It wouldn’t be a New Year without a roundup of the year that was. 2013 is no exception.
Digitally speaking it was the year that was mobile. If people hadn’t woken up to the fact that mobile was hear to stay and was a force that could not longer be ignored then 2013 was the year that this proved to be the case. Mobile became as mainstream as any other form of the internet and in fact over took desktop in some channels as being the leading medium of choice by users.
Shopping figures from the United States immediately after Thanksgiving demonstrated that for some users mobile was the medium of choice for shoppers. USA Today proudly announced that consumer preference had profoundly changed and now mobile had to be seen as the preferred choice of consumers.
However what would this mean for financial organisations and consumers. Slowly banks and other financial organisations are waking up to the multiple benefits of an integrated digital strategy. Mobile engagement provides a massive for banks. No other technology provides engagement when and where clients want it. Secondly, and perhaps more importantly, digital gives massive cost scale to banks.
Banks have until recently seen mobile engagement as a cost rather than a benefit. This view must change for banks relevance to be continued. If banks do not other competitors are going to enter the market and gradually prise away a client base. We have seen new entrant financial institutions use traditional internet lever market share away from incumbents.
Mobile will provide similar opportunities for organisations willing to take the next step.
Engage. Inform. Convert.