[mobileYouth] Banking: Youth marketing for banks - peer recommendation and customer service

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Find more research briefings, charts, and infographics on youth marketing here: http://www.youthresearchstore.com/ …

Find more research briefings, charts, and infographics on youth marketing here: http://www.youthresearchstore.com/

Youth marketing for banks: peer recommendation and customer service

Overview
Youth marketing through advertising campaigns and creating sub-brands is not effective for banks. Banks need to focus on generating Earned Media through peer recommendation. This briefing answers these key questions:

1. Why is peer recommendation key in youth marketing?
2. What role do teens and students play in generating recommendation for banks?
3. How does customer service affect growth in terms of deposits and brand value?

Table of Contents
1. Cover
2. Licensing and copyrights
3. Executive summary
4. chart - Unresolved issues cause switching
5. chart - Peer Recommendation: The Source Of Influence That Matters
6. chart - Promoters own more products and refer more often
7. chart - Teens and students are more likely to recommend banks
8. chart - Customer service key factor in feedback
9. chart - High NPS leads to stronger growth
10. case study - High NPS leads to high brand valuation for TD Bank
11. Need more insights and data?

The research briefing is available here: http://www.youthresearchstore.com/collections/marketing-1/products/briefing-youth-marketing-for-banks-peer-recommendation-and-customer-service

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Transcript

  • 1. New research briefing by Ghani Kunto mobileYouth www.mobileYouth.org MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 2. Better rates won’t attract youth MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 3. Better rates won’t attract youth neither would an edgy campaign MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 4. Better rates won’t attract youth neither would an edgy campaign or a youth sub-brand MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 5. Youth don’t listen to advertising MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 6. Youth listen to their friends Which media do you trust? Peer Recommendation Brand Sponsorship Television Ads Magazine Ads Billboard Ads Mobile Phone Text Ads net trust index % -40% -20% 0% 20% 40% source: mobileYouth via Nielsen 2010 MOBILEYOUTH youth marketing mobile culture since 2001 ®
  • 7. Recommendation comesfrom customer experience 75% of all customer interaction is Customer Service source: mobileYouth via Gartner 2012 MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 8. Teens and students aremore likely to recommend banksthan their older, working peers MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 9. Growth comes from recommendation not advertising MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 10. Find out more in the latest briefing: Youth marketing for banks:peer recommendation and customer service MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 11. Rediscover youth marketingBooks & other writing by Ghani Kunto available in the Youth Research Store MOBILEYOUTH ® youth marketing mobile culture since 2001
  • 12. a mobileYouth® company The Youth Research StoreOffering you:* Infographics* Research Briefings* Analyst Reports* BooksSubject areas include:* Mobile money* Emerging markets* Churn and influence* New apps and services* Youth mobile behaviorwww.YouthResearchStore.com click to visit store MOBILEYOUTH ® youth marketing mobile culture since 2001