Tiêu đề LG-DBAC INSB 2024 M7.pdf ✅

Nitte Education International Post Graduate Diploma (Banking & Finance) Digital Banking & Alternate Channels Module 7
P a g e | 1 Post Graduate Diploma (Banking & Finance) Introduction This module on Digital Banking & Alternate Channels carries three credits and has eight units. It is very important for the present-day banker to be aware of technological advancements in the banking industry and be comfortable with the use of digital banking. This module deals extensively with Digital banking and Alternate Channels. The module has been designed keeping in mind learner requirements and from the learners’ perspective. This reading material is part of the courseware provided by Nitte Education International Private Limited (hereinafter referred to as “NEIPL”) to students of the PGD(B&F) course. The proprietary rights to the material rest with “NEIPL”. No part of the reading material may be reproduced, photocopied or transmitted in any form without prior written permission of “NEIPL”. All efforts have been made to ensure the correctness of information in the reading material and to provide the latest information. However, there are bound to be changes in the industry, and NEIPL reserves the right to change and update information from time to time. NEIPL is not liable for any loss or damage arising from the use of the information provided. Reference: NEI/PGD(B&F)/2024/DBAC/INSB2.1V1
P a g e | 2 Post Graduate Diploma (Banking & Finance) Module 7 This module deals with: Marketing of Digital Banking Products • Product Planning, Sales delivery to customers, concept of e-lounges, use of social media platforms. • Overview of the use of analytics and AI for marketing and business growth. Introduction The present era of banking has seen a marked focus on digital banking products and channels of delivery. These products are a result of breakthrough technologies that have evolved over the last 5-10 years. The traditional banking services and products have either undergone a change or have been replaced with technology driven products. Therefore, the whole process of marketing of these products has undergone a sea change. The digital banking products have unique features and work in specific ways due to which their marketing becomes distinctive. It is important to understand the uniqueness of digital products so that the product planning process and their life cycles can be understood. This will help in planning of marketing of such products better. In an attempt to use the potential of digital banking products better banks have started offering special facilities which are synchronised with the application of digital banking products. This has added a different dimension to marketing. The details of the product life cycle, product planning process, the importance of latest technologies and some differentiated products has been discussed below. Digital Marketing Digital marketing (also known as data-driven marketing) is an umbrella term for the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium. Digital marketing is often referred to as 'online marketing', 'internet marketing' or 'web marketing'. Digital marketing's development since the 1990s and 2000s has changed the way brands and businesses utilize technology for marketing. As digital platforms are increasingly incorporated into marketing plans and everyday life, and as people use digital devices instead of visiting physical shops, digital marketing campaigns are becoming more prevalent and efficient. Digital marketing techniques such as search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing and e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, display advertising, e–books, and optical disks and games are becoming more common in the Bank’s advancing technology. In fact, digital
P a g e | 3 Post Graduate Diploma (Banking & Finance) marketing now extends to non-Internet channels that provide digital media, such as mobile phones (SMS and MMS), callback, and on-hold mobile ring tones. Digital marketing is facilitated by multiple channels- 1. Affiliate marketing - Affiliate marketing is perceived to not be considered a safe, reliable and easy means of marketing through online platform. This is due to a lack of reliability in terms of affiliates that can produce the demanded number of new customers. As a result of this risk and bad affiliates it leaves the brand prone to exploitation in terms of claiming commission that isn’t honestly acquired. Despite this, affiliate marketing allows the brand to market towards smaller publishers, and websites with smaller traffic. 2. Display advertising - Online Display Advertisement deals with showcasing promotional messages or ideas to the consumer on the internet. This includes a wide range of advertisements like advertising blogs, networks, interstitial ads, contextual data, ads on the search engines, classified or dynamic advertisement etc. The method can target specific audience tuning in from different types of locals to view a particular advertisement, the variations can be found as the most productive element of this method. 3. Email marketing - Email marketing in comparison to other forms of digital marketing is considered not expensive; it is also a way to rapidly communicate a message such as their value proposition to existing or potential customers. In terms of visual appeal, there are indications that using graphics/visuals that are relevant to the message which is attempting to be sent, yet less visual graphics to be applied with initial emails are more effective in-turn creating a relatively personal feel to the email. In terms of language, the style is the main factor in determining how captivating the email is. 4. Social media marketing - The term 'Digital Marketing' has a number of marketing facets as it supports different channels used in and among these, comes the social media. When we use social media channels (Facebook, Twitter, Pinterest, Instagram, Google+, etc.) to market a product or service, the strategy is called Social Media Marketing. It is a procedure wherein strategies are made and executed to draw in traffic for a website or to gain attention of buyers over the web using different social media platforms. 5. Game advertising - Game advertising is defined as "inclusion of products or brands within a digital game." The game allows brands or products to place ads within their game, either in a subtle manner or in the form of an advertisement banner. There are many factors that exist in whether brands are successful in their advertising of their brand/ product, these being: Type of game, technical platform, 3-D and 4-D technology, game genre, congruity of brand and game, prominence of advertising within the game. Individual factors consist of attitudes towards placement advertisements, game involvement, product involvement, flow or entertainment. The attitude towards the advertising also takes into account not only the message shown but also the attitude towards the game. Dependent of how enjoyable the game is will determine how the brand is perceived, meaning if the game isn’t very enjoyable the consumer may subconsciously have a negative attitude towards the brand/ product being advertised.