Success of FNB mobile banking app with youth shows why marketers need to focus on the 10% that influences the 90% (Graham Brown mobileYouth) DOWNLOAD

  • 299 views
Uploaded on

Success of FNB mobile banking app with youth shows why marketers need to focus on the 10% that influences the 90% (Graham Brown mobileYouth) DOWNLOAD …

Success of FNB mobile banking app with youth shows why marketers need to focus on the 10% that influences the 90% (Graham Brown mobileYouth) DOWNLOAD

South Africa’s First National Bank (FNB) has revealed the youth market, aged 18 to 25, has shown the greatest growth in the uptake of its mobile banking app.

More in: Technology
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
299
On Slideshare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
2
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. mobileyouth.org http://www.mobileyouth.org/post/success-of-fnb-mobile-banking-app-with-youth-shows-why-marketers-need-to-focus-on-the-10-that- influences-the-90/ Graham Brown Mobile Youth Success of FNB mobile banking app with youth shows why marketers need to focus on the 10% that influences the 90% FNB’S YOUTH SUCCESS South Africa’s First National Bank (FNB) has revealed the youth market, aged 18 to 25, has shown the greatest growth in the uptake of its mobile banking app. The bank said the youth market has seen 14 per cent growth this year, rising by 133 per cent from when the app was launched in 2011. According to Giuseppe Virgillito, head of banking app, FNB Mobile and Connect, the growth in app usage is directly proportional to the uptake in cheque accounts in the age group. “We think that the growth in this market is down to the characteristics and trends shown by the two different generations that overlap within this age group,” said Virgillito. WHY YOU NEED TO FOCUS ON THE 10% Young Fans are the 10% that influence the 90%
  • 2. When you launch a banking app, focus on this core Beachhead before you expand to the wider market. Being able to sell the value of youth internally to your team first is critical. Because youth are the lower spending customers, you need to focus on this INDIRECT VALUE – the value that this 10% can bring to your marketing by significantly increasing ROI to older customers through word of mouth and recommendation. FROM CUSTOMERS TO FANS: BREAKDOWN OF THE MARKET Size Who are they? Role Fans 10% of the market Employees, co- workers, vocal customers who “get it” and love the product Key influencers, advocates and educators. Focus on breaking down the walls to help Fans tell their story and broadcast to the customer base. Commit all your energy to the Fans and leverage their lines of influence to shape the market. Observers 20% Silent Fans who are to be convinced that going public with their affections or ideas is a good idea The bridge between Fans and the mass market. 2nd wave of adopters Skeptics 50% The silent majority who are easily swayed one way or the other Skeptics only come on board when the Social Proof from Fans and Observers is strong enough to de-risk any change in behavior. Critics 20% The vocal opposition. The “Yes, buts”. The naysayers Critics will continue to fiercely oppose any change, product or technology simply because their position of opposition gives them significance. Do not waste energy to convert the Critic. Focus energies on those that matter and use the mass market to silence the critic. More From Graham Brown’s Series on How to Sell Technology Privacy drives the next wave of Social Media Apps Why People Buy Technology: Social Proof The Paradox of Quality: Why Better Technology Fails Why you need to become a Farmer not a Hunter to sell technology If you want to sell technology, stop trying to “have a conversation” with your customers These 2 Social Experiments Show How Stories Sell Technology What the Oscars and Ellen’s Selfie teaches us about selling mobile phones The 90-10 Rule: Focus on the 10% that influences the 90%
  • 3. Give customers what they need: Not more technology but more Social Space Change Your Metaphors: How great leaders sell technology Technology Companies need to Embrace the Unofficial or Die Don’t Teach a Pig to Sing: Why you should master the internal sale first when selling technology