Alubaf Bank Marketing Strategy | Digital Marketing for Banks in Bahrain
Alubaf Bank, Digital Marketing Strategy
- About Bank of Alubaf Bank
- Purpose of the document/Blog
- Research (Advertising/Organic etc.)
- Competitive analysis
- Traffic & Domain Analysis:
- Organic Search
- Organic Search: Top keywords
- Organic Search: Keyword Position Distribution
- Organic Search: Top Competitors
- Organic Search: Competitive Position Map
- Organic Branded Search 6 Branded vs. Non-Branded
- Organic Search: Branded Traffic Trend
- Paid Search
- Paid Search: Top Keywords
- Paid Search: Ad Copy Position Distribution
- Paid Search: Top Competitors
- Paid Search: Competitive Positioning Map
- Display advertising
- Display Advertising: Recent Sites
- Display Advertising: Landing Pages
- Display Advertising: Sample Text Ads
- Display Advertising: Sample Image Ads
- Organic Search
About Alubaf Bank
The 2016 financial year was a challenging one for the banking industry as a whole, with diminishing economic growth both in the region and worldwide, which has impacted the quality of assets in these regions. Alubaf experienced an increase in non-performing assets in 2016, which required sizable provisioning during the aforementioned year.
Interest and similar income for 2016 amounted to US$ 39.6 million, compared with US$ 47.6 million for 2015, signifying a reduction of 17%. On the other hand, interest expenses for 2016 stood at US$ 8.6 million, signifying an increase of 184% compared to 2015. Thus, net interest income decreased by 30% in 2016 compared to 2015, mainly due to the increase in interest expenses.
Purpose of this blog
We will audit the digital activities of Alubaf Bank and further analyze as of how Digital marketing can add value, i.e. will primarily focus on the analysis of the website & company’s current marketing activities (external) i.e. what the bank is doing. Identifying the GAP AREAS i.e. what are the areas of improvement and then strategize what can be done to achieve their objective. The bank needs a better digital marketing strategy which can enhance the current customer retention and promise a sustainable new customer acquisition for the bank in the market of Bahrain i.e. Prospecting plus Client Acquisition.
Technical Website Audit of Alubaf Bank
Overall they need some good work, the score of 6.5 over 18 parameters checked on the website, we could say they are doing average, 5 pages are checked with some issues over meta-tags and description on the website, so they need to work on the “SEO” section, but their marketing is “worsening everything”, with a score of 3.2 they really need aggressive work on marketing channels.
Research (Advertising/Organic etc.)
Organic Competitive Analysis of Alubaf Bank
Below are some of the top competitors in the region. On a bird’s eye view, we can infer that Organic traffic is close to nil and they are not running any paid ads, their attention towards marketing is not illuminant.
Below chart shows you the marketing efforts of all other banks and I suppose Alubaf Bank should invest some time and efforts to grab some marketing share.
Traffic & Domain Analysis of Alubaf Bank
Organically they are not strong enough in terms of traffic, they need to work hard on marketing and developing trust in the Country. Paid Channels constitute of both “Search and Display” i.e. they need to run paid campaigns on all major channels.
Their traffic sources are really weak, organically they are not strong and on paid channels Zero effort.
Some random keywords of other banks are generating ranking impressions starting from 11th position i.e. technically their traffic is close to “NIL”
Organic keyword positioning is mostly concentrated from 11st -90th position on Google which is BAD i.e. no organic traffic whatsoever, this bank needs to work on marketing, and efforts are needed on all the channels
On the top queries related to banking/financial services, other banks are per
For ALUBAF bank you can see they are neither receiving any traffic from branded nor from non branded so their content strategy and ZMOT presence both need serious work, a detailed keyword audit of Competitors will help to identify lucrative keywords and a structured content strategy can be constituted to increase Banks share in the organic market.
Competitive Positioning Map
They have not invested in Display or Search marketing and other channels (as shown above) as also not producing any traffic so overall plan is needed if they really want to invest in marketing.
- They need to first invest on content strategy to level up their Organic presence in the market and then strategy will revolve around more branding efforts via display marketing on multiple channels
- They need to work on their “Content Messaging” i.e. positioning of tone/offer etc. Direct selling is somewhat old strategy and if they want to really engage in terms of conversions, they need better marketing concepts and themes
- To level up, they should invest in “Conversational Marketing”, Support Center and “Whatapp Business Api” for better customer engagement.
- Advanced Marketing automation by Marketo, customer mapping and advance campaigning by web engage, dynamic retargeting via Cretio, etc.
- Video content marketing to establish as a thought leader in the market.
Major revamp and structured plan for the future is needed to take Alubaf bank altogether to the next level. Both micro and macro level strategies need to be created and instant campaigns are needed in terms of branding. I am pretty sure that they lack “Concept/Content creation” on the client side; hence they need an expert in “Creating Marketing messages for Financial institutions” to help them in long term marketing campaigns.