Whether you are developing a marketing strategy for a bank, credit union or some other financial institution,you know that a strong cost efficient strategy is key.
I, Drew Palmer, have spent the last 25 years perfecting a process I’ve named the “Palmer Process.” We follow this process very closely at Palmer, as it has proved to be effective and delivers results.
This nine-point process has been utilized with countless financial clients with consistent success and can be tailored to suit the needs of virtually any marketing plan.
Step 1: Communication. The relationship that we have with you is not a marketer-client relationship, rather a sincere collaboration in which we listen to your goals and needs and customize our strategy to satisfy your specific objectives.
Step 2: Objectives. After we have a foundational understanding of your financial institution’s structure and business development approach, we delve into your marketing objectives. We recognize that each bank or credit union has unique marketing objectives, and we will apply the resources and personnel necessary to achieve them.
Step 3: Evaluation. Your business is operating under a unique set of circumstances that requires careful examination. As we analyze the market your financial institution is operating in, we develop a unique marketing plan that considers your present situation as well as what is on the horizon.
Step 4: Research and Market Understanding. We analyze the financial business environment continuously so that we can understand even minor factors that might present challenges to implementation of a successful financial marketing campaign. Our researchers will carefully examine the position of your financial competitors so that we can predict their most likely marketing strategy and how it can interfere with ours.
Step 5: Strategic Development. We work closely with your management team so that they can produce a marketing strategy that is sustainable over the months and years ahead. The central tenet of our approach is to elevate your brand so that consumers recognize and appreciate the high quality of your financial products and services.
Step 6: Creative Development. The heart of our approach is producing an appealing, innovative marketing strategy that sets your financial institution apart from your competitors.
Step 7: Creative Refinement. We recognize not every idea is going to provide the results you desire, so we present several creative proposals to your management team and take to heart your feedback.
Step 8: Media planning. We will dedicate our enormous professional resources to the development of an effective program that enables your bank or financial institution to strengthen existing relationships and produce new ones, and we will do so on your schedule.
Step 9: Accountability. We are eager to show you how our process is delivering new customers and enhanced revenue for your financial institution, so we will provide verifiable analytics that demonstrate it is producing the ROI you expect.
The Palmer Process is a singular marketing strategy that will enable your financial institution to become a successful leader in its market. We urge you to follow these steps when developing your marketing strategy. We pride ourselves on having helped our many financial clients achieve new heights of success. We can help you too!
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