Build your audience, not brand recall

Mobile Ad Spend Explosion!

Revenue is the driver of business, and most businesses for the longest time have been accustomed to building a pipeline of business, targeting specific demographics or segments of customers, or raising brand awareness so as to generate interest in products or services. Recently, however, a subtle shift to consumer engagement has made itself evident, one [...]

Social Media (SoMe) – What comes next is even more disruptive

Four More Tweets? The biggest tweet of 2012

Last year Facebook hit 1 Billion users. It is reported that the average Facebook user spends 75 minutes per day using Facebook. Mobile use has also increased significantly over the last two years. Globally smartphone growth year-on-year was at 42% in 2012, with 17% global penetration, but more significantly with most developed economies expecting 70-80% [...]

Would SOPA/PIPA kill Internet Banking?

The PROTECT IP Act (Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act of 2011), is a proposed law with the stated goal of giving the US government and copyright holders additional tools to curb access to “rogue websites dedicated to infringing or counterfeit goods”, especially those registered outside the U.S. [...]

Private Banking 2.0

Since the emergence of online banking there has been a fundamental assertion from high-net-worth bankers that their clients aren’t digitally focused, they don’t use social media or mobile banking, and that they prefer to pick up the phone and engage their banker because the nature of their interactions is defined by their wealth – they [...]

The new customer interface: Visualization and Digital Relationship

At Finovate Europe last week we saw a lot of what I would generally classify as “me too” PFM efforts. While there were a few stand out examples, such as Meniga and Linxo, I don’t think these platforms are robust enough for where we are going. This says a lot I know, because most banks [...]

What the Finance sector has to look forward to in 2011…

In 2010 we had a bunch of innovative ideas become mainstream and start to impact the banking arena (for a full coverage see my post in Huffington.) However, 2011 promises to be more disruptive because as the economy finally starts to warm up, we’ll be seeing a lot of new private equity investment into start-ups [...]

What Wikileaks means for the finance sector…

The major news feeds of the world are buzzing with the arrest of Wikileaks founder Julian Assange in London today. Assange was arrested based on an extradition request from the Swedish government, issued last week. Swedish authorities had issued the warrant for Assange so they can talk to him about sex-crime allegations supposedly unrelated to [...]

The 5 Stages of Social Media Grief

Social Media’s growth is electric, but most banking executives don’t have the first clue about this new phenomenon. Indeed, most banks still don’t have a senior executive in charge of social media. They are 3-4 years behind. So why is that?

There are 5 stages of Social Media Grief – and banks will get more grief unless they learn to deal with growth in new channels, engagement methods and customer behavior much more aggressively.

Let me tell you about the Social Media BOOM!

Is Customer Experience innovation too hard for UK banks?

When you read a definition of Customer Experience you invariably will see two elements – the lifetime experience of the customer, and the total experience of the customer day to day as he engages in transactions with the provider of the goods or services he is utilizing. In meeting continuously with UK banks over the last two weeks I find an almost unhealthy obsession with branch experience as the be all and end all of the customer experience challenge. It is as if a poor customer experience across any other channel can be solved simply by a customer walking into a branch having a great service experience. I just don’t buy that.

Branch Networks: Where do we go from here – Part 2

In my recent discussions on branches I got some reader feedback that some have apparently interpreted my positive reporting of the effectiveness of direct channels as evidence that I am ‘against’ branches. This is not the case. However, I do think that branch networks are currently in a precarious situation and bank’s might find themselves saddled with a costly anachronism if they don’t anticipate where the customer behavioral shift will take branch networks in the very near future. There is hope – but it will take a determination to revisit what branch networks really do for us…