You can bank on a plethora of sales opportunities with financial institutions. Representing 7.5% of ad specialty revenues, this market ranks in fourth place.
Cardinal rule number one: Know your customer. Retail banks and financial service companies are shifting their focus to their customer. Increased competition and a low-growth, low-margin business environment is forcing banks to find ways to distinguish themselves in an increasingly commoditized world, according to a report, “2015 Retail Banking Trends,” published by Strategy& (formerly Booz & Co.).
“Although most banks have virtually identical products, their customers are obviously distinct, and hence, offer these firms a pathway for differentiation,” the report says. This represents a tremendous opportunity for the promotional product industry, and the finance sector with its reliance on referrals and relationships is one of its top markets. Representing 7.5% of ad specialty revenue, the finance market ranks as number four of the top five markets for ad specialty sales.
“Loan officers, sales reps and agents are seeking a one-to-one connection with potential clients, and promotional products are a good way to intersect and give those prospects an item to keep them top of mind,” says Michelle England, director of branded merchandise at DataSource Inc. (asi/174103).Read More