ALTERNATIVE FORMS OF MARKETING
COMMUNICATION OF FINANCIAL
SERVICES
Ing. Kateřina Matušínská, Ph.D.
MARKETING OF FINANCIAL SERVICES/NAMAF
NEW APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL SERVICES
OUTLINE OF THE LECTURE
1. Guerrilla marketing
2. Viral marketing
3. Product placement
4. Mobile marketing
5. Social networks
APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL SERVICES
MARKETING COMMUNICATION TODAY
Marketing
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
ALTERNATIVE FORMS OF MC
Guerilla marketing
Viral marketing
Digital marketing
Social media
Mobile marketing
Astroturfing
Content marketing
WoM
Product placement
Sensation marketing
Ambush marketing
Ambient marketing
And others …
Mosquito marketing
Environmental marketing
Experiental marketing
ALTERNATIVE FORMS OF MC IN FS
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
„It is a body of unconventional
ways of pursuing conventional
goals. It is a proven method of
achieving profits with minimum
money.“
(Jay Conrad Levinson, 1984)
1. GUERILLA MARKETING
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
PRINCIPLES OF GUERRILLA MARKETING
• minimum MAXIMUM (small firms)
• unexpected, original, surprising
• shocking, drastic, extravagant, controversial
• humorous with a hint of arrogance
• short-term, inexpensive with good will
• illegal, unethical
• aggressive against competitors and consumers
• the use of new IT
• investment is energy, time and creativity
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
TOOLS OF GUERILLA MARKETING
• Word of Mouth, Viral marketing
• Ambient marketing
• Ambush marketing
• Mosquito marketing
• Astroturfing
• Sensation marketing (publicity free)
• Wild posting, …
…
BUZZMARKETING
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
AMBIENT MARKETING
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
AMBUSH MARKETING
• Ambush marketing is a marketing strategy wherein the
advertisers associate themselves with, and therefore capitalize
on, a particular event without paying any sponsorship fee.
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
AMBUSH MARKETING
WOG, Lillehammer, Norway, 1992. The advertising of
MasterCard in USA during WOG, when the only one official
sponsor in the sphere of credit cards was Visa. The
advertising slogan of MasterCard was: „If you go to Norway,
you don´t need a visa!“
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
ASTROTURFING
• Astroturfing refers to advertising, or public relations
campaigns that are designed to mask the sponsors of the
message to give the appearance of coming from a
disinterested participant.
• Astroturfing is intended to give the statements the credibility
of an independent entity by withholding information about
the source's financial connection.
• The term is a derivation of AstroTurf, a brand of synthetic
carpeting designed to look like natural grass.
• Fake letters, fake blogs, fake discussions on Internet and
social networks, …
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
WILDPOSTING
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
GUERILLA MARKETING IN FINANCIAL SERVICES
Don´t feed bankers! Should we pay for normal things?
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
2. VIRAL MARKETING
Viral marketing and viral
advertising refer to marketing
techniques that use preexisting
social networks to
produce increases in brand
awareness, through selfreplicating
viral processes.
2. VIRAL MARKETING
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
VIRAL MARKETING
• Advantages: low costs, quick spread of information, high
effectivity of targeting.
• Disadvantages: loss of information control which are
spread among people, spam (legislation!)
• Viral marketing may take the form of video clips, interactive
Flash games, advergames, ebooks, images, text messages,
email messages, or web pages, …
• Flashmob!!!
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
VIRAL MARKETING IN FINANCIAL SERVICES
• Students could win € 30 if they correctly answered 30 questions.
• Financial Academy brought mobile version and chat.
• Anyone could participate but students could win if they were at
age of 15 to 25 years, then opened student bank account and
successfully completed a financial academy.
• All students competed for gold iPhone 3x, 50x Samsung Galaxy
S4 mini, sweatshirts like.
• Viral video
TATRA BANK – RYTMUS´S FINANCIAL ACADEMY
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
3. PRODUCT PLACEMENT
Product placement advertisements are
promotional ads placed by marketers using
real commercial products and services in
media, where the presence of a particular
brand is the result of an economic
exchange.
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
PRODUCT PLACEMENT
• Product placement appears in plays, film, television series,
music videos, video games and books.
• PP X hidden advertising (strict legal rules differ in various
countries)!
• One of the best-known instances of product placement
appeared in 1982 movie E.T. the Extra-Terrestrial, which
increased sales of Reese's Pieces 80 percent.
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
PRODUCT PLACEMENT IN FINANCIAL SERVICES
THE FINANCIAL HEAD OF FAMILY, THE BEST PP IN 2014
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
4. MOBILE MARKETING
The use of interactive wireless media
to provide customers with time and
location sensitive, personalized
information that promotes goods,
services and ideas.
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
MOBILE MARKETING
• Mobile marketing (m-marketing) is meant to describe
marketing on or with a mobile device, such as a mobile
phone, smartphone, PDA, MDA and notebook.
• It is the one of the direct marketing methods.
• Mobile
• Anytime
• Globally
• Integrated
• Customized
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
MOBILE MARKETING
• Good targeting.
• Easy and quick up-dating.
• Comfortable for users.
• Low costs.
• Good measurement of response.
• Database creation.
• Commercial SMS and MMS, SMS and MMS
competition, voting, advergaming, location-based
marketing, QR code (Quick Response Code), mobile
coupons and bar code with discounts, proximity
marketing, ...
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
MOBILE MARKETING IN FINANCIAL SERVICES
• Campaign with the aim to present favourable
leasing of company Raiffeisen Leasing was
launched to raise awareness about this
product and subsequent sale.
• The combination of sending SMS and direct e-
mailing.
• The potential clients from Prague aged 30-50
years who were interested in the new Skoda
Octavia were addressed.
• 8,000 targeted SMS with click through to a
microsite with detailed information.
• SMS advertising and direct e-mailing were
sent in two waves. The bonus for customers free
accident insurance was offered to support
their buying decision process.
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
5. SOCIAL NETWORKS
A broad marketing potential of data source
- social networks marketing research!
Blogs, forums, published audio and video
content, publishing photos,...
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES
SOCIAL NETWORKS
Monitoring of social networks looks for answers to:
• How do our customers perceive the brand?
• Do customers love our products?
• What do they think about competing products?
• What can change their preferences?
• And more
ACTUAL APPROACHES IN MARKETING COMMUNICATION OF FINANCIAL
SERVICES