Subscribe to The Financial Brand via email for FREE!Earlier this month, The Financial Brand conducted the “2009 Strategic Brand Challenges Survey for Financial Institutions.” The findings? Retail banks and credit unions are — not surprisingly — worried about a tough economy, and will be concentrating their energies online to retain, attract and acquire relationships over. Read More about 2009 Strategic Brand Challenges Survey
Subscribe to The Financial Brand via email for. Read More about Datahead: Facts From Around the Financial Industry
Subscribe to The Financial Brand via email for FREE!Percentage of consumers who have heard something from the financial industry but felt more negative. — Edstrom Worldwide Percentage of consumers who have heard something from the financial industry but felt more positive. — Edstrom Worldwide Percentage of consumers who have received no direct communications from anyone. Read More about Datahead: Research from Around the Financial Industry
Subscribe to The Financial Brand via email for FREE!The Financial Brand used Google Trends to see how the economic crisis was affecting people’s feelings about their finances and the general state of things. The Google Trends tool searches Google’s records to see how often people search for certain terms. It graphs out the relative frequency. Read More about People Looking for a “Silver Lining” But Buying “Ammo”
Subscribe to The Financial Brand via email for FREE!$500 billion FDIC bailout forebodes massive failures Late last week, the U.S. Senate proposed to allow the FDIC to borrow as much as $500 billion from the Treasury Department. While the mainstream media obsesses over the seemingly never-ending stream of colossal bailouts pouring out of Washington, another. Read More about Massive Bank Failures Must Be on the Way
Subscribe to The Financial Brand via email for FREE!Financial Trademarks 1976-2008 In 1996 there were just 67,000 Class 36 trademarks on file with the USPTO. But in the last decade, that number has more than tripled. Today, there are around 250,000 registered financial trademarks. In 2008, the financial industry saw the largest increase in financial. Read More about Get Your Financial Trademark Now, Before It’s Too Late
Subscribe to The Financial Brand via email for FREE!When financial marketers bring up new media tools, it’s quite common for CEOs to ask questions like, “What’s the ROI of having a blog?” Marketers say, “It doesn’t cost anything” (which isn’t really true). From there, the argument often devolves into subjective differences and a matters of. Read More about The New Art of Measuring Marketing’s ROI
Subscribe to The Financial Brand via email for FREE!“Deposits are the lifeblood of banks.” — Bob Chapman, President Bank of the James These days, you hear about a lot of financial institutions seeing huge increases in their deposits. Some financial institutions are seeing their deposits double over last year. Even JPMorgan Chase, an international megabank,. Read More about Your Deposits Are Up… So What?
What do you want to see more of in 2009 from The Financial Brand? Share your 2¢ in the comments below. The 10 most-read stories at The Financial Brand in 2008 are (in order): Dallas credit union to launch Young & Free knockoff The Biggest List of Financial Slogans Ever When will the media’s infatuation. Read More about 2008: The Year in Review
Subscribe to The Financial Brand via email for FREE!Growing Deposits in the Digital Age. That’s the title of this Online Banking Report, authored by your host and editor here at The Financial Brand, Jeffry Pilcher. The report includes 72 pages of ideas, tactics, and strategies to grow retail deposits while building your brand: Customizable accounts. Read More about Growing Deposits in the Digital Age
Subscribe to The Financial Brand via email for FREE!Nielsen just released its ad spending data comparing the first three quarters of 2008 to 2007. In the financial industry, advertisers have already made significant cuts, with presumably more to come in 2009. Company Ad Spending (in millions) % 2007 2008 Experian $273 $297 8.70% Visa $274. Read More about Financial Services Ad Spending Drops 10% in 2008
Subscribe to The Financial Brand via email for FREE!To better understand Gen X and Gen Y’s current and future financial situation, the American Savings Education Council and AARP commissioned a survey with members of these two generations. The online survey of 1,752 Americans ages 19-39 was conducted back in January 2008. This research found that:. Read More about What Gen X, Gen Y Think About Their Financial Situation
Subscribe to The Financial Brand via email for FREE!The average marketing budget for most financial institutions (banks or credit unions) at any asset size should be around 0.1% of total assets. BofA, at $1.9 trillion, budgets $2.0 billion for marketing which is almost exactly 0.1%. Many factors affect this guideline — up or down —. Read More about Credit Union Marketing Budgets: Too Much, Too Little?
Subscribe to The Financial Brand via email for FREE!Here’s the FBI’s latest data on robberies of financial institutions for the first three months of 2008. Type of Institution Robberies % Commercial bank 1,399 87.2% Mutual savings bank 32 1.9% Savings and loan 41 2.6% Credit union 132 8.2% TOTAL 1,604 100% Mode of Robbery #. Read More about Robbery statistics for Q1 2008
Subscribe to The Financial Brand via email for FREE!Please Note: This article contained survey polls that are no longer available. Our. Read More about What Does The Future Hold For Paper Checks?
Filene just released an interesting study called “Who’s Joining Credit Unions.” Of particular interest is data that suggests a paradox between how people feel about branches and how they actually use them. While credit union members think they need a branch nearby, the data tells a different story. According to the report, the majority of. Read More about The “Convenience” Paradox
Subscribe to The Financial Brand via email for FREE! Member Growth: +1.3% to 88 million Savings: +7.0% to $676.9 billion Loans: +3.7% to $546.4 billion Investments: +17.3% to $167.0 billion Assets: +6.5% to $802.5 billion Net Worth: +5.62% to $88.6 billion First Mortgage Loans: +10.1% to $198.1 billion Other Real Estate Loans: +1.7% to $92.8. Read More about First Half of 2008 Shows Growth for Credit Unions
Subscribe to The Financial Brand via email for FREE!There’s an old adage in financial marketing: “It’s all about the rate.” Recent evidence from two different case studies suggests that’s wrong. Case Study #1 Take BankWest’s promotion to launch a new savings account, where they tested two versions of their online ads. Both versions of the. Read More about Rates Aren’t As Important As You Think
Subscribe to The Financial Brand via email for FREE!Here are the results from the latest effort to determine which financial institutions have the strongest brands, this one from Bancography. Banks with assets > $30 billion Wells Fargo Bank, MN U.S. Bank, MN The Northern Trust Company, IL Union Bank of California, CA PNC Bank, PA. Read More about A Fresh Stab at Ranking Financial Brands
Here is the FBI’s official data on robberies of financial institutions, including injuries and deaths for 2006. TOTAL NUMBER OF ROBBERIES: 6,985 Bank robberies: 6,154 (88%) Credit union robberies: 521 (7%) Other (e.g., check cashing): 372 (5%) INJURIES: Number of incidents in which injuries occurred: 94 (1.3%) Customer: 17 Employee: 75 Employee Family: 0 Perpetrator:. Read More about Freeze! The Cold Hard Facts on Robberies 2006
Subscribe to The Financial Brand via email for FREE!A study by Bigresearch says this is what people do when TV commercials come on: 41.2% of viewers take a peak at what’s on other channels 33.5% talk with others in the room or by phone 30.2% mentally tune out 5.5% pay attention to commercials TV’s influence. Read More about Datahead: Facts on TV and online financial ads