Workshop on Selling & Marketing of Financial Services

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Why Attend

With competition increasing every day and the mounting pressures that characterize tough economic times, you need proven marketing techniques to generate demand for your products and services.

Banks, Insurance companies, Investment houses, and many other financial services offer similar products and services mostly. What distinguishes one from another therefore will be the quality and uniqueness of services rendered, plus the marketing strategies deployed. This program is packaged to deepen the participants’ knowledge of service delivery and also enhance their marketing skills which will position them for innovative and excellent service delivery.

Event Date: 01/02/2024 – 03/02/2024

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Overview
Course Outline

Course Methodology

In addition to the classical concepts the course offers, the course employs a wide array of case studies, templates, and Excel sheets to help participants acquire the right marketing competencies and apply them in a seamless and professional manner.

Course Objectives

By the end of the course, participants will be able to:

Define the marketing framework of a financial organization.
Conduct marketing audits and analysis to better examine the micro and macro environments.
Combine best practices, tools and models to implement an effective marketing and sales management system.
Develop strategies, initiatives and programs to build and sustain a competitive market advantage.
Apply planning and the execution of advanced marketing strategies to enhance organizational results.
Appreciate how to make financial services and products unique and do their marketing in a special way
Acquire detailed knowledge of marketing concepts, techniques, skills and tools needed as operators in the financial service industry

Target Audience

The training course will be of interest to a wide range of marketing, PR, communications, sales and operations professionals. It is of special value to marketing managers in firms, businesses, organizations and institutions of all sizes and in all sectors.

Target Competencies

Marketing planning of financial services
Marketing audits in financial sectors
Macro and microenvironments analysis
Marketing communications
Marketing research
Marketing & selling of financial services

DAY ONE

Overview of Marketing and Financial Services.

Marketing concepts and definition: marketing vs. sales
Marketing of services and marketing of physical goods
Characteristics of financial services
Need for marketing in the financial services industry
Variables in the financial services environment
Constraints on the effective marketing of financial services
Conditions for effective marketing of financial services.

Financial Services Marketing Strategies

Rationale for marketing strategies
Formulating marketing strategies
Element of creative marketing strategies
Strategic options in financial service
Types of marketing strategies

Marketing Planning

Marketing planning horizon (Short-term, Medium-term & Long-term) • Objectives of marketing plan
Process of developing marking plan
Benefits of marketing plan
Element of marketing plan
Conditions for successful implementation of marketing plan
Success factors in the marketing plan
Reasons why marketing plans go wrong

DAY TWO

Marketing Research in Financial Services

Objectives, Scope, Types (market-oriented analysis and consumer-oriented analysis) and uses of marketing research
Procedures/processes of marketing research
The role of research of marketing of financial services
Sources of marketing research information
Characteristics of a good marketing researching
Benefits of marketing research

Understanding Consumer Behaviour

Internal influences on consumer behavior, attitudes, motivation, personality and self-concept, learning and perception
External influences on consumer behavior, groups social-cultural factors • Consumer buying process/bank selection process and criteria and its marketing implication in the banking industry
Marketing implications of consumer behavior in the banking/financial service industry

Promotional Mix

Objectives of promotion
Communication mix
Determinants of promotion
Advertising: Definition, media type, basis for selection of media for effectiveness • Personal selling concepts: Merits and Demerits
Professional Selling Skills & Motivating the marketing officers
Sales promotion: objectives, factors influencing it, tools, implementation and evaluation of promotion results
Publicity: Definition, implementation of publicity plans

DAY THREE

Customer Relationship Management

Basic concepts of customer relation
Principles of Customer Relationship Management
Framework for customer relationship management
Implementation of customer relationship management programme • Customer relationship management strategies.

Customer Care for Business Success

An integral part of customer relationship management
Defining the customer: (internal, external, existing, former, potential, indirect and ultimate customer)
Customer management stage analysis
Why and how customer care fails
Customer care is people business

Ethical Marketing