Interactive Mobile Messaging: A Next Generation Communication Strategy that Works

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Learn why interactive text messaging provides greater value and improves customer service through low-cost, actionable conversations that are fully-automated.

Transcript of Interactive Mobile Messaging: A Next Generation Communication Strategy that Works

  • 1. Interactive Mobile Messaging: A Next-Generation Communication Strategy That Works
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  • 2. Why Interactive Text Messaging Is Critical To Your Organization
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  • 3. Why Alerts Matter
    Alerts can serve as the customers financial nervous system and touch almost every aspect of banking.
    Alerts will introduce customers to mobile banking and payments.
    Financial alerts are conversation-starters with customers.
    Timely alerts can deputize the customer.
    Alerts can build customer trust.
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  • 4. Javelins Five-Year Forecast for Financial Alerts
    62 Million Online Households Will Receive Alerts by 2014
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  • 5. Bullish Signs for Mobile Banking
    Ubiquitous devices.
    More banks are offering it.
    Consumers are switching banks for it.
    8% of switchers in first quarter!
    Smartphone frenzy.
    Affordable data plans.
    Demand for downloads.
    Range of products and
    price points.
  • 6. 2 of 3 Consumers Consider Alerts Useful
    Usefulness of Alerts to Detect Fraud and Manage Finances
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  • 7. Most Consumers Want to Share Responsibility for Protecting Their Accounts
    Consumer Attitudes for Who Bears Primary Responsibility for Account Security
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  • 8. All Generations View Alerts as Effective Fraud-Fighting Tools
    Usefulness of Financial Alerts to Prevent Fraud (by Generation)
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  • 9. What Is Slowing Consumer Adoption Of Mobile Alerts?
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  • 10. Seven Critical Flaws of Alerts
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    Not useful enough
    Not woven into everything an FI does
    Headache to set up and tailor
    Not timely enough
    Not actionable enough
    Poor marketing
    Not safe enough
  • 11. Early-Stage Volatility: Preferences for Alerts Shift Over Time
    Most Valuable E-Mail or Text Alerts (2007-2009)
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    Consumer ratings for four alerts plunged 8-16 percentage points from 2008.
  • 12. Hispanics and Asians are Growth Segments; Multilingual Programs Help Remove Barriers to Entry
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    90%
    85%
    80%
    1960
    70%
    67%
    2005
    2050
    60%
    50%
    47%
    40%
    29%
    30%
    20%
    14%
    13%
    13%
    11%
    9%
    10%
    5%
    4%
    1%
    0%
    White
    Hispanic
    African
    -
    American
    Asian

    2010 Javelin Strategy & Research
    U.S. Demographic Projections
    Pew Research Center U.S. Population Projections 2005 2050 February 2008
  • 13. How to Identify Which Mobile Alerts Can Add Customer Value And Reduce Costs
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  • 14. Consumers Desire to be Contacted Through Various Channels
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  • 15. Six Segments That Show Significantly Higher Use of Alerts
    Usage of Alerts in Previous 30 days (By Market Segments)
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    iPhone users are pace-setters once again.
  • 16. Moneyhawks are Heavy Users of Banking Services
    Figure 6: Services Used in Past 30 Days Cumulatively (Moneyhawks vs. Consumers)
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    Moneyhawks
    • They receive alerts at least quarterly.
    • 17. They comprise 23% of respondents.