New Account Growth

The Top 5 Ways Mega Banks Excel at Converting Leads into Customers

Doug Forinash

2 min read

In the modern world of banking, “mega bank” institutions like Chase, Bank of America, and Wells Fargo have mastered the art of customer acquisition, thanks in part to their vast resources, substantial budgets, extensive workforce, and a steadfast sales culture. While Bundlefi’s mission is laser focused on helping community financial institutions excel (and beat out their local mega bank competitors), in today’s market, it’s important to take steps to understand why mega banks are so successful and implement these proven tactics when able. Let's explore the five key strategies that set these giants apart in turning leads into loyal customers and how community financial institutions can leverage these techniques to enhance their customer acquisition efforts with the help of Bundlefi.

1. The Sales Culture:

From the highest executive to the newest recruit, mega banks eat, sleep, and breathe a sales-oriented culture. While the aggressiveness of this culture can be a point of debate, there's no denying its impact on their success. Employees are expected to proactively pursue opportunities, and every lead is regarded as a potential goldmine. As most former mega bank employees can attest, new customers are hard to acquire and don’t always just walk through the door. If a customer isn’t at your desk, you are expected to be on the phone proactively pursuing new business.

2. A Lead Isn't Just a "Lead":

To mega banks, a lead signifies more than just contact information; it represents someone keenly interested in their products, services, and brand. These institutions treasure leads because they understand the high cost and difficulty associated with customer acquisition. Community financial institutions can similarly regard leads as invaluable opportunities.

3. Mandatory Follow-Up:

While working for a mega bank, following up with a lead is not a choice; it's a mandate. They place significant emphasis on timely and consistent follow-up, turning potential customers into loyal ones. This persistent engagement ensures a higher conversion rate from leads to customers.

4. Multiple Channel Approach:

Mega banks recognize consumers are busier than ever which requires a change of approach. As a result, mega banks avoid relying on a single communication channel to follow up with leads. They integrate multiple phone calls, SMS, and emails to connect with potential customers through their preferred medium, thereby increasing the likelihood of a conversion.

5. Cross-Sell Emphasis:

Mega banks recognize that interest in a single product may have brought that customer through the door, but a customer's needs extend well beyond that single product. Thus, they prioritize cross-selling to new customers to insert themselves as that customer’s primary bank. Their goal is to ensure that every account holder perceives them as their go-to financial institution, not just another account.

How Community Financial Institutions Can Apply These Techniques:

Community banks and credit unions can learn from mega banks' strategies to enhance their customer acquisition efforts. While they may lack the vast resources, adopting a sales-oriented culture, valuing leads, implementing rigorous follow-up, using multiple communication channels, and emphasizing cross-selling can significantly improve their results.

How Bundlefi Can Help:

Bundlefi, your partner in the financial world, is poised to assist community financial institutions at every step. We understand the unique dynamics of community banking and are on the verge of introducing an industry-first digital consumer platform that is poised to revolutionize customer acquisition for community banks and credit unions.
Our upcoming platform will redefine how community financial institutions connect with potential customers and maximize the value of every lead. Bundlefi is committed to helping community banks and credit unions harness these opportunities, leveraging our expertise and resources to create a brighter future for your institution.
In the evolving financial landscape, it's time for community banks and credit unions to stand out. By embracing some of the proven strategies of mega banks and partnering with Bundlefi, you can reshape your institution's customer acquisition process and unlock your growth potential.

Bundlefi is your trusted partner in revolutionizing the way community financial institutions succeed in the digital age. We understand the unique challenges and opportunities that arise in the financial industry, and we are here to empower your institution with our full-service marketing agency and proprietary lead-gen platform solutions.

Bundlefi acts as an extension of their marketing team, providing a range of services that save time and money, drive new account growth, and highlight their brand. We offer a proprietary consumer platform experience, fully customizable marketing campaigns tailored to your brand, and expertise in targeting the right audience for optimal results.

