9 Bank Marketing Ideas for 2016

Creative Evangelist at HyperDrive Interactive I FanMail Marketing I Founder, Brill Creative

I was recently asked by Marissa Wilson of Enplug to give my thoughts on marketing for the financial industry in 2016. Below is my response. At the bottom is a link to the full article with what myself and a couple of other industry leaders had to say.

 

“For marketers in the financial industry, embracing new technology can be an uphill challenge. With legal and compliance chiming in and an overall mistrust of banks within the general public, it isn’t easy.

Instead of worrying about checking off their social media to-do list, or jumping on board with the latest and greatest technology, banks need to leverage their data to better understand and serve their existing client base.

We see an incredible opportunity for banks to deliver much more personalized, relevant and timely messages to their current customers. We often get so excited about using technology that we forget about the human beings on the other end. Better to understand and nurture what you have than always be looking for more.”  — Dan Brill, Creative Evangelist

 

Read Marissa’s full blog post here

 

iPad Hits 1 Mil. Sales Mark in a Month

The iPhone took twice as long to reach the same milestone

May 5, 2010 – Antony Bruno, Billboard

For those wondering if the iPad would take off the way the iPhone did, Apple answered that question by revealing that it has sold 1 million iPads in less than a month.

By way of comparison, the iPhone took twice as long to reach the same milestone. And if you’re thinking these sales are merely indicative of only the Apple faithful buying up their new toys, two new developments point to additional sales success in the coming months.

First is the introduction Friday of the iPad 3G, which features both WiFi and wireless access to the AT&T network. It’s not clear how many of the 1 million iPads sold were for the initial WiFi-only verion and how many were for the iPad 3G. While more expensive, many fans have indicated their intent to wait for the more versatile iPad 3G before pulling out their wallets. Piper Jaffray analyst Gene Munster this morning estimated that Apple sold 300,000 iPad 3G devices this weekend.

Additionally, the 1 million sales are domestic only. Apple will begin shipping the iPad internationally later this month, opening multiple new markets for new sales.

Apple also said that more iPad users have downloaded more than 12 million apps for the device since it went on sale, and more than 5,000 apps have been created specifically for the iPad. Apple didn’t say how many were paid and how many were free. It also didn’t break out how many of the 12 million downloads were iPad-specific apps or those created for the iPhone which can also run on the iPad.

iPad Nation: Why marketers need to lay back and take notice

May 4, 2010 -By Ilana Bryant

The cultural hysteria around Apple’s new iPad has left many marketers wondering whether it really is a breakthrough platform or just a new flavor of Apple Kool-Aid. I suggest marketers sit up — or lean back or lie down or get in whatever position is best for using this titanium tablet — and take notice.

iPad sales hit 1 million in a third the time it took the iPhone, according to Apple. It works in more usage contexts than PCs, laptops and smartphones, and it will take companies where other technologies can’t go. It brings a brand into every room in the house in a larger, more consumable format, enabling people to relax with it on the sofa and use it lying in bed. And the potential for a 3G-enabled iPad outside the home is huge. (A harbinger is the current success of the Star Walk app that lets the user put the iPad up towards the sky and be an amateur astronomer.) I’m personally looking forward to outdoor iPad opportunities for auto, travel, and home and garden brands.

As far as it being a mobile-entertainment platform, it’s better for viewing content than laptops, reading devices or smartphones. Its larger screen and clever, wide-viewing angle feature ensure good views of the images even when the tablet is held sideways.

And TV advertisers, take note: Recent qualitative research from PHD among iPad owners indicates the iPad TV experience is so good that many respondents forecast it will replace the second and third TV in their homes and, possibly, their primary TV sets. ABC’s TV app, which offers free access to the network’s shows in exchange for users watching five traditional 30-second ads per hour, generated millions of ad impressions in the first 10 days of the iPad launch.

Additionally, the iPad can create stronger emotional experiences than a smaller screen — an obvious plus for brands. Removing the mouse brings the brand experience closer to the user, and the screen’s size means we’ve moved from widgets to truly sensory experiences. Both consumer and neurological research shows that being able to interact with brands through sight and sound experiences can result in stronger emotional connections, brand associations and memory recall.

Pampers leveraged this interaction with “Hello Baby,” its app designed especially for the premiere of iPad, which allows pre-natal moms to experience their baby’s changes week-by-week with simulated life-size, 3-D images and baby sounds.

The iPad’s cinematic, touch-screen experience is also game changing. People, for instance, are buzzing about the app Elements: Visual Exploration (an interactive look at the periodical table) because of its visually breathtaking approach to the normally mundane table. Imagine the potential of this device for the visuals in print magazines. The iPad also has a willing audience of e-readers waiting. According to a CNET poll taken last week, 20 percent of iPad owners bought it for the primary purpose of reading books and magazines.

Additionally, the tablet offers a unique platform for social interaction with a brand. If you have wrestled with others to view pictures, videos or text on iPhone handsets, you know the benefits of the iPad screen. It’s also great, of course, for movies and board games. I think we’ll see a lot of multiple-user games taking off.

