Community Banks Start, Expand Bank Club Programs With Online Tools

Community Banks Early Trend Setters In Senior Marketing

Minneapolis, MN August, 2003 -- Hometown Banking Collaborative, an Internet marketing services provider for banks, has just released its first Online Video Book outlining an array of Bank Club services.

This release is part of a growing trend of community banks utilizing the Internet to communicate with and promote to their customers. The trend reflects the way banks merge successful loyalty programs developed in the 80's and 90's with Internet communication.

Long before senior marketing became a buzz word, community banks had discovered the potential of this lucrative and expanding population segment. Typically, Bank Clubs offer members special services and programs such as lifestyle benefits, travel, education, etc. These create opportunities for cross-selling other bank services and generation of ancillary fee income.

Bank Clubs significantly increase customer loyalty and make the bank a convenient "one-stop" location. Clubs also offer the opportunity to attract new customers with new deposits, enhance the bank's image and boost employee morale.

"Establishing a club could be one of the smartest and most enjoyable steps a bank can take," says June Opstock, Business Development Manager of Hometown Banking Collaborative.

"During the 80's and 90's, thousands of banks successfully launched senior clubs. With their caring Club approach, community banks have made their customer base almost impregnable to competition from technologically more advanced big banks and financial services providers with aggressive marketing programs."

Internet Provides Ideal Vehicle For Expansion Of Bank Clubs

Community Banks have enjoyed successes with bank club programs, but the projects are work-intensive. Outstanding customer service, combined with activities such as bank-sponsored trips, seminars, parties, etc. require time and money. Many banks have therefore settled for a profitable status quo of their Clubs rather than expansion.

Internet technology has changed the landscape for banks in two important ways. First, service providers are now offering ready-made, Internet-based solutions eliminating the need for banks to shoulder many tasks themselves.

Executive Tour & Travel Services, for example, a Daytona Beach, FL travel firm, not only offers incentive travel to Bank Clubs to enhance new Account Openings. They also provide marketing services including co-branded websites for banks. This leaves the bank's marketing manager free to promote bank services rather than serving as a part-time travel agent.

Secondly, the Internet offers inexpensive 'tools of the trade' for banks. Available technology makes it possible for banks to offer topic-specific websites (complete with voice greetings and product explanations), weblogs with travelogues, and eNewsletters to communicate with thousands at a fraction of the cost of regular mail-outs.

"Establishing an internet-based bank club is only the tip of the iceberg of opportunity for today's community banks," says Rick Wemmers, Senior Partner of BankMarketingpros.com, a leading bank consulting firm in Atlanta, GA. Mr. Wemmers consults with numerous banks, speaks at many bank conventions and is frequently quoted in leading bank publications.

"Using this new Bank Club approach, a bank can cultivate stronger relationships and loyalty with current customers and sell additional services – easily. The growth potential is beyond belief."

Video Books And Web Seminars Reduce The Cost Of Education

Hometown's Interactive Video Book teaches Bank Marketing managers, free of charge, how to start and improve their club operations. In the near future, the company plans to add a series of web seminars to further educate participating banks about successful club strategies.

The web seminars are available at the bank marketing managers' Desktop and makes traveling to seminars unnecessary.

"With this new technology, Web Seminars and training sessions can be recorded, stored and re-played on banks' websites practically free of charge," says Deirdre Begley, Manager Business Development at Communiqué Conferencing, Inc, a top Web Seminar provider in Reston, VA.

"The online show-and-tell clips enable bank managers to clearly deliver their marketing messages to current and prospective customers and, of course, other bank branches."

The Future Of Bank Club Marketing

For Bank Clubs with an established customer base (coupled with the opportunities the Internet offers for further market segmentation) the future is bright.

Many banks will soon add programs such as "Kidzbank", offer Online Group Tour Programs for Seniors, develop Community Portals, and explain it all via web seminars.

All they need to do is to add a web-savvy employee to run the entire program from a PC. The colleges are full of candidates. >>>

Hometown Collaborative, Minneapolis, MN provides education, benefit programs, and professional networking opportunities for banks and has 2,000 OPT-IN subscribers nationwide representing some 3,000,000 senior depositors.

For information

Available on the Internet at http://www.bankmarketing.citymax.com

Please call (952) 938-4599 or eMail y2kevents@aol.com






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