Friday, April 27, 2007
Banks :-)~ Over Mobile Marketing
byIt’s no secret that banks are rolling out more robust mobile banking applications for those on the go. Now banks are poised to use that same channel to take their marketing mobile, particularly to reach the age 18 – 27 text-savvy Gen Y demographic. Considering their target demographic, you might say banks are ;-)~ (text shortcut for drooling).
No wonder. As reported in US Banker, more than 11 billion text messages are sent monthly in the U.S. today, with the majority originating from members of Generation Y.
Banks are finding that mobile marketing is giving them a direct line to customers who have opted in. And, as the article cites, that’s opening up new ways to market; delivering virtual coupons, ringtones and photos; running polls; sending surveys; answering trivia questions; and even recruiting.
The article reviews how HSBC recently conducted a brand awareness campaign that required cell phone users to text-in their opinions based on questions posed by street performers. Participants instantly saw their answers tallied on plasma screens outside the bank in New York City.
Industry analysts say that this type of marketing is easy, powerful, less costly than traditional advertising (five cents and six cents per message), and trackable via sign-up code responses.
The article stresses that this trend is not so much about the mobile technology; it’s really about the habit, the one thing people are carrying through all their life stages—their cell phones.
That’s why banks and marketing types are ;-)~
