Gen-M: the abandonment of “touch and feel” and the emergence of “see and hear”

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Baby Boomers and Gen-X have in common the need to experience life in all it’s glory. Whether that is born out of a sense of adventure, the need for tactile feedback or in the sense of face-to-face social connections, at the core of much of our buying behavior historically has been the need to ‘touch [...]

What will it take to restore trust in the banking system?

NRock_Runonthebank

I grew up in a world where a run on the ‘bank’ was never realistically going to happen. I grew up in a world where when someone wished to declare the truthfulness of their assertion they’d simply say “you can take that to the bank” or when it was a sure thing they’d say “you [...]

Your online marketing and website don’t work…

There’s generally a very poor understanding of the dynamics of the role of the website in retail financial services interactions today. There is an acceptance that ‘some’ customers use the web, when deciding on a new financial services relationship, but not of the critical nature of the web in that choice. Let me explain how [...]

Google Wallet is not about Payments

Last week Google announced their long awaited NFC-trial for mobile payments. On the face of it, many perceive that Google’s play is an attempt to cannibalize the lucrative payments market, but if that was the case, why has Google not taken a share of interchange fees from Citi and Mastercard? In addition, Google is supplying contactless point-of-sale units [...]

I’ve got Facebook friends and Twitter followers – reward me!

Ashton Kutcher was famous for being the first celebrity to exceed 1 million followers on Twitter (now 5.8m), the famous Zuck has over 850,000 friends on his Facebook fan page, but this is not your average social media profile. The profile of your average Facebook user shows typically some 130 friends (source:Facebook), and the average Twitter user has 126 followers. To exceed say 1,000 or 5,000 friends an individual normally has to have something special. It may be the fact that they were amongst the earliest adopters and have been active since day one, it may be that they are super-connected individuals in real-life, or it may be that they have a following due to some celebrity or claim to fame. The thing is, in marketing terms, friends and followers mean reach. So, is there a way to connect social media ‘credit’ in terms of following, and reward an individual for it?

The BIG SHIFT to online for financial products: Google Finance research

At their annual ThinkBanking event last Thursday (Sept 9th) in Sydney, Google Finance released their latest behavioral research supported by Global Reviews’ Customer Experience Benchmarking. The results are a shock to those expecting traditional marketing methods to strongly influence customer behavior in respect to product selection in the financial services space…

What is in a Twitter name? That which we call a customer…

Why is it that today that there are many banks who won’t let me open an account unless I have a home telephone number (a landline) – which quite frankly I haven’t used for a number of years now (in fact I don’t even know my home phone number) – and yet in respect to mechanisms which I use a whole lot more frequently than a home telephone number for communication, namely FB and Twitter, they completely ignore me? I have to say these days I’d probably be a whole lot more likely to talk about my bank on Twitter, than I would wait for their call on my home telephone number, which I don’t use…

BANK 2.0: Mobile AdServing or Mobile Offer Management?

With the massive activity in the mobile Ad space arena at the moment, I’m amazed that there is so little focus on this by Bank marketing teams.  It shows a level of ignorance that is staggering.

But it’s just yet more evidence that the shift from broadcast advertising, to well targeted, well positioned, personalized offers is a massive challenge for bank marketing departments.

Whatever the case – mobile, targeted offer management is a core skill for banks today – one that is generally completely absent from bank marketing departments. How do you know if as a bank you are ready for mobile? If you are asking your agency to run a campaign from their own list or database or you are trying to retrofit your currently monthly campaign onto SMS, that’s a bad sign…

Digital versus Traditional Advertising? Wrong Question

There is a debate that has been raging in Advertising quarters for almost a decade now – which is better Digital Media or Traditional Advertising. The fact that this question is being asked at all shows that most advertisers and institutions don’t get consumer behavior in the interconnected world. Considering that agencies are in advertising, you’d think they would get it right? Considering the declining ROI in traditional marketing approaches, you’d think marketing staffers would get it too right?