Analysis of Metro Bank's Promotional Mix and Communication Strategies

This report analyzes the promotional mix and communication plan of Metro Bank, focusing on its digital communication strategies. It examines how the bank utilizes digital channels, such as internet and mobile banking, to reach its target audience, primarily residents of London and the UK, including those without bank accounts and dissatisfied customers of rival banks. The report explores the bank's use of the AIDA model (Attention, Interest, Desire, Action) to attract and retain customers, emphasizing the advantages of digital communication for reaching a wider audience. Key performance indicators (KPIs) such as customer feedback and direct contact with bank management are discussed. The report highlights the bank's key message, which includes changes in the financial market and the benefits of digitized banking services. Furthermore, the report justifies the choice of digital communication channels, considering the competitive landscape and the ability to inform customers about market changes and provide direct customer service. The report also includes a bibliography of cited sources to support the analysis.

Proposed Promotional
Campaign
As the Metro bank is
opening personalized
service, customers will
have the option to
contact the bank
management 24/7.
The bank is also kept
open 7 days a week
As optimised
information are send it
will be possible to focus
upon the main business
promotional techniques
• The advantage
Justification of the chosen communication Channel
With digital communication technique it will be possible
for the bank to reach out to wider customers in short
time period
Effective use of the situation can also be made as most
other Rival companies are using digital techniques to
connect
Customers will also have the option to raise any form of
issues directly to the bank management
Change in the market policies can also be quickly
informed to the target audience
Key message
The key message of communication plan will include changes in the financia
market of UK which will include changes in inflation and interest rate
Awareness level of the public will be raised about importance of using prope
digitized banking service
• The competitive advantage of the metro bank will also be highlighte
Key performance indicators
Regular feedbacks will be collected from the customer in
the form of online survey
The customer will also have the opportunity to directly
contact Bank management for raising any kind of fraud
Use of AIDA
The attention of the customer needs to be drawn towards the
fact that the Metro bank is open 7 days in a week
The interest of the customer will be benefited through the
innovative digital banking service
The Desire of the customer can also be made by effective
Bibliography
• About us | Metro
Bank. (2018).
Metrobankonline.c
COMMUNICATION PLAN OF METRO BANK
Introduction
Communication plan is an
essential tool in promotional
campaign of business
It can help to send optimized
information to the target
customers.
Communication plan of business
plan is implemented according to
the given situation in market.
The organisational objectives and
goals are also clearly conveyed to
the customer through
communication plan
The communication plan of the
Target Audience
The target audience of Metrobank includes all the
people mainly residing in London and other parts of
UK and Scotland
The organisation will target the people, who do not
yet have a bank account
The Metro Bank will also target the unsatisfied
Conclusion
With effective business
communication plan it is
possible to generate
effective competitive
advantage.
The Metro Bank will use the
advanced digital
Promotional Mix Theory
Digital communication is
the primary mode of
promotion used by the
Metro Bank
Lower interest rate are
implemented in order to
gain competitive
advantage
The operational
processes are mainly
dependent upon internet
and mobile banking