Embed Size (px)
Citation preview
Bank Marketing in an Image Driven Culture
ANDREW DAVIDSON, SVP/CHIEF INSIGHTS OFFICER Mintel Comperemedia
2
Mintel Knows
3
Agenda
Without Words Here Come the iGeneration
Developing an Image Driven Omnichannel
Strategy
4
Without Words
5 Source: Mintel Trends
The way in which people communicate is changing. Sentences are shortening and are in some cases even being replaced with emojis, GIFs, and pictorial representations that can be understood quickly and by a global audience.
Without Words
6
Being effective at social media, whether for business or personal use, means capturing people who have short attention spans. They’re only a click away from a picture of a funny cat, so you have to make your thing more compelling than that cat. And that can be a high bar.”
– Alexis Ohanian, Founder / Reddit
Consumer Attention Spans are Shrinking
“
7 7
8 Base: 2,000 internet users aged 18+ Source: Mintel Reports : Communicating Through Imagery, Dec 2015
Communicating with Images is Fast and Fun
9
The Evolution of the Selfie-obsessed Generation
Familiarity with Visual Communications
*Also known as Japanese emoticons or “face mask” Q: Which, if any, of the following are you familiar with? Base: 2,000 internet users aged 18+ Source: Mintel Reports : Communicating Through Imagery, Dec 2015
10
The Communication Explosion
Online Communication Behavior in the Past Month
Q: Tinking about your online or mobile communication, which of the following have you done in the past month? Base: 2,000 internet users aged 18+ Source: Mintel Reports : Communicating Through Imagery, Dec 2015
11 Source: Tinder/Buzzfeed News
Sending a GIF on Tinder is 30% More Likely to get a Response
12
The Future According to Mark Zuckerberg
Text Photos Video AR/VR Telepathy
13
Snapchat Spectacles Now Available for All
23% of 25-34-year-olds said they have used a live streaming service
72% of consumers shared photos/videos on a device in 2016 up from 64% the prior year
Source: Mintel Reports: Digital Trends: Spring, March 2016
14
Color-coded Commerce: France Rolls Out Color Coded Food Lables
15
Samsung’s Family Hub Refrigerator: View Fridge Photos
16
ABN Amro: Visual Banking
“Customers recognize pictures better when searching for transactions, selecting their own accounts and in their search for a beneficiary in the Address Book” - Jessica Niewiara, ABN Amro
Director, Digital Development & Interaction
17
HSBC Adds “Selfie” Verification for New Business Customers
"We also expect the convenience and speed of a selfie to become the verification method of choice for our customers who no longer need to visit a branch to complete the process” - HSBC's global propositions head, Richard Davies
18
Emoji Banking Passcode?
19 Source: Lendedu
Venmo: Not Just About Payments
20
Capital One Trials Chatbot that Speaks Emoji
23% of Millennials say online chat is essential
21
Images to Avoid
United Airlines: Lego Edition
Elizabeth Warren Calls for Wells Fargo CEO’s Resignation
Nationwide TV coverage plus more than 5 million views on YouTube (of
the original United video not the Lego edition)
Nationwide TV coverage plus more than 1 million views on YouTube
22
Here Come the iGeneration
23 Source: US Census Bureau, interim population projections released 2014 and annual population estimates/Mintel
This new generation Mintel calls the iGeneration begins in 1995 and numbers roughly 54.6 million 9-21 year-olds accounting for 17% of the US population in 2016
The iGeneration Has Started to Enter Adulthood
Seminal moment
?
Share of US Population by generation , 2016
24
iGens “Speak” a New Language – Mostly Made of Pictures
24
Q: Which of the following have you done? Base: 1,500 internet users aged 9-17, 209 internet users aged 18-21 Source: Mintel Reports: Marketing to the iGeneration,, April, 2016
25
Instagram and Snapchat are the Favored Social Platforms for iGens
“ The ‘Instagram Generation’ now experiences the present as an anticipated memory”
– Professor Daniel Kahneman
“ She isn’t preserving images. She’s talking”
– Evan Spiegel, CEO, Snap Inc.
26
Humor and Music are Key Drivers of Social Media and Ad Enjoyment for iGens
Q: Which of the following words or phrases describe social media posts /advertising that you enjoy? Base: 1,500 internet users aged 9-17; 209 internet users aged 18-21 Source: Mintel Reports: Marketing to the iGeneration, April, 2016
27
Snapchat Filters Offer Brands a Fun Way for Consumers to “Wear” the Brand
Gatorade tweeted out the GIF of the Snapchat filter and by the end of the day, the sponsored lens had reportedly been viewed over 100 million times
Source: http://blog.hubspot.com/marketing/snapchat-best-brands#sm.0001pqff8jcrhd1exc51dju4kjy4m
28
Do Banks Belong on Snapchat?
