Success in Marketing & Selling RDC

Transcription

1 Success in Marketing & Selling RDC Michael Pratt CEO, Panini Victoria Lant Product Marketing Director, Fiserv Brian Collins ebanking & Payment Services Director & SVP, Enterprise Bank September 27, 2012

2 Session Agenda Michael Pratt Panelist Introductions Michael Pratt Joint Marketing Programs Victoria Lant Marketing Mobile RDC Brian Collins Marketing Traditional & Mobile RDC Michael Pratt Facilitated Discussion Topics Open Q&R 2

3 Panelist Introductions Michael Pratt CMO Panini Victoria Lant Product Marketing Director Fiserv Brian Collins ebanking & Payment Services Director & SVP Enterprise Bank 3

4 Joint Marketing Programs Michael Pratt CEO Panini

5 Trial Programs Establish a pool of devices for use by clients on a trial basis. Limited time trial (i.e. 30 days). Option at end of trial to purchase or return solution. Rotate or refresh pool and enlarge as program achieves success 5

6 Branch Channel Programs Market to businesses where they currently make check deposits. In-branch demonstration and lead capture. Rotating RDC Days in the branch with incentives to sign-up that day. Branch staff incentives. Branch Info kiosk with: Scanner (shell or unit) Info Takeaway Opt In Offer 6

7 Sales Incentive Programs Stimulate sales behavioral change and pattern. Establish rewards based on demographics of sales team. Relatively new low threshold performance incentive for maximum participation. Relatively experienced - high value awards for top performers. 7

8 Direct Marketing User base segmentation. Extract service based businesses or known check intensive verticals. Then extract firms with annual revenues of $1 to $10MM. Then extract businesses already using a tech product from the bank (i.e. online banking). This is likely to represent your highest potential target list. Success breeds more success (and resources!). External segmentation - purchase and use lists from sources such as NAICS, CFO Magazine, Entrepreneur, and INC. Offer something for free to encourage opt in then follow-up and close. 8

9 Other Key Programs Case studies SEO, Social Media, Viral ROI Calculators Demonstrations Training (users, help desk, all sales channels) Local business engagement (BBB, Chamber of Commerce) Fulfillment kitting, on-boarding, cross & up-sell Creative advertising AM radio, billboards 9

10 Increasing Mobile Deposit Adoption Victoria Lant Product Marketing Director Fiserv

11 About Fiserv Leading provider of financial services technology solutions to financial institutions and businesses worldwide Year founded: 1984 Headquarters: Brookfield, Wisconsin Locations: 155 worldwide Employees: Approximately 21,000 Revenue: $4.48 billion in 2012 Best-in-class solutions in five strategic competencies: Payments Processing Services Risk & Compliance Customer & Channel Management Insights & Optimization 11

12 Market Leadership and Scale Digital Channels Electronic Payments Account Processing # 1 Online Banking Solution Mobile Banking Solution # 1 Bill Pay and E-Bill Network # 1 P2P, A2A,ACH # 1 # 1 RDC More than 1 in 3 U.S. Financial Institutions 12

13 Source Capture Solutions from Fiserv More than 4,000 clients and 1.9 million users of Source Capture Solutions as of July 2013 Ranked #1 in industry for Merchant Source Capture by number of institutions Ranked #1 in industry for Branch Source Capture and Teller Source Capture by number of end users/seats Celent Industry Reports, November 2012 Number of end users Branch Capture Teller Capture Merchant Capture Consumer Capture Mobile Capture ATM Capture 13

14 High Growth of Financial Apps Growth in Browser & App Usage (MM) * Number of users Browser Y/Y Change +27% App Y/Y Change +28% All Social Media Financial Services Retail All Social Media Financial Services Retail +25% % +23% +35% % +47% 0 Dec - 11 Mar - 12 Jun - 12 Sept - 12 Dec Dec - 11 Mar - 12 Jun - 12 Sept - 12 Dec - 12 *Smartphones Only Smartphone Y/Y Growth = 29% Source: MobiLens : 3-mth rolling averages 14

15 Mobile Deposit Is Top of the Wish List What are the most requested improvements to mobile banking by consumers? Mobile deposit 23% Account activity alerts 21% User friendliness/navigation 19% Mobile bill capture 19% Security alerts 19% Source: 2012 Fiserv Consumer Trends Survey 15

16 The Glass Ceiling Effect Adoption growth will typically run into a glass ceiling The level of intervention will affect adoption path 16

17 Why Should You Care? 1. Mobile Deposit Adopters are Younger and Have Higher Income Levels 2. Mobile Depositors Use the Lobby Less than Other Online and Mobile Consumers 3. Mobile Deposit Users are Also Online Account Openers and Mobile Payment Candidates Source: The Raddon Report, Aug 1, 2013, now part of Fiserv 17

18 Best Practice Mobile Adoption Drivers Adoption will be determined by a consumer s willingness to accept 18

19 Mobile Adoption Services Why Mobile Adoption Services? Improve ROI outcomes by assisting the development of mobile adoption goals and expectations to more efficiently manage your mobile channel Deliver relevant and personalized recommendations on how to increase your mobile banking adoption Provide access to current industry insights and trends to better inform your management decisions Provide access to customizable mobile banking creative templates that reduce your marketing costs Complimentary for all Fiserv Mobiliti clients Designed to maximize adoption Contact: 19

