In July 2012, Google conducted a “What Users Want From Business Today”  on 1,088 adult smartphone users, and here are some of the noteworthy discoveries:

• 61% of people said that they’d quickly move onto another site if they didn’t find what they were looking for right away on a mobile site.
• 67% of users are more likely to buy from a mobile-friendly site,
• While nearly 75% of users prefer a mobile-friendly site, 96% of consumers say they’ve encountered sites that were clearly not designed for mobile devices.
• 74% of users say they’re also more likely to return to a site in the future if it’s mobile-friendly.

• 50% of people said that even if they like a business, they will use them less often if the website isn’t mobile-friendly

What do these Findings Imply for Modern Day Businesses?

• If your company doesn’t have a mobile-friendly site, it will eventually lose business, as a result.
• Since competition will provide what customers’ demand if you don’t, a mobile-friendly site is essential, if you want to stay current.
• A mobile-friendly site is imperative to maintaining brand reputation, to building strong relationships with customers, keeping up with competition and also preserving high sales.

In a study from Deloitte , they observe that in the UK that only 1% of mobile consumers have used their phones to pay for something, and may be the reason that Apple didn’t include Near Field Communication (NFC) used for contactless payment in their latest phone the iPhone 5 .  Despite the surprising  but important finding, smartphones have led to increased retail sales. Though sales aren’t processed on phones, their impacts on actual sales remain very high, and are only projected to increase with the surge of smartphone usage.

What are Some Other Noteworthy Findings of the Study?

• They observe that in the US apps and mobile websites led to a 5% more sales or $159 billion dollars worth of in-store sales. 
  • In the UK, the increase was 6% and equated to $24.7 billion dollars in retail in-store sales.
  • With the rapid increase of smartphone use, they predict that by 2016 smartphone use will lead to an increase of 17%-21% or $628-$782 million dollars in sales.
  • 46% of smartphone users have used their phones to research before or during a store visits
  • 74% of consumers that visit a mobile site or app for a store make a brand purchase, compared to 66% who didn’t  visit those and make a purchase

In a struggling economy, retail isn’t thriving as a business, and retailers needs to take these findings seriously if they want to succeed in the future!  To take advantage of the changes and finding by  Deloitte, retailers need to make sure to create a good mobile experience for consumers.

Additionally, a recent google study found that in the future, it’s highly likely that initiated physical,  in-store  purchases may lead to virtual sales from tablets or PCs. That means retailers should not only create a good mobile experience but should also prepare by providing good product information as a crucial part of maintaining virtual sales in the future.

Since Facebook went public on the stock market, the question on everyone’s mind has been how can they increase revenue without hurting the user experience? The answer may be here. Facebook has begun testing its mobile ad network. (The picture was borrowed from Mashable.) Facebook claims they want to make ads more relevant for users.

In the online article “Facebook Beta Launches New Mobile Ad Network Using your Data To Target You With Banner Ads In Other Ads” Josh Constine highlights the changes with the following quote: Starting later today, you may start seeing banner and interstitial ads targeted by your Facebook biographical and social data within non-Facebook mobile iOS and Android apps plus mobile websites where you’ve authenticated with Facebook.

The targetable data includes your age, gender, location, Likes, friends who’ve used an advertiser’s app and basically any other targeting options in Facebook’s standard ads marketplace. Unlike other sites, Facebook has a huge network of users and very accurate information that they can now market. That is one powerful tool!

They are currently testing the power of the new ads and their performance. For the information described above, advertisers can dish out cash based on bids that they are willing to pay to reach certain demographics. Josh Constine always pointed out “Facebook launched its first non-social, in-feed ad unit last month, allowing mobile developers to pay to show download links for their apps within the Facebook for iOS or Android news feed.” However, if they reduce the quality of user’s feeds with ads, they could end up hurting their business tremendously.

So they have to be cautious how they use their information so that they make money while improving user’s experiences, instead of hurting their experiences.