Bundlefi offers a comprehensive suite of marketing services, including branding, paid search advertising, digital creative services, content marketing, social media advertising, email marketing, and more. We provide a full-service marketing agency experience to help banks and credit unions effectively promote their brand

Bundlefi harnesses the power of Web 3.0 principles to create personalized and immersive experiences for customers. We utilize AI-driven algorithms to analyze data, gain valuable insights, and make data-informed marketing decisions. This enables us to deliver targeted campaigns that drive engagement and conversion rates.

Absolutely! Bundlefi streamlines marketing operations, automates processes, and optimizes workflows to save your institution valuable time and resources. By maximizing efficiency and reducing costs, we help you achieve your marketing objectives while staying within budget.

Yes, Bundlefi is a one-stop shop for all your bank or credit union marketing needs. From strategy development and branding to campaign execution and performance tracking, we provide end-to-end marketing solutions to ensure a cohesive and impactful marketing presence.

The Bundlefi team’s data-driven approach and expertise in the financial industry enable us to craft compelling marketing campaigns that highlight your institution's unique value proposition. We help you differentiate yourself, attract customers, and position your brand as a trusted leader in your market.

Absolutely! The Bundlefi team does not believe in a one size fits all approach and fully understands the importance of customization for effective marketing. We offer fully customizable experiences tailored to your brand, audience, and specific goals. Our platform allows you to personalize campaigns, landing pages, and digital assets to reflect your institution's personality and values, creating a unique and engaging customer experience.

Bundlefi provides comprehensive analytics and conversion tracking capabilities to measure the success of your marketing campaigns. We track key metrics, user behavior, and campaign performance to gain valuable insights. This data allows us to continually optimize your strategies and achieve better results over time.

Getting started with Bundlefi is easy! Book a meeting with a Bundlefi Team Member. We'll guide you through the process, understand your specific needs, and create a tailored marketing solution that aligns with your institution's goals.

Bundlefi recommends Google Ads search campaigns to target users actively searching for financial institutions in your local market. This tactic allows us to advertise to prospects who are most likely to convert and become your next loyal account holder.

Google Retargeting Campaigns are designed to reconnect with users who have previously visited your website. By showing relevant ads across different devices, retargeting helps keep your brand top of mind as prospects explore various institution options before making a decision.

Programmatic Digital Display involves automated bidding on real-time display advertising inventory. Bundlefi targets digital display ads to your prospects' favorite websites, utilizing factors such as household location, search behaviors, visits to competitors, and more to reach the right customer types in the most relevant context.

Advertising through platforms like Facebook and Instagram can generate targeted traffic and warm leads for your website. Bundlefi's strategy is designed to drive more traffic and increase awareness. By targeting users within a specific geographic area and serving ads to users with relevant interests, we help generate brand awareness and increase conversions.

Bundlefi’s team of experts continually optimize campaigns to enhance ad performance. We update ad copy, optimize ad extensions, optimize retargeting campaigns, optimize device bids, expand keywords, evaluate and exclude irrelevant search terms, and optimize keyword bids to improve relevancy and click-through rates.

Bundlefi recommends tracking completed applications, contact form submissions, and phone calls to measure conversions. By implementing a Google Tag Manager code on your site, we can set up tracking for these events and provide insights into your campaign's effectiveness.

Bundlefi understands that markets are crowded and continually changing. We offer various digital marketing solutions that can expand your digital footprint based on your goals and real-time activity. Whether you need top-of-the-funnel leads or want to target specific stages of the sales funnel, we have the expertise to help you achieve your objectives.

Bundlefi understands the importance of being visible in search engine results and has the best team in the industry to do so. We leverage our SEO knowledge to optimize your website for hyper-local keywords and implement other SEO strategies. Our process ensures that when people search for specific terms related to your institution, your website captures organic search traffic, encouraging prospects to take action.