Many banks market to new homeowners to open new accounts.
A survey released by TD Bank showed that more than a fourth of South Floridians move their money when they move to a new home.
According to the survey, six of 10 Floridians aren’t willing to drive more than 3 miles from home to bank. Nationally, 69 percent of Americans will go up to 5 miles.
Even though online banking continues to grow in popularity, most home owners still want a bank close by for non-routine banking and consulting.
Banks who market to New Homeowners in a 5 mile radius around their branches can grow their account base by reaching the right people at the right time.
Weekly and monthly new homeowner lists give banks an edge over the competition.
How do Banks attract new customers?
American Express Trends & Insights, posted these 7 suggestions in June, 2019:
- Identify Your Ideal Client. It’s easier to look for customers if you know the type of consumers you’re looking to attract
- Discover Where Your Customer Lives. In this case, within a 5 mile radius
- Know Your Business Inside and Out
- Position Yourself as the Answer to their Problems. You are the solution!
- Try Direct Response Marketing. Obviously, this answer is the one most that resonates with me – so I am expanding on this.
- Your best bet for reaching out and touching customers is to use tactics to encourage them to complete a specific action, such as opt into your email list or request more information.
- Create messages directed at your target market. Learn to create ads that attract your ideal clients by giving them something of value for free to get them started in your funnel. Learn all you can about direct response marketing practices, because they will teach you to focus on results that matter. Create compelling messages that tell your ideal audience why they’d have to be a fool not to work with you. Show them you understand their pain, and can make it go away faster and cheaper than they could without you.”
- Build Partnerships
- Follow Up
One more new trend for banks to consider – geofencing. This is digital display advertising targeting homes in a given area, new homeowners on the banks list, or people at competing banks.
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