Research On The Innovation Of Credit Card Marketing In China's Commercial Banks

With the socio-economic development and the changing concept of people's consumption,the credit card market has developed rapidly.The competition in the industry is becoming increasingly fierce,so the marketing innovation becomes a necessity.China Merchants Bank entered the industry in 2002,the amount of its credit card issuance reached 10 million in only 5 years.In 2016,the volume of cumulative issued credit card of China Merchants has reached 8.03 million,the domestic market share is on the top three.China Merchants Bank paid great attention to marketing innovation,its successful development is even codified into the Harvard textbook.The marketing innovation of China Merchants Bank is embodied in product,operation,promotion and customer service.(1)In product innovation,China Merchants Bank innovated the core,form and derivative services of the product,riched and expanded the product features.(2)In the operational innovation,China Merchants Bank continued to introduce and upgrade the operating system,reduced the operational risk as much as possible,introduced advanced technology to create a fast payment experience.(3)In the promotion innovation,marketing theme,sales channels and sales incentives are renewed.Sports,music and other trendy marketing theme are chosen,a variety of consumer incentives are taken.(4)In customer service innovation,China Merchants Bank focused on creating personalized,differentiated and intelligent customer service.Intelligent identification,man-machine collaboration and other technology were used to upgrade service platform.Through the case,we can get some enlightenment:(1)Speed up the credit card product innovation,especially the joint card and high-end credit card.Pay attention to credit card product staging business,and promote the combination of credit card and the Internet.(2)Expand the marketing channels.Make full use of existing resources and channels,such as social media,mobile applications,Internet and others.(3)Improve the means of promotion.Establish a correct marketing concept,improve the credit card marketing incentive mechanism to strengthen the credit card daily publicity.(4)Strengthen the supporting services to enhance customer service levels.Use scientific and technological means to enhance customer retention and strengthen risk control.