5 steps to avoid wasting your display advertising budgets

 

There is a myriad of advertising partners available to buy media and help mobile advertisers to reach their target audiences, and advertisers need to follow clear criteria to find the right ones. In the world of data driven advertising, it is a common (and logical) practice to distribute advertising dollars based on the cost per conversioneach partner is delivering, and those delivering the best price, or in other words, the best ROI, will get the bigger budgets. Continue reading

Has Mobile killed the bank branch?

 

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Neil Ballinger, Head of UX at Nimbletank

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.

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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.

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RELEVANCY + INSPIRATION + DATA: MEETING THE DAILY DEMANDS OF MOBILE CONSUMERS

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Ian James, General Manager International at Verve

For many, mobile devices have become a primary connection to the world — they teleport users from destination to destination throughout their day, at once utilitarian communication tools and personalized windows onto inspiring new experiences.

Today, there are two rising demographics of mobile influencers — a pair of generations that have never lived in a world without mobile. These Mobile Prodigies are born digital, growing up in a world of swiping, tapping, and scrolling. With so much to gain at their fingertips, they represent constantly evolving demands to which both advertisers and publishers must respond. Continue reading

How Mobile App Success Rests on Where Your Users Spend Their Time

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Paul Barnes, Territory Director Northern Europe and Middle East at App Annie

Apps have become one of the most influential devices in driving consumer behaviour, with over 900 billion hours spent in apps worldwide in 2016 and over 30 apps on average used per month. People now manage a myriad of different aspects of their lives with apps – a ubiquitous component to everyday life.

The reality is that, on a daily basis, the average consumer uses approximately 10 apps. By understanding how these apps are used, where consumers are spending their time and in which apps, mobile marketers gain a unique insights into behavioural trends of a highly influential audience. Continue reading

Mobile Commerce Engagement Grows As User Acquisition Costs Drop

Dennis Mink, VP of Marketing, Liftoff

Dennis Mink, VP of Marketing, Liftoff

Earlier this week Liftoff released our annual Mobile Shopping Apps report, highlighting the latest trends in mobile user acquisition and app engagement. The good news for ecommerce marketers is that as mobile purchases are on the rise, the cost to acquire new mobile shoppers has declined over the past 12 months.

As we inch ever closer to the holiday shopping season, marketers should take note of several important mobile shopping trends. August and early September is an opportune time to focus on new user acquisition. With mobile ad inventory costs at near lows for the year, marketers can acquire new users cost effectively, just ahead of the holidays. This is also an excellent time to test and optimize ad creative, before inventory costs shoot up. If you wait until October, you’ve already missed the window of opportunity as more competition ramps up spending, driving up costs for everyone. Continue reading

Mobile marketing:  Engaging Gen X,Y & Z

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Written by Jane Ostler, Managing Director, Media & Digital, Kantar Millward Brown

Kantar Millward Brown’s AdReaction: engaging Gen X, Y and Z study reveals vital insights into how marketers should use mobile, explains Jane Ostler, Managing Director of their Media & Digital practice.

Marketing communications are undergoing a seismic shift. Brand messages are slowly but surely moving away from the ad break and deeper into consumers’ lives, with much of this driven by the combined influences of younger audiences and mobile device usage.

AdReaction reveals that 74% of Gen Z (16-19 year olds) globally spends more than an hour a day on mobile devices, more than any other generation.

In this world of declining ad receptivity, brands must find new ways to reach consumers beyond the confines of traditional advertising, and need to use mobile in more creative ways than ever before.  Continue reading

How Artificial Intelligence can aid retailers

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Pete O’Mara Kane, VP Sales at LoopMe

90% of retailers reported a drop in foot traffic in the last 5 years

This week LoopMe launched our Retail Foot Traffic Research. We were looking to see the impact of declining foot traffic to stores, using a working hypothesis developed from insights from the British Retail Council who found that there was a 1% drop in foot traffic registered across the UK.

Almost 90% of the 250 retail decision makers in UK reported a drop in foot traffic over the last 5 years and 93% reported a loss in store revenue. Meanwhile, a record £133bn was spent online in 2016, a growth of 16% in one year. Continue reading