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Digital marketing and financial services

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Impact of digital media on marketing with special reference to financial institutions. Invited presentation by Ian Fenwick of digiAindra co. ltd. to Kbank in Bangkok. May 6 2010

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Digital marketing and financial services

  1. 1. DigiMarketing: Implications for Financial Service Industry<br />Prepared for K-Bank<br />May 6, 2010<br />Turnkey Digital Marketing <br />group@digiAindra.com<br />Copyright © by digiAindra Co., Ltd. All rights reserved<br />
  2. 2. Agenda<br />digital media<br />changing behavior<br />4 P’s of digiMarketing<br /> future <br />
  3. 3. Digital Media<br />1.8b+ internet users<br />NASDAQ IXIC Composite Index<br />
  4. 4. 2009<br />1.8 billion +<br />Asia 42% of all users<br />(20% penetration)<br />China 384 million <br />(29%)<br />Source: http://en.wikipedia.org/wiki/Image:Internet_users_en_2007.PNG<br />www.internetworldstats.com/<br />
  5. 5. ><br />Top 10 Developed<br />Markets<br />Top 10 Emerging Markets<br />USA, Japan, Germany, France, UK, Italy, Spain, South Korea, Canada, Australia<br />Brazil, Russia, India, China, <br />Mexico, Turkey, Indonesia, Iran, <br />Poland, Saudi Arabia<br />Technology/Internet Trends, Mary Meeker , presentation at Web 2.0 Summit, Nov 5 2008,<br />Not just developed countries<br />
  6. 6. Thailand: 13.5m 21%<br />Bangkok: <br />digiAindra<br />biz decision-makers 80% <br /> top management 93% <br />Source: BDM, Top management Synovate PAX Q3 2007-Q2 2008; internet access Truehits & NECTEC Thailand Internet Penetration 2008<br />www.internetworldstats.com/stats3.htm#asia<br />
  7. 7. Media use, hours/week, upmarket adults, Bangkok,<br />digiAindra<br />hours/week<br />Internet (excl. email)<br />14<br />1.1%<br />19<br />TV<br />Magazines<br />54%<br />Newspapers<br />5<br />% of total mktgspend Thailand, 2008<br />18%<br />5<br />6%<br />Source: BDM, Top management Synovate PAX Q3 2007-Q2 2008; internet access Truehits & NECTEC Thailand Internet Penetration 2008<br />Sources: Media consumption Synovate PAX Q3 2007-Q2 2008; Marketing spend GroupM – 2008 Media Outlook<br />
  8. 8. Media use, hours/week, upmarket adults, Bangkok,<br />digiAindra<br />25-34 years old,<br />hours/week<br />4<br />17<br />Internet (excl. email)<br />1.1%<br />17<br />TV<br />TV<br />Magazines<br />54%<br />Newspapers<br />Newspapers<br />% of total mktgspend Thailand, 2008<br />18%<br />5<br />6%<br />Source: BDM, Top management Synovate PAX Q3 2007-Q2 2008; internet access Truehits & NECTEC Thailand Internet Penetration 2008<br />Sources: Media consumption Synovate PAX Q3 2007-Q2 2008; Marketing spend GroupM – 2008 Media Outlook<br />
  9. 9. Jan 5, 2010: Thailand world’s 2nd fastest growing Facebook community<br />http://jonathan-russell.com/2010/01/05/thailand-becomes-facebooks-second-fastest-growing-market <br />
  10. 10. http://www.facebakers.com/countries-with-facebook/TH<br />April 30, 2010: Thailand 3.24 mFacebook users<br />
  11. 11. http://www.facebakers.com/countries-with-facebook/TH<br />April 30, 2010: Thailand 3.24 mFacebook users<br />“<br />large populations & growing internet connectivity, are pushing Asia’s Pacific Rim countries to the forefront on Facebook…<br />
  12. 12. Agenda<br />digital media<br /><ul><li> mainstream
  13. 13. growing
  14. 14. Asian</li></li></ul><li>Agenda<br />digital media<br />changing behavior<br />
  15. 15. Internet passes TV, Q4 2009, Cda<br />Source: Inter@ctive Reid Report http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=4720<br />
  16. 16. Internet passes TV, Q4 2009, Cda<br />Source: Inter@ctive Reid Report http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=4720<br />
  17. 17. Most essential medium, US 2010<br />Arbitron & Edison Research<br />http://www.edisonresearch.com/home/archives/2010/04/the_infinite_dial_2010_use_of_social_media_explodes.php<br />http://www.edisonresearch.com/home/archives/Q3%20Media%20Perceptions%20-%20large%20slides%20_2_.pdf<br />“Among Internet, Newspapers, Radio and Television, which one…is most essential to your life?”<br />42%<br />37%<br />14%<br />5%<br />
  18. 18. Interactive TV – 07Show<br />http://www.manytv.com/07show/<br />ก่อนออกอากาศผู้เล่นควรเตรียมตัวให้พร้อม และควรประจำที่ ก่อนออกอากาศ 1.30 ชั่วโมง และใส่หูฟังไว้ตลอดเวลา ในคอยฟังการเทสต์สัญญาณกับทางทีมงาน (ทางทีมงานจะทำการทดสอบความพร้อมทีละคน)<br />เล่นเกมส์ Webcast ออกรายการสด<br />
  19. 19.
