Opening a new branch is a huge investment — a new build can run into the millions. Most banks do the demographic research, study the traffic patterns, and pick the right spot. But then when it comes to actually marketing the thing? They show up with a grill in the parking lot and call it a grand opening.
In this episode, Dan and Chris break down what a real new-market launch strategy looks like — from competitive analysis before you open the doors, to turning your grand opening into a community event people actually want to attend, to the longer game of establishing your brand in a market where nobody knows you yet.
In this episode, we cover:
- – Why your marketing research should go beyond demographics — and what a competitive messaging analysis reveals that HHI data won’t –
- – The difference between opening a second branch in your market vs. entering a brand new one
- – How to turn a grand opening from a bank celebration into a real community event
- – What the grand opening marketing timeline should look like
Resources:
– The Bank Marketing Show: www.bankmarketingshow.com
– The Bank Marketing Minute (Newsletter): www.bankmarketingminute.com
– Contact: [email protected]