Banking innovation in Hong Kong save a lot of single page printing and distribution costs
in Hong Kong, "banks than rice shop" argument, this is no exaggeration. 11.6% of Hong Kong's population is engaged in working with the financial institutions, the lives of every Hong Kong people are closely related to the banking, financial. A little credit would be enough to reflect this Association. Credit card acceptable to the people of Hong Kong generally and widely used, occupies an important position in its life, the credit card business will naturally become a battleground. Hong Kong credit card market potential and competitors, for survival and development, the Bank actively marketing strategy innovation, and innovation.
, product strategy and innovation
banks by developing differentiated products for the market segment, occupying a specific segment of the market. For cardholders age, occupation, income, hobbies and so on, can be divided into different market segments, the introduction of cards to win consumers with special services. Introduced a card for the World Cup for fans, for a university teachers and students launch a University credit card, introduced a star card for fans, these innovative products are able to meet the more specific market segments in the consumer's specific needs, so the more acceptable to consumers in this market. With the improvement of people's living standards and individual requirements for goods will continue to increase, therefore, financial product design must also face many common consumer market-oriented instead of distinct personality and the special needs of minorities and even individual consumer market, which is the tendency of financial product innovation.
II, service strategy and innovation
Bank credit cards through the improvement of basic services and increasing credit card additional services to impress customers. Basic services have an overdraft facility, access to credit card facilities and so on. Early in the credit card wars, banks tend to focus on improving the quality of basic services, such as improving the convenience of ATM USW, increasing the range of merchant POS network, improve cost, mandate, loss, card replacement service. But as competition develops to a certain extent, the service strategy is to increase the services of credit card, credit card consumer protection, travel insurance, worldwide medical emergency assistance, priority booking and discounts on many commercial tenants. Credit card services cardholders not only experience convenient and efficient consumption, but also enable the cardholder to obtain credit card brings many benefits and security, reflect the comprehensive care of the Bank to the cardholder. This humane service innovation, attract far more customers, and favored by the market. Strategy Innovation
c, price/> the self-interest of banks reduced credit card such prices to attract customers. Customer for the purchase price of credit card services including issuing fees, credit card fees, transfer fees, overdraft interest on, capital and lost card replacement fee, and so on. In the fierce competition in the market, banks have reduced or even exempted from fees to fight for customers, is the most typical free card, annual fee waiver, free transfers and so on, so that part of their income in the Bank's credit card business constitute a decreasing trend in the proportion of profits. Strategy of lower prices as the most basic credit card marketing strategy. To encourage the long-term behavior of consumers, banks have introduced measures such as low credit card rewards and benefits program in order to obtain long-term and stable interest income. And more importantly, to increase customer spending at merchants, improve merchant fees this part of their income. In this way, businesses Commission's share in the Bank's credit card business earnings will increase, make profit growth of bank credit card operations.
, marketing strategy innovation in order to attract more customers, HSBC credit card also comes with 3 additional services: first, 30 days of consumer protection. By using a credit card or purchase something if damaged, stolen, can be as high as HK $ 3000 in damages. Secondly, global travel insurance. Cardholders enjoy up to HK $ 2 million of personal accident insurance when traveling, including compensation for lost baggage, legal support, guarantee and accident medical benefit. Third, global emergency medical assistance. Cardholders simply calling the hotline will receive medical advice and referral services. Meanwhile, credit card can enjoy car rental and there are also a number of shop discounts, but also through integral plan for Hong Kong shops and restaurants cash voucher. The so-called "integral plan" refers to each debit or cash advance of HK $ 1, corresponding to a certain score, in the time period specified in the Bank, with cumulative score, for free or at a discount in Exchange for gifts, travel and bonuses. In addition, HSBC also targeted to different consumer groups, and various hot spots to take different strategies and different kinds of cards. For example, in order to get the students as a consumer group, HSBC credit card strategy of college students are exempt from the first year annual fee apply for small gifts. In '98 during the World Cup soccer tournament, HSBC took advantage of this global sporting event for fans launched a "World Cup MasterCard". This card is printed on '98 World Cup marks, and to invite Pele to its advertising. In addition, applied for the card, you can enjoy three discount sporting goods shops by the 100 Yuan in cash voucher 3; in 3 special sports card shop, 90 percent discount; for the latest sports consulting. Also enjoy 30 days of consumer protection may participate in a program. Therefore, the card was released, was welcomed by fans.