  20. 20. Behavior Changing<br />By Andrew Eisner, Retrevo's Director of Community & Content. The data for this report came from a study of online individuals conducted by an independent panel. The sample size was just over 1000 distributed across gender, age, income and location in the United States<br />
  21. 21. Behavior Changing<br />By Andrew Eisner, Retrevo's Director of Community & Content. The data for this report came from a study of online individuals conducted by an independent panel. The sample size was just over 1000 distributed across gender, age, income and location in the United States<br />
  22. 22. Thailand:<br />“<br />India, Thailand& New Zealand are leading the curve, with more than 90% ...very satisfied<br />Aged 18-64, with personal bank accounts, & who accessed the internet at least once a week<br />“extremely/very satisfied” with online shopping<br />93%<br />shop online<br />87%<br />86%<br />63%<br />44%<br />43%<br />http://www.masterintelligence.com/reports.jsp<br />http://www.mastercard.com/hk/personal/en/wce/pdf/100225_Online%20Shopping_HK%20Fina_eng.pdf<br />
  23. 23. Thailand:<br />Aged 18-64, with personal bank accounts, & who accessed the internet at least once a week<br />“extremely/very satisfied” with online shopping<br />93%<br />shop online<br />87%<br />86%<br />63%<br />44%<br />43%<br />http://www.masterintelligence.com/reports.jsp<br />http://www.mastercard.com/hk/personal/en/wce/pdf/100225_Online%20Shopping_HK%20Fina_eng.pdf<br />
  24. 24. Online spending increasing<br />Master Card Survey: Thais ages of 18 and 64 years with personal bank accounts and who accessed the internet at least once a week.<br />http://www.masterintelligence.com/reports.jsp<br />www.mastercard.com/hk/personal/en/wce/pdf/100225_Online%20Shopping_HK%20Fina_eng.pdf<br />“<br />Online shopping has become essential to more than half of the respondents from China, Korea, Japan, India & Thailand<br />
  25. 25.
  26. 26. “<br />Digital Marketing (digimarketing) is the evolution of marketing, happening when the majority of a company’s marketing uses digital channels<br />DigiMarketing<br />
  27. 27. “<br />[US]marketers’ digital spending to overtake print for the first time ever…<br />Source: Outsell, March 8, 2010<br />http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100308005991&newsLang=en<br />Marketing catching up<br />
  28. 28. 2009e<br />2009 baht*<br />2008 baht<br />% growth<br />TV<br />49.9 m<br />4%<br />51.9 m<br />Radio<br />6.9 m<br />-11%<br />6.1 m<br />Print<br />21.1 m<br />-9%<br />19.1 m<br />Outdoor<br />6.4 m<br />2%<br />6.5 m<br />Internet<br />TOTAL<br />0.17 m<br />88.6 m<br />44%<br />0%<br />0.25m<br />89.0 m<br />Thailand<br />Nielsen Media Research, reported in Marketing and Media, Mindshareworld Co Ltd : Yr 2009 estimated<br />
  29. 29. digimarketing<br />“<br />What does it say about a brand if they aren’t involved with sites like Facebook or Twitter?<br />It shows they’re not really with it or in tune with the new ways to communicate with customersfemale aged 18-24<br />Source: http://www.imoderate.com/main/newsID/50/do/press_release_Detail<br />
  30. 30. digimarketing<br />“<br />What does it say about a brand if they aren’t involved with sites like Facebook or Twitter?<br /> they’re not interested in the demographic that frequents Facebook & Twitter, or they’re unaware of the opportunitymale aged 35-39<br />Source: http://www.imoderate.com/main/newsID/50/do/press_release_Detail<br />
  31. 31. digimarketing<br />“<br />What does it say about a brand if they aren’t involved with sites like Facebook or Twitter?<br />it's EXPECTED that a company have some digital face…they need a strong electronic presence or you doubt their relevance<br />female aged 50-54<br />Source: http://www.imoderate.com/main/newsID/50/do/press_release_Detail<br />
