Channel classification
Online financial marketing channels can be divided into direct network financial channels and indirect network financial channels according to whether they pass through the intermediary link.
1. Direct online financial channels Direct online financial channels refer to online channels that are generally established directly by financial institutions without the participation of intermediaries. Financial service products can be directly delivered or sold to customers through this network channel. In reality, most online financial service providers use electronic networks such as computers, telephones, and mobile phones as media to directly distribute financial products to customers with the characteristic of customer self-service. For example, most financial institutions have established their own online service platforms, and customers can enjoy online financial products and services as long as they log on to the homepage of the online financial service provider.
2. Indirect online financial channels Indirect online financial channels refer to the indirect completion of online financial services through intermediaries. Since the online financial market itself does not have the production of logistics, only the flow of capital and information, consumers cannot effectively integrate the information they need. Therefore, market intermediaries intervene to integrate information through professional services and integrate financial products. The provider and the receiver are connected.
For example, an independent financial advisory website can provide customers with consulting services and represent the service products of online financial service providers. Another example is that online financial brokers can establish extensive contacts with customers and potential consumers, introduce online financial products to them, and act as a bridge between the providers and receivers of online financial products.
Features
Online financial marketing absorbs the essence of modern marketing theory, and at the same time combines with the specific business practices of modern financial companies, and reflects the following characteristics:
(1) Internet financial marketing is a kind of concept marketing. Internet financial services have spatial advantages that are not restricted by regions, 365 days × 24 hours time advantages, capital settlement and information transmission speed advantages, multi-level and multi-angle personalization Advantages, low-cost cost advantages, to meet the high-growth, fast-paced consumer demand of customers in the digital economy era.
Financial companies promote these advantages to customers through online financial marketing activities, help customers understand their needs, help customers understand the functions that online financial products and services can achieve, and establish a "customer-centric, The marketing concept of "customer value-oriented" cultivates customers' autonomous and self-service modern financial consumption concepts and consumption habits, and transforms passive services triggered by customers into active marketing services triggered by enterprises.
(2) Online financial marketing is a kind of brand marketing. With the continuous development of new financial products and the increasing variety of products, brand marketing is more important than the functional marketing of financial products in online financial marketing. Due to the homogeneity and imitation of financial service products, the functions of the services provided by the same type of financial enterprises are roughly the same. When customers receive financial services, they are often not affected by the service profit or convenience brought by the financial product functions. Attract, but to be attracted by well-known brands. Therefore, more and more financial companies are striving to build brand identity among online customers, such as China Merchants Bank's online banking brand "One Net", and Industrial and Commercial Bank of China's personal online banking brand "Finance@". "Home" has formed its own brand effect in commercial banks.
(3) Online financial marketing is a kind of relationship marketing. Financial marketing is a process of interacting with customers, competitors, suppliers, distributors, government agencies and social organizations, and correctly handling these individuals The relationship with the organization is the core of marketing and the key to the success or failure of a financial enterprise. The purpose of relationship marketing is to form long-term, interdependent relationships with customers, develop continuous exchanges between customers and products and services, and jointly seek long-term strategic development to increase brand loyalty and consolidate the market, and promote continuous product sales. . Online financial marketing, like all marketing activities, is based on customer satisfaction as the core, focusing on maintaining customers, based on the establishment and development of high-level and close customer relationships, not only the promotion of products and service functions, but also the collection of customers’ Demands, feedback of customer opinions and suggestions, acceptance of product and service inquiries, after-sales service and help customers deal with related business, etc., reflect the basic concept of relationship marketing.
(4) Internet financial marketing is a kind of objective law analysis of value marketing from market exchange, and value recognition is the original motivation for customers to agree to exchange. In online financial marketing activities, allowing customers to feel value and obtain value satisfaction is a key factor for online financial products and services to form a competitive advantage. Customers' use value and value-added effects of products and services often require external guidance to obtain them. Online financial marketing emphasizes the cultivation of customer values, such as the use of business outlets to organize briefings, door-to-door visits, and the use of various media for information communication and transmission, including the use of new communication methods such as the Internet, online surveys or online forums , E-mail, etc., to realize the interactive communication between relevant functional departments of the enterprise and customers, to help customers discover the value of products and services, feel that the value exists, and ultimately use the value.
(5) Online financial marketing is an intangible service that the products provided by the financial industry for direct marketing. Before the customer purchases intangible financial services, there is no way to use the sense organs to feel its value and use effect. Only in the process of receiving the service can the customer feel the quality and value of the financial service. The intangible and inseparable nature of financial service products has prompted financial service marketing to basically adopt direct sales channels to sell various financial services face to face to customers.
