digital marketing for financial services companies: new mantras, new media

1Cubitt Jacobs & Prosek Communications

Digital Marketing: New Mantras, New Media

Financial Services Companies

April 21, 2008

Cubitt Jacobs & Prosek Communications


Media Consumer: 1958


WELCOME TO THE NEW DIGITAL REALITY


Where Did Everybody Go?


Modern Media Consumption Habits

Digital technology has altered media consumption habits. Integrated digital or “new” media components that leverage modern marketing channels are required.


WHAT’S THE DIFFERENCE BETWEEN WEB 2.0, SOCIAL MEDIA & NEW MEDIA?


“Web 1.0 was Commerce. Web 2.0 is People- Ross Mayfield

President and co-founder of Socialtext

Web 2.0 seems to be like Pink Floyd lyrics: It can mean different things to different people, depending upon the your state of mind.

- Kevin ManeyTechnology journalist, USA Today


Any online technology or software people use to share multimedia content, opinions, insights, experiences, perspectives and media. Social media sites and applications are built on the Web 2.0 platform. The “social media” was born from the technology that enabled it, just as the print and broadcast media were.

These are examples of social media sites and applications:

What is Web 2.0?


So Are These…


Fresh Stats: Who’s Online?

Today 79% of baby boomers use the Internet daily-the highest percentage of any group 70% of both 18-31 and 32-43 year-olds use the Internet daily

Web Site Content & Functionality Desired Most by US Internet Users*

– User ratings or customer feedback: 64%

– Company/product videos: 44%

– Subscribe to company blog via email or RSS: 39%

– Ability to create a personal profile: 37%

– Surveys or quizzes: 29%

– Ability to upload own content to site: 23%*Forrester research Q3 2007


DIGITALMARKETINGPRINCIPLES


SAIL THE7Cs


CONVERSATIONSocial Media

Tagging

BlogsTwitter

Microblogging Social Bookmarking

Comments

Engagement

Word-of-Mouth

Democratization

Social Software

del.icio.us

Digg

Trust

Transparency

Instant Messaging

Technorati

User Reviews

eBay

Share-ability

Stumbleupon

Influencers

The Tipping Point

MySpaceRecomendation Engines


MAKE THE SERVICE SOGREAT, PEOPLE CAN’T HELP BUT TALK ABOUT IT


Digital Marketing Mantra

“Something remarkable is worth talking about. Worth noticing. Exceptional. New. Interesting. Boring stuff is invisible. Remarkable marketing is the art of building things worth noticing right into your product or service.”

- Seth Godin, author of The Purple Cow

Source: Purple Cow / Seth Godin / Page 3


COLLABORATION

Wikipediawiki

Basecamp

37 Signals

Crowdsourcing

Customer R&D

Box.net

Google Docs

Mahalo

Social Search Engines

Participation

Open Source

Open Social

WebEx

Videoconferencing

Open API

Facebook Platform

Digital EthnographyInsight

Innovation

World of Warcraft

Facebook Polls

The World is Flat


UNCOVER RICH CONSUMER INSIGHTS BY OBSERVING & LISTENING



“Great work comes from insight, and we have always worked from insight. … Insights are going to come in so many different ways.”

- Laura Lang, CEO, Digitas, March, 2008


CONTENT

Gaming

Video

User-Generated

LuluMashups

Blogs

Podcast

Content is King

Content as Currency

Self-publishing

NIN

Radiohead

Professionally-Produced

Long Tail

Ad-SupportedCafePress

Creation Tools

Live Nation

SpotRunner

Anti-Piracy

Hulu

iTunes

Amazon

Engagement

Mobile Games

Viral

Premium

Pass-Around FactorNew Pricing Models

Creative Commons

Print to Online


ADD VALUE THROUGHCONTENT



“Our job is to create content so valuable and useful that consumers wouldn't want to live without it.”- Jeff Hicks, CEO, Crispin Porter + Bogusky, October 2006


