UOB Insightful Marketing Strategy -2023 - IIDE (2023)

We looked in detail in the previous articleMarketing strategy of AU Bank.

In this blog, we will elaborate the marketing strategy of UOB (United Overseas Bank) - aA Singaporean multinational banking company headquartered in Singapore, with branches mostly spread across most Southeast Asian countries.

The purpose of this article is to provide you with information about the various financial services offered by UOB through its global network of branches, offices, subsidiaries and associates, including personal financial services, private banking, business and corporate banking, investment banking, corporate financing, capital market activities, treasury services and intermediation in promissory notes.

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In this study we will consider the marketing strategy of UOB along with their other marketing techniques. So let's start!

Om United Overseas Bank (UOB)

Source – Logo Download

United Overseas Bank Limited, also known as UOB, is a global financial organization headquartered in Singapore with offices mainly in Southeast Asian countries.

Ng Keng Keong, a businessman from Sarawak, founded a bank in 1935 under the name United Chinese Bank (UCB) together with some other Chinese businessmen. The bank ranks third in Southeast Asia in terms of total assets.

UOB opened its first branch in Mumbai in December 2009 and provides retail and wholesale banking services to businesses, corporates and consumers, including loans, treasury and trade finance products.

In addition to personal, commercial and corporate banking, UOB also offers private banking, wealth management, corporate finance, venture capital, investment and insurance services. The company has 68 branches in Singapore and more than 500 offices in 19 countries in Western Europe, North America and Asia Pacific.

UOB quick statistics

UOB marketing strategy –

Let's start UOB's marketing strategy with an STP analysis.

Segmentation, targeting and targeting

The process of dividing the target market into available segments is called segmentation.

In order to better understand the target audience, market segmentation divides the market into subgroups based on demographics, needs, priorities, similar interests, and other psychographic or behavioral characteristics.

Global Markets, Group Wholesale Banking and Group Retail Banking are the three main business units of UOB, which together provide a wide range of financial services to clients around the world.

Select potential customers to whom the company wants to sell goods or services.

Segmenting the market, selecting the most relevant segment, and identifying the products to be offered in each category are necessary steps in the targeting method.

UOB's target market is focused on expanding its leading position in the region as well as in Singapore with targeted customers and products.

Positioning is essential to achieve a competitive advantage in the market.

Thanks to their Asian network and strong in-country skills, they are able to provide financial solutions that help clients manage their current and future needs, whether simple or complex.

UOB marketing campaign

Singapore-based United Overseas Bank, 80 years old, is launching a major regional advertising campaign.

In a press release issued today, the company also unveiled a revised version of its logo that removes the original Chinese characters.

The new motto is "Right by you", an attempt to portray a bank built on the "timeless ideal" of acting in the interest of its stakeholders.

To celebrate UOB's 80th anniversary, we recreated its opening day ad as the cover of The Straits Times from 1935, complete with the original mast from 1935, taking viewers back 80 years.

marketing on social networks

Generation Z understands how important "likes", "follows", "comments" and "shares" are to business growth. But even without the social media network, UOB is still impressive.

• Facebook followers: 2,247,177
• Instagram followers: 29k
• LinkedIn followers: 3,73,879

search engine optimization strategy

Source – Ubersuggest

According to SEO standards, organic keywords below or around 500 are bad, above 1,000 are good, and above 10,000 are great. As we can see, UOB has over 45K organic keywords which is amazing.

Having more than 20,000 monthly visits is also impressive and UOB is impressive with more than 259,000 monthly visits.

E-commerce strategy

UOB has a website where you can access all the services it offers.

With the growing popularity of online shopping and consumption, it is crucial for brick-and-mortar businesses to establish an online presence and explore new distribution channels.

In addition, the Singapore government actively encouraged small businesses to establish an online presence as they focused on the country's economic recovery during the shutdown phase.

influencer marketing

Influencer marketing is essential for spreading your brand on social media, but it also has other uses.

UOB does not implement influencer marketing strategies, but if it does, the marketing techniques will help from rebranding to changing consumer perception of the company. Banks can also partner with influencers in the market for new services.

Financial institutions can use influencer marketing to understand how their target audience perceives them. The easiest way to find this information is to analyze the feedback you receive from your posts.

There are many creative ways to stand out on social media using bank influencers.

Mobile application

The comprehensive UOB TMRW banking app was created with you and your business in mind. It offers AI-powered insights, personalized Rewards+ rewards for individuals and easy investing with SimpleInvest.

No matter when or where, simply optimize the app for the perfect banking experience.

The app has a 4.6 rating and 10L+ downloads on the Play Store.

content marketing strategies

Multinational bank United Overseas Bank (UOB) is using artificial intelligence and machine intelligence to deliver a content strategy for SMEs targeting audiences across five regions in Southeast Asia.

This brings us to the conclusion of the UOB marketing strategy.

Conclusion - What is unique about UOB's marketing strategy?

Through an understanding of our products and markets and a commitment to always behave ethically, UOB strives to build lasting relationships with its customers.

Today, UOB has a strong global presence, particularly in Asia, where few companies can match its expertise in Asian markets, corporate culture and business thinking.

Its strong presence in Singapore, Malaysia, Indonesia, Thailand and China puts each of them in a good position for greater consumer access and regional expansion.

As competition intensifies in crowded industries such as banking, companies must win over customers by intensifying marketing campaigns.

In today's dynamic environment, it is imperative for all marketing enthusiasts to be well versed in digital marketing as it is of utmost importance.

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Thanks for reading and feel free to comment below on what you think about UOB's marketing strategy.