They also have to be extremely careful and make sure that user’s don’t feel like their privacy is being infringed upon because that could lead to lower usage. Facebook said user’s privacy was “top of mind” when creating this new design. If all the facets of the article are balanced correctly, these new changes may be the solution to not maintaining the quality of user’s news feeds and make it so they don’t have to push their own apps down on users, while also increasing revenue a lot AKA increasing the worth of Facebook (something they’ve been trying to figure out how to tactfully do for a while now.) How do you think this will impact Facebook?

In 2001 General Motors Acceptance Corporation (GMAC) bank was founded by a company that began in 1919, and in May 2009 GMAC bank launched Ally Bank.  It was created as an online-only “direct banking” for people in the United States (US) and GMAC financial services.

In May 2010, GMAC decided to re-brand itself as Ally Financial Inc. and Ally Bank became subsidiary of that bigger whole. Ally Financial was originally created to provide financing to automotive customers but has expanded to have 15 million customers worldwide and now provides insurance, online banking, mortgage operations, and commercial finance. In 2012, Ally Financial I at #201 on Forbes Fortune 500.

In July 2012, the Ponemon Institute announced the results of the 2011 Privacy Trust Study for Retail Banking. The survey was conducted from December 2011 until January 2012 and derived from sample of 5,571 US audit consumers. The study has been measuring consumer perceptions of trustworthiness for 9 years. However unlike past years ranked at #5, this is the first year that Ally joined the top 5 list of Most Trusted Retail Banks for Privacy 

In March 2012 according to the Change Sciences Group, Ally was ranked #1 out of 22 in ”Financial Services Social Media 2012.” Their presence and engagement on Facebook, Twitter, and YouTube contributed to their ranking, along with their customer-centric approach.  In the online article “Ally Bank Tops List of Financial Services Companies Using Social Media” they pointed out some very impressive numbers about their social media approach, “Every month, an average of 1,500 pieces of content are published on Ally Bank social media channels, including the Ally Straight Talk Blog, Facebook and Twitter channels. Topics range from Ally Bank product information to personal finance tips and tools. Followers across these channels increased more than 550 percent in 2011.”

In April 2012, the website Financial Brand ranked Ally Bank #5 in “10 of the Top Best Banking Brands to Watch.” Among some of the reasons for the ranking was their straightforward motto “no nonsense, just people” along with “reject big bank nonsense,” their humor infused advertisement campaigns, and how they always manage to “keep things moving” in their ever evolving ad campaigns and constantly growing social media presence.

Ally Bank has listed 10 notable awards on their website for 2012 alone and many more for past years too. To recap clearly, I have listed the 3 awards that I think display their marketing success the best.

• According to The Ponemon Institute, Ally was ranked #5 on the Most Trusted Retail Banks for Privacy
• According to the Change Sciences Group, Ally was ranked #1 out of 22 in “Financial Services Social Media 2012,” due to their social media presence, engagement, customer-centric attitude and growth.
• The website Financial Brand ranked Ally Bank #5 in “10 of the Top Best Banking Brands to Watch.” Since Ally Bank burst onto the scene just a few years back, they have been a formidable force and that award was a result of their huge accomplishments: The award notes their “no nonsense, just people” and “reject big bank” mottos, various humor infused advertisement campaigns, and their constant forward movement that is displayed in the constantly evolving ad campaigns and constantly growing social media growth.

Ally Bank has had 4 advertisement campaigns in 4 years and that might make consistency difficult but also shows that they are always willing to try new tactics to “keep things moving.” Their successful ad campaigns have helped them distance themselves from GMAC’s tainted past. In the online article “If Advertising Doesn’t Work, Then Why is ‘Ally’ A Household Word”  they pointed out their massive budget advertising budget the year they were launched, “Ally spent $25.8 million on advertising in the first half of this year, on top of more than $95 million in 2009, according to Nielsen, a media research company.“ Then the article continues on to quote impressive tangible results during that time frame

“Ally Bank has available, 40% of the financial institution’s target audience is familiar with the brand. 29% say they know something about the brand, while another 27% report having a fair- to significant amount of knowledge about the bank.” Next they go on to ask, “How has the bank achieved these impressive awareness numbers? They didn’t do it with PR or flash mobs or social media. They did it with a good old fashioned advertising strategy that includes TV, radio, online and — gasp! — even print.”

