More iDiz from CMBDC Conference
(by Kent Dicken)More notes from Nashville:
• Starbucks has a Destination Strategy. They strive to be the 2nd or 3rd destination for drivers. They also have us speaking their language and depositing our own money with them at no interest on stored value cards.
• Product Leaders aim at improving their own products. Gillette is constantly working on new products that will make their current products obsolete.
• ING Direct has a profit only focus. Apparently their CEO even told a customer to either stop calling the call center because it was costing the bank money or go away. The customer begged to stay.
• There will be 1.8 million ARMs renegotiating/resetting this year.
• Debit card use overtook credit card use in 2006. It’s a sunny PIN future.
• Branch usage is down 20% while online usage tripled. Branches accounted for less than half of transactions.
• It’s a mobile market. There are 2 billion cell phones in use worldwide. 1.1 billion of those just in 2007. That’s 36 cells/second, while there are only 4 babies born/second. Cells cover 80% of the world, and 13.6% of US households have given up their land lines.
• Marketers should plan on becoming the next generation of CU CEOs. They have the skill sets to grow credit unions.
• At McDonald’s in Asia you can text your order as you walk in, and pick up at counter.
• Young debit card users paid over $1 billion in overdraft fees. Watch for a backlash coming.
• Most call center calls are requests for balance. 50% of those from cells of young debit card users being responsible. How can you help them?