85
DIGITAL DISRUPTION & WHAT IT ALL MEANS

DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

  • Upload
    others

  • View
    4

  • Download
    0

Embed Size (px)

Citation preview

Page 1: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

DIGITAL DISRUPTION & WHAT IT ALL MEANS

Page 2: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Today’s Agenda

• Consumer online behavior • New competition • Mobile first world • Digital marketing and communication • The power of data • Key takeaways

Page 3: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

UNDERSTANDING CONSUMER BEHAVIOR

Page 4: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We’re Constantly Connected

Page 5: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We Live In Moments

Page 6: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We Hold Our World In Our Hands

Page 7: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Millennials

Page 8: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital
Page 9: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We Share Everything

Page 10: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We Want Digestible, Valuable Content

Page 11: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We Want Personalization

“By 2020, customer experience will overtake price and

product as the key brand differentiator. The winners will be

companies that consciously and deliberately work at

anticipating the future needs and create an experience that

customers’ value.”

Walker’s Customers 2020 Report

Page 12: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We Adapt To New Technologies

Page 13: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

We Expect Everything To Be Connected

Photo Credit: OrbiWise

Page 14: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

NEW COMPETITION

Page 15: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Source: Image borrowed from TomLoverro.com Nov. 16, 2014

Page 16: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Source: Image borrowed from TomLoverro.com Nov. 16, 2014

Page 17: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

“We are in a new era for Wells Fargo. Historically, when people have asked, ‘Who are your competitors?’, we would answer Chase or Bank of America. Today, we

would answer Google or Amazon.”

- Jamie Moldafsky, CMO

Page 18: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Accenture Survey of 4K+ Retail Customers

• 27% of consumers would consider a branchless digital bank if they were to leave their current provider

• 71% of U.S. consumers consider their current banking relationship as merely transactional

• 51% of consumers want their bank to proactively recommend products and services (55% said it would increase their loyalty)

• 48% of consumers are interested in a spending analysis that is both real-time and provides a ‘forward view’

• 49% of consumers would bank with a company they currently use but that doesn’t offer banking services (77% of millennials, 58% of those 35-54, 28% of those 55+)

Page 19: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital
Page 20: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

IT’S A MOBILE FIRST WORLD

Page 21: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Mobile Is The Preferred Device

Page 22: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Mobile Surpassed Desktop

Page 23: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Google Update 4.21.15

#MOBILEGEDDON

Page 24: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Responsive Websites

Page 25: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Search Is The Start Point

Page 26: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Mobile Banking Exceeds Branch Banking

Page 27: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

DIGITAL COMMUNICATION

Page 28: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Fis Are Spending More Digitally

Page 29: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Digital Ad Spend Will Surpass TV 2017

Page 30: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

1. Developing content strategies

2. Maximizing distribution & conversations with social

media

3. Increasing visibility on search engines (paid &

organic)

4. Targeting audience segments with online and

mobile display

5. Sending timely and relevant emails

Top 5 Digital Communication Strategies

Page 31: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

1. Content

Page 32: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Every Minute

• Facebook users share nearly 2.5 million pieces of content

• Twitter users tweet nearly 300,000 times

• Instagram users post nearly 220,000 new photos

• YouTube users upload 72 hours of new video content

• Apple users download nearly 50,000 apps

• Email users send over 200 million messages

• Amazon generates over $80,000 in online sales

Page 33: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Your Goal Should Be To

Help first. Sell second.

Page 34: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Outline Your Plan

Page 35: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Keyword Research

Page 36: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

• Website content

• Newsletters

• Social content

• Photos

• Whitepapers

• Videos

• Emails

Examples of Content

• Infographics

• How-to-guides

• Online press/news

releases

• Blogs

• Podcasts

• Advertorials

Page 37: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Audit Existing Content

Inventory

• What content is already available?

• How can I repurpose existing content?

Quality

• Is the content current & of high quality?

• Do any of it need to be updated to a more current format?

Relevancy

• Is it relevant to my audience?

• Does it meet the needs of my audience?

Gaps

• What needs to be created?

• Determine priorities.

