Research On Marketing Strategy Of Private Banking Business Of W Branch Of Z Bank

Since the reform and opening up 40 years ago,with the rapid development of the domestic economy,all walks of life have flourished with the help of various policy dividends,and the corresponding number and wealth scale of high net worth customers have also continued to rise,especially in recent years under the guidance of the general direction of "no speculation in housing" and under the background of diversified changes in the capital market.Domestic high net worth customers have a surging demand for asset diversification,which means that the asset institutions of residents may change in the future,with individual holding real estate assets and deposits declining,the proportion of financial assets rising,and the proportion of financial investment products increasing.Meanwhile,the new regulations on asset management,which came into effect in 2018,also provide huge space for the development of private banking business.Therefore,the construction of a new retail private banking business model has become the consensus of domestic banks,among which private banking business has become a "battleground" for all banks because of its particularity.In terms of domestic private bank development,our private bank business started relatively late compared with foreign countries,which has disadvantages such as unreasonable organization structure,single product structure and lack of professional talents.However,our rapidly accumulated "new rich" class has great potential demand for private bank business,which has also laid a good foundation for the private bank of the domestic commercial bank.Influenced by relevant development trends and intensifying market competition,domestic Z Bank W Branch gradually pays more attention to the marketing strategy of how to enhance the brand influence of local private banks and seize a larger market share,and invests a lot of people and money in the daily business development process.This paper makes a comparative analysis of the development status and existing problems of W Branch of Z Bank by using marketing correlation analysis method and STP market segmentation and other relevant theoretical knowledge,and conducts a questionnaire survey on the stock of quasi-private bank customers and private bank customers of W Branch.At the same time,with the theoretical support of STP market segmentation,the existing and potential target customer groups of private banks in region W are classified.According to different factors such as occupation,industry and source of wealth,the local listed companies’executives,private business owners,the second generation of rich and the second generation of new generation,and high-quality white-collar workers are divided into four groups.At the same time,combined with the theoretical knowledge of 7Ps marketing strategy,Appropriate marketing strategies for the steady and sustainable development of W Branch of Z Bank have been formulated,including:We should introduce more cash products into the diversified investment choices,build an open fixed income product platform,raise the entry threshold of equity assets,increase the investment varieties of alternative products,improve the subcategory of security products,optimize the signing process of family trust,and increase the setting of discretionary products.Pricing strategy to develop a variety of commission promotion policies,account management fee standards and policies,net interest margin policy preferential measures;Brand promotion involves value-added service promotion,activity promotion,channel marketing;In terms of channel construction,we should strengthen the linkage between public and private,create integrated marketing channels,break through the internal circulation of the group to achieve the flywheel effect,create channels for high-end talents to gain customers,strengthen cooperation with top non-banking financial institutions,and carry out the transformation of digital private banks’ customer acquisition channels by relying on mobile banking apps;The personnel strategy includes continuously strengthening the service level and comprehensive ability of business personnel,establishing the internal active and effective management system,and the positive cycle of talent development;In the tangible display strategy,create a special super "green path" for private banks,carry out brand display with the help of head office activities,and create differentiated image display;Service process strategy in accordance with professional working methods and unified investment view,quality value-added service system.In order to effectively ensure the implementation of marketing mix,the author finally puts forward five measures including organizational guarantee,personnel guarantee,risk compliance guarantee,exclusive marketing cost guarantee and information technology guarantee.