Mobile in the banking context, mobile marketing and a case study of how SpareBank 1 quick fixed mobile without doing a complete reveamp of their website. Held at the 2nd Annual Financial e-Marketing Forum in 25th September in Amsterdam (Title inspired by Scot McKee's brilliant book Createive B2B Branding (no, really))

1. Quick fixing mobile (no, really)
Haakon Jensen
Program Manager Digital Business Development
SpareBank 1 SMN / SpareBank 1 Alliance

3. SpareBank 1
The second largest financial group in
Norway - in terms of assets - with good
profitability (ROE ~12%)
Total assets in bn NOK
(1 USD = ca 6 NOK)
2.523
848
578
238
203
350 branches

4. NORWAY – THE SWEET SPOT FOR DIGITAL DEVELOPMENT?
Internet
Online banking
Penetration
Penetration
45%
2000
73%
2011
Penetration over 18
92%
2005
Mobile
Internet in every household
17%
2000
69%
79%
2005
2011
World class penetration
Kilder: Dagligbankundersøkelsen 2011, FNO/TNS Gallup og Post og Teletilsynet
68%
2000
92%
99%
2005
2011
1,1 cellphone per norwegian
4G in cities

5. MOBILE
A part of everyday life in Norway
Feeling when you don’t have your mobile?
73% 14%
Panic
71%
Searched for service
or product on mobile
Desperat
7%
Sick
59%
6%
Relief
Uses mobile every day
Sources: Google, Dagbladet, TNS Gallup, combined by SMN
69%
Uses mobile content

6. 01 MOBILE IN THE BANKING CONTEXT
Focus on banking in the mobile channel
02 MOBILE MARKETING
How to sell banking in the mobile channel
03 CASE STUDY: QUICK FIXING MOBILE
What did SpareBank 1 do

7. TECH RELATED CHALLENGES REQUIRE NEW THOUGHTS
The industry struggles to embrace new technology
Technological
development
Regulatory
tsunami
Financial
services
Lack of
digital competence
Source: KPMG
Outdated solutions
commit and binds capital

8. THE AVERAGE C-SUITE EXECUTIVE…

9. WE’RE ALL DOING MOBILE – IT’S A NO-BRAINER…

10. OUR MOBILE BANK: SAME APP, DIFFERENT WRAPPING

11. Mobile bank is dead
- long live the mobile bank
TODAY
FUTURE
Physical bank
Mobile bank
Online bank
BANK

12. SPAREBANK 1 WITH FIRST-MOVER ADVANTAGE
2010
Check balance
1
st
mover
2011
Simple access
1
st
mover
2012
for SME’s
1
st
mover
2013
for children
1
st
mover

13. PAYBACK TIME…
Mobile bank logins reported by Norwegian banks
3.9m
+212%
1.2m
0.85m
0.18m
Source: Mobile bank statistics SpareBank 1 mai 2013, Cicero

14. Million logins
MOBILE BANKING BIGGER THAN ONLINE BANKING
At SpareBank 1
5
4
Online banking
 Used by 33 % of our customers
3
 Avg. customer uses it 20 times/month
2
 10 % are using only the mobile bank
1
Mobile banking
 More satisfied customers!
0
Nov-11
May-12
Nov-12
May-13

15. So we’re all set for the future then?
Err... no.

16. 01 MOBILE IN THE BANKING CONTEXT
Focus on banking in the mobile channel
02 MOBILE MARKETING
How to sell banking in the mobile channel
03 CASE STUDY: QUICK FIXING MOBILE
What did SpareBank 1 do

17. SNAPSHOT CONSUMER BEHAVIOUR
Mobile is of growing importance
Gross TV consumption stable
Rapid growth in internet &
mobile consumption
Demands focus on
both traditional & new
digital media channels
Web-TV & streaming (Netflix)
replaces traditional TV in 15-30
segment
No obvious substitute
channel to TV on
emotional messages
Financial services 3rd biggest
online purchase category
Demands IT investments
and changes in internal
processes & mindset

18. The increasing importance of digital channels leads to increased
complexity and changes the centre of our marketing focus

