In the previous article, we discussed the marketing strategy of SALESFORCE. Now let’s know the marketing strategy of MUFG.
You are in the right place to know about MUFG, a financial group. You will find everything regarding the company and their strategies etc. The blog will help you to understand the key concepts behind digital marketing.
In this blog, you are going to learn about the marketing strategies of Mufg which makes them one of the largest banks in the world. The blog consists of strategies followed by MUFG in segmentation, targeting and position, marketing campaigns, Social media marketing, SEO strategies, influencer marketing, e-commerce strategies, mobile apps and content marketing strategies.
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We will explain well and take you to understand the marketing strategy of MUFG.
About MUFG –
Source – Wikipedia
MUFG is one of the world’s largest banks in the world and is positioned at 4th it is vastly spreading its services all over the world.
Now it’s not only concentrating on financial services but also started on asset services, connecting with investment firms etc.
Mufg is the “Mitsubishi UJF financial group” which is a Japanese bank formed by combining three banks after 1960. At present, it has more than 3.2 trillion dollars and spreads its services across 50 countries in the world. Yataro Iwasaki is the founder of Mufg.
MUFG started providing financial services like commercial banking, trust banking, credit cards, and banking services initially. Providing good services to the customer made their company grow well. Now MUFG is the largest company that provides financial services like loans to many companies.
MUFG is known for its trust in banking services. Also, they aim to make people feel MUFG means trust.
|Industry||Finance and banking, asset management, leasing etc.|
|Market Revenue||$48.3 B per year|
|Vision||Be the world’s most trusted financial group|
|Tagline||Your trust, your future, our commitment’|
Marketing Strategy of MUFG –
Let us go deep into the marketing strategy of MUFG, first let’s understand its Segmentation, targeting and positioning.
Segmentation, Targeting and Positioning
Segmentation means dividing the audience into small groups by various factors. MUFG make segments on locations like Asian, African, American, Australian, and Other place and divide them into age groups. As it is a huge brand in financial support and banking MUFG in the world follows this geographic segmentation.
The company is following three key strategies to reach its aim for the upcoming three years they are corporate transformation, strategy for growth, and structural reforms. They do not have any targeting audience in the age groups but the majority of them are 25 – 34.
Positioning means the thought that came into the mind of a brand by its name. The name MUFG itself makes a sense of trust among the banking and finance companies. The MUFG make social services feel the audience MUFG means trust.
- MUFG Gives Back 2013
This is a long campaign run by the MUFG since 2013 after the Great East Japan Earthquake to support unemployed people to participate in community service.
The fifth phase of the campaign started in 2017 over 10,000 people participated in 35 countries.
But in America, the phase was extended on April 1st,2019 and ended on 1st March 2020. The colleagues of the MUFG volunteered more than 64,000 hours of local community services in the United States. Union Bank was also a part of the service.
The community service helped the people starting before the pandemic month though the MUFG’s CSR went up and made good fame for the company in the areas of the United States, Canada to Brazil.
Even though their “MUFG GIVES BACK” ended, many community services are being done by the MUFG under the same slogan ” MUFG GIVES BACK”.
- Renaming the Brand name 2018
In 2018 the “Mitsubishi UFJ financial group” was renamed “MUFG BANK” and made a branding campaign across 50 countries around the world through the involvement of 80 thousand employees of MUFG.
The campaign is around 2 and half months covering media events, printing, sponsorships etc. It succeeded well because it’s not a new company it is already in and just changed its name benefiting them to grow up with the campaign.
The MUFG did make investments in marketing campaigns. They grew their company organically
- MUFG commercial card opening in 2022
To overcome the payment speed and accuracy for commercial usage to make payments faster between supplier and buyer virtual card system has been initialised for the payments. There are no plastic cards provided for the payments making eco-friendly payments fast and secure between supplier and dealer.
It could increase vendor participation effectively. Enhances speed control and integrates virtual payments.
Social Media Marketing
Over 1.17% of their customers in the past 6 months are from social media.
- Facebook – 32,292
- YouTube – 681
- Linkedin – 244k+
- Twitter – 125.7k
They have maximum followers on Linkedin.
They are actively attractive through posts, videos and some offers also. They are promoting their brand.
But the MUFG is not active on YouTube; they post only a single video every month; this may lose some of the customers who are most active on YouTube. They post their plans, and the strategies they follow to reach their plans.
They are super active in posting their job vacancies every day and promoting their brand in the job circle is also good.
Source – Ubersuggest
As per SEO Analysis, organic keywords below 500 are bad, more than 1000 are good and more than 10,000 is amazing. As seen MUFG has 182K+ organic keywords which are remarkable.
Monthly traffic of more than 20,000 is amazing and MUFG has monthly visits of around 7.3M which is astonishing.
There are no specific influencers in the MUFG but the employee and some of the marketing management make videos of their life in the MUFG and build their trust among the common people that MUFG is a brand of trust.
There is some positivity with this process of influencing i.e it will be unique with a lot of advertisements on social media and TV channels describing the bank by the employee will look like it’s an introduction to their company and this makes it easy to understand what is MUFG this unique type of influencing making them attract more audience and in the banking sector, there is no need to influencing but this type of influencing making the employee famous and the brand too.
E-commerce is not good for MUFG one must visit the branch to open a personal bank account which is too far for people from other countries because every bank is allowing their audience to open a bank account online.
The online account opening may be available in Japan and USA but it is not fully available in each country. So this may be a disaster for the growth of the company because there will be banks available that are convenient to open an account in the audience country.
There is an app on android for financial help making and maintenance of income and expenses. It’s good but it is not for those who have an MUFG bank account in INDIA it may vary from country to country. Though it is a good app there are lots of issues with the app. So, it has gotten only an average rating i.e. 3.9 out of 5.
Content Marketing Strategies
As we discussed at the starting, the main strategies to get them in a rich position are their content and the three transformations, strategy for growth, and structural reforms. The best content from them is attracting the audience well.
This brings us to the end of the marketing strategy of MUFG.
What’s unique about the marketing strategy of MUFG?
The MUFG is unique because the companies and the opponents which are ahead of MUFG belong to China. The Chinese banks will struggle shortly because they gave huge loans to the real estate business but the problem started in the last month of June 2022 the real estate is dropping too much because of more than the population the rooms of real estate are more.
This is placing a major factor that dropped the real estate value and the business which took loans to complete the projects are going bankrupt.
The Marketing Strategy of MUFG is brilliant. They don’t invest much in SEM and many paid advertising paths they invest in helping community services which help to develop the society and develop the brand’s name in the community.
So, they don’t need much to invest in advertising. There are 35 countries where they are helping the communities. Hence it will benefit MUFG in the banking services in the future. Digital marketing skills are required for every company and keep learning them from IIDE.
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