Info-Currents… May is the month of mobile

Emerging Trend #1: The latest Nielsen report on Hispanics’ use of mobile and social media shows that this population segment is significantly more likely than the rest of the population to use mobile devices and social media to connect and communicate. 

Implication: Digitally savvy Hispanic consumers serve as a proxy for proactive consumers who are open to brand communications and who will pay for content. eMarketer projects Hispanics to spend $500 million on mobile apps in 2012.

Action: To augment multi-cultural campaigns, invest in social media and hyper target through mobile. Hispanic users are 25% more likely to follow a brand than the rest of the population.  

To get the full newsletter and to receive Info-Currents monthly, click here. 

Posted via email from dotwom’s posterous

The Word on Banking

The latest report from the Large Purchase Study shows that offline WOM is significantly more likely to influence banking-related purchases than online WOM. Yet, there is a twist in this all too familiar plot line. The impact of online word of mouth on banking product and service purchases has been significantly increasing over the past couple of years.  

Banking_past_2-5_years

Banks have a significant opportunity to grow their customer base and invest in long-term relations through online communications and marketing. The report shows that young adults and ethnic minorities, are more likely than their respective counterparts to listen to online buzz when choosing their banks.

As young customers get older and go through various life events and changes, they will need banks’ help with credit, mortgage and retirement products. They will continue to turn to their online sources. Banking brands that earn their trust today will have significant competitive advantages in the future to earn these customers’ business.

The latest census data pointed to significant growth in Hispanic population between 2000 and 2010. Considering the Hispanic population’s (especially the younger Hispanic segment’s) affinity for social media, banks that manage the word online and proactively communicate with Hispanic customers through social channels will stand a real chance with them. 

To download the full report and read more about the influence of word of mouth on banking-related purchases, click here.

 

Posted via email from dotwom’s posterous