CROWDSOURCING SERIES

This is the third annual installment of my financial institution marketer resolution series which I started two years ago with 'Ten Bank Marketer Resolutions for 2011' and followed up with 'Ten Resolutions that Bank Marketers Can't Ignore in 2012'.

Unsurprisingly, there are similarities from year to year as bank marketers continue to be challenged by increasing regulations, new competitors, expanding channels and products, new technologies and a much higher emphasis on measured results. In addition, the need to focus on the customer experience and find ways to generate additional revenue has become a requisite for bank and credit union marketers.

As I did for the marketing resolutions in 2012, I collected ideas from my travels across the country meeting with banks of all sizes in addition to asking industry leaders to provide insight into what they believe bank marketers should focus on in 2013. I appreciate the fantastic response I received from almost two dozen blogging, tweeting and LinkedIn friends in the U.S. and abroad who provide me with insight and inspiration on a daily basis.

Here are the resolutions that industry leaders believe are most important for financial institution marketers in 2013:

Improve Focus

The fact that I have fewer resolutions this year than in the past is intentional. While I could have easily presented 10, 13 or more resolutions for 2013, it has become apparent that the inability to focus is hampering the ability for most financial institution marketers to accomplish what is required. The noise created by multiple (sometimes conflicting) initiatives is distracting financial marketers and making it difficult to move the marketing needle for many organizations.

Tim McAlpine, president and creative director of Currency Marketing says it best in his response. "Retail financial institutions should resolve to focus. This could be a focus on a singular product or a singular type of customer. Don't forget about everything else, just put 70% of your energy into one big thing that your institution can be the best at in your marketplace."

In the same vein, Ron Shevlin, senior analyst from Aite Group and publisher of the Snarketing 2.0 blog states that, "bank marketers should resolve to NOT fall in love with every new buzzword that comes along." Knowing Ron, this would include, but not be limited to 'big data', many concepts around social media and even some marketing roles/titles. Before moving to the next 'shiny object', make sure you are doing the basics well.

Being focused should not come at the expense of flexibility, however. As Matt Wilcox, senior vice president of Zions Bank and proficient financial blogger points out, marketing plans should remain nimble and fluid. "Marketers should not fall into the trap of making a detailed calendar that must be followed at all costs. Consumers have changed and so should marketing. Seasonality will always play a role, but cater your marketing to your opportunities and go after the business that supports your overarching objectives."

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