Research On Strategy Of The Retail Business Marketing Channels Transition For A Bank

From the70s in past century, the international banking industry trend to return to the retail banking industry. Adapt to changing market conditions, the domestic commercial banks had to implement restructuring with China Construction Bank on behalf, to boost business network channel marketing capabilities and market competitiveness effectively. Compared with Industrial and Commercial Bank of China, Bank of China, China Construction Bank, A Bank had a certain gap in the individual business size, structure, profitability and development potentia etc., so its retail business transformation must be accelerated, building a main channel of network marketing to win market space with unconventional leaps and bounds, with the domestic first-class large-scale retail commercial banks constructed.Transformation of the retail business is the process of retail business strategic innovation fundamentally, which is the necessary conditions for modern commercial banks to adapt to internal and external business environment changes, for the direction of the retail business development grasped, for ideas changed, for the business structure optimized, for reengineering business processes, for transforming operational mechanisms, for the management means improved, for the quality enhanced, for comprehensive innovation of retail business management system, for a new retail business model builded, in order to achieve the sound operation of long-term sustainable retail business.The purpose of the retail business restructuring is to enhance the marketing efficiency of the network channels and the market competitiveness, so as to enhance the profits of a single point and the large-scale development of retail banking. simply speaking,that is the combination of hard switch and soft switch of the financial industry outlets.The Financial marketing boost mode of A Bank was based on the theory of service marketing, internal marketing, relationship marketing, etc., and the marketing channel constructionis was chosen as the marketing strategy that is the construction of network. The construction of the marketing channels and network marketing channel power were achieved through the retail business transformation projects for Outlets. Through transformation, it was to reach target of good image at outlets, reasonable function partition, good service quality, efficient service, strong sales ability, and good labor union with customer satisfaction degree and employee satisfaction significantly improved. Channel restructuring includes a hard switch and soft switch as the two aspects. The hard switch included the location selection and analysis of outlets, rationalization layout within outlets, the classification and grading management of outlets etc.. The soft switch included4measures that were the upgrading of outlet staffing marketing skills, customer relationship management, outlet on-site management. After transformation of outlets as the main marketing, the outlet marketing force had been improved significantly. It can be seen that the channel power enhancing not only were based on the management construction of channel hardware layout and personal efforts of outlet front-line staffs, but also based on identifying recommended, guiding triage, service marketing and relationship maintenance associated with the six key points that were customer value judgment, effective communication skills, customer needs analysis, product portfolio marketing, customer relationship management and customer value increasing realization, and build perfect network marketing service and customer management system, so as to achieve the goal of two upgrade:one was to enhance the marketing skills of the staff and solving the problem of employees having no idea, and the other was to enhance the sales capacity of the network and to reduce the outlets with little sale. The operation of the process aimed at changing staff marketing concept from product-centric to customer-centric, changing marketing model from fighting single-handedly and single marketing to teamwork andintegrated marketing.For A Bank, a large publicly traded commercial bank, the transformation projects of outlets marketing channels and outlets retail business were researched as the studying object, with in-depth discussion on the enhancing strategies of financial institutions marketing channels.The background, meaning, ideas, methods and papers innovation were introduced in the paper firstly. Then the financial marketing, financial marketing practice at home and abroad and the theory of enhancing financial network marketing were introductied in detail. The retail business marketing environment of financial network of A Bank the was analyzed, a comprehensive interpretation of the facing opportunities and threats was made with SWOT analysis method. on this basis, the success for the consulting projects of outlets transformation of A Bank was analyzed, with customer-centric tiered marketing strategy of A Bank introduced, with a comprehensive summary of the influnce of the reengineering and the construction of operating network hardware and software as two aspects of the business process on the marketing power of the network channels. Finally, strategis were designed for A Bank to enhance network channel marketing in four aspects including business process optimizationetc.