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American Banking Association Marketing Conference - Modern Consumers


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The new consumer is not like the old. This means your bank has to be more than a bank. They must be contextual to the needs of the consumer, which are far past just financial. Here's what you need to know.

Published in: Marketing

American Banking Association Marketing Conference - Modern Consumers

  1. 1. The New AND HOW TO COPE Presented by @msweezey Consumer
  2. 2. @msweezey TO Get the slides JUST GOOGLE
  3. 3. New Consumers are a result of a new Media ERA Consider the following… @msweezey
  5. 5. I N 1 9 6 0 t h e r e a r e ONLY 5MEIDA CHANNELS @msweezey
  7. 7. N O W I N 2 0 1 5 NOW OVER200+ CHANNELS @msweezey
  8. 8. UNLIMITEDCreation UNLIMITEDDistribution UNLIMITEDConsumption*This is a new era of media @msweezey
  10. 10. @msweezey InfiniteMediaEra LimitedMediaEra 2009
  11. 11. New ERA means new consumer demands. Not just more media.
  12. 12. “ “ 51% of Millenials said their bank had nothing to offer them over a competing bank. Viacom Media Networks @msweezey
  13. 13. “ “ 71% of Millenials would rather visit the Dentist than listen to what a bank had to say. Viacom Media Networks @msweezey
  14. 14. “ “ 73% of Millenials would rather hand their financial services needs with Google, Apple, Amazon, PayPal, or Square than with their own nationwide bank. Viacom Media Networks @msweezey
  15. 15. context The keys to reaching the modern consumer is
  16. 16. @msweezey The Hierarchy of context Available Purposeful Authentic PERSONAL ALL
  17. 17. Available The lowest level of context and it is easy to understand why. There is no way to be contextual if you are not there. Once there you then begin to compete on other levels, and to other degrees.
  18. 18. Let me explain by playing a little game.
  19. 19. How many pages does the average person go to on a website?
  20. 20. The average number of page views per visit is“ @msweezey 1.7
  21. 21. Marketing must be contextual across all channels, and specific to the moment. This means a minimum of the following connected systems: •  CRM (system of record) •  Marketing Automation (system of engagement) •  Website (owned engagements) •  Product (increased value) System Of Context @msweezey
  22. 22. Marketing Sales Service Single Customer View allows for contextual experiences to be automated on any connected channel. Automation Platform (s) CRM System of relevance Allows for plug and play integrations with other apps who use data, and add to data. Website Product API Supports direct integration into your products and website for dynamic in product experiences, and bi directional data flow. @msweezey
  23. 23. Marketing will have the largest IT budget by 2020 -gartner“ @msweezey
  24. 24. PERSONAL Personal is the idea of a completely fluid set of experience created for a single person, directed completely by the periphery. You never created the experience, rather a set of parameters.
  25. 25. 65% of buyers would switch brands if the vendor doesn’t personalize communication– SFDC RESEARCH 2016 “ @msweezey
  26. 26. BEHAVIORS Companies who use marketing automation see an increase in revenue by 34%. -Pardot
  28. 28. Each of these content blocks is an iframe provided by the marketing automation tool. They change to match the person on the webpage = a zero click experience.
  29. 29. Personal EXPERIENCE For large accounts
  30. 30. Demandbase saw lead flow increase by 400% when they dynamically changed the content based on IP addresses of visitors.
  31. 31. Personal conversation
  32. 32. This is MY banks Website I’ve been a customer for 20 years Why are they asking me to open an account?
  33. 33. This is what it should look like 1 – How to invest like a pro with under 1k a month. 2- Why buying a house is money in the bank. This is Jill, your personal banker. I took a look at your account and wanted to suggest a few things. •  This makes the right content available •  Opens up a chat with your customer •  This is how consumers want to engage.
  34. 34. Messaging apps are more used than social media as of 2015 “ @msweezey
