Research On Marketing Strategy Of Internet Finance Business Of China Construction Bank Ningxia Branch

With the accelerated development of big data,Internet of Things,5G,blockchain and cloud computing,the world has entered the post-COVID-19 era,and social informatization,networking,digitization,and intelligence have been further deepened.With the rapid rise of the Internet economy,cross-border competition has seriously impacted the traditional economic structure,and it is no longer the traditional competitors that subvert the industry.In this context,commercial banks have embarked on the road of Internet financial transformation.It will transform into a ubiquitous,anytime,anywhere online service.With the opening of the marketization of data elements and the gradual standardization of data collection and use,data interconnection,and sharing will definitely have a profound impact on the promotion of the digital operation transformation of commercial banks.China Construction Bank is trying to explore the " second development curve" in the transformation and development of Internet finance through technological innovation and data-driven,and find a development path that integrates with " the first curve".China Construction Bank Ningxia Branch(hereinafter referred to as "Ningxia CCB")is a first-tier branch of China Construction Bank and is a concrete practitioner of Internet finance.Ningxia CCB attaches great importance to the development of Internet finance business,and proposes to give full play to the role of online main position,adhere to mobile priority,and focus on social pain points,corporate blockages,difficulties for the masses,enhance value contribution,and facilitate transformation and development.After more than ten years of development,Ningxia CCB has achieved a certain market position in the local area.A number of Internet financial business indicators such as the total number of mobile banking users ranked first among the four state banks(ICBC,ABC,BOC and CCB).However,in recent years,Ningxia CCB has faced difficulties such as weak customer growth,single marketing method,poor marketing effect,and insufficient scene customer acquisition ability.Specific to 7Ps,it is manifested as serious product homogeneity and lack of originality;product design does not fully consider "customer-centric";product function application promotion is insufficient,lack of cross-selling and linkage marketing;product service prices lack competitive advantage;reach customer channels are relatively single,and online and offline channels lack synergy;customers have low awareness and participation in Ningxia CCB’s promotional activities;promotional forms are single;pre-heating and publicity work for promotional activities is not in place;professional team building still needs to be improved;The assessment and incentive mechanism still needs to be improved;the digital operation ability of long-tail customers needs to be improved and so on."You must not find a new continent along the old map",the traditional way of playing is no longer suitable for changing customer needs and market trends.In order to cope with the increasingly severe market competition and consolidate and develop its own dominant position,it is urgent to conduct systematic analysis and research on the overall development of Ningxia CCB’s Internet financial business,the internal and external environment for the development of Internet financial business,and the pros and cons of current marketing strategies.It is to improve and optimize the marketing strategy and enhance the ability and level of customer acquisition and activation.Therefore,this article attempts to start from the theoretical foundations of "Long Tail Theory","7Ps","Second Development Curve" and "Internet Finance Ecology",to trace back the development process of Ningxia CCB’s Internet financial business,combine the internal and external environment of Ningxia CCB,use PEST,SWOT,Porter’s five forces analysis tools,analyze the advantages,disadvantages,opportunities and threats of Ningxia CCB’s development of Internet financial business,and deeply understand the problems and deficiencies of Ningxia CCB’s Internet financial business marketing strategy through questionnaires,internal interviews and other forms.Through analysis,it is concluded that Ningxia Branch’s Internet finance business marketing ideas:First,relying on the scenario platform,analyze massive data,define customer models and labels,and configure products,rights,and risk control strategies around customers’ personalized preferences.,using a variety of online and offline contact modes to deliver the bank’s products and services to customers.The second is to carry out differentiated marketing activities for different customer groups in the region.Ningxia CCB should adhere to the tiered maintenance of all customers,carry out tiered operation and maintenance of the bank’s individual customers and corporate customers through multiple dimensions,and improve the level of refined marketing.Finally,this paper proposes a specific marketing strategy optimization plan from the aspects of product,price,channel,promotion,personnel,tangible display,service process,etc.,and formulates support measures in combination with the optimization plan.