Advertising Networking Fine tune strategies to attract clients and

grow business. Direct marketing .. Brand recall. Place advertisements in trade publications,

regional business newspapers. Inform customers about ranking of the

company.

Financial Services – experience & credence factor rule.

Cultivate trust and relate to customers Demonstrate capability and credibility Participate in community events that can

make a broker visible to an investor Brokers can effectively network Word of mouth publicity Positive referrals. Use chamber of commerce/ other business

networks to reach new clients and build relationships.

Networking is key

Publish articles on topics in the industry – this shows the competency of brokers and research analysts.

Take part in conferences and meet potential clients.

Appoint a marketing agency to research the best methods of promotion and formulate a plan of action

Do market research

This is relationship business. Trust is very important.

Wireless banking is revolutionizing the financial industry. It's radically transforming both services and customer expectations in societies around the globe. End users are demanding access to their money and financial information anytime, anywhere. Financial institutions know they need to move quickly to capitalize on this new trend.

Wireless banking occurs when a customer accesses a financial institution's networks through cellular phones, pagers, and personal digital assistants (or similar devices) via telecommunication companies' wireless networks.

There is always an inherent risk in wireless banking

There are connectivity issues, protocol challenges, and a constant flood of new devices onto the market.

Large institutions may find keeping pace especially difficult.

For data managers, the challenge will be to deliver data effectively across every platform, protocol, browser, and service provider

BFSI – banking, financial services, insurance

India – companies still use traditional marketing channels to spread awareness about products and services.

Indian firms slow to respond to e-techniques.

Equity broking firms in India – push strategy through traditional sales channels.

Indian banking services slow to adapt to Digital Marketing tactics

Indian insurance sector more tech savvy as they have used Google ads, TV, display advertising, radio advertising

India Info line, Money Control.com have established digital business model.

Mutual funds like DSP Black Rock, Reliance Mutual fund smartly promote their services through facebook.

Reliance Life Insurance, SBI Life promote business through social media.

India Info line, Money Control.com are enjoying early digital adopter benefits.

Money Control best example of how one should design and develop their online financial content publishing business model and engage financial consumers on a digital platform.

Few portals for loan and insurance services provide comparisons and recommendations have been fetching good traffic.

Dalal Street Journal ‘s Stock Market simulation game is a good example for creating awareness and engaging financial target audience on a digital platform.

Companies need to rethink and adjust the way they acquire new customers and retain current ones.

Creation of brand advocates within the customer base is important.

Experimentation with digital techniques rather than ad words or display.

Digital tools – social networks, viral video, blogs, customer interviews, blogs

Maintain relationship Long term planning is very important.

Banks – every person in a bank is performing a marketing role.

Proper segmentation of customers – rural segment, urban, low income group, high net worth individuals

Processes important Understand changing needs and

requirements of industrial segment

Know competition Provide Bank Locker facilities Auto renewal of fixed deposits Use of Technology in Banking Credit card charges waived off for 2 years Advertising campaigns Phone banking, ATM, Internet banking Personal banking branches Excellent Customer service Reasonable bank charges, attractive investment schemes for family Loans Automation in processing transactions Attractive bank branches – physical evidence

Promotion plays an important role. Advertising Publicity Sales Promotion – a temporary offer that is withdrawn after

a particular period Personal selling – Agents, brokers Word-of-mouth promotion Tele marketing Distribution channels. Use of IT

Product – Customers invest in mutual funds with capital appreciation, liquidity and safety. So, marketers need to design the product keeping these objectives in mind,

Price – Net Asset Value (NAV) NAV = Value of net assets of scheme/ number of

outstanding units Price per unit of mutual fund includes charges

levied by the company which is called load. Price of a mutual fund depends on the

performance of stocks held by the fund, stock market trends and also reputation of mutual fund company.

Distribution channels – own employees, agents, third party distribution companies, banks and post offices.

Many mutual funds have tied-up with banks to sell mutual funds through bank’s distribution channels.

HDFC Mutual fund and Reliance fund have tied up with Union Bank of India

LIC Mutual Fund has tied up with Bank of Rajasthan.

Post offices

Market competitive Differentiation is important Personal selling Advertising Strategic tie ups Innovation

Simple process design Better service quality Reduced Costs

Train employees, agents, distribution companies

Knowledge of mutual funds Companies use channels of distribution

like banks and post offices to give credibility to their services.

Companies also use their service personnel to reduce the perceived risk of customers.

Chandrasekhar

based on ‘Strategy of Proof’, a global Axa framework.

Proof is nothing but tangible evidence of answering customers’ queries about expectations in a manner that nobody else has.

On line term insurance policy across all towns in India

Tie ups with hospitals and doctors

Nation wide campaign Build greater customer awareness The digital platform is very crucial.

They worked hard on Search Engine Optimisation (SEO) and high impact banner ads on the Internet.

E-mail campaigns for behavioural targeting. Target internet users who particularly use

themedium for personal financial needs such as insurance. Contextual advertisements ensure thatrelevant messages appear on relevant websites when people search for such products.