Page 38: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Build a Content Editorial Calendar

Page 39: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Make Your Content Accessible

Page 40: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

2. Social Media

Page 41: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

1. Increase brand awareness

2. Highlight community involvement

3. Be more transparent and humanize your brand

4. Improve brand loyalty

5. Deepen customer relationships

6. Gather customer insights

7. Develop more business opportunities

8. Increase website traffic

9. Improve your search engine rankings

10.Target the audience you’re looking for

Why Social Media?

Page 42: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Mission Focused Campaigns

• Supported food banks in PA, MD, NJ, W. Va. • Nov. 1 – Dec. 31

• Each like/share/comments on the daily Stellar

Deed = 5 meals donated

• 361,000+ meals (plus previous 830,000)

• Received tons of local press

• Social impressions: 2,021,262

• Reach: 1,552,796

• New Facebook fans: 9,029

• Total engagements (likes, comments, shares): 13,774

• 2.13% lift in Stellar account openings (as compared to the same time period in 2012).

Page 43: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Highlighting Community Involvement

Page 44: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Fan Engagement Campaigns

Page 45: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Building Loyalty

Page 46: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Providing Customer Service

Page 47: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Prizes & Giveaways

Page 48: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Offering Product Specials

Page 49: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Being Visible at Moment of Relevance

Page 50: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Business Development

Page 51: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Sales Tool For Lead Generation

Page 52: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Advertising

Page 53: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

1. Defined goals and objectives

2. Executive buy-in and an organized social media committee

3. Risk assessment (operational, reputational, compliance)

4. Social media employee policy, training and resources

5. Content editorial calendar

6. Fan acquisition and retention strategies

7. Social media management/monitoring tool

8. Social media archiving tool

9. KPIs and reporting capabilities

10.Marketing support

What You Need To Succeed In Social

Page 54: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Be Smart & Establish The Following

Source: CohnReznick June 2014 Whitepaper

Page 55: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

3. Search Marketing

Google - 64%

Microsoft - 21%

Yahoo - 12%

Other - 3%

Page 56: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

The process of gaining traffic and visibility from search

engines through both paid and unpaid efforts. It

encompasses both SEO and SEM.

SEO – Search engine optimization. It is the process of

getting website traffic from the free/organic search results

SEM – Search engine marketing. It is the process of gaining

website traffic by purchasing ads on search engines.

Moment of Relevance

Page 57: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

SEO Tips

• Use Webmaster Tools (xml sitemap, robots.txt, redirects, site errors, links, search queries, etc. )

• Mobile optimization

• Focus on quality content

• Keyword research – long form

• Be descriptive in headers and meta tags

• Local SEO - Geographic-based searches

• Don’t be afraid of lengthy content, but understand mobile needs to be shorter

• Gain authority through links & social signals

• Consider load time

• Use a simple and logical architecture

• Use simple and descriptive URLs

• Consider format and load time, esp. for mobile

• Manage consistent content on online directories

• Use Alt tags on all images

• Get quality inbound links

• Understand social signals

Page 58: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Annual Search Pattern On Finance Terms

Page 59: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

SEM Tips

• Conduct thorough keyword research

• Group keywords into specific themes

• Set up separate mobile campaigns

• Use site links and location extensions

• Title case in ads

• Use Keyword Insertion in ads

• Bid on competitors

Page 60: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Google My Business

Page 61: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

4. Online & Mobile Display w/ GDN

• Google Display Network is made up of over 2,000,000 websites that reach 92% of Internet uses worldwide

• Test various ad formats – text, image, video and mobile

• Ad scheduling, above-the-fold, frequency capping and exclusions are all available

• Lots of targeting options—contextual, placement, remarketing, interest categories, topic targeting, geographic, and demographic

Page 62: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Targeting Options Within GDN

• Contextual Targeting

• Placement Targeting

• Remarketing/Retargeting

• Interest Categories

• Topic Targeting

• Geographic

• Language

Page 63: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Display Example on GDN

Page 64: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Contextual Example

Page 65: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

5. Email

Page 66: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Onboard New Customers

Page 67: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Email Dashboards

Page 68: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Utilize Drip Campaigns

Page 69: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

GETTING COMFORTABLE WITH AND USING DATA

Page 70: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

NOOO! ANYTHING BUT DATA!

