| China’s commercial Banks’ personal finance services have been gradually developing since 1990.With the rapid development of China’s economy since the reform and opening up,the wealth of Chinese residents has increased rapidly.At the same time,high inflation is eroding people’s wealth.Therefore,the public is increasingly eager for the maintenance and appreciation of assets,the rational allocation of assets and other related issues.The contradiction between people’s increasing desire for wealth preservation and appreciation and the backward traditional business model of the banking industry is also increasingly intensified.On the other hand,the rapid rise of Internet finance represented by Ant Finance,Jing Dong Finance,Lu Jinsuo,etc.has also brought unprecedented severe impact to various financial businesses of traditional banking industry.In terms of external supervision,China banking and insurance regulatory commission has issued a series of regulatory documents on bank financial management,which means that the state council and China banking and insurance regulatory commission will take this as the basis to further regulate the sales of financial products.In today’s society where Banks are responsible for their own profits and losses,if the banking industry remains immovable and does not actively seek change through transformation and reform,it is also likely to face the situation of bankruptcy and obsoleted.On the other hand,the rapid development of personal finance demand of residents also makes the prospect of personal finance business very broad,which will certainly become the next focus of the bank’s profit growth.Therefore,how to stand out in the rapidly changing complex financial environment,accurately grasp the pulse of the market,meet the growing financial needs of customers,and on this basis to develop accurate and effective marketing strategies,improve competitiveness and market share,has become an important topic for the development of Banks.This paper takes the personal finance marketing strategy of Lin Yi branch of X bank as the research object,and analyzes the relevant research theories of personal finance product marketing strategy of domestic and foreign commercial Banks.SWOT analysis of X bank personal finance marketing strategies,and connecting with the interview X bank and China merchants,Ping An Bank and so on several major Banks finance manager and part of the customer,discovered X bank Lin Yi branch in personal finance product marketing exist the following problems: financial product information and online marketing are relatively backward;Financial planners’ service awareness is relatively insufficient and they do not have a comprehensive understanding of customers.The classification of financial customers is fuzzy and the allocation of financial resources is insufficient.Product homogeneity is serious,innovation ability is insufficient;not fully exploiting the potential asset value of customers.Combined with the 4P theory,this paper analyzes the marketing strategy of X bank’s personal finance,and proposes specific professional financial recommendation for different customer groups from the aspects of product,price,channel and promotion.differentiated marketing strategies to improve customer stickiness;make good use of online tools to develop new channels of marketing and financial management;multi-channel publicity,floor marketing and other optimization measures.At the same time,the paper proposes to strengthen the informatization and online promotion of financial products.comprehensively improve the service awareness of financial planners and improve customer information registration;carry out multi-party cooperation,strengthen product innovation ability,dig deep customer potential,carry out marketing according to customer financial asset quality report and other five specific marketing measures.In addition,it also puts forward three safeguard measures,such as strengthening the construction of financial team,establishing and perfecting the performance appraisal mechanism,and improving the financial customer management system.It provides direction for the future development of personal finance services of Lin Yi branch of X bank,and also provides certain reference significance for commercial Banks in China to develop marketing strategies of personal finance products at this stage.However,the research results of this paper have not been implemented in enterprises,and their practical effectiveness has not been tested,which is one of the shortcomings of this paper. |
