DIGITAL BANKING Tips - Tip 23: Digital Marketing

Digitalization transformed customer behaviors and their expectations from banking; this forces us to change the way we do marketing. As a result of this transformation, Customer decision journeys have been altered radically and financial services are under heavy pressure to adapt this. At present, “Cross channel”, “targeted” and “just in time” offers are required to attract the attention of digital customers both at online and offline platforms. As the role defined for Digital Channels upgraded from Transaction Migration to Revenue Generation, these channels can help the bank while moving to “all marketing must be digital marketing” era and succeed in the new economy.  

Marketing our bank’s products or services using digital technologies could be the simple definition of Digital Marketing. Although the definition is quite simple, the impact it would create on banking is quite large. It necessitates digitalizing processes and the management of every single step of Customer Decision Journeys. Smart Decision making actions supported by a strong CRM integration would be the key that unlocks the potential of the new opportunities.  

This is the short version of the post. 

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