Research On Private Banking Business Marketing Strategy Of Jilin Branch Of CCB

In recent years,persistently aggravating competitions among commercial banks and gradually increasing bank operating costs force commercial banks to focus their attention on those clients who are on the top of the private bank client pyramid,in order to chase and capture the commanding heights of the market.The significance of these high-net-worth clients to the bank is not limited to their profit contribution from personal business,but also because their professional backgrounds those who are mostly corporate executives or private entrepreneurs,establishing relationships with these high-net-worth clients can steadily promote commercial bank company business and bank business for small firms as well.Therefore,the development of private banking business has strategic significance on commercial banks,and it plays a measurement role as a "benchmark" in optimizing customer structure,synthesizing service capabilities,improving core competitiveness,rising industry status,and promoting commercial brands.This article took the actual situation of CCB Jilin Province Branch as a case,it introduced the general situation of Jilin Province Branch,and expounded five aspects of marketing status of CCB Jilin Branch’s private banking business including the "1 +1 + 1 + N" service model,the five-step business model,the customer growth stage hierarchical chain management,exclusive product model and characteristic value-added services.Given above information,this article concluded four kinds of difficulties in developing private banking business from the perspective of marketing management,such as the singularity of private banking products and serious inter-bank homogeneity,decline in customer retention,the slow development speed of network informatization,and the lack of high-level talent construction.In order to find a solution to the problem,this article fully analyzed and discussed the private banking business marketing environment of the ConstructionBank of Jilin Province Branch,and applied the PEST analysis model for analyzing macro environment from four aspects as policy,economy,society,and technology;in terms of micro environment,it analyzed external industry competitors,cooperation channels and platforms,and the internal environment.At the same time,using SWOT analysis to clarify the advantages and disadvantages,opportunities and challenges of CCB’s private banking business.For example,CCB has a service awareness of customer experience,a wide range of clients’ preference base and good team service model,but CCB is also facing disadvantages such as single product,clients losing,and insufficient talent.Nonetheless the gradually increasing number of high-net-worth clients,accomplishment of interest rate marketization reforms,and promoting reliance of high-net-worth individuals have on private banks for investment allowed CCB Jilin Branch to see opportunities for further expansion of private banking business,and threats like restrictions imposed by the operation of the banking branch model,the impact of Internet finance,and continuous market competition with third-party financial institutions.In the process of designing the marketing strategy for the private banking business of the Construction Bank of Jilin Province Branch,further market segmentation was made to clarify the target market and market positioning of the private banking business,and proposed four improvement solutions regarding products,prices,channels,and promotions,which including the implementation of product customization,featured product strategies,promoting enrichment of non-financial product strategies,differentiated pricing and combined pricing,build pricing models to strengthen pricing management;optimizing promotion in both physical and online channels,applying push and pull combined promotions,paying attention to account managers for direct contact with clients to achieve marketing,while not neglecting advertising,publicity and promotion.In order to successfully achieve those marketing strategies above,this article concluded specific marketing strategy implementation in three aspects: strengthening the construction of the private bank’s talent team,improving the level of information technology,and improving the private banking business management system.It is hoped that this article would havesome referential value for the stable development of the private banking business of the Construction Bank of Jilin Province Branch,and it would have referential value in expanding client market for the large-scale commercial bank branches.