  32. 32. Agenda<br />digital media<br />changing behavior<br /><ul><li> opportunity
  33. 33. agile
  34. 34. new mindset</li></li></ul><li>Agenda<br />digital media<br />changing behavior<br />4 P’s of digiMarketing<br />
  35. 35. 4Ps<br />
  36. 36. 4Ps<br />Permission<br />Participation<br />The 4Ps of digimarketing<br /><ul><li>Clear opt-in
  37. 37. Easy opt-out
  38. 38. Customer-chosen content & frequency
  39. 39. Relevance</li></li></ul><li>35<br />
  40. 40. “<br />Audience is as antique a term as record, the one archaically passive, the other archaically physical<br />William Gibson<br />36<br />
  41. 41. Today’sConsumers<br />
  42. 42. Participation<br />Source: OgilvyOne, Thailand<br />
  43. 43. Participation<br />Source: AsiaSoft, Thailand<br />
  44. 44. Participation<br />HSBC-"Your Point of View", Live Theatre Windows Campaign ; http://www.youtube.com/watch?v=Pn8oEn0WHnY<br />
  45. 45. Participation<br />Source: http://www.slideshare.net/rashmi/meet-dave-meet-slideshare<br />
  46. 46. 4Ps<br />Permission<br />Participation<br />The 4Ps of digimarketing<br />(Privacy)<br />Profile<br />
  47. 47. Personal Financial Assistant<br />http://www.mint.com/<br />http://websha.com/mint.com<br />
  48. 48. Mint is now aggregating data from its 1.5 m users & mining it for personal spending trends<br />http://www.fastcompany.com/blog/chris-dannen/techwatch/mintcom-add-data-mining<br />http://www.mint.com/<br />
  49. 49. http://www.mint.com/<br />Report Summary<br />
  50. 50. Report Summary<br />“<br />Eventually, we’ll do this for research …creating a streamlined for-pay service allowing businesses to mine spending habits<br />“<br />definitely potential for a financial adviser product down the line<br />http://www.mint.com/<br />
  51. 51. My Money Skills<br />http://www.mymoneyskills.me/english/gt/main.jsp<br />
  52. 52. 4Ps<br />Permission<br />Participation<br />The 4Ps of digimarketing<br />Personalization<br />(Privacy)<br />Profile<br />
  53. 53. Personalization<br />
  54. 54. Personalization<br />
  55. 55. Personalization<br />Source: Ogilvy Brazil<br />http://www.youtube.com/watch?v=lH-PK9MM45U<br />
  56. 56. 4Ps<br />Permission<br />The 4Ps of digimarketing<br />1http://www.emarketer.com/Article.aspx?R=1007599 <br />2http://www.networkadvertising.org/pdfs/NAI_Beales_Release.pdf<br />Personalization<br />“<br />behaviorally targeted ads twice as effective<br />(Privacy)<br />Profile<br />Participation<br />
  57. 57. Personalization or stalking?<br />Source: http://www.nonlineblogging.com/blog/2010/2/22/surprise-me-dont-scare-me-behavioural-targeting-and-dynamic.html<br />http://www.seo-chicks.com/872/behavioral-based-ads-bad-for-publishers-and-scary-for-users.html<br />“<br />Surprise me: don’t scare me! <br />
  58. 58. Personalization or stalking?<br />Source: http://www.nonlineblogging.com/blog/2010/2/22/surprise-me-dont-scare-me-behavioural-targeting-and-dynamic.html<br />http://www.seo-chicks.com/872/behavioral-based-ads-bad-for-publishers-and-scary-for-users.html<br />“<br />way too invasive for me…I have blocked Criteo ads completely<br />“<br />dynamic serendipity<br />“<br />Surprise me: don’t scare me! <br />
  59. 59. Permission - Participation Profiling - Personalization<br /> engage<br />in a socialcontext<br />DigiMarketing<br />
  60. 60. Social networks are mainstream life<br />http://www.southparkstudios.com/episodes/267112/<br />
  61. 61. Agenda<br />digital media<br />changing behavior<br />4 P’s of digiMarketing<br />Permission - Participation Profiling - Personalization<br />Engage in a socialcontext<br />
  62. 62. Agenda<br />digital media<br />changing behavior<br />4 P’s of digiMarketing<br /> future <br />
