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Performance Marketing Review: Banks & Customer Experience

Nov 07, 2016

Money Notes

This week, all eyes are on tomorrow’s U.S. election. While there will be plenty of political-related content to read in the coming days, we’re here to get your day started with a marketing focus. Leading our roundup of recent performance marketing, partner marketing, and digital marketing industry news, reports, and insights is an interesting take on customer experience in the banking industry.

The Heart of the Customer Experience: Do Banks Care?

In the banking industry, the “customer experience” has moved to the forefront over the past few years. Citing Protiviti’s second annual Consumer Banking Survey, Jeffry Pilcher, CEO/President & Publisher of The Financial Brand shares how consumers today perceive their experience with retail banking providers — what banks are doing well, and where improvements are needed. The good news is that 93% of respondents say banks at least meet their expectations. However, only 36% of respondents in Protiviti’s study feel their banking provider exceeds expectations.

The Great Disconnect: Annual Budgeting And Digital Marketing

In a recent AdExchanger Data-Driven Thinking column, Kim Brown, founder and CEO at Centrally Human contends that while marketing is going through an unprecedented evolution with the convergence of data and technology, there is one thing that hasn’t changed and is holding the industry back: budgets–specifically, the budgeting process. The general process is still rooted in this notion of static data and campaigns with specific start and end dates. Brown says that data-driven budgeting is a better way to optimize fund allocation with the way digital media actually works.

How Publishers are Trying to Monetize Instagram

As a platform, Instagram might not be ideally suited to serve publishers’ digital needs. But they’ve still figured out how to make money on it, according to Max Willens from Digiday. In the past year, as their audiences on the platform have increased, scores of them have turned to tactics including product placement, Instagram star partnerships and even tools that help them sell from their comments sections. And while many emphasize that they’re in the early stages, there are bright spots such as product placements and influencer marketing. 

Mobile Payments in the US Growing Fast, but Still Far from Mass Adoption

Despite double-digit growth this year and next, Americans’ use of mobile wallets like Apple Pay, Android Pay and Samsung Pay, as well as branded apps that include mobile wallets like the Starbucks app, Walmart Pay and CVS Pay, will not reach mass adoption in the foreseeable future as reported by eMarketer. Fewer than 20% of smartphone users use proximity mobile payments this year, but mobile peer-to-peer payments are growing.

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