Executive Summary

Community banks are navigating a period of rapid change, marked by digital transformation, evolving customer expectations, and increased competition from both traditional and non-traditional financial institutions. In this environment, marketing teams must be more agile, data-driven, and innovative than ever before. However, limited resources and the need for specialized expertise make it challenging to build a marketing team that can deliver on these demands.

This whitepaper explores the hybrid marketing team model—an approach that combines full-time employees (FTEs) with specialized contractors and small agencies—to deliver agility, scalability, and high-impact results. Drawing on real-world insights from Midwest Bank Center’s transformation, we outline the benefits, challenges, best practices, and actionable steps for implementing a hybrid marketing team in the community banking sector.

Introduction

Traditionally, marketing in community banks has been a small, reactive function, often focused on basic tasks such as event flyers, sponsorships, and local advertising. As the financial services landscape evolves, this approach is no longer sufficient. Today’s marketing teams must be able to execute sophisticated digital campaigns, analyze data, tell compelling stories, and respond quickly to market changes. The hybrid team model offers a flexible, cost-effective solution that enables banks to access specialized skills, scale resources up or down, and drive strategic growth without overextending their budgets. The Case for a Hybrid Marketing Team

1. Agility and Flexibility

Community banks experience fluctuating marketing needs throughout the year. For example, launching a new product, running a major campaign, or responding to a crisis may require additional resources and expertise. A hybrid team allows for rapid scaling during these periods and cost savings during quieter times. Contractors and agencies can be brought in for specific projects—such as SEO optimization, video production, or digital advertising—without the commitment of a full-time hire. This flexibility ensures that the bank can respond to opportunities and challenges as they arise.

2. Access to Specialized Expertise

Modern marketing requires a wide range of skills, from data analytics and digital strategy to creative content production and public relations. It is rarely practical or cost-effective for a community bank to employ full-time experts in every area. By leveraging contractors and boutique agencies, banks can access deep subject matter expertise for specific initiatives. For example, a contractor with advanced SEO skills can optimize the bank’s website, while a video production agency can create high-quality client stories for a campaign.

3. Reduced Hiring Risk

Hiring full-time employees is a significant investment, and making the wrong hire can be costly and disruptive. The hybrid model allows banks to “try before they buy” by onboarding contractors for specific projects or periods. If the contractor proves to be a good fit, they can be offered a full-time role. This approach reduces hiring risk and ensures that new team members are already familiar with the organization’s culture, processes, and expectations.

4. Cost Efficiency

The hybrid model helps control fixed costs by limiting the number of full-time salaries while still accessing top talent as needed. Banks can allocate budget to high-impact projects rather than maintaining a large permanent staff. This approach also allows for more precise budgeting and resource allocation, as contractors and agencies can be engaged only when their expertise is required.

Case Study: Midwest Bank Center’s Hybrid Approach

When Danielle Bateman joined Midwest Bank Center as Chief Marketing Officer, the marketing team consisted of just one coordinator, primarily focused on reactive tasks. Recognizing the need for both scalability and expertise, Danielle implemented a hybrid model:

• Grew the team to seven FTEs, each managing multiple verticals (e.g., social media, earned media, nonprofit marketing).
• Partnered with small agencies and contractors who acted as extensions of the team, providing specialized skills in areas like SEO, video, and digital advertising.
• Used contractors as a talent pipeline, converting four into full-time employees as needs grew.
• Achieved greater flexibility, faster execution, and reduced risk, all while keeping marketing spend in the bottom quartile compared to peers.

This approach enabled Midwest Bank Center to double its net income and achieve a compound annual growth rate (CAGR) of over 20% on the bottom line, all while maintaining a lean and agile marketing function.

Challenges and Considerations

While the hybrid model offers significant benefits, it also presents challenges that must be managed:

• Communication and Collaboration: Integrating contractors and agencies into the team requires clear communication, regular check-ins, and shared tools to ensure alignment and knowledge transfer.
• Brand Consistency: With multiple contributors, maintaining a consistent brand voice and message across all channels is critical. This requires strong brand guidelines and oversight.
• Data Security and Compliance: Contractors must be trained on data privacy, security, and regulatory requirements specific to the banking industry.
• Cultural Integration: Contractors may not be as invested in the organization’s culture and long-term goals. Efforts should be made to include them in team meetings and celebrations.

Best Practices for Building a Hybrid Marketing Team

1. Identify Core vs. Specialized Functions

Determine which roles require deep institutional knowledge and should be filled by FTEs (e.g., brand management, strategy, stakeholder communications). Identify areas where specialized expertise is needed periodically (e.g., analytics, creative production, digital campaigns).

2. Build Strong Partnerships

Treat contractors and agencies as true partners, integrating them into team meetings and workflows. Set clear expectations, deliverables, and communication protocols. Provide access to necessary resources and ensure they understand your brand and objectives.

3. Develop a Talent Pipeline

Use contract roles as a way to evaluate potential FTEs. Provide onboarding and training to ensure contractors understand your brand and culture. When the workload justifies it, consider converting high-performing contractors to full-time roles.

4. Maintain Data and Knowledge Continuity

Use shared project management and documentation tools to ensure knowledge transfer between FTEs and contractors. Regularly review and update processes to avoid silos and ensure everyone is working towards the same goals.

5. Align with Strategic Goals

Ensure all team members, regardless of employment status, understand how their work supports the bank’s strategic objectives. Use data to measure impact and guide resource allocation. Regularly communicate progress and celebrate successes.

6. Foster a Culture of Inclusion

Invite contractors to participate in team meetings, brainstorming sessions, and social events. Recognize their contributions and make them feel valued as part of the team.

7. Prioritize Security and Compliance

Provide training on data privacy, security, and regulatory requirements. Limit access to sensitive information as appropriate and use secure collaboration tools.

Conclusion

The hybrid marketing team model offers community banks a powerful way to stay agile, access specialized skills, and drive growth without overextending resources. By thoughtfully combining FTEs and contractors, banks can build a marketing function that is both resilient and responsive to changing market demands.

The experience of Midwest Bank Center demonstrates that this approach can deliver significant business results, including increased revenue, improved efficiency, and enhanced brand presence.

This whitepaper is based on the 2024 DMFS Midwest Summit session featuring Danielle Bateman, Chief Marketing Officer at Midwest Bank Center.