MARKETING PLAN FOR BANESCO USA

This project is a marketing plan that outlines the launch strategy for Banesco Select, a new checking account designed to strengthen its position with current clients and attract new customers. This plan outlines a targeted segmentation strategy designed to achieve two key goals: attracting new clients seeking a primary financial institution and encouraging existing Banesco customers to designate Banesco Select as their main banking product. Following Trenggana et al. (2022) steps on customer loyalty, the product focuses on offering superior benefits, like free checks, faster card delivery, and convenient daily-use financial products. Through an extensive analysis of existing customer data, Banesco will identify distinct customer segments based on financial behavior, preferences, and engagement potential. Each current client and potential customer will receive personalized outreach through direct communication channels like phone calls and customized emails (Li & Liu, 2021). This includes focusing on factors like streamlined banking experience, and a full range of financial services and products. To incentivize migration to Banesco Select, the plan offers exclusive deals and simplified processes to ease the transition of financial assets. Additionally, Banesco will showcase competitive interest rates, fee waivers, product perks, and personalized financial solutions to cater to individual needs. In conclusion, his segmentation-driven marketing plan aims to create deeper connections with both existing and new customers. Through personalized communication, attractive incentives, and attentive follow-up, Banesco wants to elevate customer engagement, drive higher account consolidation rates, and establish lasting relationships with a satisfied and loyal customer base. By focusing on targeted segmentation and a superior customer experience, this plan positions Banesco Select to become the primary financial product of choice for its clients.