Webinar deck: Mobile Marketing for Financial Services organizations


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This webinar will cover key marketing objectives, strategies and tactics pertaining to mobile marketing and how they uplift financial services and banking companies' marketing initiatives. We'll also cover how a financial company successfully integrates mobile marketing into their business practices and internal teams, and the right people to talk to for core competencies in the mobile marketing ecosystem.

Learn how SMS promotional campaigns, SMS subscription groups, mobile sites and other mobile marketing initiatives are deployed to increase key marketing objectives for the financial and banking industry. Learn the basics of increasing traffic to your retail locations, product awareness and sales using the mobile channel. Also learn key deployments available for internal and customer facing enterprise messaging. Most importantly, learn how mobile is easily integrated into your existing traditional marketing campaigns and direct marketing initiatives for measurable success.

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Webinar deck: Mobile Marketing for Financial Services organizations

  1. 1. Mobile Marketing for Financial Services Balances at 11:24AM Thurs, Nov 06 B of A Checking: $1299.09 Citibank Visa: $2,022/$37,500 Schwab: $14,544 An overview of concepts, strategies, tactics GEICO Auto Loan: and technologies for mobile enabling the $2325 financial services industry. Prepared by: Michael Ahearn, VP Strategic Marketing michael.ahearn@iloopmobile.com
  2. 2. About iLoop Mobile •  Leading technology and services making it fast and easy to create, manage and analyze mobile marketing campaigns and content delivery initiatives worldwide•  Award winning iLoop Mobile Platform is a self- service SaaS solution with open APIs for creating state-of-the-art SMS campaigns, mobile sites, mobile coupons, mobile-enabled Web sites and other mobile marketing initiatives•  Industry leader in mobile marketing strategy, managed service campaign delivery and professional services•  Customers include Fortune 500 brands, agencies, media companies, and other tier-one companies
  3. 3. What Mobile Means to Financial Services Mobile is mission critical to the finance industry’s present & future customer interaction: • Increase customer “stickyness” • Bank the “unbanked” in emerging markets • Help cut costs and automate • 24/7 always on access to any information • Key to mobile financial services marketing: convenience & personalization • Everything must have intrinsic value to the customer—less marketing fluff • Utility is a core function of financial services marketing
  4. 4. Convenience & Personalization/Relevance Hello John, The Union Square branch has special SF rates for new home mortgages. Your Alert: Interest rates are now below 5% Stop by 122 Kearney St.
  5. 5. Key Marketing Objectives Served by Mobile Customer Acquisition • New customers (young/student) • Loans and new accounts • Credit card sales • Small business accountsRetention & Loyalty • Content delivery • Alert sign up rewards and value add messaging • Promotions and incentivesBrand Awareness & Positioning • New services or programs • Sponsorships • Events • Value added information and contentCross Sell/Up Sell • Increase “share of wallet”
  6. 6. Mobile Tactics • SMS• MMS: advantage of unlimited text• Mobile Internet• Apps: their utility merits a permanent place on users’ phones• Mobile Enabled IVR (integration of text and voice calls)• Mobile Incentive Marketing & Promotions• Location Aware Messaging (LBS), Geo Fencing, Augmented Reality• UPC/2D barcodes and picture recognition• Search Marketing• Display advertising• NFC to replace debit card with mobile wallet + content delivery 160M (69%) 97M (42%) 76M (33%) 234M (100%) 14M (6%) 90M (38%) 93M (38%) 98M (42%) Voice Video 1.5M (<1%) 14M (6%) 194M (83%) Comscore March 2011 data across all 234M US mobile subscribers
  7. 7. The Impact of the Smart Phone US smart phone penetration Dec. 2010: 27% EU smart phone penetration Dec. 2010: 31% Looking Ahead End of 2011 Estimates: Mobile Subscribers: 300M+ Smartphone User Base: 150M 31% Mobile Internet Users: 120M Mobile Video Viewers: 90M Nielsen Nov. 2009 US SMART PHONE PENETRATION MARCH 2011 BY END OF 2011… 50%
  8. 8. Mobile Finance in the US • 29.8 Million accessed bank, credit or brokerage accounts with a mobile device (Comscore Dec. 2010)• 54% increase year to year• Mobile sites are preferred, 18.6M accessed (up 58%) compared to apps 10.8M (up 120%)• 8.1M used SMS services• 20% of all mobile phone owning credit cardholders report using their handset to manage their bank accounts during the past twelve months• 16% of mobile users access their card issuer’s site through a mobile browser, while 13% do so via mobile applicationForrester “State of US Banking 2011”• Adoption of mobile banking amongst US online adults has doubled in past 2 years• Predict will grow 20% year on year for the next 5 years• 22% say mobile banking is either “very important” or “important” for banks to offer• Used mostly for informational purposes ü  0% check account balances 7 ü  3% view transactions 3 In the US, Bank of America is a ü  0% transfer money 3 leader of m-banking. Launched in ü  7% for paying bills 2 May 2007 it now has 1.5 million subscribers. (ABI Research)
  9. 9. Business Models for Mobile Marketing Practice • Platform (SaaS) with API Integration • Managed Services • Point Solutions & Proprietary Development • Hybrid MARKETING Strategy AGENCIES CreativeThe building blocks of mobilemarketing… EXPERTISE Execution TRIANGLES Mobile Analytics & Measurement Mobile Enablement TECHNOLOGY Platform PROVIDERS
