Why Should Banks Offer Marketing Gifts?

No one loves a bank more than the bank that gives back-Say that three times fast! The basic tools of marketing are applicable to all industries, but when it comes to financial institutions, there’s a formula that works. This bank marketing formula includes a combination of offering and advertising quality banking services in conjunction with beyond excellent customer service. Because all banks offer a fairly similar array of banking services, it’s the differentiation in the customer experience that can make or break the bank.

Marketing gifts are one of the most valuable tools in bank marketing. Offering a gift to possible customers can help to attract them to your bank. Offering a gift to current customers can help them to feel appreciated for choosing you and may make them want to refer their friends to you. And finally, offering a gift, in general, can you set you apart from other banking businesses.

Offering a gift to possible customers can help to attract them to your bank. Even if a gift is refused, people appreciate being offered one. Most banks offer free lollipops or mints at their customer service counters. I don’t always want to take the candy, but I definitely like that it’s available to me if I want it. Marketing gifts can help to obtain sales or enrollment goals. By offering a gift for signing up for a specific service or for purchasing a certain product, you’ve given the customer an additional incentive for making the purchase. These incentives can help to peak interest in your business and what you have to offer.

When you give gifts to your existing clients, you send them feelers that you do appreciate their decision to bank with you and stay with you through the years. This could also lead to more new clients through referrals courtesy of your satisfied clients. The two powerful words “Thank you” is the most valuable strategy in marketing your product or service. You can say “Thank you” in many ways and one of which is giving out gifts or privileges to valued clients. When your clients receive a gift, they feel confident that they have made the right decision i.e., doing business with you for all their banking needs. Whenever you make the extra effort to do little acts of kindness, this gesture definitely goes a long way. They may even spread the word that you are the kind of bank that appreciates its clients businesses and more so one that is generous on incentives.

Offering a gift can set you apart from other banking businesses. If two banks offer the same services at the same rates, but one of them offers me a gift for signing up or purchasing, customers are going to go with the one that gives them that something extra. Marketing gifts come in all shapes and sizes, and are customizable to suit your needs and branding, but it is important to spend some time considering what is going to differentiate you from anyone else-what is going to catch the eye of the future customer or make the current customer feel appreciated. You’ll also want to consider a gift that demonstrates that you as a financial institution are spending your money wisely on a gift that demonstrates value beyond the intrinsic.

By offering a gift to gain new business, to show current customers your appreciation, and to set your bank apart from other banks, this marketing tool is a multi-valuable tool in bank marketing. Just offering a gift gives back to your bank in the form of new business and increased business from current customers. Spending money on your customers makes them want to spend money on you-Give a little, get a lot.

Incentive companies specialize in creating gifts for your clients and they provide you with opportunities to choose what design, theme, and style that you want done. Whatever the season, be it Christmas, Valentine’s Day, or an important corporate event, they can provide you with customized gifts which may even carry your label. Giving gifts or using a client incentive program can help you attract new customers and create better company-client relationships. They can help increase your customers through referrals and can even set you apart as a distinct product or service provider in the market. All these have but one outcome – a growing and thriving business.

The appropriate time to offer a client a gift doesn’t exist. It is ALWAYS appropriate to offer your client a gift! Gifts are always appreciated no matter what the situation or the circumstance. In case you’re having trouble thinking of when you might be able to utilize this marketing tool, here are a few ideas:

* Attract people to your trade show booth or conference with a gift

* Offer the opportunity to win a gift through a raffle

* Come up with a client incentive program or points system where customers can earn a gift by making a certain number of purchases or when reaching a determined time of being loyal to your company

* Compensate a recent not-so-good service or product with a peace offering such as gifts

* Give a gift to show gratitude to a client for doing business with you

* Advertise a company event or promotional sales by giving out gifts

If you want to free yourself of the burden of having to spend too much time and effort in getting more customers, maintaining good relationships, acquiring more clients from referrals, and having a distinct place in the market apart from the rest, then it is time to turn your sights to incentive companies. These seasoned companies know by heart what gifts would fit your needs and can even give you special rates for gifts ordered in big volumes. When you make your clients aware that you value them or when you get their attention through gifts that are very distinct be it at a promotional event or conference, you are actually employing a valuable marketing strategy. Always keep this in mind – anytime is the right time to offer a gift and make your clients feel appreciated.

We have an extensive background bank marketing, and devote time to write about this topic in order to help businesses enjoy its benefits. Get in touch with us now for more information about how to give marketing gifts to your customers.

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