Last updated on March 22nd, 2024 at 06:05 am
New-age banking and finance is a new way of doing business that has emerged with the advent of the internet. New-age banking and finance are about providing loans or deposits and partnering with merchants to bring them through marketing activities.
Marketing Management course can be used in finance because it provides an integrated approach towards all aspects of marketing, such as generating leads by identifying target markets and segmenting them based on customer needs; developing strategies to promote products or services; creating awareness about product/service; executing promotional campaigns for visibility.
How is marketing management applicable in New Age Banking and Finance?
The new-age banking system considers all factors contributing to the development of the banking sector-whether political, economic, or social. In this context, marketing management is one key factor that can help banks design and implement their strategies to capture more market share from other players. The marketing strategy also includes customer relationship management (CRM), which allows you to understand your customers' needs and serve them better with relevant offers.
Financial services marketing strategies for banks and financial institutions:
Customer Outreach
Customer outreach is one of the traditional marketing strategies for banks & financial institutions to adopt & it’s most effective. Customer outreach is simply the concept of reaching out to customers to fill existing needs surrounding education, awareness, and help. Customer Outreach works to build awareness, customer loyalty, and interest in products and services.
Self-Service and Digitization
Millennials & Generation Z often do everything themselves. Setting up & promoting digitized financial products & customer service/experience portals enable customers to sign up for services online, change products and services online, and view information without entering a branch. This is an effective & growing trend for financial organizations.
Social Media
Smart & consistent social media platforms are a valuable financial marketing strategy that cannot be ignored. Millennials & Generation Z use social media platforms to connect with brands, learn from peers, and follow current events and news. A steady presence on websites offers value to followers, builds brand trust, creates marketing opportunities, & grows the customer base.
Automation and Big Data
Most financial organizations carry bulk data, and before they know what to do with it, it rapidly changes. Customer experience platforms & automation tools make data utilization easier & apply it to the marketing strategy for financial services.
Digital Storytelling
Storytelling is one of the most effective marketing mediums, whether on social media, video, ads, or cross-channel platforms. All you need to do is encompass your marketing strategy telling a story that captures interest & evokes interest, excites, and moves your target group.
Grow with a Degree at Imarticus Learning:
Imarticus Learning offers masters-level banking and finance management program with assured placement to match up with the competition.
The program is for fresher graduates as well as professionals who want to explore new opportunities through learning.
The Post Graduate in New Age Banking is a comprehensive, 24-month unique combination of two industry-endorsed New Age Banking & Finance Management programs designed to upgrade existing careers in the Finance industry.
The programs have unique curriculums and parallel learning paths that make it ideal for professionals looking to upgrade their BFSI careers. The exceptional approach to professional education redefines industry knowledge & effectively compounds occupational abilities.
The course includes an overview of management with credits on management theories in Strategic Management, Financial Accounting, Business Law, Marketing, Communications, Information Systems, HR & more.
For further details on business analytics courses in India, contact us through the Live Chat Support system or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Hyderabad, Delhi, Gurgaon, and Ahmedabad.