Page 71: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Meet Paul

• Has a checking account with your bank

• Comes into the bank once a week to deposit his check

• Is looking to buy his first home with his expecting fiancé, Meg (who doesn’t bank with you)

• Uses his mobile to pay bills • Carries a high interest rate

car loan with another bank

Page 72: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Data Can Be REALLY Powerful

Page 73: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Two Main Types of Data

Transaction Data: The result of a transaction. Can be financial, logistical, or work-related and always has a time dimension, a numerical value and refers to one or more objects Interaction Data: Interactions of customers, partners, and competitors that affect your organization. Social discussions, blogs, reviews, etc.

Page 74: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Common Challenges With Using Data

• Lack of technology/software • Trying to merge silos of data • Extraction of data is a mess • Lack of time and human resources • Fractional view of each customer • Fragmented/missing data • Manual measurement of performance • Tactical vs. strategic marketing (stuck in our ways)

Page 75: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

3 Best Practices Among Modern Marketers

Data Driven Marketing (DDM): Marketing insights and decisions that arise from the analysis of data about or from consumers.

Cross-channel Attribution: A method of assigning credit to a particular marketing-driven interaction or other brand-imposed touchpoint.

Marketing Automation: Software platforms and technologies designed to more effectively market on multiple channels online and automate repetitive tasks.

Page 76: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Benefits of the 3 Best Practices

• Improve organization of data and campaigns • Increase efficiency of daily tasks • Build a holistic view of customers • Identify opportunities • Increase relevancy of campaigns • Strengthen internal collaboration • Optimize results across all channels utilized

Page 77: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

More Budget Will Go To Tech Investments

Page 78: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Know What You Want To Measure

• Conversions

• Sales

• Clicks

• Leads

• Traffic

• Engagement

Page 79: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Determine KPIs & Metrics

• Digital marketing ROI (Total Revenue Attributed to Digital – Total Cost of Digital Marketing)/(Total Cost of Digital Marketing)

• Conversion rate (Form Submissions + Tracked Calls + Tracked Emails)/(Total Website Visitors) = Conversion Rate

• Cost per lead (Total Spent on Campaign)/(Total # of Leads)

• Sales (Total Revenue Attributed from Digital)/(Total Monthly Sales)

Page 80: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Cross Channel Attribution

Page 81: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Example of Measuring ROI

What you know: • Approximately 1 in 20 people who submit photos become customers

• Average LTV for customer = $200

• Value Per Submission = $10 ($200/20)

• Total Photo Submissions Per Channel: Facebook – 250; Twitter – 100; Instagram – 150

• Benefits Per Channel: Facebook $2,500; Twitter - $1,000; Instagram - $1,500

Social Channel Creative & Advertising Fees

Labor Hours Labor Cost ($30/hour)

Cost/Channel

Facebook $500 20 $600 $1,100

Twitter $0 10 $300 $300

Instagram $250 15 $450 $700

Channel Benefits Costs ROI

Facebook $2,500 $1,100 127%

Twitter $1,000 $300 233%

Instagram $1,500 $700 114%

(Benefits – Costs) X 100

Costs

Page 82: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

NEXT STEPS

Page 83: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

Key Takeaways

• Do an audit of how you appear on mobile, as well as if/how you’re found by mobile searches

• Keep an eye on nonbank competitors and why users are adopting their product

• Have a plan to invest more into technology enhancements … for both external & internal benefits

• Help create relevant content for your audience • Utilize more digital channels to reach your audience • Use data to have a more holistic view of your

customer(s) • Help marketing measure and optimize results by

identifying your KPIs

Page 84: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital
Page 85: DIGITAL DISRUPTION & WHAT IT ALL MEANS Info/Banking School/2016/Course… · Mobile Banking Exceeds Branch Banking . DIGITAL COMMUNICATION . Fis Are Spending More Digitally . Digital

THANK YOU Amber Farley

[email protected]

@amberfarley

Financial Marketing Solutions

www.FinancialMarketingSolutions.com

@fms4banks

615.591.2073