Commercial banks are increasingly worried about competition from fintechs, including online technology companies that expand the range of financial and pre-financial services. Commercial banks are more and more actively using IT technologies of online banking, building Business Intelligence data processing platforms, extending Big Data database systems, developing integrated risk management systems and conducting advertising campaigns on social media websites. In view of the above, large commercial banks have the opportunity to conduct a sentiment analysis on data collected in Big Data database systems for the purpose of analyzing the expectations and opinions of Internet users regarding, for example, financial services. Information obtained from the Internet and processed in the aforementioned manner can be used for more precise risk analysis, credit risk management, planning subsequent advertising campaigns, modifying the financial services offer in line with changing expectations of Internet users, searching for clients on social media portals. In this way, interdisciplinary analytical processes are also developed at commercial banks, for which the information from the websites of social media portals is the source of data.
Do commercial banks have a chance to win in this matter in competition with the fintech technology companies operating on the Internet?
Besides, What is the effectiveness of online advertising campaigns run by commercial banks?
Please, answer, comments.
I invite you to the discussion.
My view, I concur, promotional activities work better on consumers v. commercial clients.
Dear Dariusz
Marketing is not my forte, finance and banks are, nevertheless here is some research that addresses your question:
Article Consumer expectations of online information provided by bank websites
https://www.cambridge.org/core/journals/journal-of-advertising-research/article/ten-years-of-learning-on-how-online-advertising-builds-brands/60B4AF6A7A5F4977481B6CB0F7FF334C
Article Marketing online banking to the indifferent consumer: A long...
Article Can banks improve customer relationships with high quality o...
I think online marketing compaigns are most effective in this era of IT. Moreover, because of Fintech, the leveraging impact may be there.
Hello Dear Everyone, Dear Colleagues and Friends from RG, Thank you very much for participating in the discussion and for answering the question: What is the effectiveness of online advertising campaigns run by commercial banks?
Very interesting considerations. A very inspiring and interesting answer. Thank you very much for your response. Thank you very much for participating in this discussion and for a substantive, constructive reply. A very good answer on this topic. This discussion shows the growing importance of the issue online advertising campaigns of commercial banks. I am glad that the discussion is taking place and developing on this topic.
Thank you very much and best regards, Have a nice day
Dariusz Prokopowicz
Dear Anjay kumar Mishra, Yes, I agree with you that online advertising campaigns have been a more effective marketing instrument for retailers and non-banking customers for several years. On the other hand, more and more commercial banks also advertise on social media portals.
Greetings,
Dariusz Prokopowicz
Dear John Wilkerson,
Thank you for your response.
Thank you very much. All the best!
Best wishes,
Dariusz Prokopowicz
Dear Raymond A K Cox,
Thank you for the information provided and the link to interesting data in the above-mentioned issues. Thank you very much for participating in the discussion. Greetings,
Dariusz Prokopowicz
Dear Sanjeev Bansal,
Yes, I agree with your opinion on this topic that marketing campaigns carried out on the Internet, including on social media portals, are the most effective. Indeed, it is related to the development of ICT and Industry 4.0 information technologies and the implementation of these technologies to improve marketing instruments. Yes, due to the growth of fintech technology companies operating on the Internet, there may be a leverage effect. Fintech technology companies are increasingly using innovative marketing solutions on the Internet and can increasingly compete with financial institutions. Best wishes,
Dariusz Prokopowicz
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