, laptops and even PCs. Banks and credit unions need to make sure their digital platform is an intuitive, mobile-optimized applicant process that can be used across a variety of devices.
Also, consumers love to save time. Banks and credit unions need to remember this is half the attraction to online banking – the time it saves. One way to make it even easier for the user is to find ways to automate information collection, such as snapping a picture of a driver’s license to pull information via mobile capture to complete applications. Along with quick information collection, another time saver is making the application process one direct path from start to finish. Very few people are willing to spend more than 15 minutes on a digital channel to open an account or fill out any type of application. Banks and credit unions need to set themselves up for success at the very beginning by deploying the right online consumer journey with a laser focus on user experience design—helping to lower bounce rates and attracting and retaining customers.
It’s time for financial institutions to step out from under the black cloud of high abandonment rates and offer online journeys that are seamless and require little time or effort. It’s also important to think about the untapped potential of mobile users and communicate how their digital experience is as good as any name-brand organization and to differentiate themselves by highlighting how their service, pricing and value beats the competition.
Today’s digital consumers refuse to settle when it comes to their online experiences and won’t hesitate to ditch one and go in search for a better one elsewhere.
First impressions count. Banks and credit unions need to make sure their digital experience is one that leads to regular engagement and deeper relationships.
Libby Wilson is an Account Manager at Weber Marketing Group.
As a brand ambassador for her clients, Libby helps align their business goals with target audience needs. Her experience includes strategic planning, brand strategy, digital marketing, project management, and social media.
Financial services organizations have access to some of the richest data and behavioral analytics around.
They know how people bank, borrow, save, transact and live their financial lives. But most organizations have limited ideas about how to harness that data, build strategies around it and use it to shape future performance.
Thus more than ever, it pays to focus on this truth: Data and analytics generated by the customer provide a valuable blueprint for how to engage that customer in the future.
While creating a highly personalized digital experience occupies the minds of all financial services leaders, data analytics and application to drive performance can prove a game changer. Investing in data analytics technology, warehousing or marketing automation only mark the first steps. Banks also need the right people, processes and strategy to move data from interesting side notes to true business intelligence, strategy and profit-driving execution.
Most banks have data collection and storage systems, but often not linked. Many banks fail to cultivate specific ideas or strategies to collect what they want from the data—and determine how it can reshape customer experiences and performance. As the customer landscape continues to shift amid a digital and mobile revolution, banks must figure out how to use data to define growth strategies, create easier and simpler consumer engagement and ultimately grow wallet and market share.
Quantity, quality, strategy
Future growth with a demanding consumer audience depends on innovation, with enhanced customer experiences driving Net Promoter Scores and healthy referrals. Financial leaders need to use their data to identify their ideal existing target audience behaviors and patterns. This not only leads to better customer retention: It helps the organization grow.
Learning how to capture, cultivate and utilize the right data can help organizations marry qualitative knowledge and quantitative insights. This approach provides a wealth of data and opens the door for informed decisions, market analysis and modeling to create bold new growth strategies.
Providers, privacy, products
Many insurance providers have made major strides with data analytics. They use algorithms to identify web-shopping patterns and build innovative models such as online policy price comparisons—while traditional banking providers have lagged in their use of data modeling. Because financial services organizations gather sensitive and confidential data, part of the challenge rests with addressing internal concerns over the balance of online privacy with delivering more innovative services.
That fear does not hold back a barrage of new online disruptive FinTech players—such as Acorns, Simple and Venmo—from creating rich new apps to make banking, payments, saving and investing simpler and more engaging.
One growing digital success story comes from Citigroup. As one of the world’s largest financial services organizations, Citigroup has adopted a robust, data-driven approach to provide simpler banking services and to grow market share. The company uses model testing to deconstruct its customer data analytics and to better understand how to engage with customers.
Financial services organizations can use analytics to mine their data and find new insights, which can reduce process complexity, improve customer channel experiences and bolster product performance strategies by reaching customers at the exact moment of need.
Here, then, are three tactics for making the best use of data:
1. Evaluate patterns, trends and triggers
Financial services organizations should focus on customers’ preferences, needs and behaviors to facilitate the organization’s growth. But first, determine what these are. Collect data and analyze trends using a strategic process to define customer behaviors and channel usage to help build future predictive models.
Organized data provides vital insights to sets of patterns, trends and triggers that define the customers’ choices and where the organization has succeeded (or failed) at responding to those moments. This can help define future digital actions and growth strategies.
2. Strategize your growth rise
This should start with identifying the most committed, productive and profitable customers. While financial services leaders know that not all customer relationships are equal in value, few can quantify which customer segments fall into the ideal 10 or 20 percent of users by product, profit generation and recency—and then find those segments in the general population to grow more of them.
Conducting client and market analysis based on rich psychographic and lifestyle segmentation adds incredible value to data and market analytics. Lifestyle segmentation allows you to focus on laser targeting strategies well beyond basic demographics or vague clusters such as Millennials. By geocoding customer household data and tying it to market financial analytics and big data, we can now understand behaviors and market share, as well as forecast growth and predict performance trends.
