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PR and Branding in Retail Financial Services

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Published Date : Sep 2012

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No. of Pages : 90 Pages

  • PR and Branding in Retail Financial Services has changed the way bankers are tapping into the unbanked sector across the world
  • This report looks at successful marketing and PR strategies, and the use of various social media platforms in creating and maintaining a positive brand image
  • Taking a look at various social networking sites including Facebook and Twitter to build relationships with customers, the report also features case studies including Wells Fargo and Visa


A strong brand can drive a business to success and can even become its most valuable asset. Brands were originally developed as labels of ownership, as denoted by a name and a symbol, but they have come to represent much more. Building a successful brand requires, engaging and establishing an emotional connection to achieve advocacy. While the design and creativity of the brand is important, the brand is more about the total individuality or distinctiveness of the firm. Reputation is the key, and is formed in consumers mind based on experiences and the description of the company by others. Brand building and promotion are linked up with the people who work for the firm and effectively embody the brand. Long-term commitment is required to serve the unbanked market effectively. Time must be devoted to understand the characteristics, diversity and the financial services needs of the unbanked, and a mutually beneficial banking relationship, based on trust, has to be established.


This report will allow you to:

  • Gauge the current market status of PR and Branding in Retail Financial Services 
  • Identify the trends and innovations propelling the growth of brand value in banks
  • Gain insight into technology and infrastructure supporting electronic transactions
  • Scan the trends in developed markets and the opportunities in unbanked areas
  • Learn from the major players and their product portfolios
  • Analyse the overall market potential for emerging bankers

Reasons To Buy
  • Examines detailed insight into the value and role of the brand in the banking industry
  • Key industry statistics have been compiled to give a holistic view of the major markets 
  • There is a special emphasis on the opportunities available in untapped areas
  • Gain insight into key regulations governing the banking sector

Key Highlights
  • Brand name plays an important role in driving the business.
  • Importance of designing female friendly marketing strategies.
  • Marketing among the unbanked requires specific attention.
  • Affluent customers enjoy the major attention.
Table of Content

1 Executive Summary

2 Marketing

2.1 US Bank Improve Problem Resolution
2.1.1 California
2.1.2 Florida
2.1.3 Mid-Atlantic region
2.1.4 Midwest region
2.1.5 New England region
2.1.6 North Central region
2.1.7 Northwest region
2.1.8 South Central region
2.1.9 Southeast region
2.1.10 Southwest region
2.1.11 Texas
2.1.12 Stanchart's "Superhighway" to Drive Customer Growth
2.2 Akamai is leading player
2.2.1 Mango Gets Fruity With Finance
2.3 Targeting the "Walmart customer"
2.4 Bank of the West Launches "Guerrilla Marketing" Drive

3 Case studies - Blogging
3.1 Wells Fargo - Guided By History
3.2 Rabodirect - Executive Blog
3.3 Technology Credit Union Money Savvy
3.4 Capturing Customer Comments - First Direct

4 Social Networking Sites
4.1 Marketing in Social Networks
4.1.1 Marketing: Social media
4.1.2 Social media in banking
4.1.3 Private banks lagging behind in social media
4.1.4 Increasing the number of fans
4.1.5 Improve morale
4.1.6 Risk of brand damage
4.2 Joining the Conversation in Social Networks
4.2.1 Facebook applications
4.2.2 Peer to Peer (P2P) lending services:
4.2.3 Payments
4.2.4 Personal financial management
4.3 Case Studies
4.3.1 The Visa business network on Facebook
4.4 Twitter
4.4.1 Background on banks using Twitter
4.4.2 Listening to customers on Twitter
4.4.3 Interacting with customers on Twitter
4.4.4 Considerations for banks using twitter

5 Female Customers
5.1 Financial Advisers and Women
5.2 The Business Case for Targeting Financial Services at Women
5.2.1 HDFC Bank targets women with two new credit cards
5.2.2 Women power to lead in Austria
5.2.3 Ajman Bank launches women-only service in UAE
5.2.4 UniCredit may open women-oriented branches in CEE
5.2.5 Marketing to women at Citibank
5.3 Local Market Snapshots
5.4 Private Banking
5.4.1 Findings of the Understanding the Female Economy research report
5.4.2 The "emotional" element
5.5 Female Business Case Snapshot
5.6 The Importance of Financial Education
5.6.1 The US
5.6.2 Southeast Asia
5.6.3 The Indian scenario

