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Rich Batt

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When Small Banks Attack

Posted by Rich Batt on Apr 29, 2015 12:18:00 PM

Everyone likes a good David and Goliath story. So I was interested to learn how small banks have been taking aim at bigger firms with bolder messaging than usual. A recent Ad Age article states, “Small banks are declaring war on big banks.” And who can blame them? Small community banks have long been overshadowed and outspent by larger competitors in the marketplace. Unable to compete on scope of service or location, smaller banks have tried to differentiate themselves on attributes like personalized service or community involvement. But it’s one thing to tout your differences; it’s quite another to attack your competitors’ weaknesses. Most banks shy away from this approach, preferring to take the high road instead of engaging the enemy. And I’d be the first to agree that this strategy – if not done properly - could backfire by making a bank seem desperate or downright hostile. Plus, big banks have all the money in the world to launch a counter-offensive.

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Topics: Bank Marketing, Banking & Financial Services

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