  63. 63. Top 10 Most Innovative Companies in Finance<br />http://www.fastcompany.com/mic/2010/industry/most-innovative-finance-companies <br />http://thefinancialbrand.com/11006/9-considerations-about-financial-innovation/<br />“<br />eight of the 10 most innovative companies in the financial industry aren’t banks<br />
  64. 64. “Generation Y” is an important demographic<br />The Asian Banker, April 23, 2010<br />http://www.asianbankerpublication.com/A556C5/update.nsf/0/A3FEE82395970A894825770E000EC9A5?opendocument<br />
  65. 65. “Generation Y” is an important demographic<br />The Asian Banker, April 23, 2010<br />http://www.asianbankerpublication.com/A556C5/update.nsf/0/A3FEE82395970A894825770E000EC9A5?opendocument<br />Asian banks in particular, are seen as lagging behind the use of social media compared to their counterparts outside of Asia<br />most banks don’t place enough emphasis on innovation as they are used to pushing information to their customers. <br />with the emergence of user-generated content…banks are having to deal with the flow of reactions about their services & products at an intensity & pace that most cannot even recognise, much less catch up to, Katkov, SVP Asia of Celent’s Asia Research Group <br />social network’s being the second most powerful influenceover a person’s branding choice, social media is something banks can no longer ignore.<br />Catalysts for Change - The Implications of Gen Y Consumers for Banks” has shown that Generation Y’s spending is poised to surge from $600 billion in 2009 to $2.45 trillion by 2015.<br />
  66. 66. Dexia Bank: creates Axionfor 12-25 year olds<br />http://www.dexia.be/nl/Particulier/VIADEXIA/LandingPages/LP_Axion/ <br />http://www.axionweb.be/static/FR/index.aspx<br />http://thefinancialbrand.com/10010/dexia-axion-bank-banner-concerts/<br />
  67. 67. Axion<br />Created rock concerts on banner ad sized stage<br />http://www.youtube.com/watch?v=G5tW1JJqe3U<br />http://www.axionweb.be/static/FR/index.aspx<br />http://thefinancialbrand.com/10010/dexia-axion-bank-banner-concerts/<br />
  68. 68. Dexia Bank<br />Showed the concerts in banner ads<br />http://www.dexia.be/nl/Particulier/VIADEXIA/LandingPages/LP_Axion/ <br />http://www.axionweb.be/static/FR/index.aspx<br />http://thefinancialbrand.com/10010/dexia-axion-bank-banner-concerts/<br />Bands (& fans) could copy and embed on their own sites<br /><ul><li>7 million paid impressions
  69. 69. embeds on bands’ fan pages & blogs 40,000 free impressions
  70. 70. 45,000 unique visitors to the microsite
  71. 71. 7,500 voted for favorite band</li></li></ul><li>Bucks First Credit Union: Project FlipsideThe Alternative to Doing Nothing: a community-based social media program <br />http://thefinancialbrand.com/10651/bucks-first-fcu-project-flipside-gen-y-promotion/ : March 12, 2010<br />use Gen-Y to communicate with Gen-Y<br />promoting financial literacy & the dual chequing/savings Flipside Account<br />
  72. 72. Don’t forget “friends & family”<br />http://thefinancialbrand.com/11342/fiserv-gen-y-banking-study/, April 14, 2010<br />
  73. 73. Bucks First Credit Union: Project FlipsideThe Alternative to Doing Nothing <br />http://www.youtube.com/watch?v=5krHcfpXoCI<br />
  74. 74. PNC Bank’s Virtual Wallet <br />http://www.youtube.com/watch?v=IrAr4YrKtJc&feature=player_embedded<br />
  75. 75. My IKEA<br />http://www.youtube.com/watch?v=OjavjTvzIMw<br />
  76. 76. Parcel AR<br />
  77. 77. Summary<br />digital media<br /><ul><li>mainstream , growing, Asian</li></ul>changing behavior<br /><ul><li> opportunity, agile, new mindset</li></ul>4 P’s of digiMarketing<br /><ul><li>Permission, Participation, Profiling, Personalization</li></ul>future<br />
  78. 78. THANK YOU<br />Turn Key Digital Marketing <br />group@digiAindra.com <br />Copyright © by digiAindra Co., Ltd. All rights reserved<br />

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