It is essential for banks to keep up with advances in technology and to stay relevant. However, while younger customers may prefer online banking, many older customers prefer traditional banking. Financial institutions have to find the right balance between traditional marketing and digital marketing so that they can reach all segments of their audience. In this episode, Dan Novalis, Chris Bates, and Shannon Aker discuss the importance of investing in technology and balancing both traditional and digital marketing methods. Shannon Aker shares his expertise from 35 years in the banking industry with insight into how banking is a service industry, and putting a personal touch on service is what makes a bank stand out from the competition. Topics Include:
- Community loans
- PPP loans
- Commercial lending
- Newspaper & radio marketing
- Balancing traditional & digital marketing
- Targeting your audience
- Providing a personal touch
- Investing in technology
- Community banking
- Online banking
- Protecting your customers
- Megabanks
- Banking is a service industry
- And other topics…
Shannon Aker is the president of the Bank of Brookhaven in Brookhaven, MS, where he has worked for 21 of his 35 total years of banking experience. Shannon recently completed a term on the board of directors for the Mississippi Bankers Association. He has been involved in leading numerous community improvement organizations over the years.
- Personal Best: Being voted the best banker in Brookhaven.
- Business Best: Being voted the best bank in Brookhaven.
- Favorite Book: The One Minute Manager by Ken Blanchard & Spencer Johnson, The Pilgrim’s Progress by John Bunyan
- Most Impactful Advice Received: 1) You do what you want to do. You can have great plans, but are you going to do the work? 2) It’s not about you.
- Advice for Staff: Listen to the customers and put yourself in their position, and they will leave happy.
Resources Mentioned:
- Bank of Brookhaven Website: https://bankofbrookhaven.com/
- Podcast Website: The Bank Marketing Show