The iPad, which is more like an appliance than a computer, also reaches less tech-savvy audiences with high-technology capabilities. Its menu of apps is simple to use, and there are no folders so you don’t have to worry about where you save stuff and where you install it. Once the iPad goes mainstream, it will be a perfect platform for older consumers.

We know that the iPhone interface has resulted in much greater Internet use than other smartphones. And it’s clear in its first month out that the iPad has had the same impact. According to Web metrics firm NetApplications, the approximately 500,000 iPad users have a larger Internet consumption — in terms of percentage of Web traffic terms — than 30 million-plus BlackBerry users over the same period.

There’s also the product lust it inspires — for itself — which will generate more usage and thus more marketing possibilities. It’s a beautiful device that inspires the visceral reaction, “I have to have one.” Just as the phonograph was originally invented as a telegraph recording device (a relatively vertical audience) and was quickly adopted as a music recording device, and Twitter evolved from being a tool for social updates to a social organizing tool, so the iPad will likely be embraced by users who will find additional applications for it.

The launch of Apple’s iAd service that allows app developers to create advertising experiences within applications also means there’s the potential to develop new kinds of in-app ad formats.

To put it simply: the iPad is a solution waiting for a problem. And when marketers start figuring out what problems the iPad can solve for them, things will really get interesting.

Ilana Bryant is chief strategy officer at StrawberryFrog. She can be reached at Ilana@StrawberryFrog.com.

Opinion: Print Is Dying … Really?

At a time when magazines are everyone’s whipping boy, Graydon Carter offers evidence to the contrary.

March 28, 2010 -By Graydon Carter

At a time when magazines are everyone’s whipping boy, Graydon Carter offers evidence to the contrary. It’s not for nothing that he has the distinction of being the only editor to be named AdweekMedia’s editor of the year twice (1997, 2003), while Vanity Fair has been on the Hot List nine times. The Conde Nast monthly is widely regarded as one of the best magazines around. So we asked Carter: What does the future hold for magazines? Here’s his answer.

It’s become fashionable to proclaim that print is dying, as if a medium that has been around for more than five centuries might, like a guest who has overstayed his welcome, suddenly glance about the room, see his hostess nodding off in her chair, and realize it’s time to call it a night. I have my doubts about the all-encompassing scope of the so-called digital revolution, but as the father of five children, I can certainly see what all the fuss is about. Kids have a zillion ways of finding out just about anything they want, when they want, but the smart ones—historically, the magazine subscribers of the future—still read. The reading business is not the same as the search-and-find business, and if you’re in the print version of the latter, on either a daily or a weekly basis, you have reason to be anxious. The rest of us have a fair chance to survive and perhaps even thrive.

Read more…

4A's: 'Wired' Chief Says iPad Will Rescue Magazines

His popular tech-focused title looks to launch tablet version in May
March 2, 2010 – Jim Cooper, Mediaweek

Chris Anderson has seen the future of magazines — and it’s on a tablet.

In an address at the American Association of Advertising Agencies’ Transformation Conference in San Francisco today, Anderson, the editor-in-chief of Wired, extolled the possibilities for the magazine industry via Apple’s iPad and other future tablet-computer platforms.

Wired staffers have been working to create a tablet version of the title for six months, with the goal of having it ready in May.

“We’ve been looking for a way to do it better, and the good news is that I think we found it,” said Anderson.

Presently, online versions of magazines lose “the coherence and majesty of the [printed] medium,” said Anderson. Tablets, on the other hand, offer impressive functionality, such as 360-degree views and iPhone-like screen sliding, plus collapsing and layering — all of which make the user experience vastly more compelling than the Web, he said.

Additionally, the success of the iPhone, Kindle and the emergence of cloud computing have paved the way for devices that are less powerful and lighter with a longer battery life than standard laptops, Anderson said. The iPad is just such a device, and it will sell millions of units in its first month and tens of millions in the following months and years, he predicted.

“It will take less than 10 years for it to become mainstream,” he said.

Also revolutionary from an editorial and design perspective is that magazine staffers — now editing for print and the Web in separate work flows — will be able to edit for print and tablets simultaneously.

Since Wired in particular — and parent Conde Nast in general — did not lose readers during the 2009 recession, Anderson has concluded that magazines don’t have a product problem, but a business problem.

Enter the tablet.

Anderson predicted that these devices will move past the CPM model to become the most measurable medium ever.

“The tablet will be measuring what you did on a page, what engaged you,” he said. Marketers will know “what entices people to put their fingers on the screen” — and the layered functionality seen in the editorial product will also be part of the advertising, he added.

As for readership, Anderson said that tablet renderings of traditional magazines will draw consumers who weren’t magazine readers before.

“This is a better vehicle for customer relationships. It’s not a distribution platform, but a presentation platform,” he said. It will “meet the Google Generation where they live.”

As for how magazines will control the relationship with customers in their partnership with Apple — and the prospects of a paid iPad model — he basically told the audience that there are still issues that remain unresolved.

“We have many questions,” he said.

Throughout his address, Anderson referred briefly to his notes on a decidedly old school legal pad. He pledged he’d return next year with his iPad.

