Bank Marketing: The Answer To Your Sales And Customer Relations NeedsBank Marketing: The Answer To Your Sales And Customer Relations Needs

Are you having trouble looking for the best marketing tools for your bank? Are you having difficulties establishing a niche and compete with rival banks? If yes, you are not alone because other banks out there experienced the same problem like you do.

What is bank marketing?

Bank marketing is the scheme used by banks to establish a niche, to increase customer base, to promote customer loyalty, to increase sales and to win over rival banks. Each company uses different sets of marketing tactics for maintaining existing customers, attracting new customer base and enhancing their reputation.

When designing a marketing strategy, companies should plan carefully and study their target market to know what tactics suit them best.

With the stiff competition nowadays, banks are looking for unique tools to get ahead and to attract new customers. Just like any type of business around, they must come up with an effective and unique marketing schemes to market and to promote their products and services. Majority of them offer the same products and services such as savings accounts, checking accounts, loans and certificate of deposits, thus, they find it difficult to convince customers and to differentiate their products from other banks. They have to come up with strategies on how to attract customers to bank with them. Providing the same products and services are some of the challenges they have to endure and need to address. It is very challenging for them to find an effective marketing tool and to convince probable customers on the uniqueness of their products and services and to take a lead ahead of other banks.

All of them want to attract new and additional clients to avail of the products and services they offer. They have to decide which marketing strategy suits them best.

Below are different marketing tools suitable for banks:
1. Advertising - Banks used advertisements in radios, televisions, newspapers, magazines, yellow pages and journals in promoting their products and services.

2. Brochures/flyers - Some financial institutions used flyers and brochures to advertise their products. Most of these promotional files are placed near the deposit and withdrawal slips while some are given by marketing associates during product promotions. In some banks, flyers and brochures are placed in one corner and only interested customers pick and read them.

3. Billboards and banners - Some banks posted their unique services on banners and billboards.

4. Online marketing - Some banks promoted their products and services online.

5. Incentives - Some companies offer promotional products and incentives to new customers like discount cards in stores, giveaways and other items.

6. Public relations - It is the most effective means of promoting the banks services and products to new customers. Once clients are satisfied with the products and services that banks offer, they promote them to their friends, colleagues and relatives. Always remember that good public relations, quality customer service and praise worthy reputation are the primary reasons why customers stay in a particular bank.

7. Online banking - With the busy and hectic schedules and majority of us have, we prefer to bank with financial institutions which offer online banking services.

Aside from following the marketing strategies mentioned beforehand, banks need to be sensitive to the needs of their existing customers and probable clients.
by Hannelore Willingham
References and Bibliography
Hannelore Willingham enjoys writing for which offers information on bank marketing and customer incentive programs as well as a host of additional services.
Rated:NR/0 Votes
Add To My Article Reading List
Add To My Article Reading List
Print Article
More Article By Hannelore Willingham
More Article by Hannelore Willingham
More Articles From Marketing
More Articles From Marketing
Related Articles and Readings
Effective Bank Marketing Strategies By: Hannelore Willingham
Are you looking for the best marketing strategies for your bank Are you tired of advertising and sending mails to ...
Tools For Bank Marketing By: Hannelore Willingham
Just like any other industries, banks should also have come up with good and effective marketing strategies to market their products and services Almost all banks offer the same products and services such as checking accounts, savings accounts, ...
Finding a Way Through the Maze of Internet Marketing By: Lorae Le Roux
Too many people these days claim to have the best ? must have? information to market your products, or services, on the Internet, only wasting your time, money and effort, leaving you hollow and empty, ready to give up on the Internet, pack your bags and leave town.So you ask, ...
Scots Beat Yanks in China Bank Deal By: Carl Delfeld
With visions of an ATM in every neighborhood in China, foreign banks and investment firms are queuing up to join the ?China Club.?Moneybags CommunismThe initiation fee for the ?China Club? is straightforward and pure moneybags communism: invest cold hard cash in its largely insolvent state-owned banks, put your reputation on ...
No The Bank Doesnt Want Your House By: John Nazareno
When faced with the threat of foreclosure it is very easy to assume that your bank or lender simply wants to foreclose on your home and it isn't worth the fight to keep the home. This defeatist attitude will not help you keep your home, and the reality is that ...
The information provided in this article and/or the comments is the sole responsibility of their respective authors and does not necessarily reflect the opinion of  does not endorse any article and/or comments published by our web users unless otherwise noted. 

Member Panel

login to submit articles and more


  • » Active Categories: 419
  • » Active Articles:252603
  • » Active Authors:31917
  • » Active Members: 38237
  • » Statistics Updated:
    - Tue Sep 1st, 2020 09:28AM EST