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Category Archives: Financial Services
Part Three: Mobile Banking and the Future of Loyalty, An interview with Michael Hemsey and The Credit Union Times
May 13, 2013 in Financial Services by Jenn Lingerfelt
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The slogan used to be “there’s an app for that.” But for the banking and financial services industry, it’s not so much an overused expression as it is a statement that raises a fundamental question. Is there a mobile banking app out there that can genuinely engage customers, increase conversions, reduce costs and simply be [...]
Part Two: Mobile Banking and the Future of Loyalty, An interview with Michael Hemsey and The Credit Union Times
May 10, 2013 in Financial Services by Jenn Lingerfelt
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Considering that the average cost per consumer transaction at a brick-and-mortar bank is $4 compared to just $.08 on a mobile device, banks should be strongly incentivized to convert more of their customers to the mobile channel. But how successful are they in that endeavor? Kobie’s president, Michael Hemsey, believes banks can and should do [...]
Part One: Mobile Banking and the Future of Loyalty, An interview with Michael Hemsey and The Credit Union Times
May 6, 2013 in Financial Services by Jenn Lingerfelt
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Just as other industries have come to embrace mobile as a powerful engagement and metrics-gathering tool, the banking and financial services industry is playing a game of rapid catch-up. In 2012, according to the Federal Reserve, nearly 21% of survey respondents said they’d used some form of mobile banking services during the previous 12 months. [...]
Turning Skepticism into Trust: Some Ideas to Improve Bank Loyalty Programs
May 1, 2013 in Financial Services by Michael Hemsey
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At its most basic level, loyalty is about trust – not about the program specifics, per se. But that’s not great news for banks: recent data shows that Americans don’t trust their banks very much. Investors, too have diminishing trust in the financial system, according to the SEC (Securities and Exchange Commission). As for non-investors [...]
Should Credit Card Companies Grow Loyal to Mobile Wallets?
February 28, 2013 in Financial Services by Bram Hechtkopf
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It’s starting to feel like technological déjà vu. From the printing press and motors, right through to smartphones and Google Glass, every new technology has come with variations of this tagline: less work and greater efficiency means more time spent on other, more enjoyable tasks. If only that were true. The truth is, for every [...]
Breaking the Financial Services “Two-Step” Dance through Enhanced Customer Experiences
February 19, 2013 in Financial Services by Bram Hechtkopf
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Do you ever get the feeling that we live in a world stuck in the two-step – two steps forward and one step back? Take the economy, for instance. Every few weeks journalists report a mixed bag: First it was announced the US economy surprisingly shrunk one-tenth of a percent in the fourth quarter of [...]
Loyalty + CRM = CEM: The Key to Creating Optimized Customer Experiences
January 28, 2013 in Customer Experience & Engagement by Jenn Lingerfelt
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The average person may not know it, but profound changes are working their way into the customer experiences they encounter across all verticals – changes that stand to make 2013 a breakout year. So why are customers and many marketing professionals left in the dark? That’s because of where the changes are taking place. In [...]
Omnichannel Loyalty Becomes Omnipresent in the New Year: Four Loyalty Program Predictions in 2013
January 2, 2013 in B2B by Jenn Lingerfelt
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An economy on the cautious upswing, brand allegiance up for grabs, and mobile technology being the linchpin of it all meant that in 2012 loyalty programs achieved newfound relevance in attracting and retaining customers. Consumers opened their wallets this year and sought experience-driven brand engagement. But they did so in caring and cautious ways. It [...]
Big Data: A Look Back on 2012 and a Peek Into 2013
December 21, 2012 in B2B by Don Hughes
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In the run-up to the New Year, Kobie Marketing has highlighted four trends that will give loyalty programs, brands and loyalty program providers a major boost. They include: digital/big data, personalization, mobile, and channel convergence – this and our remaining posts for 2012 will dig a little deeper into each of these areas. Considering Big [...]
Getting Rid of Dead Weight: Unredeemed Rewards and Loyalty Liability, Part Two
September 24, 2012 in Financial Services by Bram Hechtkopf
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Something we think about a lot at Kobie is: Loyalty liability, or to the laymen, the accumulated miles and points that go unredeemed by millions of loyalty program members. It’s important to realize that it’s not only a major stumbling block toward true profitability, but it presents a financial reporting nightmare, as well. Loyalty program [...]
