Service orientation in banking marketing efforts of bankers is necessary for wining over new client. The best form of publicity of a bank is customers’ satisfaction. All banks have same interest rates and basically similar schemes but some of them can attract more customers than other because of superior quality of service. Some important elements of services are up keeping of the premises and utmost cleanliness, availability of physical facilities for services, trained and motivated staff, speed and efficiency, knowing the customers and welcoming by name and with a smile, improvement in systems and procedure to cut down delays, quick decision-making, punctuality and discipline, etc.
Implementing marketing strategy
For Implementing marketing strategy for deposit mobilization purpose considerable work will be involved at all levels. At the branch level, extensive market survey and analysis of data will have to be undertaken. The final marketing plan would emerge after a series of discussions and negotiations between the manager and his controller. This plan throws light on number of personal calls in a month’s publicity campaign schemes to be launched in target markets.
What is necessary for a bank is to develop and train a band of devoted staff having zeal and zest to work hard to achieve the results, skill of salesmanship has to be developed. A successful salesman is one who creates demand by drawing attention, creating interest, arousing desire and securing action. This requires communicative ability, emotional stability, technical knowledge, enthusiasm, dynamism coupled with prudent attitude, etc. the manager should develop a personal rapport with and concern for the customers and motivate the staff to do the same.
In sum, commercial banks in India have no alternative but to adopt marketing techniques in their deposit mobilizing operations and imbibe/inculcate marketing as an organizational culture if they have to survive and grow in future.