We will never share your email address or send you spam.You can unsubscribe easily at anytime. The Houston Chronicle is the premier local news provider for the country's 4th largest city.
Currently the nation's sixth-largest newspaper, the Houston Chronicle is a multimedia company publishing print and online products in English and Spanish that reach millions of people each month. Current market research, customer service surveys and other bank research you have available. This is a basic description of what your bank stands for and how you are different from your competitors.
This is a simple visual diagram of the primary functions that fall under marketing at your bank. I highly recommend that you create a quarterly calendar listing all major projects for your department. These are basically detailed plans for all of your major projects, and they serve as implementation guides. It’s likely you will use more than one of these approaches, depending on your priorities for the year. Developing a detailed marketing budget is an important way to plan for all of your expenses. With real numbers, senior management can make budget decisions based on the value versus actual cost. As you build accurate budgets (no padding), management will develop confidence in the numbers you provide in the future.


When your management adds a new program or campaign, you’ll be able to quickly gauge the impact on the budget and how much you will need to cut in other areas. There are several ways that banks determine how much money they will allocate for marketing.
Competitive Parity Method: Budget is roughly based on what key competitors are spending, as estimated by your bank. Incremental Method: Budget is set using a base amount plus an incremental increase each year, depending on inflation, current growth rate, or some other factor.
Enter your email address to subscribe to this blog and get notifications of new posts by email. Restaurant industry professional helping small restaurants with their training, operations, and marketing needs. Free Report Of The MonthEach month I reward the people who read all the way down to this bottom corner with a free report. This statement is developed in conjunction with your bank’s senior management and serves as a basis for all that you do. Senior management will rarely take the time to read an epistle (I know this from experience) so limit this one to 3-5 pages, if possible. Complex plans often include task lists outlining key tasks, responsibilities and deadlines.
For example, you may create an overall public relations plan as well as individual major event plans. Some banks just give marketing an overall dollar amount and others want you to document every planned expense.


So, I believe in developing a comprehensive marketing plan that is a real blueprint for the coming year. So, with that bit of insight out of the way, let’s talk about the elements of a comprehensive marketing plan and you can decide for yourself which elements make sense for your bank’s plan.
If the role at your bank is not clearly defined, your managers’ perceptions will default to whatever was practiced at their last employer.
It is really a big picture view your primary goals and projects for the year.  Save the details for your specific implementation plans that you develop later. Regardless of how your bank does it, you are still responsible for managing to the bottom line. But, for annual projects, each year you will simply review and update the plan, which simplifies the process.
I prefer developing a detailed budget for each marketing account and then monitoring actual expenses compared to budget. Once you put this system in place, it is easy to track variances and plan for each new budget year. This document will change over time as marketing changes and your management’s vision for Marketing evolves.



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