Best Practices in Marketing Retail Banking Products 2015 Market Analysis, Size, Forecast


This global report discusses key marketing strategies, adopted by banks in both developed and emerging economies, which are designed to strengthen their brand values and target diverse customer groups through effective segmentation and product positioning. In addition, the report discusses key marketing trends in the retail banking industry and the use of marketing analytics by retail banks to understand customers' buying behavior. Moreover, the report highlights key challenges faced by banks when formulating effective marketing campaigns.

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Executive summary

The global banking industry is changing the way it markets products and services, with banks in both developed and emerging economies adopting customer segmentation strategies to distinguish their products from those of their competitors. These strategies have increased banks’ client bases, and the number of potential customers. To capitalize on this, banks have expanded their product portfolios, adopted pricing strategies, and expanded into new regions. Banks are also focusing on the technological aspects of offering their products; using analytics to understand consumers’ purchasing behaviors and preferences in order to provide personalized products and an improved customer experience.

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Promotional campaigns through traditional channels such as television, radio, print media and telemarketing have been among key initiatives taken by banks to increase brand awareness. The proliferation of video and mobile technology has also enabled banks to market their products and services online, through mobile channels and social media. As internet access and smartphone adoption increase, so does consumer demand for...