Guerrilla marketing tools in financial service organizations

Abstract

The article analyzes the concepts of guerrilla marketing, guerrilla marketing advantages and disadvantages, the guerrilla marketing tools, and marketing in financial institutions. The purpose of the article is to evaluate the tools of guerrilla marketing in financial institutions. Guerrilla marketing is a powerful tool to influence consumer behavior, stimulate sales, do non-traditional advertising, promote competition, meet consumer needs, raise awareness of a product or service, and creative advertising for which a certain budget is required. Guerrilla marketing is based on creativity. Guerrilla marketing is a quick way to promote a brand. Guerrilla marketing doesn't require a lot of investment in an effective marketing campaign when imagination, energy, creativity, time and information suffice. Guerrilla marketing benefits small businesses. Guerrilla marketing requires a small investment to reach the target audience. During guerrilla marketing, people are involved in, or become participants in, guerrilla marketing. Information will be available in a short time. Guerrilla marketing builds strong customer relationships. It is shown that the benefit comes to the consumer, not the business. Guerrilla marketing usually promotes an unusual way of remembering a company’s brand, product, or service deep in customers ’minds. Guerrilla marketing is one of the most innovative practices that can be used to effectively educate consumers about a brand and its benefits. It uses the least amount of money to reach customers, emphasizes creativity and a long-term vision to make a lasting impact on consumers. The article examines guerrilla marketing, which has several key tools for market exposure: a one-on-one offer, which is one of the oldest ways to increase sales - just a casual person trying to sell a product, this method is effective and beneficial in that you can interact with potential customers about their needs and approach to the product; another tool used is a business card, which we can use as a promotional tool, because on the second side of the business card you can briefly describe the services provided, product benefits and other useful information, the next step is to write personal letters to offer and provide your services, and letters or calls should be as individual as possible; the last step could be simply advertising, as there are many online advertising portals where you can place ads for free, so you should take advantage of that. It is emphasized that such tools can be effective because people who read such ads are usually already looking for a similar product. The aim of the research is to investigate the methods and practice of using guerrilla marketing tools in financial services organizations. The paper is based on analysis of scientific literature and case studies. The study includes an analysis of the theoretical literature as well as a case study and comparative analysis. Therefore the key to guerrilla marketing is to become an effective tool in a highly competitive environment where consumer behavior is rapidly changing as a by-product of technological advances and the contemporary internet media. Moreover guerrilla marketing in the financial sector is a marketing technique that creates enthusiasm and engagement with the target audience. Financial guerrilla marketing really sets it apart from traditional forms of marketing - it focuses on a smaller market segment and the smaller budgets needed to run a successful campaign. In addition, advertisements for guerrilla financial services are acceptable. Random outdoor marketing is non-standard outdoor advertising. Ambient advertising is placed on street manhole covers, cranes, pizza boxes, free postcards in bars and elsewhere. All of this is somewhat unusual.

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“…In contrast to traditional marketing, guerilla marketing tends to be non-invasive and uses multiple outof-the box techniques as well as a lower budget to achieve results. Such campaigns often generate awareness, surprise, excitement, and remembrance because they can be built using creativity, arrogance, and humor (Dubauskas & Išoraitė, 2022;Onurluba, 2017). Guerilla marketing includes the incorporation of.street art, drones, publicity stunts, fake reviews, stickers, as well as the incorporation of hired models (Bigat, 2012).…”