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Precedent's Finance Forum - The digital landscape for UK financial services

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Integration or isolation? The digital landscape for UK financial services

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Precedent's Finance Forum - The digital landscape for UK financial services

  1. 1. Precedent’s Finance Forum <br />2011<br />Integration or isolation?The digital landscape for UK financial services<br />September 2011<br />
  2. 2. Today<br />Presentations 9.00 - 9.55Introduction, Rich media, Blogging and Micro-blogging<br /> Coffee<br />Presentations 10.15 - 11.00Social Networks, Mobile, Website innovation<br /> Coffee<br />Breakout discussions 11.15 - 12.002 x 20 minutes (musical chairs)<br />Review and feedback 12.00 - 12.30<br />Effective digital strategy 12.30 - 13.00<br />
  3. 3. Are you awake?<br />
  4. 4. Do you want to leave yet?<br />
  5. 5. Who are Precedent?Mark Sherwin – Commercial Director<br />
  6. 6. 80 experts<br />strategy & research<br />branding & communications<br />user centred design<br />development & hosting<br />digital marketing<br />
  7. 7. 5 sectors<br />financial services<br />membership organisations<br />third sector<br />education<br />health<br />
  8. 8. 4 offices<br />London<br />Edinburgh<br />Cardiff<br />Perth, Australia<br />
  9. 9. 21 years<br />experience<br />quality<br />stability<br />loyalty<br />results<br />
  10. 10.
  11. 11.
  12. 12. insightfulthinking<br />inspiringdesign<br />integrated<br />solutions<br />individual<br />support<br />
  13. 13. #PrecSem<br />
  14. 14. Our researchAdrian Porter – Head of Strategic Research<br />
  15. 15. 1998 - 2000<br />
  16. 16. 2001-2006<br />
  17. 17. 2007-2008<br />
  18. 18. 2008-2010<br />
  19. 19. 2010-2011<br />
  20. 20. Early - 2010<br />
  21. 21. Early - 2010<br />
  22. 22. 2011<br />
  23. 23. 50 finance sector companiesTheir use of digital channels<br />
  24. 24. Banks x10<br />Building Societies x10<br />Asset Managers x10<br />Insurers, Life and Pensions x10<br />Online only Financial Services x10<br />
  25. 25. Qualitative and quantitative<br />Who’s using what, for what?<br />Is it integrated and meaningful?<br />What is best practice?<br />
  26. 26. B2C?<br />
  27. 27. ...B2B<br />
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  38. 38. “Of course, the Web is catching on, particularly in the financial service sector. Yet, many corporations, still haven’t understood the opportunities that lie in sales, marketing and customer services – in fact in almost every area of their activities” <br />Adrian Porter - Porter Research - 1998<br />
  39. 39. <br />
  40. 40. Integration orisolation?<br />
  41. 41. Integrated channels?<br />
  42. 42. Integrated teams?<br />
  43. 43. 1.Rich MediaTrevor Chambers – Executive Creative Director<br />
  44. 44. What are they using it for?<br />How well is it integrated?<br />Is it working?<br />What can we learn?<br />
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  47. 47. Zopa YouTube channel<br /><ul><li>Low level branding user generated style channel – can’t control channel - Wonga ad on page
  48. 48. Home made feel to content</li></ul>Tutorials, demonstration <br />TV ads<br />Low channels views – under 500<br />
  49. 49. There's an Irish proverb which goes something like this: <br />listen to the river and you will catch fish<br />
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  53. 53. Yorkshire YouTube channel<br /><ul><li>TV ads just don’t work on their own
  54. 54. Can be used as supporting content but general views are very low, unless it’s a great ad.</li></li></ul><li>
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  58. 58. What works<br />
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  61. 61. What works<br /><ul><li>It’s got to be current
  62. 62. There is nothing worse than a channel that’s not been updated for 6 months
  63. 63. Users look at number of views and this effects their opinion of the content</li></li></ul><li>
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  65. 65. There are so many possibilities beyond a standard YouTube channel<br />Here’s an example:<br />
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  67. 67. Discussion points<br /> TV Ads rarely work online unless specifically designed as an integrated campaign.<br /> The importance of video and other rich media will increase as a channel for communicating key information, ideas and marketing messages .<br /> The biggest opportunity for finance brands online is to deliver frequent and relevant rich media content that informs rather than broadcasts.<br />
  68. 68. 2. Blogging and micro-bloggingNic Oliver – Creative Technologist<br />
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  74. 74. 3<br />
  75. 75. 1/3<br />
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  77. 77. We have the #1 blogging site in the world because the innovation is there.Steve Ballmer – CEO Microsoft<br />
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  80. 80. 2/3<br />
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  84. 84. 3/3<br />
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  88. 88. 43%<br />access Twitter through mobile device<br />Source: Compete 2011<br />
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  90. 90. Discussion points<br /><ul><li>Using blogging to be more transparent about your organisation is a significant marketing opportunity.
  91. 91. Buzz monitoring should be seen as a organisation-wide resource, not just a marketing tool.
  92. 92. Curating external sources and delivering them to your users can provide value for your customer and your brand.</li></li></ul><li>
  93. 93. Today<br />Presentations 9.00 - 9.55Introduction, Rich media, Blogging and Micro-blogging<br /> Coffee<br />Presentations 10.15 - 11.00Social Networks, Mobile, Website innovation<br /> Coffee<br />Breakout discussions 11.15 - 12.002 x 20 minutes (musical chairs)<br />Review and feedback 12.00 - 12.30<br />Effective digital strategy 12.30 - 13.00<br />
  94. 94. Precedent’s Finance Forum <br />2011<br />Integration or isolation?The digital landscape for UK financial services<br />September 2011<br />
  95. 95. 3. Social networksLindsay Herbert – Head of Digital Marketing<br />
  96. 96. Social media starts with looking over your neighbour’s shoulder.<br />
