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15 Competitive Win-Back Campaign Ideas for Financial Services Marketing

Jessica Broome, Senior Demand Generation Manager


Who are your competitors? It might not be who you think.

As marketers, we have a deep understanding of what’s going on in the market. And as a community financial institution marketer, you know your competitors are not always megabanks. Marketers tend to rely more on their gut versus data, not only for campaigns, but also for new product additions. A combination of both, along with a little research, can provide the best results for your financial services marketing. This allows you to be proactive to win back wallet share by turning competitive insights into actionable marketing campaigns. 

Using everyday spend data from transactions, you can see where account holders are spending their money elsewhere, and use these insights to discover your true competitors. You might be surprised to see your account holders transacting not only with traditional financial institutions. They likely also transact with digital-only companies, like Rocket Mortgage and Ally Financial, and even mobile apps, like Apple Pay and Stash Investments

The key here is to combine your expertise of the market with your account holder data to validate your true competition. Then you can better position your financial institution’s strengths against these competitors to win back your wallet share.

Here are 15 ideas to inspire you to dig into your data to create personalized campaigns.


Buy Now Pay Later

Buy now, pay later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them over time, usually with no interest. You may have even come across a BNPL provider, like Affirm while checking out on Amazon or Klarna when making a purchase on Etsy

Because it’s so easy and convenient to use, BNPL services are growing in popularity. Per Alkami’s primary market research, almost half of all digital banking consumers (44 percent) believe BNPL transactions will exceed credit card transactions within the next five years, with 28 percent of consumers reporting having used a BNPL provider at least once. And BNPL users are taking on almost as much in BNPL payments as they are paying on a single credit card. This means that BNPL is effectively acting as an additional credit card for these users.

  1. Encourage account holders to build credit now, not later. Educate account holders on how to play safe in this financial landscape. BNPL usage does not show up on a credit report unless the payments are in default. It can only negatively impact users’ credit scores. This means for younger generations who may not be as financially savvy, they might be tempted to use BNPL without knowing the full repercussions. 
  2. Promote financial education. Consider hosting educational sessions about building credit. Try online sessions via social media to attract younger audiences.
  3. Showcase your digital cards. Account holders using BNPL appreciate the convenience and immediacy of digital interactions. Promote your digital cards and credit card rewards to this group to capture more interchange income for your financial institution.


Merchant Payment Processors

Merchant payment processors are companies that handle payment card transactions for businesses. Merchant payment processor transactions within your retail accounts may indicate that account holders use their retail accounts for their business. That opens an opportunity for you to empower your account holders’ budding entrepreneurship with your products and services.

  1. Showcase the benefits of a business account. Showcase the benefits of a business account over a retail account. Promote how easy tax time would be if they had all their business accounts in one easy place. Plus, having a business account will allow them to scale their business as they grow! 
  2. Promote your business services. Have your business account reps reach out to these account holders personally. Even consider direct mail!
  3. Host business education sessions and networking events. To promote your business services and products, consider hosting educational business classes or even networking events for new and aspiring entrepreneurs.



Online mortgage lenders are gaining wallet share with easy online applications. They enable account holders to apply online, anytime, at their convenience – which means it’s there when they need a fast approval to buy a house or to lock the rate.

  1. Promote your relationships. Buying a home is one of the biggest purchases a consumer makes. It can be a daunting process, and may be stressful for consumers to do it all by themselves online. For first time buyers, it’s important to provide hands-on guidance and support at every stage of the home buying process. Be sure to promote your mortgage loan originators’ experience and availability for in-person meetings.
  2. Use education as a call to action. Support your home buyers with educational resources. For example: Are they getting the best rate? Are you communicating all the costs involved with a mortgage loan?
  3. Match graphics to the average mortgage payment. Make sure your campaign graphics match what the average mortgage payment is going out to competitors. Don’t showcase a large residence in a $500k price range if you’re seeing mortgages around $150k. 


Investment Services

Deposits leaving your institution may become more of a threat with new investment service competitors. Companies like Stash even offer debit cards, allowing users to earn stock by using the card. That’s deposit and transaction income you could be missing out on.

In addition, over the next decade, the United States will experience a $16 trillion transfer of wealth from older Americans to younger generations, like Millennials and Generation Z. That’s why it’s so important to attract younger generations who need to be investing right now. 

  1. Use images that appeal to younger audiences. For your marketing campaigns, be sure to use fresh, on-trend imagery that will resonate with younger audiences.
  2. Explain diversification of investments. Educate your younger account holders about their investment options. Be sure to explain the importance of investment diversity and the difference between high-risk and low-risk investments.
  3. Don’t sleep on investment services! Investment services can be a growth driver for your institution. Consider amping up your investment service offerings to match your account holders’ specific needs.


Auto Loans

More people are turning towards manufacturer financing – offering equal to lower rates, plus incentives like tire and wheel coverage and other warranties.

  1. Share your competitive rates. If your financial institution offers competitive rates, make those rates prominent in your messaging.
  2. Promote your insurance products. Promote your insurance products like GAP, credit, life and disability, warranties and more. Be open with the cost, as they are most likely lower than the dealerships. Look at offering pre approvals ahead of time.
  3. Use images of vehicles based on data. If your account holders purchase more trucks than convertibles, be sure to feature images of pickup trucks in your advertising and campaign content. This will ensure your campaigns are more relevant for your account holders and may increase conversions.


Activating Your Financial Services Marketing

Competitive insights derived from real-time transaction data are a great predictor of what account holders are going to do next. With Alkami Customer Insights & Marketing Automation, banks and credit unions can use these insights to build lists of account holders to send messages to – delivering the right message to the right audience. Automated full cycle attribution reporting identifies account holders who were influenced to achieve the campaign goal as a result of your financial services marketing automation efforts.


Dig into your data with Alkami’s financial services marketing.

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Alkami Technology Digital Banking Solutions
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities.
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