Marketing of Banking Services and User Satisfaction with Banking Services

In its origins and historical development, the bank has had various functions, from storing what was then coined money to the function of financing. The offer of banking services is becoming increasingly important today, in a period of numerous takeovers, mergers and strong competition between banks. They have developed a host of modern banking instruments that enable us to conduct business simply, not only through the bank counter, but also from the workplace, from home, via telephone or computer. Since the research shows that many clients do not use quite a few of the services that banks offer, I conclude that this is because the services are not presented well enough to them and they do not know about them. The bank has many ways of market communication and communication with the public available:

Problem

In its origins and historical development, the bank has had various functions, from storing what was then coined money to the function of financing. The offer of banking services is becoming increasingly important today, in a period of numerous takeovers, mergers and strong competition between banks. Banks must offer their clients a whole range of services and put their customers first, ensuring them access to the best services and products.

They must strive to ensure that their clients' savings are invested as safely as possible. Banks are looking for effective solutions in introducing their market channels and expanding the offer of banking services, which is also enabled by new technology that has to a certain extent changed the organisational approaches of certain banking services. The times when a customer was loyal to one bank for life have passed with rapid technological development.

Consequently, banks are accelerating their efforts to innovate their services. The offer of banking services has become increasingly adapted to the needs and requirements of bank clients. Innovations in banks are implemented in various forms.

This has been brought about by different needs, but primarily by different objectives that individual banks pursue in their business policy. The forms of innovation also depend on the type of bank introducing the innovations. In the last decade, banks have already modernised and adapted their operations to development trends.

Solution and Method

They have developed a host of modern banking instruments that enable us to conduct business simply, not only through the bank counter, but also from the workplace, from home, via telephone or computer. Due to greater accessibility and use of cash machines, telephone and electronic banking, banks do not intend to abolish classical operations, where the customer conducts their monetary affairs more directly, in contact with a bank employee. Banking loyalty means dedication (trust) on the part of the user towards the bank and represents a certain guarantee for the continuation of the relationship between them and the bank.

The bank can only achieve loyalty if it considers and improves those banking factors that are important to the user and monitors and increases user satisfaction, both with services and with banking factors. After Slovenia's independence, the number of banks in our country increased, which led to ever greater competition, so banks had to start behaving in a market-oriented manner in order to maintain or increase their market share. The bank must primarily focus on thorough preparation and adaptation of its operations to European conditions, because only in this way will it be prepared to face European competition.

It is also very important whether it will be capable of international competition with its offer of services and their prices. Questions of how to increase productivity and, in connection with this, reduce costs are particularly prominent. The development of new banking services and the development of an effective information system and technology as a basis for new services is a condition for acquiring new clients.

Market orientation and the maintenance and cultivation of a correct relationship with clients must completely prevail in the bank's business policy. Creativity and originality of ideas are important in formulating the market strategy and positioning the bank on the market. The future of Slovenian banks lies in further mergers, which is becoming a necessity for the survival of Slovenian banks in the European Union.

I believe that the advantages of bank mergers would be particularly evident for large companies, which will have extensive credit potential available for financing larger projects, easier access to international markets and more demanding services in the field of investment banking. Competition is extremely strong and aggressive, and the market will only enable the survival of the most adaptable banks. Profit depends primarily on competing with other banks, and this can only be done through analysis of services, one's own capabilities and the formulation of one's own strategy.

Strategy means identifying target markets, seeking the best opportunities, abandoning unsuccessful services and developing such services that are cost-effective for the bank and interesting for clients. Clients are also becoming increasingly educated and demanding. Increasing emphasis is being placed on service quality.

More and more individuals are also deciding to transfer their account to another bank for the most ordinary reasons. To provide quality services, a bank must have high-quality technology and highly trained staff. It must work closely with its clients, obtain information from them that it needs in order to provide them with appropriate services.

It is necessary to ensure quality in the daily work of each individual in all work tasks (processes that allow errors must be improved, work must be done correctly at the first attempt).

• advertising the brand and services in the media;
• sales promotion – personal letters, information brochures, prize competitions, various gifts;
• public relations (creating a positive opinion about oneself and one's activities through correct and proactive communication, building reputation);
• personal selling, which establishes the most personal contact with clients. Bank employees are very important in this, as client satisfaction depends on them. They themselves must believe in the services they offer, because only in this way will they be truly successful in their work.

Results

Since the research shows that many clients do not use quite a few of the services that banks offer, I conclude that this is because the services are not presented well enough to them and they do not know about them. The bank has many ways of market communication and communication with the public available: When communicating, banks should choose those communication channels that most effectively reach their target groups and are most appropriate to the character of the brand and the service they are communicating. Competitive advantage can also be achieved through socially responsible behaviour, which is reflected in the attitude towards the environment, attitude towards the community and attitude towards employees.

Employees who feel satisfaction at work, the validity of their work and thus belonging to their bank will be motivated and effective in their work, which will also be reflected in their attitude towards clients. The bank can also build its relationship with the community through donor and sponsorship funds, with which it supports and develops cultural and sporting events and helps vulnerable people and communities that are particularly in need of help. At the same time, it can use sponsorship investments to promote its brand and its offer.

It is extremely important for banks to monitor the operations of competing banks and their activities, as only in this way can they determine advantages over the competition, where their weak points are, what they can improve, where danger lurks and where they see their opportunity ahead of competing banks. Based on the findings from the research, I propose that the bank must focus in its market strategy on constant monitoring of the following indicators: All research is in vain, however, if banks do not analyse their results and do not incorporate them into activities for achieving set objectives.

Measuring the effectiveness of measures and constantly adapting one's market strategy to findings are the basis for maintaining and increasing market share.

• User satisfaction with banking services – it is necessary to actively monitor the needs, wishes and requirements for additional services on the part of users. Regular client satisfaction surveys can alert the bank to shortcomings in good time.
• Satisfaction of one's employees – constant monitoring of employee satisfaction and active management of programmes for greater satisfaction can create a competitive advantage over other providers. It is precisely employee satisfaction, which is reflected in all their behaviour, that can be that key difference that the competition cannot imitate.
• Effectiveness of market communication – monitoring the effectiveness of the communication mix used and tracking competitor activities ensure optimal use of resources and a basis for planning future activities.