Financial marketing is a special part of the marketing of services, which is used in both product sales, as in the provision of services by financial institutions.

It is important to take into account the specific characteristics that have the financial marketing:

Strong state regulation. This requires all banks to compete on equal terms.
The existence of entry barriers. Formal and informal.
Maintaining permanent relationships between the entity and its customers.
The intangible nature of financial products.
Heterogeneity of products.

This discipline has evolved as a result of changes in the financial sector such as the liberalization and internationalization in terms of regulations, significant increase competition and greater demands by the customer in terms of price and service.

In response to these changes, bank branches have left behind some of the bureaucratic tasks to consolidate as a customer and generating added value. This is because the quality of financial services:

Generates greater customer loyalty
Reduced vulnerability to price wars
Operating costs are lower. It must tend to error 0, and is not necessary to correct anything.
He feels good. No turnover.
Increase market share.

Banks have gone from an undifferentiated strategy (no segmentation, they attack the whole market as a whole, is based on common characteristics of all consumers) to a different strategy (that is multi-segment strategy, attack with different products). Which specialize in specific customer segments, compared to the massive attention that claimed to offer.

The traditional distribution channel of supply is based on the bank branch network. The role of the branch in the company’s strategy is linked with market segmentation. Thus we have:

Full-service branches (branches Universal)
Branches with limited services (limited services office)
Specialized branches (office specializing in certain customers)

As a result of this strategic change new forms of distribution of financial services such as ATMs, internet-banking, telephone banking, among others.

The commercial development will be more customers, either through reduced financial margins by creating products tailored to specific population segments.

Communication in the financial field converges towards specific groups of people, rather than universally communicate the message and focus on quality service, brand image and differentiation from competitors.

Finally, the banking sector has been restructured as a result of not only the opening of markets in a globalized world, but also as a result of the direct application of strategic marketing focused on the client.