Marketing Banks | Bank & Credit Union Marketing, Fintech, Finmarketing

Alright, yes, there are significant problems in the banking world. But instead of dwelling on the negatives, let's talk about how banks and credit unions can crush it during a recession. As the global economy faces tough times, financial marketers need to step up their marketing game to survive and thrive.

Universal Analytics, the go-to web analytics tool for financial institutions, is set to retire on July 1, 2023. In its place, Google Analytics 4 (GA4) offers a stronger analytics experience with the flexibility to measure various types of data.

While JPMorgan claims to have saved the day, the acquisition appears to have been solely for their own benefit, with an estimated $5 billion profit over the next five years, while the FDIC is set to cover $13 billion in losses. This acquisition has led to the stock prices of regional banks plunging, with every regional bank stock down today.

Investors are panicking as First Republic Bank teeters on the brink of collapse. Depositors have withdrawn over $100 billion in the past month alone, sparking fears that the bank could be the next domino to fall after the disastrous failure of Silicon Valley Bank.

Leading US financial institutions, including Charles Schwab, State Street, and M&T, faced significant challenges in the first quarter as customers withdrew almost $60 billion in combined bank deposits. This trend has been accelerated by the recent collapse of Silicon Valley Bank and two other US lenders, resulting in cash moving out of bank accounts at a pace not seen since the aftermath of the 2008 financial crisis.

The banking industry is expected to see some key marketing trends that will influence how financial institutions connect with customers. Here are four current trends that are expected to shape bank marketing strategies in the coming year: