“Technology is one of the factors that affects consumer habits and behaviour, and technology companies are innovating faster than ever before. Connecting with the millennials and taking into consideration the current demographic situation of our country, digital is absolutely critical for us,” says Rakesh Sharma, Deputy General Manager, Head – Marketing & Branding, Bank of Baroda.
Bank of Baroda is aiming to identify customers and competitions, in order to strategise about their presence with digital. Performing keyword research SEO ( Search Engine Optimisation) and SEM (Search Engine Marketing) and optimum utilisation of social media channels. Sharma is focused on introducing mobile marketing initiatives and developing more customer-centric and user-friendly applications.
Bank of Baroda has recently rolled out a new TVC campaign titled ‘Khushiyon Ka Remote Control’, along with a range of digital products like Debit Cards, Baroda M Connect Plus, Baroda Connect and Baroda FASTag. Sharma says, “The campaign is running across all retail outlets, aiming to reach every customer to onboard a digital platform.”
They have implemented a CRM (Customer Relationship Management) module for their internal operations and grievance redressal, and have integrated their website with Google Analytics, Search Console and Data Studio, tro derive meaningful insights into the online activity of the customer. Going forward, the bank is leveraging the CRM tool to track and resolve customer queries in social media on real-time basis.
The bank has robust technology processes, with minimum human intervention within the business processes. It is building the skill sets to complement emerging technologies.
Utilising user-generated content
“We are analysing user queries and responses, put forward through various social media channels, to understand and predict the trend of customer behaviour. This is used to add or modify the existing features and develop new features for our products and services,” mentions Sharma.
The bank is also using the most frequently searched keywords to develop or revise the content of various products and services on the website. Before running any campaign, the bank analyses the demography, interest, behaviour of the target customers from Google Analytics data.
He further highlights, “We are measuring the effectiveness of different sources or channels for past campaigns and combining the insights to devise the marketing strategy for all new campaigns.”
Artificial intelligence for masses
“Everyone speaks about artificial intelligence and how it will disrupt the future of business. But for now, no one knows how and when it will come into effect. The technology is taking shape with chat-bots being the most widely implemented form of AI currently,” Sharma concludes.