What were their 4 advertisement campaign approaches?

1. In 2009, they had an extremely popular and humorous “do you want a pony?” campaign that focused on honesty, transparency and accountability.
2. In 2010, they shifted their ad campaign to a different tactic:  an overtly obnoxious and awkward narcissistic love campaign. They seemed to lose some humor and their “no nonsense, just people” motto for a short period and then replaced it with the idea that if you don’t love your bank that you should switch.  But really does anyone really love their bank?
3. In their 2011 ad campaign, they regained their twisted humor and refocused their messages to “no nonsense, just people sense” and created a nonsense” campaign.
1. In the online article “No More Love for Ally Bank as They Search for the Right Ad Tactic,” they point out how they are spreading the latest campaign wide and far with the following quote:

It includes two TV and two radio commercials, as well as print, digital and outdoor. Spots will air on ABC, CBS, NBC, CNN, MSNBC, Fox News, ESPN, HGTV and the Golf Channel. Print will run in Money, Fortune, The New York Times and The Wall Street Journal. Digital advertising covers CNNMoney.com, Yahoo, MSNBC, AOL, Kiplingers.com, Real Simple and Bankrate.

1. In their latest campaign in September 2012, they launched yet another campaign for an undisclosed amount of money. This time they are stressing the customer always being first with the motto “Your Money Needs an Ally,” using two different ad tactics.
1. In one of their ads, they use a “robot ad” to stress the importance of banks providing 24/7 human interaction and support to clients, as opposed to opting for cheaper automated systems like some larger competitors.
2. In their other strategy, they use a “predictions ad.” The online article “Ally Bank Launches ‘New’ Stages Campaign”  explains the ad well in the following quote:

Thomas Sargent, Nobel Laureate in Economics, who is asked to predict what CD rates will be in two years—and is unable to do so. The commercial features Ally Bank’s popular Raise Your Rate CD, which offers the option to increase a rate once over the two-year term CD or twice over the four-year term CD should rates go up. Like all Ally Bank CDs, the Raise Your Rate CDs require no minimum deposit to open, feature no monthly maintenance fees and offer the Ten Day Best Rate Guarantee.

Some Essential Aspects of Their Successful Marketing & Media Campaign:

Simple yet straightforward philosophies of “no nonsense, just people,” “reject big bank nonsense” and “no robots” to stress the 24/7 human support they provide.

Changing their name from the tarnished GMAC to Ally Bank and later Ally Financial while allotting a large budget for a huge, creative marketing team, because they realized realizing that marketing was essential for creating a new, successful image.

Constantly evolving clever ad-campaigns that are well-funded and widely spread via TV, print, radio, and internet.

A large marketing presence on the internet that includes active customer engagement with engaging topics, direct connection to customers via social media interaction, and as a result extreme, rapid growth in their social media campaign .

Ally Bank’s customer-centric business model is also demonstrated through its 24/7 live customer service, Ally Perks debit rewards program and reimbursing ATM fees nationwide among other services, features and products.

Great Customer Reviews

Their “no nonsense” approach and perks have led them to be ranked highly for trustworthiness among retail banks. Trust can make or break a bank because when it comes to people’s money trust is one of the most essential components they look for in a bank.

In April 2012, they expanded their customer-centric offerings with the launching of Ally Mobile Banking for iPhones and androids. They exceed 1 million customer accounts, and the Bank has seen consistent growth—including a $1.6 billion increase in retail deposits in the first quarter…

If there short but eventful history is any indicator of the future, then Ally Bank is likely to see continued growth, success, and more ad campaigns. They just have to continue to use their “no nonsense” and “reject big banks nonsense” mottos, along with flexible marketing.

Additionally they have to use social media platforms to continue to communicate directly with their customers, and to keep things transparent so that they can maintain trust. Lastly, they have to keep their social media up-to-date so that they maintain that edge on competitors!

