engleski

Relationship marketing strategies in financial industry with special emphasis on case of bank in Croatia as a new EU member state

Financial industry is going through serious difficulties and time of uncertainty due to the global financial crisis that marked the beginning of the 21st century. The banking industry is becoming more complex due to new financial products and services offered to customers and many of them feel insecure regarding many kind of investments, especially after the global crisis in 2008. All banks globally are looking for new marketing strategies to promote their increasingly complex products and services in unsecure global environment. Customer relationship management (CRM) is nowdays global trend in management in general, as well as in the banking industry. Financial services industry increasingly include communication via e- banking system, which is now widely possible due to the rapid development of technology. Banking has passed a long way from the traditional banking, which guarantees the safety of its customers and their savings accounts, to modern e-banking in which the client is often no longer in a position neither to personally communicate with financial advisors. In many developed countries, bank transactions take place exclusively through virtual and ATMs have replaced stop offices and administrative staff. New technologies, still, however, can not help the fact that the bank's clients feel completely safe in all ways of interactions with the banks. Clients in the financial industry are not only theft on the Internet transactions, but also there is a justified fear of the collapse of their banks. The fear is pretty justified given the fact that the part of banks failed in the last world crisis. The authors explore new marketing strategies of banking industry with special reference to the case of bank vault in Croatia as a new member of EU. The banking industry and the financial industry in general needs to use modern marketing strategies and tools to assist in their feeling of security but also in their faith in longevity of their banks. Clients involved in the banking system will invest their savings only if they believe that their bank (e-bank or classic bank) will not fail in any of the possible following global or regional crisis.

Financial industry ; customer relationship management ; relationship marketing ; E-banking

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