First, a confession: This is not an original headline, but the title of a book written in 1963 by one of the most famous ad men of all time – David Ogilvy. My advertising career began at J. Walter Thompson, at that time the largest agency in the world. In those days, I loved the Ogilvy book, considered to be the Bible for the advertising profession. As a newly-minted … [Read more...]
Will smartphones replace smart bankers?
A check arrives in the mail. Your customer, still in his/her pajamas and down with the flu, needs to deposit those funds. Thanks to smartphone technology and Check 21 legislation, the ailing client can get that done with ease and has been legally able to do so for more than a decade. But this relatively recent technological advance begs a critical question for the future of … [Read more...]
Millennial’s Matter to Bank Marketing
A generation ago, bankers could count on young people –piggy banks in hand -- riding their parents’ coattails to the neighborhood branch. As the years passed a kid who opened a savings account at 10 opened a checking account or a student loan at the same bank before heading off to college at 18. In a few years, that meant a mortgage, a college fund for their children, or an … [Read more...]
Banks and Mobile Banking: Fish or Cut Bait!
As we say in the south, either fish or cut bait. When it comes to mobile banking, banks had better get on board or start looking for a closed sign. In the last couple of months, I spoke at the Nebraska Bankers Association Marketing Conference and at the Wolters Kluwer Financial Services Users Summit. I was shocked at the number of banks that said, “We’ll never offer … [Read more...]
And The Mobile Banking Winner Is…Google Wallet?
There is a great article in the latest edition of FastCompany.com titled Mobile Melee. It describes the companies and industries that are fighting it out to turn smart phones into “wallets” and who could ultimately control the multi-trillion dollar U.S. payments industry. The interesting thing about the article is that it predicts that banks will be the first ones out of … [Read more...]