Our own Derek Baker was recently interviewed for an article featured in Independent Banker
magazine. In his interview, he shared valuable insights on how community banks can view
marketing as an investment rather than an expense, and how effective marketing is essential to
acquiring new business and boosting growth.
Here’s a key excerpt from the article, Traditional Advertising's Place in Community Bank Marketing:
Marketing: First to go, but best to grow
“During budget time, it’s often the marketing expenses that get cut first — but that’s a mistake,”
says Derek Baker, Executive Vice President of Growth and Innovation for financial marketing agency Mills
Marketing. While marketing may seem like an easy way to tighten your belt, it’s also your
strongest tool for acquiring new business. “The brands that aren’t slowing down, the ones that
get it, either maintain or grow their budgets,” says Baker. “When you’re measuring
appropriately, when you’re using the data, when you’re providing the information, when you’re
tracking as much as you possibly can, you can start to tell better stories, which can help you
advocate for your budget.” Marketing should be viewed as an investment, not an expense, he
adds.
Click here to read the full article.
We’re thankful to Independent Banker for giving Derek the opportunity to share his knowledge.
#CommunityBanking #MarketingStrategy #BusinessGrowth