The face-to-face marketing embodied in online financial marketing, in addition to the face-to-face marketing between business personnel and customers, but also direct face-to-face marketing with customers through products, that is, sensory marketing. This marketing method is easier to attract customers' attention, and has unique advantages that other traditional financial product marketing does not have. For example, online banking can be viewed, telephone banking can be listened to, mobile banking and self-service banking can be "touched" and so on.
Strategy determination
With the challenges and pressures of economic globalization, financial internationalization, and information technology, and with the initial formation of a buyer’s market in China’s financial market, financial institutions, especially The business strategy of commercial banks has shifted from pursuing "efficiency of scale" to digging for "customer benefits": customers will increasingly become the bank's most important resource. Financial institutions used to focus on outlets and interpersonal relationships, and compete with customers indiscriminately In the future, it will transition to a customer-centric competition model and development strategy, which will be specifically expressed in segmenting customer value, positioning the market for different customer groups, and providing financial products and services that meet customer needs with the help of advanced information technology tools , To develop a high-efficiency customer base.
(1)Online market research strategy
Before conducting every financial business innovation, it is very important to conduct adequate market research. Online financial products The launch of the product is different from other manufactured products and consumer products in that it is inseparable from the economic situation, economic cycle, residents’ income, and social stability in a certain period of time. It also requires a certain number or range of customers to use funds and overdraft within a certain period of time. A comprehensive understanding of the quota and credit status can identify accurate market gaps, market segmentation, and determine target customer groups.
Online financial services must also continuously collect and feedback market information and adjust marketing strategies in a timely manner. As a stage of the entire marketing strategy, how to collect information, analyze information, improve products, and improve services in a timely manner is extremely important for the next step to continue to consolidate and expand market share. One of the characteristics of online financial services is that it can provide services to all customers Follow up and analyze the specific information of the customer’s service in a timely manner. Setting a survey button on the web service page to conduct online surveys is a very simple way to understand the true thoughts and needs of customers.
In addition, business The bank’s telephone banking system has set up a 24-hour customer complaint center to continuously collect customer opinions and indirectly analyze the actual needs of customers. Regular business talks, business recommendations, news seminars and other forms can also directly and in-depth understanding Customer information, so as to continuously adjust marketing strategies and improve financial services.
1. The characteristics of network databases
The results of network research can be aggregated to establish a network database, which is the basis of network market analysis Compared with traditional databases, network databases have three outstanding advantages.
1)Dynamic updates
In traditional database marketing, whether it is acquiring new customer information or It takes a long time to track the responses of regular customers, and the feedback rate is usually low. The collected feedback information also requires tedious manual entry. Therefore, the database update efficiency is very low, the update cycle is relatively long, and it also makes it expired, The percentage of invalid data records is relatively high, and the maintenance cost of the database is correspondingly relatively large.
Network database has a large amount of data, is easy to modify, can realize dynamic data update, and is convenient for remote Maintenance and other advantages can also realize self-renewal of customer information. The dynamic update function of the network database not only saves a lot of time and money, but also realizes the marketing positioning more accurately, which helps to improve the marketing effect.
2) Customers take the initiative to join
It is not enough to rely on the database of existing customer information. In addition to the continuous update and maintenance of the existing information, it is also necessary to continuously explore the information of potential customers This work is also an important part of the database marketing strategy. Without the use of the Internet, it is generally difficult to find information about potential customers, and it will cost a lot. For example, using opportunities such as prize sales or free use to require customers to fill out a form containing useful information, not only requires a lot of investment and Manpower, but also limited by geographic area, the coverage is very limited.
In the network marketing environment, it is much more convenient to increase customer data, and it is often the database where customers voluntarily join the website. The latest survey shows that in order to obtain personalized services or obtain valuable information, more than 50% of customers are willing to provide some of their personal information.
3)Improve customer relations
An excellent customer database is an important guarantee for the success of online marketing. On the Internet, customers want more personalized services. Providing targeted services according to customers' personal needs is the basic function of online database marketing. Therefore, online database marketing is the most effective tool for improving customer relationships.
2. Types of network databases
Network researchers generally use two methods to use databases, one is to use the existing database in the network, and the other is to establish the company's own database.
1) Browser-based database
The browser-based database includes simple text file fields and complex homepages with charts and formatted text. The browser generally downloads the entire database file to search for the target object. For ease of use, such database files generally have a reasonable size. If the database exceeds 100KB, divide it into several parts in a logical order, and attach a content summary at the beginning of each part to facilitate the visitor to choose the content he is interested in.
2) Linked database
Usually, HTML editor is used to create. Like other text files, database files can be linked. By writing links into the database, providing HTML text format and using logical methods to organize database raw materials, high-quality databases can be created. Because the source database changes at any time, the user needs to delete the old text file and replace it with a text file containing the latest information. In addition to implementing links to other chapters at the beginning of the file, you can also repeat links from these chapters to the beginning of the file, or link to the beginning of any chapter. This type of database requires the company to invest more time and effort. But for users, this kind of database is the most convenient.
