Bank marketing messages focus on trustworthiness as the foundation for banking relationships
New marketing campaigns touting security and stability in banking are getting noticed – and not just in banking circles. As the new PNC ad dubbed “Brilliantly Boring” rolls out across the country, consumers are reminded that while stability may not be sexy, “smart, dependable and steady” is what you want from your bank. “Our work is focused on being reliable and trustworthy,” says William S. Demchak, chairman and CEO of PNC in a press release. “In a frenetic industry that sometimes chases shiny objects, we’ve grown our business by focusing on the essential financial needs of customers, patiently nurturing relationships over generations and delivering results.”
At a time when consumers still face economic challenges like intractable inflation and “financial services brands are struggling to earn high levels of customer trust,” according to Forrester, leaning into more traditional institutional values is a smart play for banks and credit unions. “After 12 months of financial industry ups and downs, the majority of US consumers appear to really value stability,” according to EMarketer reporting. No doubt, the regional banking crisis in 2023 has also played its part. “Regional banks have been under pressure for about a year,” according to Bloomberg reporting, as the “industry grappled with increasing competition for deposits last year.”
While the themes of the bank marketing ad campaigns may be more staid and sober, that doesn’t mean their presentation has to be. The PNC ad uses humor to deliver the message of dependability. Citi uses striking visuals and a fun play on language: “We’re not writers, but we help you shape your financial story” signals strong support, and “We’re not a startup, but… new technologies to help keep your information secure” communicates a commitment to safety. “Most customers don’t want a roller-coaster for a bank,” Paul McAdam, senior director of banking and payments intelligence at J.D. Power to Banking Dive. “They want security, reliability, ease, friendliness and fairness.” Now, marketing messages are centering those needs.
If you’re looking for bank marketing strategies to cut through the noise and connect with the people who matter most, get in touch with the banking and credit union experts at Adrenaline. And don’t forget to subscribe to Believe in Banking to stay up to date with the latest news impacting the banking and credit union industries.