In the context of the current digital world, marketing will help banks improve their competitiveness and sustainable development.
Bank marketing staff is responsible for participating in solving and promoting issues related to business activities of the unit. Not that simple, the person in charge of this job also makes a difference in reality, in customer perception and much more. So banking is a science, an art, and a profession. Let's find out more about this with Navigos Search through the information below!
1. Importance of marketing in banking
In the digital age, banking marketing strategies are deployed with the aim of:
Brand developping
Products and services that banks provide are relatively similar. In order to stand out, make a difference and improve competitive position in the market, it is indispensable for marketing solutions to catch the trend. Therefore, this is considered the most important role of marketing in banking.
Connecting banks with the market
Marketing helps bankers identify customer needs and which products and services are popular and popular. In addition, bank marketing can exploit capital mobilization and distribute them appropriately at that time.
Enhance competitive position with other banks
Business activities of the bank are always volatile and fierce competition should require the bank to plan an appropriate business strategy. In particular, Marketing is the solution to help the bank's entire resources work effectively and better meet customer needs. From there, creating a competitive position with other banks.
2. Characteristics of banking marketing profession
Bank marketing has the following characteristics:
- Intangibility: Intangibility makes it difficult for customers to accurately identify and evaluate service quality before using it. That is why bank marketers must convey the quality of their services through many different forms.
- Inseparable: The customer is the beneficiary of the service, influenced by the service delivery process, the provider's attitude and the banking environment. Therefore, tellers, credit officers, bank marketing staff, etc. all need to work together to best meet the requirements and satisfaction of customers.
- As an integrated management method: Banking marketing is an integrated management method to best meet the needs of customers and in accordance with the fluctuations of the business market. On that basis, the bank's development goals will be promoted.
- As a set: Banking marketing is a collection of different actions by bankers to direct all available resources to best serve customer needs. Therefore, banking marketing activities take place for the purpose of building and developing the bank.
Bank marketing has its own characteristics
3. The secret to improving the work efficiency of the "masters" of banking marketing
Not all bank marketers can create high performance to help the bank brand gain a foothold in the market. Because besides professional capacity and experience, you also have to have golden secrets in the profession. Specifically, there are a few tips shared by the masters of this profession as follows:
Identify the right customer
You must clearly define the audience to come up with content and marketing strategies that suit their needs. This solution helps the bank to conduct accurate product pricing that is suitable for the market at that time and provides the most effective form of advertising and distribution.
Understanding customer needs
In the field of banking marketing, you cannot ignore the solution to understand the needs and wants of customers. In fact, most customers want to choose products that are easy to use and have many utilities. Therefore, bank marketers need to understand customer needs to help managers optimize their services and bring in the most profits.
Planning the correct bank marketing strategy
Certainly, the person in charge of the bank marketing position must have the mindset to come up with unique marketing strategies. A suitable marketing campaign not only helps the bank's leaders grasp all changes and market trends, but it is also a core factor to evaluate the level of business performance later.
Is there a method to measure the effectiveness of marketing activities?
Not every marketing campaign ends as a bank marketer will perform another task. Instead, the leadership, marketing department and department in the bank must make an assessment of the achieved and unattained goals, the limited aspects, etc. of the activities just implemented. This helps the bank learn from experience and carefully consider it to come up with a new and more relevant marketing campaign in the future.
Continue to improve expertise and skills
Technology 4.0 is increasingly developing and changing, marketing activities also become more diverse. Along with many opportunities open up are the difficulties and challenges that the market poses for the marketing industry in general and for bank marketers in particular.
Therefore, you must constantly improve your capacity, acquire new knowledge and forge your creative thinking ability to keep up with market trends and stay in the profession. Always look for new and most effective marketing solutions to compete well in the industry. This is also the law of existence and development in this field.
Who knows, at some point, when you have a long career and high capacity, the opportunity to become a marketing expert, marketing manager , deputy director or marketing director is entirely possible. And when you are confident about your professional competence and experience in the field of marketing, immediately send your perfect CV to Navigos Search - the leading headhunter brand in Vietnam to quickly enter mid-level positions, senior level in this field.
Hopefully the above sharing of Navigos Search has helped you have a more in-depth look at banking marketing. There is a lot of information about jobs, useful HR articles updated on LinkedIn page and Fanpage of Navigos Search. Please visit and follow regularly. Thank you readers for always accompanying Navigos Search!
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