4 Prep for YellowPages Final Client could spend $50 mil. on ads this year

Feb 18, 2010 – Andrew McMains

Four agencies are preparing for final presentations in a review of creative duties on AT&T’s YellowPages.com, sources said.

Sources identified the shops as MDC Partners’ Crispin Porter + Bogusky in Miami, and independents Mother in New York, Butler, Shine, Stern & Partners in Sausalito, Calif., and Venables Bell & Partners in San Francisco.

Client executives briefed the shops today. Work sessions also are planned before the agencies make final pitches in April, according to sources.

Past major media spending on the brand has hovered around $20 million annually, though the total dipped below $1 million in the first 11 months of 2009, according to Nielsen.

This year, however, the client may spend as much as $50 million to tout a re-launch of the Web search site, said a source. The winning agency will develop a major campaign designed to get consumers to use the site more and for different reasons, the source added.

Media duties are not in play and remain at WPP Group’s Mediaedge:cia in New York.

The incumbent, Omnicom Group’s GSD&M Idea City in Austin, Texas, opted not to defend. GSD&M, which has handled creative duties on the brand since 2005, declined to comment. The shop’s most recent work used the tagline, “Need something?”

A New York-based consultancy, Source Martin, is said to be managing the search. Source Martin did not return calls and the Glendale, Calif.-based client could not immediately be reached.

Gauging Customer Loyalty

Consumers approve of rewards programs … sort of
Feb 16, 2010 – Mark Dolliver

Getting new customers is expensive, which is why sensible marketers toil to keep the ones they’ve already got — and to get them buying as often as possible. As such, loyalty programs have become a conspicuous part of the marketing landscape. But how do consumers feel about such programs? A recently released survey by the Chief Marketing Officer (CMO) Council takes a close look.

The polling finds consumers exhibiting a kind of “yes, but” attitude toward loyalty and rewards programs. Sixty-nine percent of respondents said most of their own experience with such programs has been “pretty good,” and 10 percent said they’ve been “very satisfied.” Half said a program membership either “strongly motivates my repeat business or visits” (21 percent) or is “usually a big factor in my decision making” (30 percent). But, the report has less favorable news as well: “In fact, 32 percent of respondents felt that program participation held little to no value while 37 percent felt individual rewards had even less to offer by way of value.”

Read more…

US Interactive Marketing Forecast, 2009-2014 (Forrester Research)

Overview :
Interactive marketing will near $55 billion and represent 21% of all marketing spend in 2014 as marketers shift dollars away from traditional media and toward search marketing, display advertising, email marketing, social media, and mobile marketing. This cannibalization of traditional media will bring about a decline in overall advertising budgets, death to obsolete agencies, a publisher awakening, and a new identity for Yahoo!. Forrester Research surveyed marketing executives across multiple industries from firms with more than 200 employees about their current and planned interactive marketing budgets and identified the factors influencing their interactive planning. Shar VanBoskirk, Vice President at Forrester Research, explains the factors behind the decline in traditional marketing and shows the reasons why current marketing professionals are investing in interactive marketing efforts.

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The Tweet Hereafter

Just how effective is Twitter as a marketing tool? Some brands sing its praises, others think the service has whistled its last tune…
Feb 7, 2010 – Todd Wasserman, Brandweek

If you’re a marketer who has steered clear of Twitter, your (non)strategy may be paying off! It’s possible that this Twitter thing may just take care of itself.

In the middle of last year, Twitter’s growth slowed from 7.8 million new users a month to 6.2 million, according to a recent study from RJ Metrics. That report also found that only 17 percent of Twitter users updated their accounts in December — an all-time low. An earlier study by the Nielsen Co. revealed 60 percent of Twitter users do not return from one month to the next. Taking that into account, it’s tempting to conclude that Twitter is following in the footsteps of another social-media ghost town, Second Life.

… read more

Main Street Over Megabits

For the federal broadband plan to click, it must focus on domestic economic and
social concerns

Feb 1, 2010 – By Stuart N. Brotman

The Federal Communications Commission has been working 24/7 to craft a national broadband plan that it will present to Congress by mid-March.

This plan is mandated by the American Recovery and Reinvestment Act and is the first U.S. effort to develop a comprehensive approach for Americans to obtain “universal broadband access,” as President Barack Obama termed it when he traveled the campaign trail prior to his election.

Although the FCC already has conducted 31 separate proceedings seeking public input from a wide range of individuals and organizations, it remains unclear whether the national broadband plan will deliver on the promise of being a 21st century version of the historic 1950s plan our nation developed successfully for the interstate highway system.

Unfortunately, too much focus so far has been on increasing the speed of broadband in the U.S. so that our rankings in the world on this measure move closer to the top. Currently, according to the Organization for Economic Co-operation and Development, the United States is 18th out of 30 developed countries in broadband speed. Our average download rate, based on an analysis by the Information Technology and Innovation Foundation, is a mere 4.8 megabits per second, paling in comparison to countries such as France (18 megabits per second) and Japan (61 megabits per second).

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