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  102. 102. Your brand is on social media whether you want it there or not.<br />
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  105. 105. Taking our report examples<br />to the next level.<br />
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  121. 121. Discussion points<br /><ul><li>It is appropriate for a financial service company to engage with their audiences on Facebook.
  122. 122. Linkedin Groups should be used to engage with your professional audiences.
  123. 123. Our legal teams need to take a more modern approach to interaction via social networks.</li></li></ul><li>4. MobileJohn Campbell – Head of Mobile<br />
  124. 124. What is your mobile environment?<br />Various platforms, from traditional web browsers solutions, to the many mobile platforms.<br />Android<br />Blackberry<br />Apple iPhone<br />Apple iPad<br />
  125. 125.
  126. 126. Statistics...... not the important factor<br />It is a simple decision:<br /><ul><li>The trend cannot be questioned
  127. 127. You need to have a solution for mobile today
  128. 128. Aim to provide an optimal experience</li></ul>Your question is what and how (not if)<br />
  129. 129. Aspire to an integrated and considered approach<br />Kindle<br />iPad view<br />Desktop view<br />Smartphone view<br />Whisper sync<br />
  130. 130. Your considerations should be:<br /><ul><li>What - Corporate view : tactical campaign: quick wins
  131. 131. Who (Approach)- your reach : audience : strategy
  132. 132. How (Delivery)- screen : speed : context : content
  133. 133. When (Future)– today’s expectation : innovations</li></ul>We will look at each of these .....<br />
  134. 134. (1) Approach: Your 0ptions<br />
  135. 135. Mobile solution reach<br />
  136. 136. Example: Banking “Mobi” sites<br />
  137. 137. Example: Insurance “Mobi” sites<br />Introducing transactional interaction<br />Focus on brochureware<br />
  138. 138. (2) Delivery – screen: speed: context: content<br />Considering context is topical and essential:<br />Forrester definition:<br />“The sum total of what your customer has told you and is experiencing at the moment of engagement.”<br />Consider your customers <br />situation <br />preference<br />attitudes<br />Will give better customer experience<br />
  139. 139. Example: Native Apps<br />
  140. 140. (3) Future – expectation : innovation<br /><ul><li>Mobile is the fastest moving technology area
  141. 141. Trends to keep in eye on:
  142. 142. Mobile as the virtual wallet
  143. 143. Near field opportunities
  144. 144. Location based promotions
  145. 145. QR & AR
  146. 146. Responsive design </li></li></ul><li>Example: Responsive Design Challenge<br />Challenges - Considerations<br /><ul><li>Forced order and best practice
  147. 147. Screen size – optimised image
  148. 148. Video playback </li></li></ul><li>Discussion points<br />Starting with quick wins is the best approach to engaging with your mobile audiences .<br />Website content should be reconsidered to deliver an effective mobile experience.<br />Achieving reach through a mobi website is a better starting point than delivering the optimal experience to a single device through an App.<br />
  149. 149. 5. Website innovationMark Russell – Strategic Consultant<br />
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  152. 152. Info-graphic<br />
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  163. 163. Discussion points<br /><ul><li>High quality info-graphics often have greater impact and effectiveness than complex data charting.
  164. 164. Tracking user behaviour and using it to deliver a more personalised experience can be appropriate in the finance sector.
  165. 165. Gamification type incentives could be useful to your organisation in driving consumer behaviour.</li></li></ul><li>
  166. 166. Today<br />Presentations 9.00 - 9.55Introduction, Rich media, Blogging and Micro-blogging<br /> Coffee<br />Presentations 10.15 - 11.00Social Networks, Mobile, Website innovation<br /> Coffee<br />Breakout discussions 11.15 - 12.002 x 20 minutes (musical chairs)<br />Review and feedback 12.00 - 12.30<br />Effective digital strategy 12.30 - 13.00<br />
  167. 167. 1. Rich media<br />2. Blogging and Micro-blogging<br />3. Social Networks<br />4. Mobile<br />5. Website innovation<br />
  168. 168. Precedent’s Finance Forum <br />2011<br />Integration or isolation?The digital landscape for UK financial services<br />September 2011<br />
  169. 169. 1. Rich media<br />2. Blogging and Micro-blogging<br />3. Social Networks<br />4. Mobile<br />5. Website innovation<br />
  170. 170. Effective digital strategyMark Sherwin – Commercial Director<br />
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  177. 177. The internet is the first thing that humanity has built that humanity doesn’t understand, the largest experiment in anarchy we have ever hadEric Schmidt, CEO Google<br />
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  180. 180. Unique Value CreationMichael Porter<br />
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  183. 183. Strategy is about making choices;what to do - and what not to do.Michael Porter<br />
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  189. 189. If I’d asked my customers whatthey wanted they’d have saida faster horse! Henry Ford<br />
  190. 190. Why?<br />
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  197. 197. 0800 800 801<br />
  198. 198. Harnessing the power of the internet is harnessing the power of your peopleMark Sherwin<br />
  199. 199. Online community<br />Corporate communications<br />
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  202. 202. Online community<br />Digital Special Ops Team<br />
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  204. 204. Online community<br />Digital Special Ops Team<br />
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  206. 206. The Social Network<br />Advocates and ambassadors<br />
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  208. 208. Think bigStart small<br />Act quickly<br />
  209. 209. Find our Precedent group on LinkedIn for a chance to find out more about our seminars, network, share ideas and quiz the Precedent team on seminar issues and more!<br />and follow us on twitter.com/Precedentcommsfor Precedent news, seminar info and general observations<br />#PrecSem<br />Invite your colleagues Edinburgh 16th September<br />
  210. 210. #PrecSem<br />

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