Comments on: Niche marketing in the banking sector http://www.creative-brand.com/bank-branding/niche-marketing-in-the-banking-sector Just another WordPress weblog Thu, 22 Dec 2011 15:18:26 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Lauri Jordana http://www.creative-brand.com/bank-branding/niche-marketing-in-the-banking-sector/comment-page-1#comment-113 Lauri Jordana Tue, 26 Aug 2008 00:21:44 +0000 http://creative-brand.com/2008/08/22/niche-marketing-in-the-banking-sector/#comment-113 Thanks for addressing this, Maija, and Jeffry's comment about having a focus absolutely rings true in niche marketing. If it's done right, the brand will stand out to its sweet spot and attract the very audience it was designed to. Even if that demographic is limited, the brand can virtually own the segment by being first to speak to it specifically. You mentioned Plaza Bank. At Conexión Marketing, we help Plaza Bank get the word out to its primary audience--Latinos--and as you may have read, this bank has the second greatest assets of new Hispanic banks nationally. And it's not even located in a traditional Hispanic market - which further proves the theory. The retail branch is located in Kent, Washington, a city with about 8 percent Hispanic density. Their customer base on the retail (versus commercial) side, however, is 65 percent! And they estimate 25 percent of their commercial loans are to Hispanic-owned businesses! It's a tough market for banks and other business, yes, but by directing their focus on the Latino community, Plaza Bank has illustrated perfectly how segment marketing can be so effective. Thanks for addressing this, Maija, and Jeffry’s comment about having a focus absolutely rings true in niche marketing. If it’s done right, the brand will stand out to its sweet spot and attract the very audience it was designed to. Even if that demographic is limited, the brand can virtually own the segment by being first to speak to it specifically.

You mentioned Plaza Bank. At Conexión Marketing, we help Plaza Bank get the word out to its primary audience–Latinos–and as you may have read, this bank has the second greatest assets of new Hispanic banks nationally. And it’s not even located in a traditional Hispanic market – which further proves the theory. The retail branch is located in Kent, Washington, a city with about 8 percent Hispanic density. Their customer base on the retail (versus commercial) side, however, is 65 percent! And they estimate 25 percent of their commercial loans are to Hispanic-owned businesses!

It’s a tough market for banks and other business, yes, but by directing their focus on the Latino community, Plaza Bank has illustrated perfectly how segment marketing can be so effective.

]]> By: Jeffry Pilcher http://www.creative-brand.com/bank-branding/niche-marketing-in-the-banking-sector/comment-page-1#comment-112 Jeffry Pilcher Fri, 22 Aug 2008 18:43:25 +0000 http://creative-brand.com/2008/08/22/niche-marketing-in-the-banking-sector/#comment-112 The three most important words in branding: focus, focus, focus. Focus on an audience. Focus on a need. Focus on a product that addresses that audience's need. The three most important words in branding: focus, focus, focus. Focus on an audience. Focus on a need. Focus on a product that addresses that audience’s need.

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