MARKETING OF

FINANCIAL
SERVICES
Definition of financial services
Types of financial services
◦ Banking Services
◦ Non Banking financial services
◦ Insurance Services
◦ Stock Markets and Mutual Funds
◦ Payment Apps and Digital Payments
Changing trends
Market research findings
What’s important in Marketing of financial services

◦ Target Market: Financial institutions need to identify their target market to develop marketing
strategies that resonate with their audience. Different products and services appeal to
different demographics, such as age, income, profession, and lifestyle.

◦ Branding: Financial institutions must establish a strong brand identity that differentiates them
from their competitors. Branding elements like logos, taglines, and color schemes are crucial
to building trust and credibility with customers.

◦ Omni-Channel Marketing: Financial institutions need to adopt an omni-channel marketing

approach that integrates multiple channels such as digital, mobile, social media, and
traditional channels like print, television, and radio. This helps to reach a wider audience and
cater to customers' preferences.
◦ Product and Service Innovation: Financial institutions need to continually
innovate and update their products and services to remain competitive in the
market. Financial institutions can provide value-added services such as
personalized financial planning, credit monitoring, and loyalty programs to
enhance customer satisfaction.
◦ Customer Engagement: Financial institutions need to engage with their
customers regularly to build a long-term relationship. Customer engagement
can be achieved through personalized communication, social media, and
providing value-added services.
◦ Compliance: Financial institutions must ensure that their marketing strategies
are compliant with relevant regulations and guidelines given by RBI, SEBI,
FEMA etc
◦ marketing of financial services requires a customer-centric approach that
provides value, convenience, and personalization. Financial institutions must
continually innovate and adapt their marketing strategies to remain
competitive and meet customers' evolving needs. They also need to ensure that
their marketing practices comply with relevant regulations and guidelines to
protect customers and maintain trust.
◦ Trust
What is expected of Marketers while marketing Financial Services
Understanding the Financial Services
◦ BANKING SERVICES
NBFS
Insurance Services
Stock Market and Mutual Funds