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Quick fixing mobile (no, really) - Financial e-Marketing Forum

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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. …

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))


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  • 1. Quick fixing mobile (no, really) Haakon Jensen Program Manager Digital Business Development SpareBank 1 SMN / SpareBank 1 Alliance
  • 2. SpareBank 1 The second largest financial group in Norway - in terms of assets - with good profitability (ROE ~12%) Total assets in bn NOK (1 USD = ca 6 NOK) 2.523 848 578 238 203 350 branches
  • 3. NORWAY – THE SWEET SPOT FOR DIGITAL DEVELOPMENT? Internet Online banking Penetration Penetration 45% 2000 73% 2011 Penetration over 18 92% 2005 Mobile Internet in every household 17% 2000 69% 79% 2005 2011 World class penetration Kilder: Dagligbankundersøkelsen 2011, FNO/TNS Gallup og Post og Teletilsynet 68% 2000 92% 99% 2005 2011 1,1 cellphone per norwegian 4G in cities
  • 4. MOBILE A part of everyday life in Norway Feeling when you don’t have your mobile? 73% 14% Panic 71% Searched for service or product on mobile Desperat 7% Sick 59% 6% Relief Uses mobile every day Sources: Google, Dagbladet, TNS Gallup, combined by SMN 69% Uses mobile content
  • 5. 01 MOBILE IN THE BANKING CONTEXT Focus on banking in the mobile channel 02 MOBILE MARKETING How to sell banking in the mobile channel 03 CASE STUDY: QUICK FIXING MOBILE What did SpareBank 1 do
  • 6. TECH RELATED CHALLENGES REQUIRE NEW THOUGHTS The industry struggles to embrace new technology Technological development Regulatory tsunami Financial services Lack of digital competence Source: KPMG Outdated solutions commit and binds capital
  • 7. THE AVERAGE C-SUITE EXECUTIVE…
  • 8. WE’RE ALL DOING MOBILE – IT’S A NO-BRAINER…
  • 9. OUR MOBILE BANK: SAME APP, DIFFERENT WRAPPING
  • 10. Mobile bank is dead - long live the mobile bank TODAY FUTURE Physical bank Mobile bank Online bank BANK
  • 11. SPAREBANK 1 WITH FIRST-MOVER ADVANTAGE 2010 Check balance 1 st mover 2011 Simple access 1 st mover 2012 for SME’s 1 st mover 2013 for children 1 st mover
  • 12. PAYBACK TIME… Mobile bank logins reported by Norwegian banks 3.9m +212% 1.2m 0.85m 0.18m Source: Mobile bank statistics SpareBank 1 mai 2013, Cicero
  • 13. Million logins MOBILE BANKING BIGGER THAN ONLINE BANKING At SpareBank 1 5 4 Online banking  Used by 33 % of our customers 3  Avg. customer uses it 20 times/month 2  10 % are using only the mobile bank 1 Mobile banking  More satisfied customers! 0 Nov-11 May-12 Nov-12 May-13
  • 14. So we’re all set for the future then? Err... no.
  • 15. 01 MOBILE IN THE BANKING CONTEXT Focus on banking in the mobile channel 02 MOBILE MARKETING How to sell banking in the mobile channel 03 CASE STUDY: QUICK FIXING MOBILE What did SpareBank 1 do
  • 16. SNAPSHOT CONSUMER BEHAVIOUR Mobile is of growing importance Gross TV consumption stable Rapid growth in internet & mobile consumption Demands focus on both traditional & new digital media channels Web-TV & streaming (Netflix) replaces traditional TV in 15-30 segment No obvious substitute channel to TV on emotional messages Financial services 3rd biggest online purchase category Demands IT investments and changes in internal processes & mindset
  • 17. The increasing importance of digital channels leads to increased complexity and changes the centre of our marketing focus
  • 18. FROM TV TO CONTENT - IS KING Content through a variety of channels being key to success OUR MESSAGE • 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
  • 19. FROM BRANCHES TO GOOGLE Customer 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
  • 20. WE MUST CONSIDER CUSTOMERS AND CONTEXT BORED NOW REPETITIVE NOW URGENT NOW
  • 21. VERY MANY WEBSITES ARE MOBILE FRIENDLY…
  • 22. BUT BANKS? NOT SO MUCH… Some are!
  • 23. Simple solution: Do a responsive website Mhm..
  • 24. TO SUM UP THE CHALLENGES FACING MOBILE MARKETING THE CUSTOMER 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 THE FINANCIAL SERVICE INDUSTRY Everything technology related in banking is capital intensive Technology is evolving rapidly Lack of digital strategic understanding
  • 25. 01 MOBILE IN THE BANKING CONTEXT Focus on banking in the mobile channel 02 MOBILE MARKETING How to sell banking in the mobile channel 03 CASE STUDY: QUICK FIXING MOBILE What did SpareBank 1 do
  • 26. SPAREBANK 1 BEST IN THE BUSINESS ON MOBILE IN NORWAY
  • 27. 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
  • 28. 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
  • 29. 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?
  • 30. BRING TO MARKET A MOBILE FRIENDLY SITE – QUICKLY Goals for our new mobile website TRAFFIC SOURCES  Mobile ads  Banner in the app  Search engines  Visitors (web) 1 Lead generation to call centre 2 Be accessible on mobile channel for new and existing customers with relevant content visible in search 3 Increased distribution of our mobile applications
  • 31. LETS NOT DO IT THE WAY WE ALWAYS DO IT-PROJECTS…
  • 32. TWO DELIVERABLES: MAKE IT SIMPLE 1 CAMPAIGN LANDING PAGES 2 THE MOBILE WEBSITE
  • 33. WE CONNECTED OUR MOBILE UNIVERSE
  • 34. Banner in mobile bank app Banner on mobile site Ads
  • 35. TAKEAWAYS  GO MOBILE  CONTINIOUS TWEAKING  FROM 360 DEGREES TO 24/7 MARKETING  EXPERIMENT & LEARN Get started with mobile marketing even if you can’t do it all Utilize the high number of views to always tweak the performance Different devices used throughout the day, make channels complement each other Then apply and experiment again
  • 36. QUESTIONS? E-MAIL haakon.jensen@smn.no TWITTER @HaakonJensen
  • 37. THANKS FOR LISTENING E-MAIL haakon.jensen@smn.no TWITTER @HaakonJensen