5 Ways Community Banks Can Leverage Cash Mobs

Community Banks, Business Banks and Credit Unions each have different overall missions, however, each one can benefit from hosting or sponsoring Cash Mobs in their community. Banks and Credit Unions are always looking for ways to increase awareness of their small business lending and banking services–a Cash Mob is a great way to get the word out. The following are the top five reasons Community Banks and Credit Unions should sponsor local cash mobs:

1. Media Coverage. Local media is starved for positive stories to cover about locally owned businesses. Holding a local cash mob at well-loved business will bring out the community and provide a great PR opportunity.
2. Community Engagement. Community Banks need to be associated with local positive acts and a cash mob fits the bill perfectly. Some banks have even been known to hand out $20 bills to the first 10 people through the door of the Cash mobbed business to lessen the burden on consumers while still benefiting a local business. Using this in cash mob event marketing will ensure a good turn out.
3. Brand Recognition. When done correctly, a cash mob sponsor logo and brand messaging is promoted before during and after the cash mob happens.
4. Product and service awareness.  Keep in mind that the event isn’t about the sponsor it’s about the community and a locally owned business. However, as part of the Brand Recognition is product and service recognition. A banks employees should be encouraged to attend the event and as part of being there and speaking with other attendees (Cash Mobbers).
5. Good Will. Good will has always been important for local community-based businesses, but in todays social media-enabled world it’s even more so. Any opportunity that a lcoal bank or credit union has to show that they care about the local community and the locally owned businesses that make up that community the better it is. And, with so many people live streaming events the benefits are now compouinded by each attendee.

So, aside from the the shear joy of helping the local business community there are 5 specific reasons that Cash Mobs can directly and positively impact local community bank, business banks and credit unions. Even if you don’t have the available staff or Cash Mob expertise you can still sponsor a series of local Cash Mobs. We offer do-it-yourself cash mob packages as well as cash mob event planning consulting. So, now you have no reason not to use Cash Mobs as a marketing tool!