One of the largest changes implemented by Financial Industry Regulatory Authority, Inc (FINRA) dealt with the rules and regulations of financial services organizations under what used to be 6 categories. Now there are only 3categories: retail, correspondence, and institutional communication. In an online article “FINRA Regulatory Notice 12-29: Its Impact on Social Media Use”Chris Ricciuti points out the implications this has for social media communications:

All social media communications fall under the heading of retail, since they can reasonably be expected to reach hundreds, if not thousands, of people each day; however, since online forum posting falls under one of the possible exemptions, it may not require pre-approval.

Additionally, provided the narrative portion has already been approved, and the only changes are statistical updates, there is no re-file required.  This more streamlined approach to financial communications is an attempt to lighten the regulatory requirements on firms, lessening the cost of staying compliant.

But Financial Services organizations should begin, or continue to, archive their social media content. With the potential for regulatory requests or audits always looming nearby, one should not operate without the capability to produce previously published content, should a regulatory request arise.

In summary, while the rules around social media use by regulated organizations have been softened from a filing perspective, archiving all published content is still critical. We like to draw an analogy to email- you don’t necessarily need to pre-approve all email content, but you certainly need to archive all of it.

With the rules to going into effect February 4, 2013, it’s crucial that marketers attempt to fully understand the technical regulatory notice, in order to avoid unnecessary fines.

For social media marketers the good news is that regulatory standards appear to be lightened, for the time being, but that could quickly change:

FINRA Rule 2210(c)(7)(M) excludes from filing retail communications that are posted on online interactive electronic forums, such as an electronic bulletin board or an interactive forum that is contained on a social media website. Under NASD Rule 2210, posts on interactive electronic forums are considered public appearances.30 Under FINRA Rule 2210, such posts will be considered retail communications, assuming the forum is available to retail investors. Nevertheless, FINRA is excluding these posts from Rule 2210’s filing requirements.

Businesses should definitely stay abreast of the new laws’ implications as they change and begin to have real impacts! While the implications of the new laws are not fully understood by most, Global Relay (the largest archiver for LinkedIn compliance) suggests that businesses that are involved with social media should start archiving to ensure compliance, and stay ready for audits. Whether you use Global Relay or another method, if you are involved in the social media industry, you should think about how you are going to archive and staying up to-date on the new, ever-changing regulations!

As social media sites and smart phone use grow faster than ever before, banks must prepare! The importance of social media is steadily becoming more important and so banks can no longer just ignore social media, because change is inconvenient and a hassle to implement as a result of new ever-changing regulations.

In the online article “Progressive’s PR Disaster Shows Banks Need to Think Outside Twitter”

Nicole Sturgill points out, ” ‘Most banks have no idea if their customers even have a Tumblr blog or a Twitter feed. They should absolutely be adding that to their [customer relationship management] applications because customers not only have monetary value to them but they also have PR value.’ “

Since customers hold both the monetary value and PR value, it’s vital that banks monitor their brand and what customers are saying on social networks.

So that means they not only need to have a social media plan to monitor their brand but also a way to respond to customers. They need to be proactive in order to keep customers happy and to prevent PR disasters by having well thought out plans in advance. Not only is it vital damage control, but there are so many benefits that can be repeated from a well-orchestrated social media platform.

It’s essential because as the article notes “customers that might not have as much of an impact on a bank’s balance sheet can, inevitably, affect a bank’s bottom line by affecting its reputation.” In all businesses reputation is critical but among banks it’s even more essential and could eventually lead to a bank’s success or failure! 

 In August 2012, in an online survey of 500 people it was revealed that by far Search-Engine Optimization (SEO) is the most impactful marketing tool for companies on lead generation.  It’s such a surprise because it’s anywhere from a 20% to 50% increase since just last year, depending on the type of company (B2B or B2C).

Just last year, social media marketing took the lead by a large margin. Now, Social media and pay-per click both trail far behind in the 20% range.

Naturally, lots of businesses are maintaining their large budgets for SEO and many will be increasing it. A minimal percentage will decrease their budgets. Additionally, many companies will keep marketing in house, but there will be a large increase in agency use.  The study showed “21% of respondents who work with agencies on SEO report as being highly satisfied with their program performance, compared with 11% of those who keep that management in house.” With numbers like that, it’s no surprise that there will not only be more agency use but also more SEO budget allotment.

