Essay Example on Young People: Easy Banking Through E-Commerce & Digital Marketing

Introduction

For young persons who desire easy, convenient, and accessible banking services, the bank provides a wide range of e-commerce services, which are user-friendly and easily accessible. The bank differentiates itself from others through its commitment to enhancing customer satisfaction through improved accessibility, customer service, and online security.

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Advertising and Public Relations Strategies

Advertising strategies

Digital marketing strategy

Marketing over the Internet has gained momentum lately due to its ability to reach many people. The internet provides an organization with a variety of tools that they can utilize to create and develop brand awareness in a specific target market (Tiago & Verissimo, 2014). The strategy can be achieved through search engine optimization (SEO), email marketing, mobile advertising, search engine marketing, and use of banner ads on various websites.

Media strategy

The bank can also utilize social media platforms to create awareness of its new e-commerce services. In this case, the bank can collaborate with specific platforms, which will reveal its adverts to the specified target audience (Tiago & Verissimo, 2014). Additionally, mainstream advertising can be used given its wide coverage.

Evocation strategy

The bank can utilize this approach to draw emotions and humor concerning its products. For instance, it can utilize words such as "dear "in its ads to create an emotional connection with the target market (De Mooij & Hofstede, 2010). Additionally, humor is great attract audiences to read an ad. Young people are interested in intriguing content and are likely to avoid boring ads; therefore, the bank can use funny clips or videos while advertising its products (De Mooij & Hofstede, 2010).

Public Relations Strategies

Given the increased competition from big banks, concerning digitization of bank services and development of vibrant e-commerce facilities, the firm should not only aim at creating its brand awareness but also enhance its public reputation to create a buzz around its products and services (De Vries, Gensler, & Leeflang, 2012). Notably, it can utilize multiple strategies that will improve its reputation in the target market. Firstly, the company should utilize native advertising approach, where it creates informative content concerning its audience, rather than just creating promotional messages. In this case, a firm provides an informative and logical story, which provides value to the audience and creates a bridge of trust between the market and the bank (Ferguson, 2018). Native ads are concerned with informing the readers how they can solve urgent issues affecting them and the articles should be non-promotional. In fact, the bank's logo should be the only item tying the content to the firm (Ferguson, 2018). For example, the bank can develop a well-written article concerning how internet security influences online banking and ways that persons can avoid fraud or be conned. The blog will enhance the bank's reputation.

Secondly, the bank can tap on the power of influencers during its campaigns. The firm can utilize popular celebrities to market its products in the target market. The influencers should be able to attract a buzz around the firm's e-commerce services due to their large fan base (Ferguson, 2018). Influencers who are more popular among young people, such as artists and athletes can be used in commercials. Notably, influencers are a powerful tool in the PER landscape today since they endorse the brand.

Thirdly, the bank can humanize its brand to avoid backlashes over the internet. In this case, the firm develops and shares its core values with the public via its website, which gives it a personalized characteristic (De Vries et al., 2012). The values shared must represent the company's ideologies and aid the target audiences to relate with the brand. Notably, core values should be authentic and logical since customers can sniff fake information easily. The bank's employees and representatives should also emulate the core values. Therefore, if one customer attacks the brand through social media, the bank will be safe since it will have developed a credible and trustworthy reputation, which will calm the storm (De Vries et al., 2012).

Digital or Traditional Marketing Channels

Social media channels such as Facebook, Twitter, and Instagram are good avenues to communicate the brand message to target consumers. Facebook has a wide coverage connecting people all age groups, especially the youth, who utilize its to share their memorable moments with friends (De Vries et al., 2012). The bank can run ads over Facebook, which provide an opportunity for the information to reach wide coverage over short period. Notably, the bank can encourage users to tag their friends or share advertisements with their friends. Instagram has gained popularity in product endorsements and marketing in recent years. Most youths spend their time on Instagram, where they follow their public icons to get a glimpse of their life experiences. Therefore, the bank can utilize this opportunity by seeking influencers who have large followership to endorse its services through the platform.

Recently, YouTube has become an extensive platform where companies highlight their prowess to enhance market competitiveness. In this case, the marketing department can create short videos explaining to the audience how various new services work and satisfy their needs. You Tube runs the adverts between or before playing videos searched by its users. The situation provides You Tube users with an opportunity to visit the bank's website to learn more details concerning the advertised feature.

Moreover, advertising through the company's portfolio is a perfect idea to inform the clients of new e-commerce features associated with the bank. Today, most customers tend to visit company-owned websites before seeking services from the entity (Ferguson, 2018). Therefore, the bank will utilize its website to highlight its new services to the target market to increase its brand awareness.

Appropriateness of the selected Advertising and Public Relations Strategies

The selected advertising and public relations strategies are appropriate in creating a buzz around the bank's brand, especially among the target audience. Digital marketing and social media strategies are necessary since the Internet is widely used and has multiple avenues to reach out to the audiences (Tiago & Verissimo, 2014). Unlike traditional advertising, young people source most of the information and news via the internet as opposed to conventional media such as newspapers (De Vries et al., 2012). Additionally, advertising about e-commerce services over the internet creates an opportunity for the firm to issue links, which the audience can use to access the services. Digital marketing supports the position statement since it aids the company to communicate to young people through the internet

The use of public influencers, especially those who are popular with young people, can endorse the brand to the target market. Most of the influencers have a large following on Facebook and Instagram mostly composed of the youth; therefore, if they endorse a product or service most of their fans are likely to use try them out (Tiago & Verissimo, 2014). On the other hand, clients, especially the youth, are fussy; therefore, they are likely to avoid advertisement materials that appear to be promotional. As a result, the idea of the content market creates an opportunity for the bank to advertise its products in a manner that gains the attention of its target audiences.

References

De Mooij, M., & Hofstede, G. (2010). The Hofstede model: Applications to global branding and advertising strategy and research. International Journal of Advertising, 29(1), 85-110. https://doi.org/10.2501/S026504870920104X

De Vries, L., Gensler, S., & Leeflang, P. S. (2012). Popularity of brand posts on brand fan pages: An investigation of the effects of social media marketing. Journal of Interactive Marketing, 26(2), 83-91. https://doi.org/10.1016/j.intmar.2012.01.003

Ferguson, M. A. (2018). Building theory in public relations: Interorganizational relationships as a public relations paradigm. Journal of Public Relations Research, 30(4), 164-178. https://doi.org/10.1080/1062726X.2018.1514810

Tiago, M. T. P. M. B., & Verissimo, J. M. C. (2014). Digital marketing and social media: Why bother?. Business Horizons, 57(6), 703-708. https://doi.org/10.1016/j.bushor.2014.07.002