In our previous article, we had learnt in detail about the SWOT analysis of PNC. In this blog, we are going to explore the marketing strategy of PNC – one of the largest financial service companies in the US.
The aim is to learn and gain insight into PNC and how it become one of the largest financial companies in the US and the objective to become the largest financial company in the US
Marketing is an integral aspect of a company’s DNA that may make or break its success. As users all around the world migrate to the digital sphere, marketing has followed suit. If you’re interested in modern digital marketing, IIDE’s Free MasterClass on Digital Marketing 101, taught by our CEO and Founder, Karan Shah, is a must-attend.
In this blog, we will go over our PNC marketing strategy in detail. Let’s start by learning about the company’s history, target audience, and digital presence before we dive in.
About PNC – Company Overview
With the mergers between predecessor companies Pittsburgh National Corporation and Provident National Corporation the name came PNC is an American Multinational bank holding company and financial services headquartered in Pittsburgh, Pennsylvania, the U.S. It has a proud heritage of more than 176 years old and 40 years old as PNC, it is among the top 10 big banks in the United States, and the largest banking group in Pittsburgh, Pennsylvania region.
Over 50 million private clients are served with wealth and asset management services by the financial institute, which employs over 62,000 people globally. PNC serves consumer and business banking services via 2,945 branches throughout its operations in 27 states of the United States. PNC Asset Management Group, in addition to financial services, provides loan services.
|CEO||William S. Demchak|
|Industry||Banking and Financial Services|
|Market Share/ Revenue||$5.725 Billion|
|Vision||Services and Experiences that fulfil our customers’ financial needs and goals|
|Tagline||PNC Grow Up Great|
Marketing Strategy of PNC
Let’s learn about the marketing strategy of PNC! And how PNC carries the marketing campaign etc
Segmentation, Targeting, and Positioning
Individuals and small businesses, corporations, and government entities are needed for wealth and asset management, and corporate finance these services are provided by PNC in this segment
They mainly target Companies and Government entities and leading Turnkey Asset Management programs and processing businesses. also, New entrepreneurs, creators businesses, enterprises and small businesses for this PNC provide their facilities
A bank offers a wide range of financial services for all customers, from individuals and small businesses to corporations and government entities the bank also positions on their services and experiences that fulfil customers’ financial needs
LGBTQ Equality: For the past year, The recognition that PNC has been received as one of the “Best Places to Work for LGBTQ Equality” by the Human Rights Campaign (HRC). It is a distinction rooted in the bank’s longtime work with HRC that has resulted in inclusive policies, as well as its own commitment to providing a fair and justified environment for members of the LGBTQ+ community.
Plans to market Low Cash Mode through 2021, with the campaign kicking off in the May time frame, dovetailing with new geography and customers. The $11.6 billion acquisition of BBVA is expected to close in the third quarter, extending PNC’s footprint from coast to coast. BBVA’s branches in Alabama, span Texas, Arizona, Florida, California, Colorado, Florida, and New Mexico.
Van Bank: PNC Bank’s first mobile van branch in Baltimore may be small in size, but executives hope it will make a big difference in helping the bank reach potential customers in unbanked and underserved communities.
The 30-foot mobile unit hit the streets last week, debuting outside of the Our Daily Bread Employment Centre in Baltimore’s Penn-Fallsway neighbourhood. Baltimore is the third city in which PNC has deployed a mobile branch, following Chicago in 2020 and Detroit last year.
Population: PNC is working to make inclusive for our Hispanic customers and services more accessible — In Eastern markets one of the fastest-growing population groups,” said Matthew Carter, PNC senior vice president, Strategic Marketing and Brand Management. “We expect the Hispanic population to grow four times faster than the total population in our service area over the next five years, so it is important for us to in a culturally sensitive way reach these customers.”
Social Media Marketing
PNC is active on Social Media like Instagram, LinkedIn, and Facebook. It has maximum followers on Facebook and Linkedin and at last Twitter and Instagram. LinkedIn and Facebook have a range of followers around 342k to 235k; they are the most followed and active on this platform. Instagram and Twitter have around 25k to 36k followers and at the last youtube and Pinterest have around 3k to 6k followers. They mostly post contain informational and promotional content
As per the ranking of SEO, it is said that the number of keywords – below 500 is bad, above 1000 is good, and 10,000+ is amazing as we can see that 583,509 organic keywords it’s considered good That means the digital marketing of PNC is gaining a good number of audience.
Also, the traffic per month is around 10M+ this is known as excellent hence, PNC does excellent work on their SEO strategies while they working hard to score google organic result
PNC collaborates with athlete Scott Dixon and many celebrities and events for marketing purposes. Also, various social media platforms and tv channels provide sponsorships. The bank-run Human Rights Campaign on Facebook and Instagram. They do not focus on small influencers.
When talking about the E-commerce strategies of PNC they do have a website, and you can also open a bank account online. On their website, they discuss in detail the products and services they offer in the Private, Corporate, and Investment banking sectors along with various reference material a user would need to make his decision.
They also talk about their Corporate Social Responsibility like how they are contributing to sustainability and what we as responsible people can do to keep our environment unpolluted and clean.
PNC has a ‘Smart Buy’ option on its website through which a person can compare and book flight tickets, bus tickets, train tickets, and hotel bookings.
Pnc has a mobile app with a 4.7 rating on the play store and is also available in the apple app store. As another banking app, we can use all of the services in the PNC app to manage our card, access our atm without a card, and send and receive money. Users like the app and its interface. because of this, they write positive reviews for the app
Content Marketing Strategies
PNC is very active on all social media handles the content is mostly related to information promotion awareness messages and also posting on social or public days. The source of posting content through mainly Facebook and Instagram and also the press releases about their services via such as finance, yahoo, 7news, Forbes, etc.
This ends the elaborative marketing strategy of PNC. Let us conclude our learning below from the marketing strategy of PNC.
Conclusion – What’s Unique with PNC Marketing Strategy?
PNC, as we know it, is a bank that continues to run numerous campaigns to keep the public interested. Especially considering how well-liked it is with young people. To sustain its long-term growth, the Group must be represented in every major link in the value chain. This will enable PNC to defend its position against other major market competitors.
Today, digital marketing is the heartbeat of an organisation’s marketing efforts and the one which can stay ahead of its competitors through using innovative digital marketing strategies is the one that leads the industry.
Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.
Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing.
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