quick fixing mobile (no, really) - financial e-marketing forum
DESCRIPTION
Mobile in the banking context, mobile marketing and a case study of how SpareBank 1 quick fixed mobile without doing a complete reveamp of their website. Held at the 2nd Annual Financial e-Marketing Forum in 25th September in Amsterdam (Title inspired by Scot McKee's brilliant book Createive B2B Branding (no, really))TRANSCRIPT
Quick fixing mobile
Haakon JensenProgram Manager Digital Business DevelopmentSpareBank 1 SMN / SpareBank 1 Alliance
(no, really)
SpareBank 1350 branchesThe second largest financial group in
Norway - in terms of assets - with good profitability (ROE ~12%)
2.523
848578
238 203
Total assets in bn NOK (1 USD = ca 6 NOK)
NORWAY – THE SWEET SPOT FOR DIGITAL DEVELOPMENT?
2000 2005 2011
45% 73% 92%
Internet
2000 2005 2011
17%69% 79%
2000 2005 2011
68% 92% 99%
Online banking Mobile
Penetration Penetration Penetration over 18
1,1 cellphone per norwegian4G in cities
Kilder: Dagligbankundersøkelsen 2011, FNO/TNS Gallup og Post og Teletilsynet
World class penetrationInternet in every household
Feeling when you don’t have your mobile?
73%Panic
14%Desperat
7%Sick
6%Relief
59%Uses mobile every day
71%Searched for service or product on mobile
69%Uses mobile content
Sources: Google, Dagbladet, TNS Gallup, combined by SMN
MOBILEA part of everyday life in Norway
01 MOBILE IN THE BANKING CONTEXTFocus on banking in the mobile channel
02 MOBILE MARKETINGHow to sell banking in the mobile channel
03 CASE STUDY: QUICK FIXING MOBILEWhat did SpareBank 1 do
TECH RELATED CHALLENGES REQUIRE NEW THOUGHTSThe industry struggles to embrace new technology
Technological development
Outdated solutions commit and binds capital
Lack ofdigital competence
Regulatory tsunami
Financial services
Source: KPMG
THE AVERAGE C-SUITE EXECUTIVE…
WE’RE ALL DOING MOBILE – IT’S A NO-BRAINER…
OUR MOBILE BANK: SAME APP, DIFFERENT WRAPPING
Mobile bank is dead- long live the mobile bank
Physical bank
Mobile bank
Online bank
TODAY FUTURE
BANK
SPAREBANK 1 WITH FIRST-MOVER ADVANTAGE
stmover1
2013for children
1stmover
2012for SME’s
1stmover
2010Check balance
1stmover
2011Simple access
PAYBACK TIME…Mobile bank logins reported by Norwegian banks
0.18m
0.85m1.2m
3.9m
+212%
Source: Mobile bank statistics SpareBank 1 mai 2013, Cicero
Nov-11 May-12 Nov-12 May-130
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
Used by 33 % of our customers
Avg. customer uses it 20 times/month
10 % are using only the mobile bank
More satisfied customers!
MOBILE BANKING BIGGER THAN ONLINE BANKINGAt SpareBank 1
Online banking
Mobile banking
So we’re all set for the future then?
Err... no.
01 MOBILE IN THE BANKING CONTEXTFocus on banking in the mobile channel
02 MOBILE MARKETINGHow to sell banking in the mobile channel
03 CASE STUDY: QUICK FIXING MOBILEWhat did SpareBank 1 do
SNAPSHOT CONSUMER BEHAVIOURMobile is of growing importance
Gross TV consumption stable
Rapid growth in internet & mobile consumption
Web-TV & streaming (Netflix) replaces traditional TV in 15-30 segment
Financial services 3rd biggest online purchase category
Demands focus on both traditional & new digital media channels
No obvious substitute channel to TV on
emotional messages
Demands IT investments and changes in internal
processes & mindset
The increasing importance of digital channels leads to increased complexity and changes the centre of our marketing focus
FROM TV TO CONTENT - IS KINGContent through a variety of channels being key to success
• Whom is it for?
• What data do we have on the customer group to make the message relevant?
• How do we say it?
• How do we present it in different channels?
• Continuous tuning and optimalisation on message & channel placement through web-analytics
OUR MESSAGE
FROM BRANCHES TO GOOGLECustomer journey starts online – and often on mobile
FORMER CUSTOMER BEHAVIOUR TODAYS CUSTOMER BEHAVIOUR
78 %do research online prior to purchase of financial services
71 %have conducted a mobile search for a product or a service
51 %have purchased through a computer or a physical outlet after doing a mobile search
Sources: Google Consumer Barometer in collaboration with TNS Gallup and IAB; Boston Consulting Group (2012), Ipsos MediaCT –undersøkelse for Google, 1Q 2012
WE MUST CONSIDER CUSTOMERS AND CONTEXT
BORED NOW REPETITIVE NOW URGENT NOW
VERY MANY WEBSITES ARE MOBILE FRIENDLY…
BUT BANKS? NOT SO MUCH… Some are!
Simple solution:Do a responsive website
Mhm..
Everything technology related in banking is capital intensive
Technology is evolving rapidly
Lack of digital strategic understanding
TO SUM UP THE CHALLENGES FACING MOBILE MARKETING
THE CUSTOMER THE FINANCIAL SERVICE INDUSTRY
Customer journey starts online with the orientation phase: 78 %
do reasearch online pre-purchase
Customers purchase online – both on desktop and mobile
Customers use multiple screens during the purchasing process
01 MOBILE IN THE BANKING CONTEXTFocus on banking in the mobile channel
02 MOBILE MARKETINGHow to sell banking in the mobile channel
03 CASE STUDY: QUICK FIXING MOBILEWhat did SpareBank 1 do
SPAREBANK 1 BEST IN THE BUSINESS ON MOBILE IN NORWAY
OR AT LEAST ON APPS…
Mobile banking larger than online banking
+
No mobile friendly hub enabling market
communications to our customers
-
Many apps but no mobile friendly app repository
-
OUR MOBILE ADS WERE WASTED…
Around 30 % of Norwegian banner ads are mobile
+
Financial services top three most popular search topic on
Googles mobile search
+
Difficult to convert mobile users
-
OUR MOBILE APPROACH WAS BROKEN
No mobile friendly site to communicate with our customers, as of December 2012.
A redesigned responsive website was not percieved feasiable within the next two years.
Looking at mobile growth; could we wait for a complete website redesign?
BRING TO MARKET A MOBILE FRIENDLY SITE – QUICKLYGoals for our new mobile website
Lead generation to call centre1Be accessible on mobile channel for new and existing customers with relevant content visible in search2
Increased distribution of our mobile applications3
TRAFFIC SOURCES Mobile ads Banner in the app Search engines Visitors (web)
LETS NOT DO IT THE WAY WE ALWAYS DO IT-PROJECTS…
TWO DELIVERABLES: MAKE IT SIMPLE
CAMPAIGN LANDING PAGES1
THE MOBILE WEBSITE2
WE CONNECTED OUR MOBILE UNIVERSE
Banner on mobile site
Banner in mobile bank app
Ads
TAKEAWAYS
GO MOBILEGet started with mobile marketing even if you can’t do it all
CONTINIOUS TWEAKINGUtilize the high number of views to always tweak the performance
FROM 360 DEGREES TO 24/7 MARKETINGDifferent devices used throughout the day, make channels complement each other
EXPERIMENT & LEARNThen apply and experiment again
