Analysis of marketing communication policy in banking institutions of Ukraine

Abstract

Marketing communications are an integral element of ensuring the bank's competitive position in the financial services market. In modern conditions it is not enough for financial institutions to develop a qualitatively new product, set an optimal price for it and choose effective distribution channels. Any financial institution must successfully operate the communication tools. Thus, the majority of the institution's communication costs are investments in the creation of intangible marketing assets: trademarks, relationships with consumers and other participants in the value chain. The implementation of the adopted communication strategy contributes to the development of organizational knowledge and a deeper understanding of the market, which allows the institution to increase the efficiency of the main business processes. For their part, these processes contribute to increasing the institution's potential to increase its shareholder value. In order to study the communication policy of Ukrainian banks, it was made a ranking of these institutions according to key financial and organizational indicators. Taking into account the analysis, the TOP-5 banks were selected for further research, which consists of an analysis of media activity of these commercial banks, website traffic indicators and their activity in social networks. Overall the following indicators were explored: number of messages about the banks on Facebook, in the printed and electronic media, on the websites of state authorities, on television and radio; the place of the bank's website by attendance, the average number of visits during one month, the average length of stay on the site, the average number of viewed pages and the bounce rate. As a conclusion it was emphasized on the need in further research of this topic in the field of anti-crisis communication management and there were outlined the directions of bank marketing in the period of an unstable economic situation. These directions will help to avoid a decline in sales in the difficult economic situation that is currently taking place in the Ukrainian financial market.