APRIL 15, 2020

Connecting our community!

There's a lot of great work and pride in our financial marketing community as we manage through this crisis. Stay in touch with CFG and your peers as we bring you weekly news and expertise!

Miss our previous editions of STAYING 'n TOUCH? 

This week's stories from your CFG colleagues
Working from Home (WFH)
Marketing can operate remotely, shared one senior marketer, while admitting that she missed her headset and dual monitors! Working from home increases security risks, however. Employees are encouraged to protect their tele-communications.

Marketers are working harder and longer hours than ever to keep up with client needs with as much transparency as possible. Marketing leaders are increasing efforts to balance wellness and mental health with the increased workload and pressures of working from home.

We’re beginning to ponder the future. Will WFH become the norm? How will we aid clients as their business’ experience greater stress post-crisis? What will be our corporate social responsibility going forward? How will we adopt a new sensitivity as a financial company?

Top Marketing Priorities right now
Distribution Channels: Email, website, portals being used to provide content updated constantly, including COViD resources from the government. Clients are hungry for information and joining webcasts and listening to podcasts at a high rate. Questions are arising now about upcoming industry events and marketers are working with their lines of business to determine participation.

Communications & Tools: Business continuity plans for the bank continue to be a communications priority, as banks assure clients’ confidence in their bank’s health. Cyber-fraud is at the forefront given the Stay Home orders. Banks are providing tools kits to clients that increase their sensitivity to potential risks in supplier/vendor relationships, employees WFH and digital business.

Researchers are studying behaviors closely during this crisis. They’re looking at the changes in behaviors as indicators of a new normal and how financial institutions can help. For example, how will branch transactions change post-crisis as more people will be unwilling to visit branches.

Researchers continue to field quantitative surveys while talking to customers virtually more routinely now. In their talks with small businesses, they are not surprised to learn of business’ ongoing financial concerns and the possibility of closing their companies. Otherwise, research continues to help marketing design communications with fresh and unique insights; help product and service groups apply innovation based on what customers want and will want; and, measure the impact of the crisis and government program handling on their brands.

In our Treasury Marketers Group meeting yesterday, members shared their pride in our community of banks coming together to help customers. The industry as a whole is working with the government to ensure that they have the necessary information to provide funding to their clients. Marketing teams are providing content for their sales teams to work with clients directly. Sales teams are in close touch with clients with virtual meetings up 30% in some cases. Some banks are teaming up with thought-leaders to create a level of comfort with clients as they experience unprecedented economic stress.

Communication and messaging are critical across all customer segments! Center State Bank offers the following advice on marketing. We think that this
blog post frames the marketing issue well.

The creation of explainer videos, graphics, blog posts, and more needs to be produced immediately - content abounds. Bankers not only need to work closely with marketing, but bank marketers need to step of their game and learn this new product. No marketing professional should be waiting around to be told what to do. Now is the time for organized action and creativity. Marketing doesn’t stop after the loan is funded either, banks should ready weekly messaging to help keep PPP borrowers informed and to make sure they can take full advantage of forgiveness. This not only helps the small business but helps the bank as well, and our guess is that with a little marketing, banks can improve performance for everyone.


NEW! Weekly Poll

How likely is it that Work From Home (WFH) will become the norm in our banks? 
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This week's

Modern Finance's history traces to a curious beginning: Apple Inc. 
Our new normal post-COVD 19 may trace its origin to something completely unrelated to banking!
by Dan Simon, Vested

Read Dan's Story about Finance
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Corporate Financial Group, Inc. · 13537 US Highway 1 · Suite 122 · Sebastian, FL 32958 · USA

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