50 questions about your credit union’s digital marketing future for 2014 and beyond
by. Julie White and Scott Schablow
Here are 50 practical questions to ask — with answers — when rethinking (or kick starting) your financial institution’s digital marketing strategy in 2014 and beyond.
Banks and credit unions are readying themselves for the digital age of banking, with a stronger focus on technology-dominated products. While many have scrambled to throw something out there, few are thinking about how to differentiate their organization’s digital products from their competitors. Most are simply trying to figure out how they can gain a short-term competitive position in their market and also capture long-term customer loyalty.
In 2014, retail banking challenges in the US include dealing with pure play digital competitors, digitally empowered customers demanding a new set of products and services and developing a smart transition from branches to digital customer care centers.
What’s the bottom line for digital success? Don’t just dabble in digital. Take the time to read this Q&A and then launch a digital lifestyle experience as a market leader with highly branded, customized and useful products and services that meet the needs of your customers’ digital lives.
Mobile: The New Dominant Platform
Use of mobile banking has increased 50% since last year and nearly one-third of US consumers (32%) now do mobile banking at least once a month according to a recent Accenture survey. Mobile will soon be your bank’s central hub of service delivery and customer engagement. Surveys show that 40% of customers (of all ages) now factor mobile solutions into why they choose their primary financial service institution. By 2014, it is estimated that there will be 45 million mobile banking users, a number that is growing daily.
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