2022 has been a year filled with unprecedented inflation, predictions of recession, and high financial anxiety. For many of your customers, that anxiety will only increase the closer it gets to Christmas. As their local community bank, you’re in a unique position to help. Below are some holiday marketing ideas that will help your bank grow, your customers save, your community thrive, and get everyone into the holiday spirit.
Personal Holiday Loans
The holiday season is one of the most notoriously expensive times of the year. Between buying gifts, preparing meals, and making charitable contributions, many of your customers will struggle to keep
their spending in check. Try meeting them where they are by offering personal holiday loans. Note that during the holidays, a good rate will not be your customers’ focus in the same way it might be for a home or auto loan. Instead, they’ll just want to make sure their shopping list is covered. Try promoting the amount your customers can borrow, or the low monthly payment. You may even add a grace period, like “90 days no payment.”
Gift Card Promotion
Beyond helping your customer afford their holiday shopping, you as their community bank may be able to help them complete it. Offering a prepaid gift card program is a great way to give your customers a simple and valuable gift and add value to your institution in the process. The card recipient can purchase whatever they want, making it a great gift for those loved ones hardest to shop for. ICBB, in partnership with Convenient Cards, offers prepaid card programs that will help your bank generate fee income, add value to your customer relationships, and help you defend against competing financial products.
Offer Cash Incentives
The increased need for cash during the holidays makes it an opportune time to offer cash incentives to sign up for any product or program you hope to launch. Offer a free cash bonus for customers to open a checking account, sign up for online bill pay, or close on a loan.
Get Into the Spirit on Social
The essence of your community bank is the community it serves, and what is social media if not an online extension of your community? That makes social media platforms like Facebook, Instagram, Twitter, TikTok, and others a great place to spread some holiday cheer. From cheery holiday graphics to heartfelt Christmas wishes from your staff, holiday photo contests and even creative charity initiatives, there is a lot of potential to connect people this season on social.
Find Creative Ways to Give Back
The holidays are a time of giving, and as a community bank, you’re in a great position to give back to your community. Your physical branch location could easily serve as a pickup and drop off site for food, clothing, and toy drives run by local charities. However, you can also find creative ways to give this season. For example, in 2012, Guaranty Bank hosted a holiday promotion in which they donated $1 to Big Brothers for each person who shared the hashtag #SharetheSpirit on Facebook. Initiatives like this not only allow you to make an impact but invite buy-in from your community and create brand awareness for your institution.
Open Up to the Community
Community bankers face a dilemma with the rise in popularity of online banking: meeting the digital demand while truly remaining a community bank. During the holidays, your institution has the unique opportunity to invite the community into your branch for fun family events. Host pictures with Santa and Mrs. Claus, and have your staff present to mingle with community members and give out holiday treats. This way, your community gets to know your staff and your institution, and you position yourself as a generous and valuable part of your community.
Choose a correspondent banking partner with staying power. ICBB is the only locally owned bankers’ bank left in the region, and we’re nearly 35 years strong. We serve community banks in Kentucky, West Virginia, Tennessee, Ohio, Illinois, and Indiana. Contact us at solutions@icbb.bank and see the power of a lasting partnership.