29
iGens “Love” getting Mail
83% of iGeneration consumers say they “love getting stuff in the mail”
Base: 1,500 internet users aged 9-17, 209 internet users aged 18+ Source: Mintel Reports: Marketing to the iGeneration, April, 2016
30 30
Alternative Realities
50% of UK consumers are already aware of VR headsets and 31% would be interested in using them, rising to 53% of 16-24-year-olds
64% of Chinese consumers are interested in in-store experiences centered around virtual reality headsets
20% of US consumers say that they are planning to buy or are interested in buying VR hardware
Source: Mintel Reports, Luxury Goods Retailing – International, August 2015, Gaming Consoles – US, September 2015
31
Citizens Bank Makes the Most of the Pokemon Go Craze
32
Samsung Opens 837 in NYC
“ First-of-its-Kind Cultural Destination, Digital Playground and Marketing Center of Excellence”
33
CommBank Launches VR Pilot in 24 Australian Schools
33
34
• Rachel Levin aka RCLBeauty101 • Born 1995 • Number one social media influencer under 21
in the world (Zefr's) • Household name among teens
The Role of Influencers
“I make different types of videos
ranging from DIYs, life hacks, comedy, skits and anything
else I enjoy making”
35 Source: Mintel Reports : Smart Homes, April 2016
iGens to Champion the Connected Home
46% of iGens would like to control the household environment with their phones vs. 35% of millennials
46% of iGens would like to use their phones as a remote control vs. 31% of millennials
36
Life is becoming seamless and smarter thanks to major advancements in artificial intelligence.
Life in Sync
37
Developing an Image-driven
Omnichannel Strategy
38 Source: Mintel ePerformance/eDataSource as of 10/10/16
The Emoji Effect Date Subject Read Rate Volume
03/22/16 Want to get up to $300 back? 28.7% 344k
03/22/16 Want to get up to $300 back? 19.0% 387k
04/22/16 [REDACTED] Want to get up to $300 back?
21.5% 720K
The Incentive Effect Date Subject Read Rate Volume
06/16/16 Want to get up to $150 back? 44.5% 495K
06/16/16 Want to get up to $250 back? 46.4% 376K
Using Emojis can be Effective
39
B&Q Delivers the Future of Email with a Mailable Mircrosite
Source: Litmus
40
BBVA Compass Website Redesign with New “Visual” Look
“ Distinctive visual look that's designed to be open and simple and inspire engagement”
41
Visual Story-telling in Direct Mail
Source: Mintel Comperemedia
42
Visual Story-telling Across Channels Email Direct Mail
Source: Mintel Comperemedia
43
Visual Story-telling in the Branch
Bank Branch of the Future
American Banker Image courtesy of Bank of America Newsroom
44
Visual Story-telling via PFM Tools
Monthly Snapshot Spending Trends
Subject: See where your money is really going
Source: Mintel ePerformance/eDataSource as of 2/27/17
45
Visual Story-telling via PFM Tools
“ Many people believe that large one-time expenses can throw their budgets off track. But it's actually the everyday purchases – coffee drinks, smoothies, clothing items – that tend to be a problem area. The intent of this fun and insightful tool is to raise awareness for consumers about spending habits that may be keeping them from attaining their savings goals.”
– Andrea Riley, Ally Bank, CMO
46
Use of Imagery In Language
Walmart MoneyCard Vault Discover Freeze it
47
48 45
54 50
25
48
All Large National Bank Regional Bank Community Bank Online Only Bank Credit Union
Half of Consumers Have not Downloaded Mobile Banking Apps
% of Consumers who Haven’t Downloaded a Mobile Banking App
Base: 1,907 internet users aged 18+ who have a checking and/or savings account Source: Mintel, Mobile Banking, US, September 2016
48 Source: Pathmatics
Citi Relaunches Citigold App with YouTube Video Ramp Up
Site 2016 Share of Spend
2017 YTD Share of Spend
YouTube 51% 63%
Business Insider 0% 18%
Bloomberg 30% 9%
New York Times 9% 7%
CNN 7% 0%
Others 3% 2%
TOTAL SPEND $3.5M $11M
49
Citigold YouTube Video Ads Focus on Facial Recognition
Source: Pathmatics
50
Implications for Marketers
Lead with image-rich stories
Spot trends/learn from influencers
Use images to make life easier
Be authentic to your brand
Connect with consumers using visual language
