It seems trying to predict the future is a very human trait. It speaks to both our curious and creative nature. However, the popular William Gibson quote “The future is already here — it’s just not very evenly distributed.” would suggest we don’t need to look too far. I felt this, when seeing the Webby Awards winner DOTA2 Championshipin 2017.
“Who turned out the lights?” was the concerned refrain that rang out across the hallowed halls of CES when the electricity decided to pack up in January.
“Where are my long johns?” was the concerned refrain that rang out at Barcelona airport when I arrived from the sun-dappled shores of Australia to the whispers of Storm Emma that stroked MWC this year – I mean seriously…I really did not pack the correct clothing for a Barcelona that saw the first snowflakes since 2010. Continue reading
Last week was the hotly-anticipated Mobile World Congress 2018 in Barcelona, the annual event bringing pioneers and inquisitive minds together to discuss all things mobile.
Unfortunately, this year the seasonal Spanish sun wasn’t on our side. However, we made the most of our Ogury Networking Garden which, despite the rain and even occasional snow, was a great success. The unpredictable weather made for an unforgettable product launch of our latest mobile data solution, Active Insights. People were huddled under branded umbrellas in the middle of a sprinkling of snow, but we were delighted to see that there was still a substantial and buoyant crowd to watch our founders kick off the next chapter in our company history.
Many advertisers are now looking to internalise their media buying processes, and numerous companies are being set up to offer advertisers a media buying service in the programmatic space. There are two possible routes here, as in any decision that involves using technology: buy or build your DSP. But firstly, let’s define what a DSP actually is. Continue reading
Remember the good old days? When you wanted to boost your organic traffic, so you embarked upon a UA campaign, knowing that you could rely on the organic multiplier to then increase your reach 1.5x or even 2x on a good day? Yeah, those golden days of bliss. Sadly, those days are gone.
Wait, what happened?
First off, organic app discovery is largely broken. The sheer amount of apps in the two major stores (over 2 million in both the App Store and Google Play) makes it nearly impossible for users to find your app in the hay stack, even if they happen to be looking for a similar one. With so many possibilities for every search term and keyword, the chances of a user landing on and installing your app are slim to none. Continue reading
Now that Smartphones are bedded into our culture, banking as we know it is on its way out
Banking as we know it, is on its way out. Traditional products, services and the branch are becoming redundant. It’s not time to call in the demolition teams yet, but there can be no denying that smartphones and their surrounding technology have completely changed the way younger people think about banking.
Mobile devices have changed us from a nation of owners to lifestyle livers.
A trend most evident in town high streets, where shops have closed down and turned into trendy restaurants and cafes because we no longer spend our time going from store-to-store with shopping bags. Instead, we sit on our sofas buying clothes and homeware on our smartphones.
Smartphones are saving us from the mundane tasks of life. Such as a weekend appointment to visit to your bank manager to open a new account, order a credit card or discuss a mortgage.
Mobile has disrupted the way we need to look at banking. No longer are users looking to create a relationship with a bank manager. Saturday appointments will be a thing of the past, when you can simply download an app and order a card to your door. An unpleasant process has been turned into a simple one.
Millennials are holding the Scythe
Banking and financial services are being driven forward the emergence of the Millennial generation, empowered by their devices. Millennials find no importance in building relationships with bank managers. They think of money, credit, pensions as utility services that they can carry around like their music. As house prices become less affordable and having a healthy pension to retire on is becoming less realistic, Millennials are saving to spend in the here-and-now, making life-long relationships with banks obsolete.
Smartphones and related technology are giving young people the technology they need to view financial products as utilities rather than relationships to be built. With the emphasis within the Financial sector and Fintech centred around making their products simpler, more accessible and user-centric, it’s easy to imagine the landscape of the physical bank being done away with very soon.
Challenger banks in the West such as Atom Bank and Monzo are already rethinking the relationships people have with their banks. Smartphones are at the centre of both of them. The implications of Fintech companies such as these go way beyond customer service and the physical context of a bank branch. Challenger banks are tapping into the lifestyles of their consumers and creating new services to improve and simplify their lives.
Exciting advances in Fintech are happening all over the world. Among a multitude of truly innovative companies, China’s WeChat allow users to split their bills with friends, Spixii, a UK company have created a Chatbot using powerful AI technology that will buy and manage all of your insurance policies through you, all through an app. Thirdly, StashInvest in the US allows customers to make and control investments from their smartphone app.
Similarly, to Challenger banks, all these services are turning a boring, complicated or tedious process into a simple utility task.
Technology is dictating
Mobile is not the only technology that has emerged and helped to change the face of banking. AR, artificial intelligence, voice UI, smart assistants have all changed our expectations of how we interact with faulting services. Technologies such as Chatbots, which are dramatically redefining the customer services industry and products such as the Amazon Echo illustrate where traditional banking models are failing.
They’re not evolving. They’re sticking to the same models and are not changing their approach with the changing values of their customers. If a bank sells you a credit card, it differentiates its product by offering you sub-products such as air miles, cash back and rewards. Whereas, modern technologies are becoming invisible and are only focussing on improving the lives of customers.
Customer centricity is key
Physical banks are a thing of the past. They’re a need from an age where we lacked technology to manage our money how we wish. Their death won’t be immediate, but as the values of the general population aligns to those common within millennials, they will disappear.
Why are Millennials so important in this? Often thought of as the neglected demographic, they focus more on utility and experience than ownership. Whereas they don’t own as larger proportion of the world’s wealth – as older generations die and incumbents are born with the same expectations of Millennials, they will have a stronger and more shaping influence on the world of finance.
There has never been a better time for big banks and financial players to think about customer experience and value innovation.
Picture the scene, it was a painfully hot Thursday, the post lunch lull. Everyone in the office was gazing out the window, complaining about the fact we were stuck inside working when we really should be outside enjoying the glorious British Summer. It seemed almost inhumane that we were not allowed to go and sit in a park and work from our phones. Surely it is possible to get what you need to get done, with just your mobile phone and no other resources at your disposal?? Continue reading
Effective performance marketing is data-driven by design, demanding marketers monitor and measure mountains of disparate data points and performance “signals.” But marketers can no longer compete on their knowledge of “surface” data such as the cost per acquisition grouped by ad networks and partners. To gain and maintain competitive edge performance marketers must strive to distil granular data, including creatives and sub-publisher information, into deeper insights. Continue reading
Mobile apps are at the centre of digital transformation and increasingly contribute to the success of businesses across nearly every industry. On average, we spend more than 2 hours day in apps — that equates to more than one month out of every year of our lives. There is no other medium that is as direct, as personal or as omni-present to meet your customer whenever and wherever they need you. Continue reading
Oliver Van Bilsen, Global Head of Digital – Retail & Lubricants at Shell, recently presented his thoughts on how the digital revolution is changing the face of retail at the MMA Forum. Here he expands on his thoughts and outlines how Shell is pushing innovation forward.
Digital consumers are different. Their shifting expectations are redefining retail and demanding new strategies to deliver experiences that attract new customers, boost loyalty and improve satisfaction. Continue reading