RESEARCH ON THE PRACTICAL ASPECTS OF THE PROVIDING EFFICIENCY OF MARKETING COMMUNICATIONS’ BANK

Abstract

Abstract. The marketing communications play an important role in the activities of banks, because it is one of the most important elements of the marketing activity. As an element of a banking institution’s marketing activity, they must be carefully planned, organized and controlled. The need to plan marketing communications in the bank stems from the fact that today it is difficult for consumers to navigate the banking services market. The ongoing competition for each consumer in the banking market drives banks to integrate marketing communications. Banks are in constant contact with customers of banking services, financial institutions, central banks, etc. Any bank requires interconnected communications that are constantly evolving to meet the changing external and internal environment. Thus, marketing communications play an important stage in the bank’s marketing activity. In an age of digital economy, marketing communications are a prerequisite for improving the increasing the effectiveness of banks and their profitability. The practical aspects of ensuring the effectiveness of a bank’s marketing communications are considered and explored in the article. The structure of the bank’s marketing communications complex is influenced by the following factors: the level of management of the bank, the degree of purchasing power of the potential client, the strategy of promotion of banking services, the peculiarities of the complex of marketing communications of competitors and the financial capacity of the bank. In particular, digitalization (digitization) of the bank involves the modernization of the banking structure, products and channels of interaction with its customers by applying modern technologies to increase the effectiveness of marketing communications, increase profits and its competitiveness.