20 Utilize Your Frontline Staff Your staff is more influential than you think 20

21 Word of Mouth Influence Global Percent Much/Somewhat More Likely to Buy a New Product When Learned Through These Methods Friends / Family 77% Professional Expert 66% Job / Work 55% Public Event 41% Based on respondents with online access only. New products are defined as any product not purchased in the past After friends and family, a professional expert (i.e., Frontline staff) is the most influential Source: Neilsen Global Survey of New Product Purchase Sentiment, Q

22 Promote the Benefit What s in it for me? Train all staff to actively promote the value of mobile deposit to new and existing customers Download our whitepaper from Fiserv.com Mobile Banking Adoption: Your Frontline Staff Holds the Key to Growth 22

23 Mobile Deposit Samples 8.5 x 11 Print/Counter Card Banner 120 x 240 Banner 278 x 90 23

24 Marketing Traditional & Mobile RDC Brian Collins ebanking & Payment Services Director & SVP Enterprise Bank

25 About Enterprise Bank Enterprise Bancorp, Inc. (NASDAQ: EBTC) is a Massachusetts corporation that conducts substantially all of its operations through Enterprise Bank. Headquartered in Lowell, MA, opened in Total Assets = $1.75 billion Total Investment Assets = $613 million Primary market area is Merrimack Valley and North Central Massachusetts, where it has 16 branches, and Southern New Hampshire, where it has 5 branches. Copyright 2013, RemoteDepositCapture.com 25

26 Traditional RDC Highlights/Key Measures: Launched May Celent Model Bank Award recipient 3x number of RDC clients vs peer group 741 clients using 488 scanners Over 1 million items scanned in 2012 Launched Single-Feed scanners in October % of new installs are for single-feed scanners Side Benefits: Allowed for easier/faster entry into New Hampshire 9% reduction in Teller transactions Represents 18% of Items Processing activity It s safe, secure and convenient It saves time and streamlines cash flow It can consolidate multiple banking relationships into one Copyright 2013, RemoteDepositCapture.com 26

27 RDC Strategy Market Segmentation & Product Design Started with analysis checking clients 2007 Began targeting professional business clients (ex. Doctors, Dentists, Lawyers, CPAs, etc.) 2008 Created a new mid-level flat fee checking account that offered two cash management services to be added for an additional fee: ACH Origination and RDC 2010 Began offering the single feed micro scanners for a lower monthly fee 2013 Launched a new Small Business Checking bundle that offers the client Mobile RDC Copyright 2013, RemoteDepositCapture.com 27

28 Marketing & Sales Tools Utilize Beavercreek Copyright 2013, RemoteDepositCapture.com 28

29 Mobile Banking A little background first Re-launched Retail Mobile Banking in November 2012 that included SMS, Browser-based and APP-based solutions. Retail Mobile adoption jumped from 13% to 23% within first 60 days with 95% of the users downloading the APP. Copyright 2013, RemoteDepositCapture.com 29

30 Mobile RDC Launched Retail Mobile RDC in March 2013 No application required / Auto enabled with $1,000 daily limit Originally launched with iphone and Android APP only but later ipad APP was launched with the capability also Copyright 2013, RemoteDepositCapture.com 30

31 65% of consumer said the ability to deposit a check with their mobile device was the leading feature that would cause them to switch. Alix Partners LLP, February 2012 For consumer that indicated they were somewhat likely to switch Fis for mobile Copyright 2013, RemoteDepositCapture.com 31

32 Marketing Mobile RDC campaign targeting existing Retail Online Banking users and existing Mobile Banking users Results: 27% opened the and 2% took action 2% went to the Beavercreek demo or Bank website 15% adoption amongst Mobile APP users within the first 60 days & 18% adoption within first 180 days Buck slips in branches as take-a-ways and handouts to customers Beavercreek Copyright 2013, RemoteDepositCapture.com demo with click-thru option 32

33 Furthering RDC What s next? New Focus / Target Segment DBAs, Sole Proprietors, SOHOs, single owner businesses Many hold their retail relationship with the bank already and want what they have on the retail side Result: a new Small Business Checking Account with a flat fee bundle Online Banking Online Bill Pay with Popmoney Mobile Banking Mobile RDC Copyright 2013, RemoteDepositCapture.com No application and a $5, per day limit

34 Discussion Topics

35 Discussion Topic 1 What do you suggest for FIs that have a very limited set of marketing resources? 35

36 Discussion Topic 2 How do you get your branch staff involved in the selling & marketing of RDC? 36

37 Discussion Topic 3 How do you identify and target the right segments for RDC? 37

38 Discussion Topic 4 How can you best use new technology and tools to cost effectively help you market RDC? 38

39 Discussion Topic 5 How do you make RDC customers comfortable on the dimensions of security and safety? How do you make your own bank comfortable? 39

40 Summary / Takeaways There is a tremendous undeveloped RDC market (traditional and mobile). Sales & Marketing are instrumental to developing market potential. Leverage vendor partners for resources and ideas. Measure results if you don t keep score you are only practicing. Then take one of three actions for the program refine, extend, or stop. Download these Fiserv Whitepapers: Breaking the Mobile Banking Glass Ceiling Mobile Banking Adoption: Your Frontline Staff Holds the Key to Growth Three Things You Need to Know About Mobile Deposit The Raddon Report, Aug 1,

41 Questions? 41

42 About The Presenters Michael Pratt Panini, Chief Executive Officer Victoria Lant Fiserv, Product Marketing Director fiserv.com/sco Brian Collins Enterprise Bank, ebanking & Payment Services Director & SVP 42