Research On New Media Marketing Strategy For The ‘BOC Cross Border GO’ APP

With the rapid development of the internet and cross-border business in China,the liberalization of regulatory policies and the gradual improvement of the COVID-19 pandemic,competition in the domestic cross-border financial market has reached a record high.Against the backdrop of technological innovation and banking transformation,ZG Bank,with its traditional strength in cross-border finance,is desperate to find a new growth area to ease the pressure of brutal competition.However,the boom in the internet has decreased offline cross-border business share of traditional banks year on year.Therefore,new media marketing strategies,to remain competitive in a fast-changing market,are of great importance to the survival and transformation of traditional banking products.The paper focuses on the example of ZG Bank’s cross-border financial APP "BOC Cross Border GO" to optimize its current new media marketing strategy.From the external environment and competition of “BOC Cross Border GO”,it analyses the necessity and urgency of optimizing the new media marketing strategy by using PEST analysis and Porter’s Five Forces model.Based on a questionnaire survey of users and in-depth interviews with frontline marketers,some shortcomings of the current new media marketing strategy of “BOC Cross Border GO” are analyzed and summarized.Finally,utilizing the 4I principle of new media marketing,the new media marketing strategy of “BOC Cross Border GO” is fully optimized and upgraded based on the user needs that summarized in the questionnaire survey.Optimized new media marketing strategies will not only enable the “BOC Cross Border GO” APP to more accurately grasp and respond to market opportunities.More importantly,ZG Bank,as a representative of a typical traditional state-owned bank,has many common problems in new media marketing with most of its current peers.Therefore,the research on the new media marketing strategy of “BOC Cross Border GO”can provide a reference for the transformation of their cross-border business in the industry.Furthermore,it also provides a reference for the new media marketing model of traditional financial industry in China.