When organizations can pinpoint future targeted growth segments and market performance, the profitability of each, and their growth in market population, they can better understand their market and how to best reach customers to optimize growth. Then it’s time to utilize behavioral data to identify patterns of actions for targeting.
3. Prioritize through models
By ranking and weighting specific tailored growth criteria, financial services leaders can build customized market algorithms that model future priorities. This can help pinpoint underperforming locations and future growth markets, increasing performance as a result. By leveraging data analytics, forecasting and market scoring, banks can model growth strategies out five years to target the most lucrative real estate opportunities.
As for the present, financial services organizations sit on a wealth of data analytics and information, but do they use it to its fullest potential?
Start with the right process of defining growth plans, profitable products, distinctive brand experiences and value proposition. Then build the right data model and long-range growth strategy and performance model that will set the organization up for success. After all, nothing beats crunching the data that results from a stellar uptick in performance.
Original article published May 9, 2017 on BAI Banking Strategies.
Mark Weber is a marketing analyst, brand strategy consultant, and financial services industry expert. He advises clients on strategic brand and growth initiatives. He is a national speaker and author, and blogs on branding, branch prototyping, emerging technologies, and consumer behavior trends. Read more.
Kindred Credit Union has a generations-long history of aligning values with finances. By joining GABV, Kindred is now collaborating within a global movement working to develop a positive, viable alternative to the current banking system.
GABV is an independent network of banks, banking cooperatives, and credit unions, using finance to deliver sustainable economic, social, and environmental development. Founded in 2009, GABV includes over 43 financial institutions and seven strategic partners across the globe.
Weber Marketing Group partnered with Kindred Credit Union, formerly Mennonite Savings and Credit Union, in 2015 to guide its strategic renaming process. At a time of declining net membership and other key metrics for the organization, this effort positioned the credit union to attract more like-minded members of the community desiring to make intentional financial decisions according to values such as peace and mutual aid. Within a year of its successful name change and brand repositioning, Kindred was more profitable than ever and experiencing historic best loan, deposit and mutual fund growth - proof that banking with purpose is not only good for the community, but a mission that draws passionate engagement from the community.
News of joining GABV comes in addition to Kindred's recent recognition as one of the 2017 companies that is Best for the World Overall, which considers positive impact on workers, community, customers and the environment. More information about the Best for the World lists, and Certified B Corporations is available at bthechange.com.
Read Kindred Credit Union's press release here.
Randy Schultz, our VP Marketing, will teach at CUNA Marketing & Business Development Certification Schools, October 15th-19th in Las Vegas.
CUNA (Credit Union National Association) Marketing & Business Development Certification Schools is a comprehensive, dynamic program that’s ideal for a range of expertise levels – both for those with little experience in credit union marketing and business development, and those who simply wish to strengthen their command of the basics.
CUNA Marketing Management School and the Business Development track from CUNA FUSE are being combined into this new certification school. This event brings together two certification schools at one location to maximize your learning and networking potential. All you need to do is decide which track you prefer to start with – marketing or business development. And once you complete the designation associated with your track, you can continue onto the next one. You do not need to take one before the other.
Who should attend: Both schools are beneficial for credit union marketing and business development professionals looking to build and grow their skills.
We're honored and excited to announce that eight of our clients won MAC Awards in 2017.
The MAC Awards recognize outstanding marketing, branding and business development achievements in the credit union industry.
The Marketing Association of Credit Unions (MAC) recognized the award winners at their annual marketing conference held May 30th-June 2nd in Austin, Texas.
The following Weber Marketing Group clients received MAC Awards:
- Allegacy Federal Credit Union in Winston-Salem, NC
- Ardent Credit Union in Philadelphia, PA
- Ent Credit Union in Colorado Springs, CO
- Firefly Credit Union in Burnsville, MN
- Fortera Credit Union in Clarksville, TN
- Leaders Credit Union in Jackson, TN
- OnPoint Community Credit Union in Portland, OR
- San Mateo Credit Union in Redwood City, CA
For more information on the MAC Awards or to view the entire list of winners, click here.
Date: Thursday, June 1st
Time: 1:15pm, and again at 2:30pm
Location: The Westin Austin Downtown
Marketers speak to their brand every day, and many of those discussions are held internally as they talk social media strategies, product marketing and more. The roadblock is that most staff members don’t know:
- What their brand is all about
- Their role in the credit union's brand
- The organization's expectations of a differentiated experience that staff should be practicing on an everyday basis to separate you from the financial clutter.
This interactive program pulls in the marketers themselves to talk about their pain points and success stories along with giving them practical tools they can take back to their organization to help turn their staff into Brand Champions.
Don't miss this session and everything else the MAC Conference has to offer.
The 2017 financial brand forum in Las Vegas is the biggest financial marketing conference in the world.
Weber Marketing CEO, Mark Weber, and Firefly Credit Union CMO, Marty Kelly, lead an invaluable breakout session on leveraging data analytics to achieve strategic brand alignment.
