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9/30/2011             A Winning Mobile Strategy                                           Dan Marks                       ...
9/30/2011Adoption growing faster than   any other innovation               Implications• Google reports that over 18% of s...
9/30/2011                           Example industry researchMillion US Subscribers                                       ...
9/30/2011               Strategize• Must build your strategy based on your  specific context, customer needs, and  overall...
9/30/2011We emphasize apps… for now      Transactions by Mode (July, 2011)             13%                                ...
9/30/2011                   We provide value  • Access = transact from    anywhere  • Information = see what’s    happenin...
9/30/2011      Use pilots/prototypes• Each release follows these steps:  – Beta testing = small/refinement  – Employee pil...
9/30/2011 Mobile exceeds expectations                  Active Users 1st year goalExperiment with new methods• iPad Content...
9/30/2011      Key Lessons Learned• If you haven’t started yet, start  experimenting!• Pay attention to your customer need...
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Notes Version: Key Trends That Will Drive Marketing as Customer Preferences Changes

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Notes Version: Key Trends That Will Drive Marketing as Customer Preferences Changes

  1. 1. 9/30/2011 A Winning Mobile Strategy Dan Marks CMO, First Horizon @wdanmarks dmarks@firsthorizon.com Agenda • The Big Trend • Understand customer needs • Strategize • Launch! Refine. Repeat. • Key learnings The Big Trend - Smartphones Million US SubscribersSource: comScore 1
  2. 2. 9/30/2011Adoption growing faster than any other innovation Implications• Google reports that over 18% of searches on Black Friday were via smartphone• Over 20% of email is read on a smartphone today• A Visa study found the smartphone most inseparable device – ahead of wallet and keys• Pizza Hut expects half of their orders to come from mobile in just a few yearsUnderstand YOUR customers• Look at industry research• Talk directly to your target customers• Primary research• Look at third party reviews for competitor/category apps 2
  3. 3. 9/30/2011 Example industry researchMillion US Subscribers Smartphone owners are 5x more likely to use Mobile Banking Source: Forrester’s North American Technographics 7 Payments and Products Survey, Q4 2009 Understand specific needs Reviews provide rich insight Specifics will vary by category and goals • “App is great for checking accounts and moving money around.” • “App needs billpay” • “App doesn’t work on sprint EVO” 3
  4. 4. 9/30/2011 Strategize• Must build your strategy based on your specific context, customer needs, and overall value proposition• Common principles for success – Consider all sub-channels of mobile – Leverage experts – Get executive alignment/buy-in – Use pilots/prototypes Our Mobile Strategy• Focus on smartphone apps but support SMS/Mobile Web• Move FAST• Give customers real value• Ongoing refinement• Pilots / test & learn Focus on Smartphones Active Devices (July, 2011) 25% iPhone Blackberry Andoid 11% 62% Other 4
  5. 5. 9/30/2011We emphasize apps… for now Transactions by Mode (July, 2011) 13% App WAP SMS 82%Android & iOS are like Coke & Pepsi – but which is which? Give customers real value• Potential value drivers for features: – Access – Information – Service – Selection – Unique phone features (GPS, camera, etc.)• Understand how customers may be using third party mobile (ie Yelp, Foursquare) 5
  6. 6. 9/30/2011 We provide value • Access = transact from anywhere • Information = see what’s happening on accounts • Service = cheaper than IVR • Unique capabilities = – Location finder with GPS – Mobile Deposit with camera – More to come! Examples of unique value • Camera – Mobile Deposit • GPS – nRange Golf GPSFull Disclosure: I have an investment in the publisher of nRange Golf GPS Move Fast, Iterate • Selected partner with cloud-based delivery • Deployed first app in 82 days! • Ongoing releases based on customer feedback Release Release Release 1 2 3 6
  7. 7. 9/30/2011 Use pilots/prototypes• Each release follows these steps: – Beta testing = small/refinement – Employee pilot = next step, further refinement – Customer launch• Collect feedback and refine at each stage Test multiple approachesExample: Common promotion creative tested on two networks Network 1 Network 2 Click 2.7% 0.3% Through CPM $29.8 $3.5 Cost per $153 $146 conversion Understand your customers usage and profile Attribute Mobile vs Overall Index Rev/HH 118 Dep Bal/HH 78 Avg overall = 100 Loan Pen 143 Billpay 235 Avg Tenure 80 Avg Age 62 Target Mkt 103 7
  8. 8. 9/30/2011 Mobile exceeds expectations Active Users 1st year goalExperiment with new methods• iPad Content trials• Local Cash Rewards Mobile for lead generation• Mobile account openings• Click to call• Advanced engagement 8
  9. 9. 9/30/2011 Key Lessons Learned• If you haven’t started yet, start experimenting!• Pay attention to your customer needs• Test, learn, refine• Share and learn from best practices• It will be a fast ride! 9

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