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AMERICA’S COMMUNITY BANKERS PUBLISHES | ||||||||
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- Regardless of institution size, a full-time marketing staff person increases the amount of marketing produced by the bank even if the bank outsources marketing functions.
- Few banks have instituted or plan to implement a customer relationship management system. Only 26 percent of community banks reported they have a CRM in place while another 26 percent plan to implement one in the next two years.
- Paid newspaper advertising is the most popular marketing strategy employed by community banks, with 94 percent of the banks reporting that they use this medium.
- Corporate branding is a growing area of emphasis for community banks, particularly as they increase in size.
- Having a board marketing committee did not appear to be a driving force for increased marketing, per se. However, some key areas, such as media/community relations and marketing planning strategy showed significantly more activity when a committee was in place at a bank.
- While most banks (86 percent) reported having a separate marketing budget, these budgets are modest, at less than 0.1 percent of assets. As budgeting is of great importance to community banks, the survey results were supplemented with data from FDIC Call Reports and OTS Thrift Financial Reports.
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