Promoting Banking Products in the Context of the Digital Economy

Abstract

Following the model of European Banks, the Romanian banks adopted new marketing and promoting strategies for their products and services. If by the year 2000 the banks were concerned with creating a solid image and gaining reliability in a still unknown field, in recent years the Romanian banking market has boosted, supporting a continuous innovation of banking products. If so far marketing strategies have contributed to the development of the banking domain, at present and after the financial crisis, banks that will come out triumphant will be those that have adopted strategies aiming at building a strong brand and proximity to customers. Presently, addressability refers not only to individual financial interests of the customer, but also to its social and moral interests, aiming at a more profound dimension that allows the bank to customize a different relationship with the client. To promote banking products and services, banks can use advertising (exterior or direct), promotional and personal selling, public relations, sponsorship etc., as a means of communication. The evolution of banking products has required a new approach to marketing and promoting strategies. This marks the beginning of a new era in the banking world, the era of digital banking.