The only problem with the survey and its results is that it’s really difficult to accurately trace sales to their origins. First off, it’s very challenging to pin down the origins of financial impact and to make matters worse the measurements used are not based on the same standards. The most accurate metrics are more complex and therefore implemented less.

With difficult to measure metrics, it would seem that companies should focus on SEO, social media and pay-per click to a relatively proportionate degree. How much do you think companies should allow this impact their budgets?

The exclusive publishers of the famous Meyers-Briggs Type Indicator (MBTI) assessment, CPP have produced an infographic that illustrates what they believe your favorite social network says about your personality.

Some of the main from the infographic include:

• Of the 16 personality types about 65% reported using Facebook, and on average individuals with a tendency towards extraversion used facebook about 69% while those with a tendency towards introversion on average reported using facebook about 60%.
• When using Facebook, those with a tendency to feel (as opposed to thinking) browsed about 75%, interacted about 49%, and shared information about their personal life about 23% of the time. In contrast those with a tendency to think browsed about 67%, interacted about 40%, and shared information about their personal life about 15% of the time.
• On LinkedIn, those with a tendency toward extraversion (40%), intuition (41%) and thinking (38%) reported using LinkedIn more than introverted (28%), sensing (29%), and/or feeling (30%) individuals.
• On Twitter, individuals with a tendency towards intuition (13%) were much more active than those with a preference for sensing (8%).

Do you agree with the study’s findings? Do you think your favorite social network is a reflection of your personality type and if so how?

Recently, Creators the official YouTube Partners  & Creators Blog announced a makeover to YouTube publishing.  They have implemented over the last few months to show that they are listening to user feedback.

Highlights of the Changes Implemented

• Videos will reliably go live and appear in publishers’ feeds based on published time
• To give you more visibility subscribers and their feeds will be notified when videos at the time that they’re  made public, rather than the original upload time
• Now videos can be private until a specified publishing time
• No more than a few minutes will pass between when the video is published and ready to watch to both the poster and the subscribers
• In the video manager, they have added a feature that shows when your video was published in your local time zone\
• To ensure satisfaction, they’ve set up an email address scheduled-publish-team@google.com so that users are able to express your feedback and YouTube is able to constantly improve

Yelp is a free, online urban city guide used to find a variety of interesting places to eat, drink, shop, relax, etc. It offers familiars and tourists alike a platform to offer up reviews, recommendations or share both good and bad experiences on. It provides a very useful and meaningful social, community platform for people to discuss their opinions.  Yelp officially announced  a website makeover on August 14, 2012 and so there isn’t much feedback on the changes yet, but with a site like Yelp where reviews fuel their site, it’s a safe bet that the reviews (both good and bad) will flood the internet soon.

Since it’s free, run well, and offer’s a good service, it has gained not only popularity but a good reputation over the years.  It’s a very useful site to businesses and customers alike, and has become one of the most popular sites of its kind.

The Yelp team spent a long time designing the new webpage, and the properties of the new design will be unveiled for the next few weeks.  On first glance, it appears more user friendly  but the article“Yelp: Extreme Home(page) MakeOver” clarifies that the changes are more complex:

The new design places a greater emphasis on activity from you and your friends. In addition to long-standing favorites like Review of the Day, Hot New Businesses and Fresh Lists, now you’ll be able to see all sorts of new stuff, including (but not limited to)

photos and Tips left by your friends,

events they are going to,

recent places you’ve checked-in to &

Useful, Funny, Cool votes your reviews have received.

And since this is Yelp, you’ll of course be able to send compliments and give other feedback on your friends’ activity right there.

In a public announcement, they revealed that high usage of cellphones was a big factor in their new website design. Recent years have shown a large increase in both smart phone  and social sites usage. In short, what does that mean in the grand scheme of things?  Yelp might just be the beginning of a business trend…at least those that are listening to demand. What do you think about the changes?