Date: Thursday, May 18th
Time: 9:30am, and again at 11:00am
Location: The Cosmopolitan
In a dynamically shifting world, it’s critical that your institution’s overarching strategic plan align everything together — your growth goals, the evolution of your retail delivery channels, your internal culture and your external brand experiences. If you’re not using the power of data analytics to drive these decisions and tie your strategy together, you’re behind the curve.
In this session, you’ll learn how leading financial institutions are leveraging insights gleaned through data analytics to achieve strategic clarity and improve their marketing ROI.
What You’ll Learn:
- How data-driven insights will help you build alignment among key stakeholders for your institution’s strategic plan and future vision
- How to leverage data analytics to align your brand strategy with business objectives, redefine your customer experience, and create a clear roadmap for future technology and branch plans
- How to integrate psychographic modeling, lifestyle segmentation and heat map scoring into your marketing and growth plans
- How a $1 billion financial institution uses data to bring renewed focus to their corporate growth initiatives
Don't miss this breakout session from the brightest minds in banking. To learn more and to register for the Financial Brand Forum, click here.
The Diamond Awards recognize outstanding marketing and business development achievements in the credit union industry. The awards are presented by the Credit Union National Association (CUNA) Marketing & Business Development Council, a national network comprised of over 1,200 credit union marketing and business development professionals. Awards are given in each of 30 categories ranging from advertising to community events and beyond.
Several of our clients took home Diamond Awards this year:
Allegacy Federal Credit Union:
Ardent Credit Union:
Ent Credit Union:
Firefly Credit Union:
Fortera Credit Union:
Leaders credit union:
OnPoint Community Credit Union:
San Mateo Credit Union:
Tidemark Credit Union:
Award winners were recognized at the council’s 24th annual conference held March 29-April 1 in San Antonio, Texas. For more information on the Diamond Awards or to view the entire list of winners, click here.
There is a rapid evolution occurring in the world of credit union marketing and branding—a series of fortunate events, if you will, that is elevating the strategic role and presence of marketing professionals.
In the not-too-distant past, if you’d given your marketing efforts a consistent brand look and feel, you’d done your job. Now, marketing priorities have broadened to place emphasis on integrating brand with culture and the execution of marketing strategies in a complex, dynamic and rapidly changing digital world.
The inextricable connection between brand and culture requires marketers to have an increased role organization wide, connecting all functions from operations to sales to product development to member experience.
The performance bar is at new heights. Marketers are expected to deliver well-crafted, comprehensive campaigns that generate a return on investment, create exceptional user experiences and maximize delivery channels. By necessity, the advanced knowledge and sophisticated skills required to be successful include:
- The ability to think strategically and back up ideas with execution;
- Deep, broad knowledge of financial services, consumer behavior and profitability drivers;
- Highly developed collaboration skills to help instill brand tenets, support cultural values and work to break down silos that get in the way of being a high-performing credit union;
- Marketing intelligence and ability to adapt proactively to impactful trends;
- Becoming more digitally focused, interpreting data and applying analytics, particularly to develop segmentation strategies to attract and retain profitable members;
- The ability to draw on experts, such as agencies, to fill specialized needs and manage a variety of roles and relationships; and
- Competency in all facets of digital marketing.
Unfortunately, many credit unions have not yet embraced the evolution of the strategic marketing profession. Leaders often question why, when their organization is successful, do they have to change so much? The answer is simple: What has helped them be successful in the past may not be the same thing that will work in the future. Undervaluing marketing may be a costly mistake. Credit unions with marketing efforts aligned to brand and culture find they drive efficiency and simplify their focus. That alone is worth elevating marketers to a higher profile, more strategic, executive-level role within their organizations.
Original article published on CUES Skybox Blog.
Karen McGaughey is VP Client Services and a Principal at Weber Marketing Group. She has over 20 years of experience in strategic marketing and branding and has earned the role of trusted advisor to many financial institution executives, having expertly guided their teams and Boards of Directors successfully through name and brand transformations, and marketing execution.
Join McGaughey and more thought-leaders in financial services marketing at CUES School of Strategic Marketing™ I, July 17 – 19 and CUES School of Strategic Marketing™ II, July 20 – 21, both in Seattle. Attendees will take home knowledge and skills to share with their teams and lead organizational transformation.
"Fire and rust"
Friday, March 10th, 7:30-9:30 a.m.
The world’s top CEOs lead their organizations from a brand-first perspective. At the most basic level, brand is how you are perceived by the market. Jeff Bezos said that, “Your brand is what people say about you when you’re not in the room.” It's foundational to affinity, loyalty and consumer choice. In that sense, brand is the most valuable asset that any institution possesses—a complex mix of culture, actions, identity, and marketing.
In this session, we’ll explore why some brands fuel massive growth, while others may unwittingly keep their organizations from reaching their full potential. We’ll tackle questions of strategy, structure, and examine the critical factors to building a brand on fire, versus one that simply rusts away.