Research On Customer Trade Event Based Precision Marketing In Bank Of Communications’ Retail Business

As our macroeconomic policies are shrinking and the banking industry competition intensified, traditional extensive customer marketing strategy couldn’t help banks in retail business. Precision marketing which adopts refined customer development strategy and differentiated service for different types of customers has become the focus of retail business in banks.This paper is primarily to investigate the application, during marketing activities, of event-type precision marketing based on customer transaction behaviors in retail sector of Bank of Communications. We start with the investigation of event-type precision marketing, combining with the Bank’s own growth strategy, selecting retail sector as our specific research object, and then elaborate that through using customer information and customer transaction informat ion in data warehouse and CRM system, how to form data model to design event-type precision marketing and find out the possible marketing opportunity behind transaction events so as to instruct marketing activities in retail sector, which can achieve the goal of raising customer acquisition, reservation, loyalty and enterprise profits.The purpose of our research is to investigate the congruent ways and means that retail sector of Banks of Communications can roll out event-type precision marketing based on customer transactions. The major emphasis is to study the process of discovery and definition of customer transaction events during event-type precision marketing.The investigation scope of this paper refers to precision marketing, CRM, data mining etc. Under the guideline of customer information in Bank of Communications Ningbo branch, using questionnaire to survey present marketing situation in retail sector, this paper studies development pattern and process of current marketing activities in Bank of Communications Ningbo branch, analyzes the changes of customer transaction behaviors, chooses customer deposit and insurance broker to analyze. Employing the method of data mining to find out the marketing opportunity behind these transaction events, we roll out marketing activities according to set word art through telemarketing. The comparison between actual sales and traditional sales verifies the feasibility of precision marketing in retail sector of Bank of Communications.