Brand Strategy

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by Alejandro Moreno8 views·Updated Oct 18, 2021
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  1. Hello. My name is Palmerino and I'm going to talk
  2. about marketing in financial institutions.
  3. First, we're going to talk about an academic document about
  4. consumer perceptions of banking services from students in South Africa.
  5. Let's go to the conceptual review.
  6. Okay. Consumer perception relates how individuals form opinions about companies
  7. and the services they offer through the purchase.
  8. They make consumers select, organize and interpret information in order
  9. to provide themselves with a meaningful and coherent view of
  10. services or products in order to acquire or discard them.
  11. Consumer banking activities is the provision of services by a
  12. bank to individual customers rather than to companies or other
  13. banks. The services include Savings since 19 sectional accounts, David
  14. and credit cards, 18 services, personal loans, among others.
  15. Open and distance learning is becoming increasingly recognized as a
  16. suitable and battle education experience providing access for individuals who
  17. want to receive education using tech tools to reach classroom
  18. from a far distance.
  19. Yeah, this is theoretical review.
  20. The rational choice theory talks about consumers trying to maximize
  21. their benefits and minimize their cost.
  22. Competition. Theory talks about companies trying to get customers pattern
  23. national loyalty through service excellence, meeting needs and providing meaningful
  24. products. Consumer perception theory explains consumer behavior but analyzing motivations
  25. for buying or not buying a certain product or services.
  26. The empirical review showed that services, marketing, developing trademarks and
  27. financial market management as the four most important factors.
  28. The methodology used was factor analysis of more than 50
  29. purples. The result To be treated competently.
  30. 2nd, there should be a strong commitment to meet needs.
  31. Third interaction with users family as influencers in decision making.
  32. This topic is relevant or classes.
  33. Financial institutions need to provide a clear message to actual
  34. and potential clients through their brand and be consistent with
  35. the services provided.
  36. Yeah. Now let's move to the second item, mastering quantum
  37. marketing, Banking.
  38. This is a podcast.
  39. Let's go to the concepts first.
  40. Marketing was focused on product, then came emotional marketing followed
  41. by the digital marketing.
  42. Then the more violent social media marketing with the disruption
  43. of the iphone and facebook.
  44. Finally we came to the five stage that is quantum
  45. marketing that involves spiritual reality and in artificial intelligence and
  46. what are the effects.
  47. There is a marketing shift requiring academia to adjust to
  48. the new reality.
  49. Professors need to be inside the companies or bring real
  50. experience to the classroom and universities need to rebuild the
  51. curriculum to adjust to the new realities of the markets
  52. and how does it affect marketing and financial services?
  53. Well, marketing becomes core in the company and it needs
  54. to lead the surrounding systems such as financial areas that
  55. lead us to.
  56. Is the marketing meets, we need to create a stickiness,
  57. influence preference and take into account the irrational behavior of
  58. consumers. Mhm.
  59. What is the marketing value proposition.
  60. First engagement.
  61. We need to engage to the customers.
  62. There are new h banks that are reading the clients
  63. in a better way.
  64. The service need to be consumer centric and we need
  65. to analyze that not only clients with assets but also
  66. climbs with liabilities, create income.
  67. Right? Marketing needs to make the experience of banking a
  68. fun one.
  69. Marketing needs to make the experience of banking a fun
  70. one game becomes data to play an important role with
  71. the internet of things.
  72. We're getting lots of data from wearables, appliances and a
  73. different kind of sources.
  74. Bring valuable data.
  75. We need to make sense of the data and act.
  76. That leads to the marketing in real time creating responses
  77. from companies when the client needs when the client is
  78. specs our response from the company.
  79. Of course with all the level of data there are
  80. privacy concerns and we need to transfer value to the
  81. clients in this proposition.
  82. Right? The next item.
  83. It's a tad talk of how to rob a bank
  84. First, it says the financial crisis led to an a
  85. level three young coast for the consumers and a loss
  86. of 10 million jobs.
  87. What are the four ingredients To Rob A Bank 1st
  88. grew up like crazy 2nd fight or make Crappy loans.
  89. That means high grade loans views extreme leverage and have
  90. previous laws reserves.
  91. That will lead to bank results reporting record bank profits.
  92. The C suite with great compensations.
  93. But in the long run the bank will fail.
  94. Yeah. After a deep analysis in the figures these behaviors
  95. destroyed banks and the economy as a whole.
  96. Mhm. But this crisis had warnings.
  97. Yeah. Price als.
  98. If you flip the value of rooms the creation of
  99. liar loans, those loans that do not check income of
  100. finds everything led to a response increase of layer loans
  101. coalition from lenders and the Fed did not ban liars
  102. loan even though they had the power to and a
  103. high deregulation After the crisis however, there was a 90%
  104. conviction rate.
  105. Nevertheless, we expect a future crisis why in perfect execution
  106. the FBI follows the mortgage bankers association guidance, the prosecutor
  107. small heads but the big ones escaped clean.
  108. What is the response that we need we need to
  109. get rid of the systemic risks.
  110. Institutions make them smaller reform compensation for the C suite
  111. and deal with the treaty deregulation.
  112. This prohibition and decriminalization of course taking into account that
  113. the bankers are the bigger contributors to parties.
  114. That means the ones that make the law but why
  115. is this?
  116. Ted talk important marketing Well institutions need to bring a
  117. message that is consisted inside and outside not only to
  118. the customers but also to employers to the regulators to
  119. everyone. And there is where marketing plays a beetle role.
  120. Communication needs to be consistent as we said before.
  121. Finally, we have the fourth item Financial marketing takes center
  122. stage. This is a podcast.
  123. Let's see the changes in industry.
  124. Financial institutions, you need to have a real customer experience.
  125. They need to support the community and build solutions for
  126. the future also requiring a fast response that means they
  127. to change fast insight and what happens to the brand.
  128. Well, there is a message change.
  129. We need to connect with the customer that is the
  130. now before we have a product and service feature centric
  131. marketing but why it occurs.
  132. Well there is a huge amount of data that it's
  133. coming from the outside.
  134. We're using technology and we found out that there is
  135. a micro target tune attended markets.
  136. We need to create individual offers and use external kings
  137. to create a great response and improve over time.
  138. Of course these teams for big bands could be internal
  139. due to the capacity that they have to create these
  140. new areas.
  141. But what does the shift in banks?
  142. Well financial institutions are slow.
  143. Why? Because they felt secure now they need to create
  144. better products.
  145. They need to get it into the data analytic.
  146. They need to have a clear communication through email, marketing,
  147. social media, content, marketing and deliver a message.
  148. They need to reinforce a brand that adds value.
  149. Use the data to cross ceilings, reinforcing the relationship with
  150. customers and paying for that performance a measure.
  151. Having the proper use of data.
  152. I'm marketing to personalize and customize the product and services.
  153. That means working around solutions for the customer.
  154. Well that was all for today.
  155. Thank you and have a nice day.
  156. Bye.