How Simple, Consumer-Centered Marketing Helps Republic Bank Stay on Top

January 27, 2020

 

When you think of brands that are killing it in the modern social media marketing space, chances are you’re not thinking about your bank. But you’d actually be surprised at the small but impactful things that Republic Bank does to stay connected to their consumers.


One of the marketing techniques that Republic Bank favors using is investing in cultural events to expand their brand. This is especially impactful in the Caribbean, where there are so many local festivals like Carnival and Grand Kadooment, each with their own smaller cultural aspects and events. By attaching their brand to Trinbagonian steel bands like Exodus, and even sponsoring secondary school Spoken Word poetry performances, they maximize the likelihood of people seeing their brand in the wild.


That seems pretty intuitive, I’m sure – if you want to increase the chances of your consumers seeing you, you want to increase the places you can be seen. But it’s about more than that. Republic Bank’s specific focus on artistic and cultural events means that consumers can associate their brand with appreciation and support of local culture. Their funding of youth events particularly will make them more favorable to parents and other adults that work with youth, and also helps them to easily attract younger consumers.


When your brand does more than just sell their own products and services, it’s so much easier to share content with your ideal audience in mind. Republic Bank does this by using their social media real estate not to just sell their banking services, but to talk about the incredible work of the events and organizations they sponsor. They even occasionally share posts on their social media simply to encourage their audience to share tips with each other, or empower businesses to gather tools to become more competitive. They even occasionally have free webinars and similar events for their followers to join and learn from!


What most people don’t remember is that social media isn’t about selling your audience something – it’s actually about giving them something. When your brand consistently gives value to your potential consumers, they are more likely to stick around your platforms to soak up as much of that value as they can. After a while, if they weren’t converted into buyers from the jump, they’ll decide to spend a little in order to get more value from you. Both digitally and in real life, Republic Bank puts their brand in place to give value to others by supporting various community and country-wide programs as well as sharing content that empowers others, all while sharing more about the services they provide.


One of the other simple tools in Republic Bank’s arsenal is their constant focus on bringing everything down to the level of consumers’ experiences through advertising. It’s not all just banking services and promotional events. Sometimes, it’s a post asking their audience where they’d go if they could afford a vacation, or what are their New Year's Resolutions. It seems sort of random to those who don’t expect it, but it actually is a very important aspect of their brand.


Sharing simple, customer-centred messages gives the impression that it’s not just about getting them to buy something. In fact, it strengthens the idea that their brand is simply trying to give their audience as much value as they can. It also gives them a lot of valuable information as well, like what sorts of experiences their core consumers have, which may even spark ideas about new products and services for their clients. Every time a consumer shares their financial goals for the new year or talks about their ideal holiday getaway, they’re sharing information that they might have never shared before. They’re also strengthening their connection and loyalty with the brand, increasing their likelihood of sticking around their social media platforms or buying something in the future.


These small but powerful strategies are what Republic Bank focuses on to stay on top of the Caribbean market. And the great news is that they’re all so simple that you can utilize them for your own brand. Whether you’re a large corporation, a small business now starting up, or even just a personality trying to maximize their reach, each one of these tools can help you develop more customer loyalty, gather valuable information about your audiences, and create connections in their heads that make it more likely that they’ll stick around as customers. 
 

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