Retail Banking

Only available on StudyMode
  • Download(s) : 236
  • Published : December 20, 2012
Open Document
Text Preview
Highlight the benefits that you can give
To achieve this, you first have to do some research about the services that your competitors can offer. After this, you should then identify your USP, or unique selling point, which is the feature that you, and no one else, have. Once you have identified this, you can now inform your target market about the advantages that you have over your rivals. Doing so will make it easier for your clients to choose to transact with your firm instead with others. Develop a referral network

You can do this in two ways. First, you can inform your first few customers that they will be rewarded when they can recommend you to their families and friends. Many people rely on word of mouth when it comes to looking for loans and, thus, when you build this system, you can attract more clients. Another strategy that you can use is to engage with other businesses which can benefit from your ability to provide money. Examples of these are real estate companies, car merchants, and financial advisers. These firms can refer you to their own customers who need funds. In this way, you can have an effective yet low-cost way of advertising. Work on weekends

This may sound unfair, but you have to understand that Saturdays and Sundays are when most people do not have to report to their jobs. Thus, it is during these times when they can visit your office and take a look at your financial programmes. Of course, during these days, these potential clients are relaxed and receptive to new ideas, which means that you can easily offer your services to them. Create a website and social network accounts

Having an online presence can make you easily accessible to individuals who are always connected to the Internet. Of course, because of the wide coverage of the Web, you can interact with more people and, thus, gain more customers. All in all, these advertising strategies can help you in promoting your business. They can help you reach out to your target market...
tracking img