Recently, the Financial Brand reported on the results of its 2009 Strategic Brand Challenges Survey. According to the survey, the top three concerns of financial institutions are:
- Retaining existing relationships
- Acquiring new relationships
- Attracting a Gen-Y audience
These indicate significant shifts in bank thinking:
- Banks are now more concerned about customers, and less concerned with their capital positions and rebuilding trust
- Banks are more focused on keeping current customers than chasing new ones (although new customers are still a priority)
- More banks are recognizing the importance of establishing relationships with Gen Y customers, even though they may not be the most profitable segment right now
Put simply, banks are thinking more long-term than they have been in recent years. This may be because they are desperate to move beyond the unbearable present. Or it may be that the economic crisis has brought them new wisdom.
Whatever the reason, it’s good to see. Because all three top priorities will require outside-in thinking.
This is no time for financial navel gazing. It’s time to get out and see what your customers and prospects are thinking, what they’re up to, and how you can help them.
Welcome to Outside-In Banking, a blog for bank marketers and anyone else involved in financial services. I believe that many banks are way too internally focused for their own good, so I try to provide an outside-in perspective. Expect a lot of opinions, raves, rants, and unsolicited advice. I hope to get the same from you. 
