Mary Ellen Slayter, managing director of Reputation Capital Media Services in Baton Rouge, La., says email newsletters can be very effective target marketing tools, but banks should be careful to not limit them to content solely about their own products and services.
“Sometimes it’s better not to be obvious,” Slayter says. “It’s not necessary to have content about small business banking, but about other concerns, such as taxes, human resource issues, productivity issues. They just appreciate advice from a trusted, reliable business partner, and so a bank needs to set itself up as one.”
Memphis, Tenn.-based First Horizon National Corp., parent company of First Tennessee Bank, follows that rule and posts additional articles and whitepapers on its newsletters and website, such as a recent article on its Treasury Connect Magazine entitled “6 Steps to Building a Solid Working Capital Plan,” accompanied by the whitepaper (see the image in the mediaplayer to the right).
Email newsletters are also “easy to consume on-the-go” via mobile devices, something Slayter says business customers especially appreciate. And they can have a “compound effect” with social media.
“If an email has links to a bank’s website or blog and people like the content, they will share it on their social networks as long as it’s good, strong editorial content,” Slayer says. “A good email newsletter drives traffic back to a company’s website more than any other tool around—there’s nothing that beats it.”