You are the custodian of your brand. That includes everything that influences how people feel about your bank or credit union. From customer experience, branch location/look and feel, and concrete elements like logo and messaging.
The first touch for new customers is often your digital advertising. Here are two things to try as part of your workflow to improve performance.
First - look at what's working for others
Whether from personal pride or a misplaced sense of fairness, you must overcome any reluctance to copy success.
In digital advertising, we enjoy an embarrassment of riches in transparency. Meta led the way with their Ads Library, which enables anyone to search current commercial ads (and historical political ads) across their ad network, including Facebook and Instagram. Google and Tik Tok have similar but less developed ad libraries.
These tools allow you to look at what competitors or other companies that serve your target audience use to engage with customers. You can see creative, including images, videos, and ad copy. For some libraries, you can also see the landing page they’re directing to is applicable.
While there aren’t metrics or other indicators to show the better performing ads, you can get clues. Meta’s library for commercial ads only shares what is currently being served. However, ad launch dates are shown. It’s a good bet that longer running ads are doing pretty good for the advertiser. These ads are an excellent place to look for ideas and benchmark your ads’ look and feel.
Second - simplify your copy
I’ll turn this one over to always high energy and jacked marketing guru Alex Hormozi…
Using a tool like the Hemingway App is an easy, and also free, way to simplify the language of your ads. Reducing the length of words is a start. Reducing the length of words is a start. Splitting up sentences also helps. Avoiding adverbs and using active voice is the closer. Over all this can make your ad copy easier to read.
So those are two accessible things you can do today to increase the effectiveness and efficiency of your paid acquisition channel. Still have questions? Grab time here for a quick call to talk about other best practices community FI’s engage in and where your organization would benefit from adopting them.