CONVENIENCE

UtilityPortability

Make Life Easier

Usability

Ask Sunday

Cloud Computing

Netvibes

Widgets

Mashups

OpenID

Lifehacker.com

Branded Utility

iPhone

Nike +

Free

Interoperability

Web Applications

Mobile

Backpack

Online Banking

Text Alerts

eVite

Mint

Skype


DELIVER VALUE THROUGHMARKETING BY MAKING PEOPLE’S LIVES EASIER



“[Branded Utility] is where the brand creates a commitment to a relationship. It’s where the brand creates something useful to you, something that’s a utility in your life. The consumer will feel more confident with the relationship if the brand will continue to be part of your life.”- Benjamin Palmer, CEO / Owner, The Barbarian Group, October 2006


COVERAGE

Blip.tv

Distribution Channels

Email

Embeddable

RSS

Cross-Platform

Content Ubiquity

Syndication

Badges

Ad Networks

SEO

Discoverability

Convergence

Mobile Web

CNN iReport

Mashups

Bit Torrent

YouTube

Virtual Worlds

Having a Presence

Ning

Squidoo

Facebook Pages

Linkedin Groups

Wikipedia

Yahoo! Answers


CONTENT MUST BE UBIQUITOUS ACROSS DIGITAL PLATFORMS TODRIVE AUDIENCES TO ACTION



“On the Internet, one must both distribute messages and make them easy to find. Content is found via search and social media, so it is critical content is optimized for search engines and is easily embedded and and distributed via the blogosphere and social networks.” - Rishad Tobaccowala, CEO, Denuo, April, 2008


CUSTOMIZATION

Mashups

Social Networks

“My Life, My Stuff”

Consumer in Control

Remixability

Netvibes

User Generated

ProfilesVideo Resumes

MySpace Facebook

Linkedin

Google AndroidCafé Press

iGoogleMy Yahoo


DIGITAL TECHNOLOGY ALLOWS YOUR AUDIENCE TO CREATE THEIR OWN EXPERIENCES WITH YOUR BRAND



“[Consumer] participation in interactive media has no precedent in human history. By tearing down barriers to entry in both content creation and distribution, interactive technologies make it possible for an individual to publish their own national ‘magazine,’ make a documentary, record an original symphony or even program their own TV network.” - Randall Rothenberg, President & CEO, IAB, April, 2008


CALCULATION

comScore

Mashups

Google AdSense

Measurement

Monetization

Revshare

TubeMogul

Conversation Tracker

Paid Search

Click-Through Rate

CPMs

Quantcast

Didit

Facebook Social Ads

Digital ROI

Sponsored Content

Alexa

DataDriven

BuzzMetrics

Pageviews

Monthly Uniques

Views

Google Analytics

Wikinomics


DIGITALMARKETINGCHANNELS


Digital’s Role in Modern Marketing

“Digital is the centerpiece of a broader campaign. I think that’s become a real integral part of how we use the Web, moving beyond just promoting Web addresses in TV spots or print ads to really making them a critical part of the storytelling for our brands”

-Rob Master, media director, Unilever NA


Mobile Marketing Snapshot

TOOLKIT

– Mobile Web sites; mobile blogging; wallpapers; ringtones; branded mobile games; mobile ads; mobile search; marketing messages via SMS and text alerts

OPPORTUNITY

– Ten percent of US marketers employed SMS/text messaging campaigns between April-May, 2007 *eMarketer

– Over 100 million US consumers will use mobile devices for banking and investing transactions by 2012 *Javelin Research

– Mobile marketing spend will increase 35% between 2007-2008 and is now a $500M industry; will reach $3B by 2012 *eMarketer

WHAT’S NEXT

– Improved mobile video beyond the iPhone; mobile coupons; mobile social networks; QR (quick response) codes; streaming live mobile video; Google Android: open mobile developer platform


Mobile Media in Action


ING CORPORATE MOBILE SITE

FIDELITY ANYWHERE MOBILE


ING Mobile Site

ING has a comprehensive mobile Web site, including stock information, press releases, financial calendar and IR contact information

The mobile site provides topical share price information, analyst commentary and contact information

Site includes up-to-the-minute company press releases with an option to subscribe to alerts via text message


Fidelity Anywhere Mobile

Market information, access to Fidelity accounts, and trading

Popular features include real-time stock quotes, watch lists, balances and positions, text alerts, trading, and order status

Downloadable mobile investing games


GAMING


Gaming Snapshot

TOOLKIT

– In-game marketing, branded “advergames,” ad-supported online and mobile games; games-as-utilities; user-generated online games

