2020 — the annus horribilis — is behind us, and as financial marketers we cast our eyes hopefully to what lays ahead. Growing revenue will be critical in 2021 after the difficult economic environment of the past year, but doing so will require innovation and creativity.
Much will still be done virtually, at least for the first half of the year. The “old way” of doing business will not immediately return — if it ever does. Marketers need to embrace digital channels and new and creative ways to reach potential customers.
As such, marketing will play a critical role in driving business growth in 2021, says this article from the American Banker’s Association Banking Journal. Marketing, “will need to partner with its sales teams to create new prospect leads and business opportunities. In short, marketing is becoming the new growth engine,” the article states. “Luckily, the tools already exist to provide this assistance. They have been deployed for years outside of banking, and have been trickling into bank marketing departments over the past several years.”
The ABA article notes that financial marketers can use several strategies to accomplish this: including more intentional and ingrained collaboration with sales teams, launching smarter campaigns using data-driven targeting, and setting easily trackable goals and KPIs for success.
Whatever lies ahead for your and your team in 2021 and beyond, dear reader, we wish you the best success and look forward to continue providing you with actionable insight throughout the year.