  35. 35. Chat Bots are App Killers Consumers see chat bots as a way to solve all of these issues! More than apps!
  36. 36. On email Jay see’s 15% open and 2-4% click Messenger 70% read, and 13% click J a y B a e r i s t e s t i n g o u t c h a t b o t s f o r a u d i e n c e e n g a g e m e n t .
  37. 37. On email Jay see’s 15% open and 2-4% click Messenger 70% read, and 13% click H e ’ s g e t t i n g 10x t h e o p e n r a t e i n m e s s e n g e r c o m p a r e d t o e m a i l s & 5x t h e c l i c k t h o u g h t s o v e r e m a i l 5xB a b y ! @msweezey
  38. 38. AUTHENTIC Means more than just being genuine, it is “What is expected” It means helping people have the experience they believe they should be having.
  39. 39. Do you do “A” or “B”? HOWDOYOU Manageyouremail?
  40. 40. ‘B’=Wedisqualify beforewequalify. @msweezey
  41. 41. Authentic Subject lines
  42. 42. Leaveout Marketing Speak. @msweezey PEOPLEdon’twritethatway.
  43. 43. Authentic Copy
  45. 45. RICHTEXTISAUTHENTIC This email took less than 2 minutes to create John, Have you meet Jill the Banker yet? She writes for banking monthly. Check out her last article, I think you’ll like it The New World of Business. Best, Mathew @msweezey
  46. 46. 15th largest bank In the UNITED STATES DID A SIDE BY SIDE with HTML v RICH -> INCREASED ENGAGEMENT BY4x @msweezey
  47. 47. Authentic Content
  48. 48. Haveyoueverclicked onare-tweet? @msweezey
  49. 49. Re-Tweetsstatethe persondidn’tcreate thecontent. @msweezey
  50. 50. Sharingcontentis helpful,and authentic. @msweezey
  51. 51. Sharing @msweezey Every Tweet has a URL. Now you can share you best content via email, and other channels.
  52. 52. RICHTEXTISAUTHENTIC This email took less than 2 minutes to create Mat, Not sure if you saw this yet, but figured you’d enjoy Brian’s take on financial freedom LINK TO THE TWEET. Best, Jill the banker @msweezey
  53. 53. ThisAccomplishes •  Social proof •  Connects to your social channels •  Introduces them to another social account •  Gets more miles out of great content @msweezey
  54. 54. Authentic Engagement
  55. 55. I live in Charleston, this is a Banker from my Bank, in my town. She only has 38 connections? Why am I not connected to a banker?
  56. 56. Mat, So glad you moved to Charleston. Have you been to the Daily yet for Coffee? It’s around the corner from our office. Here’s a cup on me. Jill the banker
  57. 57. Authentic social
  58. 58. Social media is the modern day smoke break.“ @msweezey
  59. 59. Kronos uses these comics to share on social media. They see 10x more engagement on these comics than their corporate blog. “ @msweezey
  60. 60. PURPOSEFUL Purpose is helping them fulfill the desire/ reason they are there in the first place. Purpose is to the moment.
  61. 61. PurposeIs momentary @msweezey
  62. 62. TheMoment Theylandon yoursite @msweezey
  63. 63. DYNAMIC Sales jumped 50% by introducing dynamic content to their website and email. They saw over $700k of sales from online in the first month. DYNAMIC CONTENT BASED ON WEB BEHAVIOR DYNAMIC DYNAMIC DYNAMIC @msweezey
  64. 64. How does a website answer purpose? Purpose: They want to find the answers instantly. @msweezey
  65. 65. TheMoment Theyare Frustrated @msweezey
  66. 66. Use chatbots to suggest content with in your online banking platform when you notice. •  Rage clicking •  Accessing customer support
  67. 67. TheMoment Theyarebored @msweezey
  68. 68. 51% of the time a CEO’s picks up their mobile device because they are bored. - Pew Research “ @msweezey
  69. 69. Social media is the modern day smoke break ESCAPE CONTENT “ Give people something to enjoy, and help them escape from their day. This is authentic to social channels. @msweezey
  70. 70. conclusion Wrap this up with a bow on it
  71. 71. environment We live in a totally new Where your old ideas don’t work anymore.
  72. 72. LIMITLESS THERE IS NOW Content, and all of it has permission
  73. 73. CONTEXT You’re only hope is And context is a hierarchy of things
  74. 74. moments Context is to the Moments matter more than ever
  75. 75. technology Context can only be reached via There is only one way to scale context
  76. 76. @msweezey Mathew sweezey THANKYOU