Skip to main content

The mobile revolution is not about technology

The truth is, we live in a permanent technological revolution. Remember when you didn’t have a cell phone because no one did. Granted some of you may be too young to remember that – but the majority of readers are not. That’s a pretty short window. We’ve gone from not knowing what a mobile phone was to 91% of adults have a mobile device within arm’s reach 24/7 in less than 25 years.
And if anything, things are just moving faster than ever, which means we’d better buckle in because we’re on a never-ending roller coaster.
Consider these additional facts:
  • 95% of all text messages are read and read within 90 seconds of receipt
  • 65% of all email is opened on a mobile device versus a desktop or laptop
  • Mobile is now the first screen worldwide – eclipsing screen time on both PCs and TVs
  • There are more mobile devices on the planet than there are people
Mobile has become THE place for media consumption. It’s where people connect on social media, it’s where they watch videos, read, search for where they should eat dinner and, based on their apps – renew their prescriptions, pay for coffee with a quick scan or board a plane. And that’s child’s play compared to what is coming next.
But the important thing for us to recognize from a marketing point of view has nothing to do with the devices. The real mobile revolution is about our behaviors and choices, not the device of the day.
This technology has changed how consumers behave. They are less patient, more demanding, have higher expectations and a lower tolerance for any sort of delay, disappointment or lack of options.
Forget Millennials or baby boomers. We’ve become the IWWIWWIWI culture.
The “I want what I want when I want it” attitude is evident in how we consume today. Wait for a TV show to actually be on TV? Forget it. I’ll watch what I want, when I want and I will binge watch as many episodes as I want on whichever device I want. Wait a week for you to get something in stock? I don’t think so. I’ll just order it on Amazon and I’ll have it tomorrow.
A global survey asked respondents to assign a value to their smart phone and the average consumer came up with an implied value of $6,000. Which makes perfect sense, given how we’ve come to rely on the super computers we carry in our pockets every day.
Those are the consumers we’re trying to reach and sell to every day. How should we be taking advantage of this mobile revolution to win the loyalty and buying dollars of these consumers?
As marketers, we can and should be using mobile to:
  • Deliver time sensitive content to audiences
  • Reach out to audiences with location specific information and offers
  • Solve problems for key audiences at the exact moment/location they need it
  • Create community around a passion or cause or shared need/experience
  • Develop a deeper, more meaningful experience or connection
  • Accomplish tasks in a faster, easier and better way
One of the realities of this new world is that what used to be unattainable for the average small to mid-sized business is now well within your reach, both in terms of access to the technology and affordability.
by  on August 9, 2017

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Bipartisan Bill Would Expand Federal Credit Union Investment Authority

WASHINGTON—Reps. Janelle Bynum (D-OR) and Young Kim (R-CA) introduced bipartisan legislation Thursday that would significantly broaden the investments available to federal credit unions, including giving them new authority to invest in corporate debt and asset-backed securities. Young Kim The Credit Union Investment Authority Act would amend the Federal Credit Union Act to expand federal credit unions’ investment authority. Under the bill, federal credit unions could invest in marketable debt obligations issued by companies and other organizations that are not limited to serving credit unions. The legislation would cap a credit union’s investment in the obligations of any single issuer at 10% of its paid-in unimpaired capital and surplus. The measure would also expressly authorize investments in asset-backed securities as defined under the Securities Exchange Act of 1934. Kathleen Coulombe The bill would require the NCUA board to issue implementing regulations within one year of enactm...
Post a Comment
Read Complete Article HERE>»

Liquidity Resources

Liquidity Resources Liquidity is a credit union’s capacity to meet its cash and collateral obligations at a reasonable cost. Adequate liquidity is necessary to efficiently meet both expected and unexpected cash flows and collateral needs without compromising the credit union’s daily operations or financial condition. Effective credit union management identifies, measures, monitors, and controls exposure to liquidity risk. Primary Risks In managing expected cash flows, a credit union may experience situations that increase its liquidity risk. These situations include mismatches between sources and uses of funds, market constraints on the ability to convert assets into cash or to access sources of funds (market liquidity), and contingent liquidity events. Changes in economic conditions or exposure to credit, market, operational, legal, and also can affect an institution’s liquidity risk profile. None of these risks are mutually exclusive, and interrelated risks may contribute to increase...
Post a Comment
Read Complete Article HERE>»

Just What Is Our Gross Domestic Product

    A core measure of a nation's total economic activity, gross domestic product represents the value of all final goods and services produced within a country's borders in a given year. Economists can calculate a country's aggregate economic activity by adding together its total consumer spending, business investment, government spending, and net exports. As of June 2026, the US' inflation-adjusted GDP was about $24.2T. > The three different ways to calculate GDP. ( More ) > How "nominal" GDP differs from "real" GDP. ( More ) Since the concept was popularized by Nobel laureate Simon Kuznets in the 1930s, GDP has become one of the most important economic indicators in both domest...
Post a Comment
Read Complete Article HERE>»

