How to advertise a bank
Video: How to Market a Bank | Marketing for Banks | Bank Marketing Plan Strategies 2024, July
In conditions of fierce competition, the successful promotion of their services is becoming a priority for banks. Each advertising message created as part of a clear marketing and client strategy of a financial institution can affect the choice of consumers, and therefore make a profit.
Instruction manual
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The objectives of the advertising policy of any bank are determined on the basis of its short-term and long-term objectives, their scale. In one case, it will be, for example, maintaining the already accumulated “reputation capital”, in the other - the introduction of the name and visual image of a new brand into the minds of consumers. For both, the sale of banking products in the relevant market segments will remain equally relevant.
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How to organize the right bank advertising campaign? First of all, through the creation of an informational occasion for such an action. This reason may be based on information of interest to regular and potential customers - individuals and legal entities. For example: - new types of services; - opening another credit line; - benefits in servicing large customers and partners; - implementation of a promising investment project; - participation in a sponsorship program, etc.
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When organizing an advertising campaign, it is important to remember that for almost any target audience of the bank (with a certain correction for the category of customers) the following will be important: convenience in obtaining financial services, quality of service and possible benefits. Although consumer demands may be different: long-term loans for business development are relevant for entrepreneurs, car loans, mortgages, Internet services are for the population.
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Knowing the target audience will help you choose the right advertising channel. If a bank, for example, advertises new types of pension deposits, it is unlikely that this information will be placed in the business press for top managers. But the leaflets at the information stands of the Pension Fund will surely attract the attention of potential customers.
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It will be relevant for any bank to advertise its corporate identity. Banks that succeed in creating a positive image are able to show in advertising their achievements in mastering the latest information technologies, the high level of organization of business processes and all service procedures.
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It is important to emphasize in the advertising materials the idea of openness of the bank's activities for business partners, state and municipal authorities, shareholders, customers, employees.
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An important emphasis in advertising banking services is information on the security of transactions, on measures aimed at preventing any possible illegal actions in the banking sector.
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What can be advantageous to highlight your bank’s advertising among similar competitors? Skillful campaigning for package offers, the promise of real bonuses and attractive gifts. Do not forget to give an indication of additional high-quality customer information support, including via the Internet. Think about the creative-emotional component of your advertising messages.
note
The question of the ratio of the volume of advertisements and the frequency of their output is decided depending on the goals of advertising, budget, technical and creative capabilities. Sometimes it’s more rational to manage short but frequent commercials and radio spots than rare and long advertising articles. A successful slogan is an integral part of the bank’s advertising: “A strong bank for a strong country”, “Reputation is measured by honesty”, “We maintain values”, “We create wealth”.
Useful advice
In general, the bank’s advertising policy is built as part of a marketing communication policy with the traditional division of ATL (above-the-line) and BTL (below-the-line) communications.
ATL - these are advertising events on television, radio, in the press, on the Internet; outdoor advertising; advertising on transport, in cinemas, etc. BTL - these are promotion events: PR actions (public relation), direct marketing, exhibitions, charity programs, etc.
