Brand is the weakness of China's banking industry

The Chinese banking industry has entered the era of brand competition, and the brand has become a competitive weapon for bank enterprises to win the enemy. In particular, by December 2006, China’s accession to the WTO has been going on for five years, and the financial industry will be fully open to the outside world. Foreign banks will be Chinese-funded. Banks perform on the same stage. For the Chinese banking industry, real competitors are already eyeing, and the brand battle of the Chinese banking industry will also intensify.

According to the survey, 25% of urban users are willing to choose the services of foreign banks in the future. However, in the face of the strong intervention of foreign banks and the survival status of China's banking industry, it is not difficult to find that Chinese banks are mostly in the state monopoly. There are many “ecological” crises, especially the brand is the soft underbelly of the Chinese banking industry.

1. It is difficult for the state monopoly to achieve a real market brand.

As long as there is competition, there should be a brand, the brand is the product of market competition, if there is a monopoly in an industry, the meaning of the brand is not great. However, at present, several major state-owned banks in China, including Industrial and Commercial Bank and Construction Bank, are in a state monopoly position, lacking the risk of bankruptcy or market exit mechanism. The advantage of monopoly status determines that they can be pampered without having to participate in too fierce market competition. At present, the brand management of China's banking industry mostly stays at the level of logo design and advertising. It has not played a role in brand strategy, and it has not reached the realm of using brand to avoid homogenization competition. So some people say that China's banking industry has no brand. It makes no sense.

2, the core value of the brand is the same, lack of personality

The core value of the brand is the DNA of the brand. It embodies the connotation and individuality of a brand and also reflects the difference with the competitive brand. For example, UBS is known for its “reliable and secure” brand image. This brand image has made it a safe haven for money gathering around the world, and has become a safe for many politicians and businessmen.

However, the core values ​​of the brand of Chinese banks are mostly empty and lacking distinct and unique personalities.

For example, Bank of China - Global Services; (there are a lot of banks in the world, so it gives people a sense of emptiness and lacks personality)

Hua Xia Bank - the same as the Chinese people, a total of Huaxia; (national color is too strong, is not conducive to the development of external business)

China Construction Bank - building a modern life; (Which bank is not building a modern life? Personality is not clear)

Bank of Communications - Innovative financial services to enhance urban life; (similar to the "construction of modern life" of the Construction Bank)

Industrial and Commercial Bank of China - the bank around you, the bank that can be trusted; (the emergence of e-banking, the advantages of its acceptance network is facing challenges)

Guangdong Development Bank - create excellence, pursue transcendence; (two sentences mean repetition, and too many companies with the concept of "creating excellence", lack of personality)

Pudong Development Bank - abide by integrity and create excellence; (similar with Guangdong Development Bank)

Agricultural Bank of China - serving modern urban and rural areas; (not meeting the development needs after restructuring)

......

The core value of the brand with emptyness, similarity and lack of individuality is difficult to be a little red in the green, which is not conducive to the brand's communication memory.

3, brand strategy management is weak

At present, China's banking industry brand strategy management is weak, lacking systematic and operable brand strategy planning. The product advertising promotion launched by many banks lacks the organic combination with the corporate brand, which causes the waste of brand communication resources. For example, the impact of “buying a house and finding a construction bank” is far greater than “China Construction Bank, building a modern life”, which is not conducive to other new business of CCB. The launch. In addition, the Chinese banking industry still has the phenomenon that the image of the head office of the branch is not uniform and the image spokesperson is chaotic, which is not conducive to the establishment and dissemination of the corporate brand image.


4, advertising appeal does not have an insight into the consumer's heart

The advertisement is based on the insight of the consumer's heart, so as to sway the consumer's heart. However, many of the advertising demands of China's banking industry are large and comprehensive, and they are wide-bodied and cannot reach people's hearts and resonate. For example, "holding a certain hand, always a friend", "choosing a certain bank, realizing the ideal of the heart", "holding a certain card, smashing the world", etc., can such a large and empty slogan really resonate? On the contrary, the financial advertisement of Industrial Bank “Don't put all the eggs in one basket” is deeply impressed by the inner needs of wealth management consumers.

5, a single means of brand communication

At present, the propaganda and communication means of brand building in China's banking industry is relatively simple. The main use of TV advertising, street signs and storefronts, the ever-changing Internet is less likely to be applied, and public welfare activities and event marketing are even more difficult to see.

In fact, public welfare activities and event marketing can effectively enhance the affinity and appeal of bank brands, enhance the participation and interactivity of brand communication, and make the brand image flesh and blood, lifelike.

For example, in 2004, China Merchants Bank invited its own sunflower customers to participate in tree planting and forestry activities every year. The forest was also named “100 Years of Silver Forest”, which greatly enhanced the public trust of China Merchants Bank. However, there are too few public welfare activities in China's banking industry like “100-year-old Zhaolin Forest”, which is also a weak link in the banking industry's brand communication.

In addition, many banks' product brand communication methods are also very simple. Without in-depth research, specific channels, methods, and content focused on specific people, blindly shooting without aiming at the enemy's vital parts, resulting in many bullets wasted. .

Of course, the weakness of China's banking brand management is also manifested in many aspects, such as brand association ambiguity, homogenization competition, brand crisis management and so on. If the Chinese banking industry wants to break through the homogenization of the "marketing dilemma" and achieve a high level of leapfrogging, it must use the brand as a weapon.

In the face of the strong intervention of foreign banks, in the face of unprecedented competitive pressure, the Chinese banking industry, are you ready?

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