摘要
摘要
我国证券市场形成三十年来，证券经纪业务始终是证券公司的核心业务，
证券经纪业务市场份额可以反映出券商现阶段在行业内的竞争力和未来财富转
型的潜力。然而，随着金融市场的放开和技术手段的日趋成熟，证券市场竞争
越来越激烈，不少新进券商为了抢夺市场份额频频推出“低佣”甚至“零佣”
吸引客户，引发各大券商纷纷降佣保住存量客户，经纪业务利润受到严重影响，
证券经纪业务发展整体下行。对于那些严重依赖经纪业务、业务结构单一的券
商来说，面临的环境尤为严峻。
本文选取了在证券经纪业务中极具有代表性的互联网券商 D 证券作为研究
对象，通过调查研究与分析，为 D 证券经纪业务发展提供新思路。首先，通过
访谈法和问卷调查法了解到 D 证券在目前的经纪业务中存在有缺少投顾产品和
核心产品、佣金收费乱、渠道结构失衡以及宣传力量薄弱等问题。其次采用PEST
分析、波特五力模型以及SWOT分析对D证券所处的内外部环境进行分析，然后
在服务营销理论和生命周期理论的基础上提出：（1）要基于不同客户周期提供
不同产品；（2）制定统一的佣金率标准并对产品弹性定价；（3）拓宽外部渠
道，调整内部客户归属；（4）制定奖励机制去推动促销；（5）优化人员结构；
（6）从员工着装和现场环境去优化有形展示；（7）提高经纪人专业素质，制
定经纪人维护奖励机制。最后提出现阶段发展 D 证券经纪业务要人才、技术和
风险三个角度出发做好营销保障措施。
本文通过研究 D 证券的经纪业务，既为 D 证券提供了现阶段行之有效的营
销策略，也为同行中的互联网券商提供了一定的借鉴与参考。
关键词：证券经纪业务；互联网券商；营销策略
I
Abstract
Abstract
In the process of the development of China's securities market,securities brokerage
business has always beenthe core business for 30 years. Themarket share of
securities brokerage business can reflect the industrial competitiveness of securities
companies
at
the
present
stage
and
the
potential
of
future
wealth
transformation.However,withtheliberalizationoffinancialmarketsandthe
increasing maturity of technology,the securities market competition is increasingly
fierce. To grab market share,many new brokers have launched "low commission" or
even "zero commission" to attract customers,which causes the big brokers lowering
commission to keepthe inventory customers.As a result,thebrokerage business
profits are seriously affected and the development of securities brokerage business is
entering a downturn. The condition is particularly tough for firms that rely heavily on
securities brokerage business and operate in a single business structure.
In this paper, D Securities, a very representative Internet brokerage in the securities
brokerage business, is selected as the research object.Through investigation, research
and analysis, new ideas are provided for the development of D securities brokerage
business. First of all, through interviews and questionnaires, we learned that in the
current brokerage business of D Securities, there are some problems, such as lack of
investment products and core products, chaotic commission fees, unbalanced channel
structure and weak publicity power.Then we use PEST analysis, Porter's five forces
model and SWOT analysis to analyze the internal and external environment of D
securities. Then on the basis of Service marketing theory and life cycle theory, we
propose to provide different products based on different customer cycles and establish
a unified commission rate standardand flexible pricing of products. Expanding
externalchannelsandadjustinginternalcustomerattributionissupported.
Developingarewardmechanismto promotepromotion.Optimizingpersonnel
structure.Optimizingtangibledisplaybasedonemployeedressandon-site
environment.Improving the professional quality of brokers and formulate a reward
mechanism for broker maintenance.Finally, it is proposed that the development of D
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