Indian banks incur fairly respectable ad spends. However, most ad activities are restricted to the print media, with a distant second position being occupied by hoardings. Only a handful of banks are regularly advertising in the electronic media or the cyberspace. Banks have to become more professional in this area and work out a comprehensive PR policy, which receives greater top management attention, is understood and accepted across the organization, and is used for creating/ improving one composite image. It is desirable to ascertain the efficacy of their ad spends by undertaking an effectiveness study, preferably with professional help.
Banks in India try to get the maximum mileage through the publicity route. Towards this objective, they organize several events which are extensively covered by the print and electronic media. Even then, they spend a huge sum of money on releasing advertisements. The advertisements released by banks may cover routine matters like the change of address of branches on relocation, opening of new branches, change in the rates of interest on deposits and loans, or even the inauguration of ATM facilities at new centers.
Banks in India occasionally advertise their vacancy positions for staff recruitment. While private sector banks may adopt the process of campus recruitment for higher level recruitment, thereby obviating the need for advertisement activity, job advertisement are released by PSBs in Employment News and other news papers, with a view to creating a larger awareness. With computerization happening on a major scale and banks trying to popularize alternate delivery channels, the need for additional staff, nowadays, is only marginal. Further, with banks showing a tendency for greater dependence on outsourcing for many routine processes, this need is going down further. |
