4. Social Media
Believe it or not, a bank’s social media activity is a good indication
of the strength of its brand. Social media is the wave of two-way communication between companies and their customers.
A bank that is actively engaged with its audience on social
media can effectively address all of the points above, as social
media can be used to increase brand awareness, shape brand
perception, expand brand presence, share brand messaging
and drive to the website. Banks that are taking advantage of the
opportunities that social media provides are more likely to be
building strong relationships with their target audiences and
are therefore more likely to win in the marketplace.
First Bank (
www.efirstbank.com) does a nice job of
interacting with the customers who comment on the bank’s
Facebook page (
Whether they are compliments, complaints or general questions, First Bank always responds to its customers’ and does its
best to address any concerns. This is important in branding
because customers equate the quality of a bank’s online customer service with the bank’s in-person customer service. Banks
that exemplify good customer service across all mediums will
enhance the perception of their bank’s brand and build better
A bank’s brand is a significant indicator of the bank’s strength
in the marketplace, but of course it’s not the only factor to review
when considering acquisition. And depending on your acquisition
goals and strategy, it may not be necessary for you to acquire
a bank with a brand that meets all of these criteria—that is
something that must be pre-determined on a case-by-case basis.
But whether your bank is looking to acquire a smaller bank, or
you are a smaller bank looking to get acquired, the simple checklist
below can serve as a valuable evaluation tool to determine the
bank’s branding and positioning for growth from a marketing
perspective. For smaller banks looking to get acquired, use the
checklist to see how your bank’s brand currently fares and what
key things need to be done before positioning the bank for sale. n
ABOUT THE AUTHOR
AMANDA KARFAKIS is the president and CEO of Vitamin, a
Web and public relations agency in Baltimore, Md. She can
be reached at
firstname.lastname@example.org or (410) 732-6542.
A bank that has developed a trusted customer base
is one that is set up for success and potentially
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