OPPORTUNITY

– In-game marketing spend on PC, console, mobile and casual online games will grow to $800M by 2012 *eMarketer

– Eighty-five percent of casual gamers prefer free, branded games to paying for downloadable PC games *Interpret

– Globally, gamers spent a weekly average of 5.1 hours playing casual online games

WHAT’S NEXT

– Companies creating games for recruiting and training


SCHWAB IT’S YOUR LIFE GAME

FIDELITY ANYWHERE MOBILE GAMES


Schwab & Fidelity Casual Games

Online and mobile formats

Schwab It’s Your Life game tests investment decision-making abilities based on life stages

Bulls and Bears race up a chart graphic in Fidelity’s ChartClimber mobile game

Correct answers to a series of true/false questions on retirement, college savings, stocks and mutual funds push the Bull ahead

Games available on company sites


Social networks


Social Network Marketing Snapshot

TOOLKIT

– Branded profiles, groups, storefronts, widgets and applications; contests, self-serve social ad systems, recruiting, event promotion, digital content distribution

OPPORTUNITY

– Social network marketing will reach $1.6B in 2008; social networks deliver the same amount of online referrals as search *eMarketer/MediaPost, April 18, 2008

– Six of the top 10 global Web sites are social networks: YouTube (#2), MySpace (#6), Facebook (#7), Hi5 (#8), Wikipedia (#9), Orkut (#10)

– If MySpace were a country, it would be the world’s 8th-largest

WHAT’S NEXT

– Continued fragmentation into niche networks


FIDELITY KNOWLEDGE CENTER

TRADE KING

ZECCOSHARE


From BusinessWeek, August, 2007


Social Media Marketing Snapshot

TOOLKIT

– Blogs and microblogs, wikis, video sharing, podcasts, RSS syndication, social bookmarking, voting and ratings systems, consumer reviews, social news site columns, socially-optimized news releases

OPPORTUNITY

– Social media marketing spend increased 150% to $1.5B between January 2007-’08 *Forrester

– Sixty-six percent of US Internet users visited a social media site in January, 2008 *comScore

– Over 100M blogs exist in 2008; 120K are launched daily; 17 blog posts are made every second *Technorati

– Nearly 19B Americans listen to podcasts regularly; 27% of Americans read blogs regularly


Socially-Optimized News Releases Social bookmarks

foster sharing across sites and networks

Option to subscribe to company news via RSS

Embedded video and photos syndicated to video and photo sharing sites

MP3 audio summary of news and quoted spokespeople


PODCASTING INSIGHTS & ADVICE:

RAYMOND JAMES

CHARLES SCHWAB

FIDELITY

A.G. EDWARDS


Raymond James


Fidelity Podcasts


BLOGGING INSIGHTS & UPDATES:

THINK

ING

LAKEVIEW ASSET MANAGEMENT


Online Video Marketing Snapshot

TOOLKIT

– User-generated ads and promotions; branded video site channels; video “seeding;” video contests; branded Web series; video blogs (vlogs) and podcasts

OPPORTUNITY

– Forty-eight percent of US adults have visited an online video site *Forrester

– In December, 2007, 141 million unique viewers watched 10.2B videos mostly on YouTube, MySpaceTV and Yahoo!

– Forty-four percent of US Internet users cited “company or product videos” as their most-desired Web content *Forrester, Q3 2007

WHAT’S NEXT

– Brands as content players

– More Web video/traditional TV crossovers


MERRILL LYNCH MY MERRILL VIDEOS


WIDGET:

widget |noun informala small gadget or mechanical device, esp. one whose name is unknown or unspecified.

Miniature, portable Web experiences/utilities that can be embedded and shared via blogs and social networks; pure marketing applications that serve as virtual CRM tools for brand loyalists

ORIGIN 1930s : perhaps an alteration of gadget .


Widgets & Utilities Snapshot

TOOLKIT

– “Widgetized” blogs and videos, social network applications, branded utilities like calculators, news feeds, etc.

OPPORTUNITY

– Eighty-one percent of US Internet users viewed or used a widget in 2007 *Forrester

– Most popular widgets are in the form of Facebook applications and Google gadgets that exist on personal homepages

– Widgets can be developed much faster than entire Web or micro sites and serve a similar purpose


FIDELITY MARKET UPDATE WIDGET

THINKORSWIM MARKET WIDGET


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