BusinessNewsDay – The bank’s business strategy is one of the keys to the success of a bank to be able to continue to participate in global competition which continues to heat up and makes banks have to move dynamically to adapt to the increasingly fierce competition movement.
Customers are also now becoming more critical and not like they used to be, who only want to save without checking the bank’s policies to which they become customers or customers. Therefore, here will be discussed about a good marketing strategy so that a bank can compete well in the midst of global competition between local and international banks.
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Indeed, in relation to competition, the services used by banks to collaborate with customers are still the main key to success. Therefore, every bank that wants to continue to compete smoothly, still maintain the friendliness of the service and the accuracy of the service, especially in online services, will also improve the data security system of customers so that they cannot be hacked by irresponsible people.
1. Customize Yourself with Customers or Customers
Customizing what is meant here is how customers or customers will really be considered as co-workers by the bank and indeed treated like that and not treated as inferior by the bank so that customers also feel themselves important by taking part and taking a role in determining the direction of work and suggestions, criticism, and even policy proposals that the bank would take.
Not in the sense that the bank will then be determined absolutely by the customer, but it will be a form of appreciation to the customer where the customer will feel more ownership of the bank because they themselves take part in determining the course of transactions in the bank.
2. The Importance of Business Strategy
Then why is the bank’s business strategy so important? If this business strategy fails, it will make a bank lose the opportunity to develop its business and expand its wings, lose the opportunity to invest to achieve even greater profits, lose the trust of customers, and sometimes even hamper banking activities in the long term.
Therefore, a business strategy must be prepared and planned properly so that it can cover the existing deficiencies with the right business strategy and good in implementation.
To assess whether or not a strategy is good, of course, several things are needed that become benchmarks or comparisons. Whereas in theory, there are many ways that are used to be able to assess whether a strategy is good or not. One that is widely used and is well known to be effective is Rumelt’s theory which introduces consonants, advantages, feasibility, and consistency.
The first theory, namely consonants, is the ability to be able to see business opportunities now and in the future, predicting roughly what problems will occur in the future. For example, a bank that offers health and education insurance for the whole family with a cheap installment pattern.
This of course does not only reach the upper class to take advantage of or use insurance, but can also reach and expand market share among the middle class. In addition, as education advances, people will become more and more aware of the importance of insurance so that in the future, insurance will become a much sought-after thing.
The second theory is profit. In the second theory, this will utilize the ability of banking management as much as possible to minimize the company’s weaknesses or losses and maximize profits.
One example is by providing the widest possible amount of credit to microcredit participants considering that most of the Indonesian people are people with lower middle-income groups. Therefore, this microcredit will be very important and can also be used to get more customers.
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The third theory, feasibility is the bank’s ability to change well and focus on one thing that is the highlight of the bank. While the fourth is consistency, which is how the bank’s business strategy can be implemented properly.