the Bank of East Asia is HSBC's strongest rival. In Hong Kong, East Asia launched the "global" credit card. Holders of "world" who in the world "Visa nterlink" sign businesses shopping directly, free of any charge, and can be easily transferred to overseas relatives and friends. On the campus of the University of Hong Kong, Bank of East Asia and HSBC have been taken different promotion strategies. BEA launched specifically for students and Faculty of the credit card business in Hong Kong; smart card in Hong Kong and Hong Kong University credit card. HKU smart card (HKU Snart Card) is the most special features: doubles as a university student cards and staff cards. On a smart card, printed with the cardholder's photo, on the campus of the University of Hong Kong and all Visa Casb businesses pay, cardholders do not have to sign, and enter the password, the automated teller machine outside can also be carried out on a variety of actions. Bank of East Asia also price elasticity characteristics of students, at the school during the annual fee imposed on the student card is free and bonus schemes and other incentives. Addition, East also and Hong Kong big cooperation, for holding card students provides number items and in Hong Kong big life, and learning is closely related to of offers: as holds East card, can directly application Sports Center membership, from paid University students will lifelong membership contributions 800 Yuan; can in handle books card Shi save 500 Yuan deposit; application Hong Kong big a computer center of computer network service years fee can was discount offers,. For the University of Hong Kong showed that banks and mutual support, they also declared 0.35% of the University of Hong Kong credit card monthly spending amount transfer Hong Kong "teaching and Research Development Fund", every year after year 50% transferred to the Fund. In this way, Bank of East Asia have set up to support education and public image with the perfect harmony in Hong Kong, won the trust of Hong Kong University Faculty. Diversification of methods of
personal selling credit cards, credit card offers more than just personal visits, but approach customer sales telephone sales and the Internet and other advanced methods. Online sales credit card has the following advantages: (1) break the limit of space and time of marketing and significantly increase marketing penetration radiation and of the issuing bank. (2) save and optimize marketing costs. First of all, by saving manpower salaries and marketing costs administrative expenditures and optimize the structure, contribute to competitiveness of different credit card products. Secondly, the application form for maximum control of waste, saving a lot of brochure printing and distribution costs. Finally, the Guide applies the "online statements", but reduced the Bill printing and mailing costs. (3) through the online standard service image and publicity, and can solve the long-standing professional direct marketing promotion of false propaganda and false promises and so on, improving customer satisfaction, helped promote brands. (4) compared with offline direct marketing promotion, apply for credit card online customer information filled out standard best, to ensure maximum integrity of the information provided by the applicant, more conducive to efficiency and judgment of the credit operations in the background. Meanwhile, the personal information provided by customers bid for credit card privacy and misappropriation cases will be effectively controlled and resolved. (5) online marketing can effectively reduce the direct sales business in the "promoter of counterfeit" cases, and maximize IT technical superiority, for card-issuing banks more comprehensive, more timely detection and found that promotion of risk cases, master "black agency" risks such as application tools to provide substantive help. Based on the Internet's sophisticated marketing and interactive marketing, to be more accurate in finding credit card customers, communicating with interactive, customers into every word of every node in the network, which spread market and brand value is enormous. Of course, network marketing is a double-edged sword, any omissions, any inappropriate feedback may turn into a crisis, only on every aspect of intensive cultivation, to seize the market opportunities, strategize.
credit card is a fast cycle loan of financial products, it not like sold beverage or candy as, marketing out on must will brings returns, promoted consumers open card apparently is important, but how stimulus its using credit card, is real for Bank brings value of key where, credit card market race is marathon not hundred meters Sprint, reference Hong Kong banking in credit card of marketing strategy innovation Shang of success experience is more reality and has active meaning.
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