MARKETING OUTLOOK

The marketing strategy for 2020 has a multi-focused approach that includes innovation, growth and retention by introducing new ideas and methods to the Company that will grow existing relationships and retain our legacy foundational mission.

The majority of financial solutions offered by banks are contained in three core areas: retail services, business solutions and financial services. The 2020 marketing plan is multi-focused and strategically engages all areas of production while supporting department and corporate budgeted goals. Our goals involve all aspects of our multi-bottom line mission and include increased shareholder value, core bank growth, elevation of UB Community Development funding solutions and brand enhancement in emerging growth markets. Planned marketing channels will support producers and their overall 2020 budgeted goals with metrics to quantify the return on our marketing investment.

We plan to support all lines of business through strategic marketing objectives, tailored media placement, data analysis, messaging, expanded resources and creative engagement. Our tools of engagement include using data metrics to identify unfulfilled needs, customer segmentation and product promotion.

With onboarding and reboarding campaigns, we will improve customer engagement, share of wallet and ultimately the value of a community bank relationship.

Within the strategic marketing plan, monthly priorities are defined that capture areas of our Company that include revenue generating opportunities through retail, mortgage and financial services as well as deposit gathering products and ancillary services. Not every piece of communication will be product-centric but will be a balanced approach elevating our convenience services such as Smart ATMs, online and mobile banking, and campaigns surrounding Financial Focus, our financial literacy platform.

Our Digital Transformation began in 2018 with the integration of digital technology into all areas of the Bank. This integration has fundamentally changed how our business operates and the value we deliver to our customers.

As we were integrating and rolling out the new technology, we decided it was important to humanize the virtual engagement so the customer would still feel connected to the Bank. With this in mind, we created The Banking Store.

The Banking Store technology will be rolled out in the next 12 months and include modules like Consumer Bot, which will allow the customer to apply for, receive approval and close a loan online without coming into a branch. U-Open will allow customers to open accounts online, and we’ll even offer ATMs that allow customers to speak directly to a Bank representative.

We believe this technology will be a great asset to both the Bank and our customers, as we serve many rural areas and customers often don’t have the transportation they need to get to a branch. This new technology will allow them to connect with banking services they might not have been able to previously. Our ultimate goal is to connect customers to the Bank through seamless, virtual connections, regardless of where the customer is located.

Another benefit of The Banking Store will be the re-skilling and up-cycling of some of our internal team members. By re-skilling our internal team members, we are creating a greater return on the Bank’s greatest asset – our people. We will be leveraging already knowledgeable team members and transitioning them into customer-focused job duties, which will result in more exciting and rewarding positions for our valued employees and enhanced service for our customers.