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Bank Marketing Strategies & How to Write a Bank Marketing Plan (+ Template)


There are many different ways to market a bank. Some banks may focus on traditional marketing methods, such as advertising or PR. Others may focus on digital marketing, using the internet and social media to reach their customers.

As the owner of a bank, you know that having a good marketing plan is essential to your success. After all, without customers, your business will not survive.

But what goes into a good marketing plan? This article will discuss the critical components of a successful marketing plan for a bank.

Critical Components of a Bank Marketing Plan

A great marketing plan has eleven sections as follows:

  1. Executive Summary
  2. Target Market Segments
  3. Unique Selling Proposition (USP)
  4. Pricing and Positioning Strategy
  5. Distribution Strategy
  6. Offers
  7. Marketing Materials
  8. Promotions Strategy
  9. Digital Marketing Plan
  10. Conversion, Referral, and Retention Strategy
  11. Financial Projections


Executive Summary

The executive summary is a brief overview of your entire marketing plan. It should include your overview information from the other sections, such as your target market, unique selling proposition, key promotions strategies, and financial projections.


Target Market Segments

When marketing a bank, it is essential to identify your target market segments. Who are your most likely customers? Consider age, gender, income, location, and lifestyle factors when determining your target market segments.

For example, bank business customers may include small business owners, entrepreneurs, freelancers, or anyone who needs a business bank account.

Break down each of these segments by considering their needs, wants, and pain points. For example, the needs of bank business customers may include a business account with low fees, good customer service, and easy access to cash.

By understanding your target market segments, you will be better equipped to create marketing messages that resonate with them.

Create a winning marketing plan quickly & easily with our Ultimate Marketing Plan Template.

Unique Selling Proposition

Your unique selling proposition (USP) sets your bank apart from other bank businesses. What do you offer that nobody else does?

For example, your bank may offer free checking, no minimum balance requirements, or special rates for businesses.

No matter what your USP is, make sure it is clear in your marketing materials. Your customers should be able to see immediately what makes you different from the other business in their area.


Pricing and Positioning Strategy

Your target market segments and unique selling proposition will determine your pricing and positioning strategy.

For example, if you target small businesses, your prices may be lower than the average bank. Or, if you are targeting high-net-worth individuals, your prices may be higher.

No matter what your positioning strategy is, make sure your pricing strategy is competitive. Consider conducting a market analysis to see what your competitors charge for similar offerings.


Distribution Strategy

Your distribution strategy will determine how you get your products and services into the hands of your target market. For example, there are many options for distributing a financial product, such as through a brick-and-mortar bank branch, online, or a mobile app.


Consider the needs of your target market when determining your distribution strategy. For example, if you are targeting small businesses, you may want to offer online and mobile banking options for their convenience.



Providing offers through your business is a great way to entice customers to purchase. For banks, common offers include special rates, waived fees, or cash bonuses.

When creating an offer, make sure it is straightforward. The last thing you want is for customers to be confused about your offer and how to take advantage of it.


Marketing Materials

Your marketing materials should be based on your unique selling proposition and target market segments. They should be designed to grab attention and generate interest in your business.

Some marketing materials you might want to create include product brochures, flyers, and website banners. You will also want to make sure your branding is strong and consistent across all of your marketing materials.


Promotions Strategy

Your promotions strategy includes the methods you will use to attract new customers. It should generate excitement and encourage customers to try your business. 

Bank businesses should consider the following promotional strategies:

  1. Hosting special events such as workshops, seminars, or mixers to bring potential customers together.
  2. Offering free consultations to help people choose the right bank account or investment plan.
  3. Creating informative blog posts or videos on financial topics that are relevant to your target market segments.
  4. Sponsoring community events or causes that your target market segments care about.
  5. Participating in trade shows or conventions related to banking or finances.
  6. Offering discounts or coupons to customers who open a new account or make a certain number of transactions.
  7. Holding contests or giveaways with prizes that would be appealing to your target market segments.
  8. Collaborating with other businesses in your industry to cross-promote each other.
  9. Creating a loyalty program to encourage customers to keep doing business with you.


Digital Marketing Plan

In today’s digital age, it’s essential to have a solid digital marketing plan. This will help you reach a wider audience and drive more traffic to your business.

Some digital marketing tactics you might want to use include search engine optimization (SEO), pay-per-click advertising, social media marketing, and email marketing. You will also want to make sure your website is mobile-friendly and easy to navigate.

Bank businesses should consider the following digital marketing strategies:

  • SEO: Optimize your website for search engines to appear higher in the results pages.
  • PPC Advertising: Pay to have your website appear as a sponsored link in search engine results.
  • Social Media Marketing: Market your business on social media platforms such as Facebook, Twitter, and LinkedIn.
  • Email Marketing: Send promotional emails to customers and potential customers.
  • Website Optimization: Make sure your website is mobile-friendly and easy to navigate.
  • Content Marketing: Create informative blog posts, articles, or videos on financial topics that are relevant to your target market segments.
  • Lead Generation: Collect contact information from potential customers to market to them in the future.
  • Remarketing: Market to people who have visited your website but didn’t make a purchase.
  • Referral Marketing: Ask customers and partners to promote your business to their networks.

Download our Ultimate Marketing Plan Template to quickly and easily complete your marketing plan.

Conversion, Referral, and Retention Strategy

Your conversion, referral, and retention strategy should be designed to keep customers coming back. Consider offering loyalty rewards, referral discounts, and other incentives to encourage customers to continue using your business.

You will also want to make sure your customer service is top-notch. Respond quickly to any complaints or concerns, and always go above and beyond to exceed customer expectations.

Bank businesses should consider the following conversion, referral, and retention strategies:

  1. Offer loyalty rewards, such as discounts or bonuses for customers with a certain number of monthly transactions.
  2. Create a referral program that rewards customers for referring new business to your bank.
  3. Offer special discounts or deals to customers who renew their bank account or investment plan.
  4. Send periodic email updates with helpful financial tips or exclusive offers for customers.
  5. Host events or webinars on financial topics that would be of interest to your target market segments.
  6. Provide excellent customer service and respond quickly to any concerns or complaints.
  7. Go above and beyond to exceed customer expectations.


Financial Projections

Lastly, you will need to create financial projections for your business. This will help you track your progress and ensure you are on track to meet your goals.

The key information to include in these financial projections are your monthly marketing expenditures and expected sales. Be sure to update your forecasts regularly to reflect any changes in your business.

Financial projections for a startup bank business may include:

  • Monthly marketing expenditures
  • Expected sales
  • Number of new customers
  • Average transaction value
  • Operating expenses
  • Profit margins


Build Your Bank Marketing Plan

Remember, your marketing plan is a living document that you should update regularly as your business grows and changes. Use our outline as a starting point, and be sure to adapt it as needed to create a plan that works for your business.

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