Consumer Education Initiatives Lend Credibility to Loan Marketing

Most consumers are desensitized to traditional marketing campaigns. They're also more cynical, wary and untrusting. Why? Advertising overload. They are no longer "wowed" by full-color, glossy ads or direct mail. Improving consumer education can increase loan marketing ROI.

(PRWEB) October 30, 2004 -- Most consumers are desensitized to traditional marketing campaigns. They're also more cynical, wary and untrusting. Why? Advertising overload. They are no longer "wowed" by full-color, glossy ads or direct mail. Almost everything they read is simliar in content, format, and design. Brochures and letters start looking and sounding the same; consumers are simply too accustomed to this barrage of sameness. Yet, somehow, your materials still must compete in this crowded environment.

But how?

You must differentiate your offerings from the standard, over-done formats.

Consumers are inundated on a daily basis with junk e-mail, billboards, radio spots, TV ads that seem to always be louder than the scheduled programming, junk mail, junk faxes, etc, etc.

What can banks, credit unions, and financial services providers do to re-establish consumer trust? You can start by not making the hard sell: by not being among the multitude of service providers who hound consumers with a sales pitch and an offer. You will increase credibility in your consumers' eyes if you are seen as an 'ally' looking out for their best interests, rather than an 'advertiser' looking for their money.

This trust and good will can be established in a number of ways. Providing educational material without the hard sell is a good start. This assures your customers and prospective customers that you want them to be well informed about decisions affecting their financial well-being, no matter what vendor or provider they choose. For instance, sending a booklet of useful, educational information, or even a paper interest rate calculator, or other premium, will elevate your position in their minds.

You might also cconsider an alternative to the usual Christmas card campaign. Such over-done campaigns are not only lost in a sea of other cards and offers arriving simultaneously, but they are often passed-over for handwritten cards and other pressing holiday mail; your efforts and good investment are often lost.

By thinking through and planning your marketing initiatives as consumer education initiatives rather than advertising campaigns, you will gain the consumer trust needed to increase your bottom line and your marketing ROI. And for your efforts, you just may get a few more "Thank You"s this holiday season, as well.    

Mark Bottita is publisher and managing editor of Bank Guides consumer education booklets. He can be reached through the Bank Guides website at www.bankguides.com

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