In the era of digital dominance, traditional media channels may seem like relics of the past. However, savvy bank and credit union marketers are realizing that these channels can still be powerful tools in reaching audiences effectively. When used in tandem with digital marketing strategies, traditional media like TV, radio, print, direct mail, and outdoor advertising can enhance your finance marketing campaigns and provide valuable opportunities to connect with your target audience.
“Over the years, I’ve seen digital budgets grow substantially – often cutting into the traditional media budget,” says Krista Clark, a media specialist with more than 20 years of experience in the industry. “While digital buys can target very specific audiences, traditional media still carries a lot of weight and power in driving the consumer to the website for more information.”
Let’s delve into the various traditional media channels and discover how they can be effectively used in finance marketing.
Billboards provide a larger-than-life canvas to showcase your message. In today’s digital age, digital billboards offer vibrant and dynamic displays that can be updated with ease. Consider leveraging billboards strategically in high-traffic areas to raise brand awareness or promote specific financial offerings.
Sample strategy. Use digital billboards located in busy downtown areas or along high-traffic roadways to publicize:
- New branches and locations
- Give directions to a branch
- Awards or new products
- An upcoming cosponsored community event
Cable TV allows for highly targeted advertising based on geographic zones and specific demographic audiences. By selecting networks that align with your target market’s interests, such as CNBC, Bloomberg, or financial news channels, you can ensure that your message reaches the right viewers. Remember that cable TV is often purchased in tonnage due to its fragmented viewership, so plan your media buying accordingly.
Sample strategy. Specifically target audiences to promote:
- New rates
- Special offers
- General brand messaging
Streaming TV (OTT)
Over-the-top (OTT) streaming platforms have gained immense popularity, and they offer precise targeting capabilities. With OTT, you can reach viewers based on ZIP code, county, age groups, and other parameters. Take advantage of analytics to understand viewers’ preferences and behaviors, and tailor your ads accordingly. Platforms like Netflix, Hulu, Paramount+, and YouTube can help you connect with audiences across multiple devices.
Sample strategy. Specifically target an audience to publicize:
- Special rates
- New products or services
- Your brand message
Traditional radio advertising remains a trusted and effective medium for reaching a diverse audience. You should also consider streaming radio, which offers advanced targeting options. By choosing the right radio format, such as financial talk shows or podcasts, business news, or economic analysis, you can engage listeners during their daily routines. Thirty and 60-second commercials allow you to convey your message effectively, and leveraging local deejays or podcast hosts as voice-over talent can create personal and trustworthy testimonials.
Sample strategy. Consider sponsoring a talk show or podcast segment to promote:
- New products or services
- New branch openings
Magazine and print advertising provide tangible experiences that captivate readers’ attention. Consider partnering with finance-specific publications or local business magazines to target your desired audience effectively. Craft visually compelling ads that convey your financial services and leverage the unique benefits of print media.
Sample strategy. Advertising in publications’ special issues (like business finance, homebuying, retirement) can be very effective in promoting your brand through:
- Aligned products, like mortgages for a special issue on homebuying
- Customer testimonials
Despite the rise of digital communication, direct mail remains an effective way to reach potential customers. Tailor your mailings to a specific demographic or ZIP code to increase engagement and response rates.
Sample strategy. Consider using direct mail to enhance your brand by sharing:
- Exclusive promotions
- Personalized offers
- Branch locations to new movers
Transit advertising encompasses various mediums, including buses, taxis, bus shelters, train station posters, and digital screens. These channels offer extensive exposure to both pedestrians and drivers, making them hard to miss. By strategically selecting train and bus routes, you can target specific geographic areas and demographics effectively.
Sample strategy. Promote products and services designed to help people:
- Build wealth
- Afford a car
- Bank easier
The Importance of Planning
According to Clark, “The essence of successful advertising is planning. Media buying is the executional aspect of the media plan. However, it is more than just the actual purchase of advertising space or time; it is understanding the target audience and the product itself. It is understanding people’s media viewing habits and how the target audience goes about their daily business, how they react to the world around them.”
At Lightstream, we specialize in managing all aspects of media marketing, including traditional and digital channels. We understand the unique benefits that each medium brings to the table and can help you craft a comprehensive strategy that maximizes your marketing impact. What’s more, we don’t charge markups, ensuring transparent and cost-effective media buying.
Ready to harness the power of traditional media in your finance marketing campaigns? Contact us today to learn more about our services and start reaching your target audience effectively. Together, we can create a winning strategy that combines the best of traditional and digital media to achieve your marketing goals.