Research On Marketing Strategy Of Microcredit Business Of Branch A Of XC Bank

In recent years,with the rapid development of China’s economy and the acceleration of interest rate liberalization,financial competition is fierce.XC Bank A Branch is an important local financial institution,but its share in the microfinance market has decreased year by year,and its profits have also been affected.In order to improve the competitiveness of enterprises,XC Bank A Branch should explore and innovate to improve the level of microfinance marketing.Following the idea of "discovering,analyzing,and solving problems",through questionnaire analysis,it was found that Branch A of XC Bank not only does not have an advantage in business scale,but also lacks competitiveness in product innovation and product differentiation,and its microfinance business is far inferior to other banks.In addition,due to the impact of the epidemic in recent years,bank interest rates have continued to decline and operating costs have continued to increase,affecting the development of banks.The customer satisfaction survey indicates that there are many problems in its microfinance business marketing:unreasonable pricing methods,lack of new channels for corporate credit business marketing,and lack of innovation in promotional methods.The reasons are mainly manifested in the following four aspects: First,the management does not pay enough attention to microfinance business.Although XC Bank A Branch’s microfinance business has long been learning from other commercial banks and has designed corresponding products for marketing,due to the management’s insufficient attention to microfinance business,the development of microfinance business has not been promoted to the strategic development level of Branch A.Secondly,the management system is relatively rigid.Due to the need for detailed segmentation of microcredit customers,banks must be required to be more flexible in handling such microcredit businesses.However,the current management system of Branch A is relatively rigid,which makes it difficult to meet the various requirements of current microcredit,and it is also impossible to quickly establish background surveys of target customers,which cannot effectively reduce credit risk.Third,there is a lack of internal marketing incentive mechanisms.The development of microcredit business requires not only in-depth investigation by microcredit product designers,but also full comparison and analysis of microcredit products from other banks,in order to finally design competitive products that can meet the needs of small and micro customers.Fourth,the marketing level of employees is not high.The training department set up has played a very small role,with no professional training teachers,no differentiated and specialized training for various positions,a small number of old employees,thin content,no innovative training content and training forms,and a lack of professional talent.Based on the existing problems and reasons in marketing of Branch A of XC Bank,Branch A can optimize its marketing strategies based on STP and 4P theories.In terms of STP,the market is segmented according to the type of customer employment,the location of the customer’s work,whether the customer has business with the Bank,and the customer’s age.Develop key customer resources in the target market,improve stickiness for neutral users,and develop small users.Accurately position the market,create its own characteristics,establish its own brand image,and attract customer groups.In terms of 4P,first,carry out product innovation and create high-quality brands in product strategy.Secondly,in terms of pricing strategy,consider business costs and customer value to conduct reasonable pricing,and achieve a win-win situation between banks and customers.Thirdly,optimize network construction and develop electronic channels in terms of channel strategies.Fourth,in terms of promotion,diversify the advertising media,conduct personnel marketing,and correctly use public relations marketing methods.In the face of a highly competitive financial market environment,XC Bank A needs to maintain its competitiveness,further achieve leapfrog development,stabilize market share,increase market share,and enhance efficiency.Therefore,it is necessary to continuously improve and do a good job in corresponding marketing work.