19. FROM TV TO CONTENT - IS KING
Content through a variety of channels being key to success
OUR MESSAGE
• Whom is it for?
• What data do we have on
the customer group to
make the message
relevant?
• How do we say it?
• How do we present it in
different channels?
• Continuous tuning and
optimalisation on message
& channel placement
through web-analytics

20. FROM BRANCHES TO GOOGLE
Customer journey starts online – and often on mobile
FORMER CUSTOMER BEHAVIOUR
TODAYS CUSTOMER BEHAVIOUR
78 %
do research online prior to
purchase of financial services
71 %
have conducted a mobile search
for a product or a service
51 %
have purchased through a
computer or a physical outlet
after doing a mobile search
Sources: Google Consumer Barometer in collaboration with TNS Gallup and IAB;
Boston Consulting Group (2012), Ipsos MediaCT –undersøkelse for Google, 1Q 2012

21. WE MUST CONSIDER CUSTOMERS AND CONTEXT
BORED NOW
REPETITIVE NOW
URGENT NOW

22. VERY MANY WEBSITES ARE MOBILE FRIENDLY…

23. BUT BANKS? NOT SO MUCH…
Some are!

24. Simple solution:
Do a responsive website
Mhm..

25. TO SUM UP THE CHALLENGES FACING MOBILE MARKETING
THE CUSTOMER
Customer journey starts online
with the orientation phase: 78 %
do reasearch online pre-purchase
Customers purchase online –
both on desktop and mobile
Customers use multiple screens
during the purchasing process
THE FINANCIAL SERVICE INDUSTRY
Everything technology related in
banking is capital intensive
Technology is evolving rapidly
Lack of digital strategic understanding

27. 01 MOBILE IN THE BANKING CONTEXT
Focus on banking in the mobile channel
02 MOBILE MARKETING
How to sell banking in the mobile channel
03 CASE STUDY: QUICK FIXING MOBILE
What did SpareBank 1 do

28. SPAREBANK 1 BEST IN THE BUSINESS ON MOBILE IN NORWAY

29. OR AT LEAST ON APPS…
+
Mobile banking larger than
online banking
-
No mobile friendly hub
enabling market
communications to our
customers
Many apps but no mobile
friendly app repository

30. OUR MOBILE ADS WERE WASTED…
+
Around 30 % of Norwegian
banner ads are mobile
+
Financial services top three
most popular search topic on
Googles mobile search
Difficult to convert mobile
users

31. OUR MOBILE APPROACH WAS BROKEN

No mobile friendly site to communicate with our
customers, as of December 2012.

A redesigned responsive website was not
percieved feasiable within the next two years.

Looking at mobile growth; could we wait for a
complete website redesign?

32. BRING TO MARKET A MOBILE FRIENDLY SITE – QUICKLY
Goals for our new mobile website
TRAFFIC SOURCES
 Mobile ads
 Banner in the app
 Search engines
 Visitors (web)
1
Lead generation to call centre
2
Be accessible on mobile channel for new and existing
customers with relevant content visible in search
3
Increased distribution of our mobile applications

33. LETS NOT DO IT THE WAY WE ALWAYS DO IT-PROJECTS…

34. TWO DELIVERABLES: MAKE IT SIMPLE
1
CAMPAIGN LANDING PAGES
2
THE MOBILE WEBSITE

35. WE CONNECTED OUR MOBILE UNIVERSE

36. Banner in mobile bank app
Banner on mobile site
Ads

37. TAKEAWAYS

GO MOBILE

CONTINIOUS TWEAKING

FROM 360 DEGREES TO 24/7 MARKETING

EXPERIMENT & LEARN
Get started with mobile marketing even if you can’t do it all
Utilize the high number of views to always tweak the performance
Different devices used throughout the day, make channels complement each other
Then apply and experiment again

38. QUESTIONS?
E-MAIL
haakon.jensen@smn.no
TWITTER
@HaakonJensen

39. THANKS FOR LISTENING
E-MAIL
haakon.jensen@smn.no
TWITTER
@HaakonJensen