3) Server-based databases
Server-based databases are those that contain a huge amount of information or need to be replaced in time. This kind of database uses HTML forms, not only can display daily homepage information, but the text in it also allows users to enter new information, and control keys allow users to make their own choices. In order to install, store and retain this kind of database, the company needs to get in touch with the relevant provider of network services and reach an agreement.
In addition to the above-mentioned network-based databases, the permanent databases on corporate business websites mainly include customer databases and product databases.
4)Customer database
Customers are the focus of the company, and how to win and retain customers is the focus of company marketing. In a highly competitive market, in order to achieve the goal of profitability, the company must keep abreast of customer needs and changes, and design, produce, and position products based on their concepts. If you can effectively use database technology, analyze the customer market and predict potential customer markets based on effective data such as customer habits, purchase preferences, and psychological characteristics, so as to serve customers more effectively. Therefore, the company's customer database is one of the most important databases in the marketing process, and the establishment and improvement of the customer database is an important factor in the success or failure of the company.
Financial institutions or market research institutions have a relatively complete customer database, and the development of market research activities will be more targeted. Appropriate samples can be screened from the customer database for investigation, which can effectively save investigations. Time and cost, and improve the accuracy of the survey results.
5) Product database
The online financial business product database stores the specific introduction, service content, price, service time, service requirements and other specific content of all financial products, and users can browse freely , Comparative analysis. The comprehensive financial product database even contains digital data of similar products from different financial institutions, facilitating users' decision-making.
(2) Market segmentation strategy
Before launching new network services, financial institutions should be deployed by the headquarters, and subordinate branches actively participate in and cooperate with the integration and dynamics of the headquarters The construction of a data warehouse can inquire about the credit status and capital utilization of each customer, so as to distinguish the contribution of different customers to the bank, so as to identify high-quality customers and provide them with differentiated services through pricing methods. The business innovation department shall organize and classify the collected customer-related information necessary to provide information support for business development.
Online financial customers are very different from traditional financial customer groups, and there are also differences in determining the subdivision criteria. The traditional population size and geographical distribution are meaningless in terms of online financial business, because online business emphasizes scope economic effects, rather than traditional business focus on market share. Online businesses that have broken through the limitations of time and space pay more attention to the customer’s service volume, service peculiarities, psychological and behavioral variables, etc., to determine the target market, and carry out integration and reorganization, seeking business innovation space, and formulating practical Customer strategy. Like other corporate market segments, financial institutions must consider not only their own strength, but also the situation of their competitors when they intervene in the network financial business segment. After segmenting the market, we must strive to introduce various differentiated online financial products to target customers and target markets, so that competitors cannot reach their own levels in the short term, win the market, strive for the initiative, and obtain excess profits.
1. Service volume
The processing cost of online finance is not proportional to the size of the business volume. Therefore, customers with large business volume have obvious advantages over financial institutions. For network services, big business customers should be put first.
2. Contribution rate
Not all online financial businesses make money the same. The nature of the business determines the contribution rate of different businesses to financial institutions is different, so financial institutions There should be choices when conducting online business promotions, focusing on businesses with high contribution rates.
3. Customer nature
Not all customers can bring huge benefits to the financial industry. According to the 20/80 theory, 20% of high-quality customers create the financial industry 80 % Profit. Therefore, it is very important to distinguish between different types of customers. For high-quality customers, it is necessary to provide high-quality services in a targeted manner.
4. Customer psychology
In terms of customers, they will have a psychological preference for certain businesses, making it easier to choose or accept such businesses. For example, customers like services that directly bring benefits to them, and they are more negative for long-term services or services that cannot produce obvious benefits in the short term.
5. Customer behavior
When individual customers receive online financial services, not all decisions are made after rational analysis, but often because of purchase behavior. For more familiar businesses or services that the surrounding people have already received, they will be more likely to generate purchase intentions. For some routine services, customers will easily accept it. Therefore, behavioral factors such as the timing and frequency of customers' acceptance of online financial products must be considered.
From the perspective of market conditions, the following market segments are conducive to the marketing of online financial products:
1. Most of the young and middle-aged consumers are open-minded and active in thinking. , Accept new things quickly, easily accept new services and consumer concepts, and have a strong ability to accept online financial products, and should be used as a key marketing target.
2. Professional market with high cultural standards
This group of people mainly includes scientific and technical personnel, teachers, students, government officials, financial practitioners, senior company managers, etc. . A survey by relevant institutions found that more than 65% of those with a college degree or above express their willingness to use electronic money. They have a strong understanding of the promotion and application of science and technology, and are familiar with the operation of electronic computers, so they are more likely to accept online financial products.
