Essay Marketing Activities Of Bank Of Ing Group

Essay Marketing Activities Of Bank Of Ing Group

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Although ING-Group and particularly its German subsidiary ING-DiBa AG (“DiBa”), the retail (and direct) bank of ING-Group, have been pioneers in terms of effective usage of digital marketing, the knowledge and the efforts of its sister company “ING Bank”, the German commercial bank (my employer), are still in its infancy. With ING Bank’s initial focus on multinational corporates, they didn’t see the need to put a lot of efforts on marketing activities in the commercial banking area, least of all to put particular emphasis on digital media. After the financial crises this worked well for a while as commercial banks could sell their services mainly through providing enough balance sheet commitment, i.e. providing corporate loans to clients. Nowadays, where liquidity is much easier to get on the capital markets and where particularly German banks have tons of liquidity, this criteria becomes less important as lending becomes more a commodity type product. Thus, competition increases, margins are shrinking continuously and it becomes much more important for ING Bank to use effective marketing measures to attract new clients and to increase loyalty of existing customers.
As it turns out, ING’s existing corporate clients often are not aware of the capabilities and product offering of our bank. They hence don’t even consider ING Bank as a possible partner for supply chain finance, leasing, M&A transactions or global Cash Management solutions. In order to increase awareness marketing measures are of great importance. With respect to Digital Marketing, and in particular Outbound Marketing, the use of s Native advertising should help to increase visibility towards both, new clients and existing clients. Most managers working in the corpora...

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...r something on the internet, they often use their online devices and an improper designed website might be not considered from them at all.
Furthermore (DiBa does it already for the retail clients), ING Wholesale Germany should consider offering App’s for their corporate clients. It is clear that needs of corporate clients differ significantly from the needs of retail clients, however there are still lots of opportunities, such as a “factoring-app” for example, that would allow factoring clients to easily upload and pre-finance their receivables. The legal framework might be somewhat challenging as banking services require a high need for security. Nevertheless, the landscape is changing, and if the bank doesn’t offer innovative solutions, other players, such as Google or PayPal will take the chance to so (as they have already done in the Cash Management business).

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