  10. 10. Financial Services Verticals Enterprise Internal Messaging (IT Team) • Internal messaging to sales or support teams • B2B messaging or communicationsPure Mobile Marketing Initiatives (Marketing Team) • SMS: alerts, coupons, promotions, quiz, polls, surveys, content delivery • MMS: deliver video, images, games • Event and co-op campaigns • Mobile sites for content and information outside of business services • AppsBusiness Services (Product Team) • Account alerts • Account management via mobile web/apps • Transactions • Transaction verification • Customer service
  11. 11. Mobile Marketing for Finance Today • Account SMS Alerts (balance, overdraft, fraud etc. every bank today)• Mobile sites & apps for account info• Direct check deposit (Chase app—take a picture of a check and deposit it)• Delivery of one time passwords via SMS for online banking (Paypal & top US banks)• Money transfer alerts (Western Union)• Loyalty rewards via mobile (mobile rewards and content for existing loyalty programs)• Mobile Promotions & Incentive Marketing ($100 to open an account, ringback ads for free minutes)• Brand and services awareness (mobile sites and apps with loan info and other bank services)• Customer help (dropped loans recovery)• Value add information (stock quotes, interest rates)• Coupons (Amex purchases…incentives for use of card and upsell of more cards …no coupon, it just credits your account)
  12. 12. Deutsche Bank: Internal Enterprise Messaging • Deutsche Bank integrated SMS with help and support system for IT support• Like as SAP system integrated with SMS communications Escalation Level 5• Example: ATM machine goes down, Ticket IN1184437 field repair gets the ticket via SMS Priority repair ATM # 453321• SMS has replaced pagers due to Branch Contact James Walker ubiquitous global penetration and use• The mobile advantage: system provides centralized management of IT messaging
  13. 13. Western Union: Customer Account Communications SMS, mobile Internet andmobile-enabled online Websites. Key solutions provideSMS verification of moneytransfers to customers in 44countries worldwide.•  SMS verification allows Western Union to identify the receiver of money transfers to build customer base•  Western Union mobile site for mobile services information and opt-in•  Mobile site provides retail locations, coupon promotions, money transfer tracking, mobile greeting cards and more•  Online Website for sign-up of SMS money transfer verification MARKETING CAMPAIGNS•  Mother’s Day “send a bouquet of flowers” mobile greeting card campaign•  US Hispanic demographic SMS campaign “Orlandi Valuta” with SMS/ IVR integration for money transfer discount coupons•  “Happy Wednesdays” SMS coupon promotion for transfer discounts
  14. 14. Amex Open Forum: The Small Business Social Club Social is Mobile | Mobile is Social CONTENT ACROSS DEVICES http://www.openforum.com/ http://www.openforum.com/mobile SEED CONVERSATONShttp://www.openforum.com/whatsbooming THROUGH THOUGHT LEADERS
  15. 15. Financial Services Marketing Worldwide Barclays: SMS Follow Up Service Pageonce: Unified Personal Accounts Local Promotion50% conversion of incomplete loans Top 5 iPhone Productivity App, 3M users Xmas Weekend UK Campaign 300% greater success than email 10,000 downloads/day at launch FIFA 2010 WC Soccer Alerts US Bank AccelaPay CIBC App for Home Buyers Bharti AirtelFirst full bill pay for prepaid card Suite of mortgage tools for house hunting SIM card payment app 2011 Paybefore Award winner Request for locked interest rates Carrier network mobile wallet
  16. 16. Bankinter: Advanced Mobile Capabilities Augmented Reality: BankinteriPhone 3Gs/4G & Android AppVideo camera on iPhone is used to“see” live surroundings•  ugmented Reality technology Aoverlays geo-relevant info and graphicsin real time over what you are lookingat using your phone camera•  ses camera, GPS, compass and Umovement sensors•  ffice and ATM location maps and Odirections•  ther important info provided per Olocation (handicap access, hours,distance)•  econd layer providing info on Sresidential and commercial property forsale. Focus camera on a specificbuilding for info including price, size,pictures, property characteristics etc.
  17. 17. Takeaways: Best Practices for Mobile • Think Objective, Strategy then Tactic• Don’t get distracted by sexy technology—make sure tactics have a measurable objective• Adapt your tactics to the ever changing channel preferences of your customers• Work with a mobile solutions platform that already takes care of regional compliance and privacy regulations• Integrate mobile with existing CRM data—you should work with a Master Persona of your customer• There is no such thing as mobile marketing—only mobile enabled marketing. Integrate mobile campaigns with other digital and traditional media.• Leverage the power of customer mobile opt-in via the Internet to capture preference and profile for future segmented messaging• Understand the regional adoption of handsets and their feature adoption with your target customers• Understand mass marketing vs. niche marketing in mobileConclusion:The challenge and opportunity of mobile marketing for financial services is to discover whatcontent or information is valuable to the customer, and then delivering it quickly andconveniently to their mobile device…it is not advertising as we’ve know it.For financial services, this will be dominated by utility, with other opportunities to engage.
  18. 18. Thank You Visit www.iloopmobile.com to learn how we can help you mobileenhance your health care marketing.Contact sales@iloopmobile.com (408) 907-3360 and we’ll help youget started. h"p://twi"er.com/iloopmobile h"p://www.facebook.com/group.php?gid=71337661648 h"p://www.linkedin.com/company/iloop-­‐‑mobile h"p://www.youtube.com/user/iLoopMobile