3. Middle- and high-income market
According to the World Bank’s "World Development Indicators" report, my country’s national residents’ Gini coefficient has reached 0.397, and urban residents’ Gini coefficient is 0.295. , The Gini coefficient of rural residents is 0.3361. It seems that the gap between the rich and the poor in our country is at a relatively low level in the international arena, but there is still a phenomenon that a relatively small number of people account for a larger part of the total income, so it should be the focus of the online financial marketing market.
4. Male consumer market
From a psychological point of view, men have stronger curiosity and desire to explore new things than women, and they have a certain social status and higher Income men tend to favor online financial products more easily, so men can be one of the main targets of marketing.
5. Urban consumer market
The proportion of Internet users in Chinese cities is relatively high in the country, and the Internet penetration in coastal cities and central cities is higher than in mainland cities And the vast rural areas. Therefore, the marketing objects of online financial products are mainly concentrated in the above-mentioned regions, and marketing activities should be targeted.
(3) Target market strategy
The target market is to enter the specific market segment of the online financial market, or is a financial customer group with a certain demand that it intends to meet. Financial institutions can have three choices in online marketing: non-differentiated marketing strategies, differentiated marketing strategies, and concentrated marketing strategies. The non-differentiated marketing strategy is to treat the overall market as a big market without segmentation, and treat it with a unified product and a unified marketing mix; the differential marketing strategy is to divide the overall market into a number of needs and desires that are roughly the same Then select some market segments as the target market based on corporate resources and marketing strength, and formulate different marketing mix strategies for each target market; centralized marketing strategy is to subdivide the overall market, only Choose one of these markets as the target market and concentrate the strength of the company for marketing activities.
Undifferentiated marketing strategy obviously does not meet the needs of modern market development, especially the market development in the network economy environment. In an environment with sufficient customer information, customer service categories can be differentiated based on the "contribution rate" of customers to financial institutions, and high-quality customers can be treated differently from ordinary customers, and a "differentiated" product or service strategy can be implemented. Relying on, create the advantages of online financial marketing.
In order for the financial industry to achieve specific marketing goals in the complex and changing online market environment, it must also combine the external environment, its own operating capabilities and actual business conditions, distinguish between different periods and stages, and adjust measures to time. , Formulate differentiated marketing competition strategies based on local conditions.
Implement product project differentiation, focus on promoting online financial products with stable returns, good development prospects, and relatively low market risks, and design targeted marketing programs. Implement customer differentiation, and provide customized service plans for high-quality customers who can bring comprehensive benefits, and provide services on preferential terms.
Online financial marketing must be customer-centric and adopt different strategies for different market segments to create a competitive advantage for online financial products.
(4) Integrated marketing communication strategy
According to the theory of integrated marketing communication, the online financial business should adopt an integrated marketing communication strategy, integrate various communication tools and methods in a unified manner, and adopt The "one voice, one face" expression and propaganda momentum shape the corporate image and product image, and appeal to consumers for the bank's USP (unique selling proposition).
First of all, we should combine network financial products with the business philosophy of financial institutions and other image elements, strengthen the image in product promotion, and in turn enhance the marketing effect of the product through the deepening of the image. It is necessary to focus on the combination of online propaganda and traditional media propaganda, emphasizing consistency and integrity. In terms of image, performance, brand promotion, and public relations communication and publicity, unified planning, unified organization, and unified action are adopted, image publicity and business publicity are linked to each other, and large-scale and three-dimensional integrated marketing and publicity are carried out in a combination of point and surface, so that various media can be combined with each other. This kind of promotional activities forms a three-dimensional propaganda network, which effectively creates a propaganda momentum. The "One Card" brand promotion and marketing campaign launched by China Merchants Bank with the theme of "crossing states and provinces, all-in-one cards" has made a successful attempt in this regard.
We should also pay attention to the establishment of two-way communication between financial institutions and the public, and strengthen marketing and publicity planning based on customer needs. Being customer-oriented is to "pay attention to consumers" instead of "please pay attention to consumers". This is the way of marketing communication from the outside to the inside, and the two-way communication between enterprises and consumers.
(5) One-to-one marketing strategy
As early as the early 1990s, Don Peppers put forward the new thinking of "customer share": that is to determine the success of an enterprise The key is not "market share", but "customer share." The so-called customer share is the share of a customer's total consumption, that is, the share of products or services in a customer's similar consumption. The product or service that occupies the customer's share is really getting the heart of the customer and has the customer's loyalty. The key to the marketing of online financial products is not how much market share they can obtain, but rather the share of online financial products in the same consumption of customers. In order to win valuable customers, network financial marketing must make targeted marketing plans and provide personalized services to different customers in order to remain invincible in market competition.