The Main Trends and Features of Banking Marketing in the Digital Economy

Keen competition in the market of banking products has made effective marketing activities of banks one of the most important factors of their successful functioning. Changes in the technological and socio-cultural environment require the adjustment of current marketing practices, as well as the active introduction of modern methods of promotion. The development of digital means of data transmission and their active use by the population has led to an interest in digital marketing. The features of bank digital marketing as one of the sectoral types of marketing have been determined. The main characteristics of marketing Ukraine's banking services have been outlined. The results of the study of major trends in digital marketing used by domestic banks in 2020have been presented. It has been found out that the cost of Internet advertising in the media component of marketing communications increased by 2.9 times up to UAH 2.3 billion, while the volume of television advertising decreased by 8% to UAH 3.9 billion. At the beginning of 2020, the expenses of banking institutions for marketing and advertising increased by UAH 571 million compared with 2016. The results of the research show that in 2020, only 29 out of 75 banks used Chatbots and seven of them used Chatbots as marketing communication channels with their customers. Only 11 banks of Ukraine prove to have significant success in doing marketing activities on social networks. The study allows us to note that most banking organizations are actively using certain tools of digital marketing promotion replacing traditional banking transactions with services based on the use of artificial intelligence, and moving into cyberspace. Only a small number of the analyzed financial institutions use all possible tools of digital marketing. Banking institutions have focused mainly on offering an improved customer experience, with more personalization and more customized services to increase customer satisfaction.