6 Unbanked Customers
6.1 Who are the Unbanked?
6.2 Market Size - Global
6.3 Formal vs Informal Financial Institutions
6.4 Why are People Unbanked?
6.5 Drivers of Change
6.6 The Business Case for Banking the Unbanked
6.6.1 Union Bank of India targets the unbanked segment
6.6.2 SBI rolls out Mobicash m-banking trial
6.6.3 First Bank of Nigeria targets the unbanked with biometric ATM service
6.6.4 ABSA Bank launches Transact to target the unbanked
6.6.5 Capitec starts new store concept to attract the unbanked
6.6.6 Banamex to cover Latin America's unbanked
6.7 Strategies and Best Practices: Product Strategies
6.7.1 Designing products for the unbanked
6.7.2 Gateway products
6.7.3 Basic accounts
6.7.4 Check cashing
6.7.5 Bill payments
6.7.6 Stored-value cards
6.7.7 Payroll cards
6.7.8 Electronic welfare distribution
6.7.9 Cash-to-cash model
6.7.10 Cash-to-card model
6.7.11 Cash-to-account model
6.7.12 Account-to-account model
6.7.13 Account-to-card model
6.7.14 Account-to-cash model
6.7.15 Western Union International Bank
6.7.16 Credit products
6.8 Distribution Strategies
6.8.1 Branch channels
6.8.2 Branches in non-traditional locations
6.8.3 Portable branches
6.8.4 Mobile branches
6.8.5 Shared branching
6.8.6 Direct channels
6.8.7 ATMs and self-service kiosks
6.8.8 Smart cards
6.8.9 Mobile telephone banking
6.8.10 The internet
6.8.11 Third-party distribution channels
6.8.12 Retailers
6.8.13 Franchisees
6.8.14 Postal networks
6.8.15 Other financial institutions
6.8.16 Microfinance institutions
6.8.17 Community-based organizations
6.8.18 The workplace
6.8.19 Home Street Bank - employer-assisted housing
6.9 Marketing and Customer Relationship Strategies
6.9.1 Market segmentation
6.9.2 Gathering market information
6.9.3 Customer relations
6.9.4 Institution-wide commitment
6.9.5 Financial education
6.9.6 Simple and transparent product information
6.1 Marketing Channels
6.10.1 Grassroots marketing
6.10.2 Mainstream media
6.10.3 Cross-selling
6.11 Credit Risk Strategies
6.11.1 Managing repayments
6.11.2 Diversification
6.11.3 Alternative credit scores
6.11.4 Relationship lending
6.11.5 Group lending
6.11.6 Building a credit history
6.11.7 Financial education
6.11.8 Collateral and guarantees
6.11.9 Alternative proof of income
6.11.10 Mobile as a distribution channel
6.11.11 Mobile as a gateway product

7 Affluent Customers
7.1 Defining the Affluent Segment
7.2 What Drives the Affluent Segment?
7.2.1 Growing personal wealth
7.2.2 Demography drives greater concern for retirement provision
7.2.3 The shift from defined benefit to defined contribution in pension plans
7.2.4 Regulatory efforts to protect the retail client
7.3 Placing the Affluent Segment in the Wealth Management Context
7.3.1 The clients and their needs
7.3.2 Customer needs
7.3.3 Client profile: the issue of segmentation
7.3.4 Service level
7.4 Products for the Affluent Market
7.4.1 Traditional retail banking products
7.5 Investment and Advisory Products
7.5.1 Unsuccessful online business models for the affluent segment
7.5.2 Tailoring the product offering
7.6 Organizational Structure
7.6.1 Predominance of the retail function
7.6.2 Other structures
7.6.3 Physical relationship between affluent and mass-market networks
7.7 Profitability
7.7.1 What drives the profitability of an affluent client business?
7.7.2 Definition of affluent segment
7.7.3 Product mix
7.7.4 Client mix and profile
7.7.5 National market
7.7.6 Level of service
7.7.7 Business model
7.7.8 Market volatility
7.7.9 What do the available profit data indicate?
7.7.10 Market surveys
7.7.11 Issues to be addressed
7.8 Affluent Case Studies
7.8.1 UOB targets affluent Chinese
7.8.2 Metro Bank targets service for affluent customers
7.8.3 Citibank Korea targets emerging affluent
7.8.4 US$700 billion mass affluent opportunity

8 Turning Employers into Brand Advocates
8.1 Face to Face
8.2 People Surveys
8.3 Town Hall Meetings
8.4 Key Success Indicators for People Surveys
8.5 Key Success Indicators for Town Hall Meetings

List of Chart

Figure 1: Customer Satisfaction Index Ranking, California (Based on 1,000-Point Scale)
Figure 2: Customer Satisfaction Index Ranking, Florida (Based on 1,000-Point Scale)
Figure 3: Customer Satisfaction Index Ranking, Mid-Atlantic (Based on 1,000-Point Scale)
Figure 4: Customer Satisfaction Index Ranking, Midwest Region (Based on 1,000-Point Scale)
Figure 5: Customer Satisfaction Index Ranking, New England Region (Based on 1,000-Point Scale)
Figure 6: Customer Satisfaction Index Ranking, North Central region (Based on 1,000-Point Scale)
Figure 7: Customer Satisfaction Index Ranking, Northwest region (Based on 1,000-Point Scale)
Figure 8: Customer Satisfaction Index Ranking, South Central Region (Based on 1,000-Point Scale)
Figure 9: Customer Satisfaction Index Ranking, Southeast Region (Based on 1,000-Point Scale)
Figure 10: Customer Satisfaction Index Ranking, Southwest Region (Based on 1,000-Point Scale)
Figure 11: Customer Satisfaction Index Ranking, Texas (Based on 1,000-Point Scale)
Figure 12: Social Networking Penetration Among Worldwide Demographic Groups, October 2011 vs July 2010
Figure 13: The Male and Female Populations of Social Media Sites in the US
Figure 14: Average Hours per Visitor on Social Networking by Region
Figure 15: Social Networking Engagement Among Worldwide Demographic Groups
Figure 16: Age Distribution on Social Network sites in the US
Figure 17: Account Penetration: Adults with an Account at a Formal Financial Institution (%)

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