Senate, 51-47, has confirmed John Crews to the NCUA board

WASHINGTON—The U.S. Senate, 51-47, has confirmed John Crews to the NCUA board, clearing the way for him to succeed Kyle Hauptman and return the agency to a single-member board following the Trump Administration's removal of Democratic board members Todd Harper and Tanya Otsuka earlier this year. Maintaining the foundational stability of the credit union system Supporting efficient, risk-based regulation that accounts for institutional size and operational differences Preparing for technological advancement while safeguarding member assets Encouraging the growth of new credit unions to serve underbanked and military communities Preserving an open, accessible, and collaborative dialogue between the NCUA and the credit union movement Crews, who most recently served in the Treasury Department, has said his priorities include reducing regulatory burden for smaller credit unions, encouraging innovation and supporting the chartering of new credit unions, while maintaining the safety and s...
Post a Comment
Read Complete Article HERE>»

Dolphin Debit, Enters into Partnership With CUSI

 HOUSTON–  Dolphin Debit , a full-service ATM management company, said it has entered into a strategic partnership with Credit Union Services, Inc. (CUSI), the Service Corporation of the MD|DC Credit Union Association. “Through the strategic partnership, CUSI adds a budget-ready, industry-leading ATM management program to its portfolio of solutions for credit unions in the Maryland and D.C. region,” Dolphin Debit said. According to Dolphin Debit, its ATM outsourcing service includes purchase and deployment of new ATMs, purchase of the financial institution’s existing ATMs, terminal driving, transaction processing, ATM maintenance, armored car service, communications, monitoring and dispatch, and cash management. “We welcome this oppor...
Post a Comment
Read Complete Article HERE>»

Checking or "Digital Hub" Accounts Will Still be the Primary Account for Most

Whatever they may be called in the future, checking accounts remain a primary account for consumers across all demographics. Approximately 80% of adults say they have a checking account with a bank or credit union, according to a Bankrate survey. Despite the growth in new apps and platforms, checking accounts remain the primary repository for consumers across all generations, says Mark Hamrick. Even consumers that rely heavily on platforms like PayPal and Venmo often have it tied to a checking account or debit card . “We’ve seen a tremendous amount of innovation in recent years, but the fact that these accounts are still held among majorities of age groups is quite noteworthy,” says Hamrick. “It remains the primary account.” Another notable finding is that consumers said they have used the same checking account on average for 17 years. As to why, 17% said it was the “account I’ve always had,” and 10% said it was “too much hassle to switch.” Not exactly a ringing endorsem...
Post a Comment
Read Complete Article HERE>»

3 ways CUs can use texting to increase member loyalty

 Texting isn’t a new communication channel—it’s been around for several decades. Yet most businesses—including banks and credit unions—aren’t utilizing it to its full potential. Read on to learn three ways credit unions can use texting to improve the member experience (and use it to increase member loyalty). Get connected with members right from their Google search More than 70% of consumers who search for a local business are more likely to visit a business within 5 miles. And local credit unions are included! It’s critical that your credit union shows up in local search results to capture new members (and even keep current members coming back to your business over and over again). Of course, it’s well known that prioritizing reviews and keeping your Google Business Profile updated (including pictures, hours, and services) is important to showing up higher in search results, but what can you do about increasing the member experience if you manage to show up in ...
Post a Comment
Read Complete Article HERE>»

Become your kid's mortgage lender

Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors. **** More At; Become your kid's mortgage lender :
Post a Comment
Read Complete Article HERE>»

This will be a week that has the attention of many economists.

 WASHINGTON–With a new report on inflation released late last week, with the Fed meeting to talk rates at midweek and with a jobs report to be released on Friday, this will be a week that has the attention of many economists. Dawit Kebede And that includes CUNA’s Dawit Kebede, who said the trade group last week released its economic update with a special focus on how inflation is becoming a challenge to the economy. “The Fed is going to raise interest rates over the coming meetings, including this week, when we expect a 50 basis point increase. It is also going to reduce its balance sheet,” said Kebede. “This policy response may have an impact of slow...
Post a Comment
Read Complete Article HERE>»

Vehicle, Savings & Real Estate Trends Part 2

  Vehicle Lending Credit union new-auto loan balances rose 0.8% in February, stronger than the -0.1% decline set in February 2021, and rose 0.7% during the last 12 months, CUNA Mutual reported. On a seasonally-adjusted annualized basis, new-auto loan balances rose at a 5.9% pace in February, slightly above the 5% long-run average growth rate. “The first quarter is typically the weakest quarter for credit union new-auto loan growth due to various seasonal factors. February is historically the weakest new-auto loan growth month of the year, with seasonal factors typically adjusting -0.68 percentage points from the underlying trend growth rate,” CUNA Mutual reported. ...
Post a Comment
Read Complete Article HERE>»