Digital Marketing Report: ICBC's Relationship-Based Approach Analysis

This report analyzes the digital marketing strategy employed by the Industrial and Commercial Bank of China (ICBC). The report focuses on ICBC's relationship-based approach, which utilizes internet tools such as mobile banking and SMS messaging to enhance customer engagement and loyalty. It discusses the application of digital marketing theories, particularly the relationship-based theory, and how ICBC leverages these strategies to provide personalized services, such as personalized messages and updates on financial matters, including stock exchange policies, birthdays and holidays. The report also highlights the various services ICBC offers, including personal loans and corporate banking services, and how digital marketing supports these offerings. The analysis is supported by several academic references that explore digital marketing, customer relationships, and the financial services industry in China.

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Introduction
Digital marketing is the process of creating awareness of a product and services through
the use of internet tools, such as Facebook, mobile marketing, and email marketing among
others. Thus the digital marketing strategy is the scientific approach used to explain the changing
behaviors of customers as a result of the digital marketing tool. Theories include generational
theory game theory, network theory, collective intelligence theory, and relationship-based
theory.
A relationship based digital marketing theory is a marketing strategy that aims at
retaining the customers through creation of closeness and loyalty of customer to the organization.
This is achieved through constant communication with the customers through messaging and
calling to know customer’s experience.
Industrial and Commercial Bank of China is the world most significant financial
institution providing different services to both the China domestic and international customers.
ICBC Provides personal loans such as the principle of “happy loans” to finance the international
students to receive education, the corporates banking services enable organizations that are
keeping money with the bank to be able to access their money through the mobile phone
transaction anytime and manage the accounts through the ICBC Mobile Banking. The BankCard
known as Peony RMB Credit card is issued by ICBC to the customers that are capable of
overdrawing consumption mode in the global market.
ICBC applies the digital marketing theories, especially the relationship-based approach.
Through the constant update of customers through short messages with information’s of their

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bank status, new stock exchange policies. ICBC personalized the words such as events, holidays
and birthdays messages to customers that eventually make customers feel recognized leading to
the growth of trust and loyalty

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List of References
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adults’ interest in energy drinks: An exploratory investigation', Plos ONE, 12, 2, pp. 1-16,
Academic Search Premier, EBSCOhost, viewed 2 May 2018.
Critchlow, N, Moodie, C, Bauld, L, Bonner, A, & Hastings, G 2016, 'Awareness of, and
participation with, digital alcohol marketing, and the association with frequency of high episodic
drinking among young adults', Drugs: Education, Prevention & Policy, 23, 4, pp. 328-336,
Academic Search Premier, EBSCOhost, viewed 2 May 2018.
Dua, S 2016, 'A study on Impact of China Crisis 2015 On Asian Countries', International
Journal Of Recent Research Aspects, pp. 41-44, Academic Search Premier, EBSCOhost, viewed
2 May 2018.
Fogues, R, Such, J, Espinosa, A, & Garcia-Fornes, A 2015, 'Open Challenges in Relationship-
Based Privacy Mechanisms for Social Network Services', International Journal Of Human-
Computer Interaction, 31, 5, pp. 350-370, Academic Search Premier, EBSCOhost, viewed 2
May 2018.
Levy, T, & Meyer, D 2012, 'Challenges of Network Governance at the State Banks of
China', Journal Of Contemporary China, 21, 75, pp. 481-498, Academic Search Premier,
EBSCOhost, viewed 2 May 2018.

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Shang, Q, Pei, G, Jin, J, Zhang, W, Wang, Y, & Wang, X 2018, 'ERP evidence for consumer
evaluation of copycat brands', Plos ONE, 13, 2, pp. 1-13, Academic Search Premier,
EBSCOhost, viewed 2 May 2018.
Tobin, D 2016, 'Continuity and Pragmatism: How Chinese State-Owned Banks Adapted to Hong
Kong’s Free Market (1949–1978)', Journal Of Contemporary Asia, 46, 2, pp. 267-285,
Academic Search Premier, EBSCOhost, viewed 2 May 2018.
Yao, Z, & Xin, G 2017, 'A fuzzy optimization method to select marketing strategies for new
products based on similar cases', Journal Of Intelligent & Fuzzy Systems, 32, 3, pp. 2679-2695,
Academic Search Premier, EBSCOhost, viewed 2 May 2018.