In Ghana, banks like Ecobank have digitized marketing post-2019 cleanup, but without plans, they risk inefficiencies per BoG’s governance directives. Here are five challenges, with practical insights.

1. Inconsistent Branding and Messaging (4 Marks): Without a plan, campaigns across platforms (e.g., social media, emails) may vary, confusing customers and diluting brand trust, as seen in some banks’ haphazard post-DDEP promotions.
2. Inefficient Resource Allocation (4 Marks): Budgets may be wasted on untargeted ads, leading to high costs without ROI, violating cost-benefit principles in BoG’s CRD and impacting profitability amid recapitalization.
3. Poor Customer Targeting and Engagement (4 Marks): Lack of strategy results in irrelevant content, reducing conversion rates; for instance, GCB Bank’s early digital efforts struggled without data-driven targeting, affecting customer retention.
4. Compliance and Regulatory Risks (4 Marks): Unplanned digital ads might breach advertising standards or data privacy under Act 987, inviting BoG fines, similar to issues in fintech marketing oversights.
5. Measurement and Analytics Gaps (4 Marks): Without KPIs, banks can’t assess campaign success, hindering improvements and strategic alignment with Basel risk management, leading to repeated errors in competitive landscapes.