When marketing for a regional or even a national lender, making strategic marketing decisions can be challenging. Not only do you have to be on top of the latest and greatest marketing mediums, it is also crucial to consider where to push for more and where to lighten up on your marketing spend.
Recently we came across this great article that talks about how to spend your marketing dollars when marketing financial products – https://thefinancialbrand.com/49927/digital-marketing-strategies-for-banks-credit-unions/. While is it valuable in its overview of where to spend, it doesn’t tell you how to determine if an area is the right one to spend in. This is highly relevant as it applies to search engine, pay-per-click and content marketing because region changes pricing and messaging. You have to cover all the bases.
For example, the market in Toronto, Ontario is completely different than that of Calgary, Alberta. It is critical to monitor trends in the market at the macro level, nationally and provincially, but also in the micro, municipally and even by neighbourhood.
Being able to monitor changes and trends helps you to evaluate where to spend and how much you are spending to be that much more competitive.
When it comes to assessing this type of bulk data, it is critical to work with a vendor who:
- Can customize the data. This is critical because there are likely key indicators that you would measure when making marketing decisions. Having to comb through data sets to identify what matters is time consuming and not productive, which makes it advantageous to only focus on what is more relevant and more closely related to what you want to know.
- Can deliver the data you need. Data can be complex and interpretive. A vendor should be able to deliver data to you in a way that’s easiest for consumption.
- Can deliver the data quickly. Reacting to data after an event is not as effective as reacting to data as an event is happening. Data providers who can offer you a cloud-based solution where you simply access the data you want in real-time right from your computer are the best.
- Obtains the data from the most credible sources to ensure accuracy. For example, in Ontario, the most credible source for data is POLARIS, the Province of Ontario Land Registration Information System, is the most current and accurate source for property related data. Why? Because when a property is transferred or a mortgage is registered or discharged, the information is registered there first.
A vendor who can facilitate the above criteria will give you the ability to access the information you need, when you need it, and give you the competitive edge in an already incredibly competitive market space.
Find out more about Purview today by visiting www.purview.ca.