Click. Connect. Communicate.

Confirming channels, one through the other

from Jim Bruene at NetBanker:

But what really impressed me was the followup email I received shortly after completing the call (see below). It outlined what had transpired and provided several useful links to help in the migration from the old phone to the new. In addition, the company wisely encouraged self-service account management with several links below the signature line. Finally, the company inserted the name of the actual rep I'd talked to at the bottom.

We're getting to a point where "service" isn't handshakes and hugs - it's practical, fast, useful information that matters not to "everyone", but to one consumer in particular, every day, dozens and hundreds of times. 

 

TMG's Jeff Russell on the Future of Payments - The CU Water Cooler

Jeff Russell from TMG Financial Services gave a great talk at the Water Cooler Symposium about the future of payments. Where are the technologies that have everyone talking, like NFC and PFM, and where are those technologies going? What is the threat level from outside players, like Google and Apple? Jeff has some sharp insight, and you can watch it in the video below or over on the CU Water Cooler website. 

 

2011 CUWCS - Jeff Russell from Tim McAlpine on Vimeo.

Tech News Roundup

Every week, we here at DigitalMailer come up with a number of articles and resources that we share with one another, talking about the "next wave" of finance technology. Here's what caught our attention recently: 

Electronic channels at “social banks.”  (from BAI)

Fixation on Location (from GonzoBanker)

Cloud Computing is Greener (from Harvard Business Review)

Why Community Banks Need a Product Advantage (from BAI)

There IS an app for that...but why? (from CU Soapbox).

Keeping an Eye on your Web Presence

by Ron Daly

With all the talk about growing your brand these days, managing reputation risk is becoming more important. Imagine there was a clause in the lease or deed of your branch that allowed someone to buy it out from under you and completely replace you. In minutes, your branch is gutted and replaced with a chop shop. Customers coming in to handle their business are baffled - the sign and location are the same, but why are these guys stealing our hubcaps? 

In real life, such incidents are unlikely. On the Internet, however, it can and does happen. Organizations and businesses let their URLs and domains lapse and they're snapped up by disreputable businesses and spammers. The Financial Brand pointed to a perfect example of how NOT to manage your online presence(s) in this recent post. TIAA-CREF let the domain rights to one of their special micro-sites lapse and the domain was bought out from under them by...well, just go read their article. It'll stun you. 

We've seen similar issues arise with folks who switch Twitter names or Facebook pages. They make the switch, a spammer takes over their old name and starts spamming their followers. It's remarkably easy to lose control of your domain names and your social media accounts. What's worse, the fact that the management of these accounts and URLs is inexpensive relative to how much it can cost you in customer dissatisfaction. 

I'm going to be very direct and lay it all out there for you: you need to have the day your URLs expire very clearly marked. The same is true of your hosting - one of the worst things is a site pulled down for non-payment simply because a check wasn't mailed or a credit card number changed. Your webmaster(s) should stay on top of these issues and should be able to tell you, on demand, when your renewal dates are. 

How do you avoid the TIAA-CREF issue the Financial Brand discussed in their post? One FB commenter has the right idea: 

Bonnie: 
July 14th, 2010 at 7:54 am

In some cases, maybe it would be better to create a page on your website, instead of creating a separate microsite with its own unrelated URL, for a temporary promotion.

Sane advice. A special domain for a special promotion can be effective, but you need to treat it with the same care as you would your day-to-day customer-facing website. 

Go find out when you need to renew your domains today. You'll be glad you did tomorrow. 

How a "Like Button" Could Make a Difference For Your Website

by Jimmy Marks

Remember those notes you used to send to people in grade school with three check boxes and the text "Do you like me? Check one: Yes, No, Maybe"? You, a shy little kid, send your classroom sweetheart a little note to see if they liked you. Then maybe later you held hands on the playground. It was social media, version 0.2. 

Fast forward twenty-some years (or more, in some cases) to now. In case you missed the past six years, social media - and specifically, Facebook - has made those little paper notes a big online enterprise. 

The sweet little "do you like me?" note has been replaced by a very simple button that simply says "like" (or "recommend", in certain cases) with a thumbs-up. The three checkboxes for "yes/no/maybe" aren't really an option - if you like something, you like it, and click the "like" button shares the fact that you do with your friends and your network. If you don't like it, you don't click it. Silence, in that case, speaks volumes.

The "like button" for Facebook began as "Become a Fan", a button that drew links between a Facebook user and a product page on the site. For example, if Coca-Cola had a Facebook fan page (it does), I could click "Become a Fan" and on my profile page, it would say: 

"Jimmy has become a fan of Coca-Cola."

Now, with the like button, a fan page is no longer necessary. I can put a like button on all our product pages and Facebook users can share that page via Facebook without having to find it on Facebook. So why does this matter to a business? 

The like button launched last month and is now prominent on 50,000 websites across the Internet, according to CNN...and growing, no doubt. Many have raised questions about how the like button and the data that comes from clicking it is going to change the web. Privacy issues abound, specifically when it comes to "cross talk" between Facebook and other sites you use. This PC World article spells out an example - you use the like button to tell folks about a band you like, then music services like Pandora will start changing the music they play for you based on those likes. For most folks who have Facebook profiles, it's a grievance hearing about every person's every like. For people and businesses who are looking to reach specific groups and sell to them in a specific way, this little button is something you should definitely like. 

First, there's the concept of free advertising. We've been talking for years to the business world about how the Internet is changing the game and this is the best example of that. Word-of-mouth is still your best bet for driving growth and encouraging cross-sales (see our DMI Blog post on NetPromoter Scores). How can you turn down 5,000 people liking you and sharing your content on the most popular site on the Internet? 

Second, there's the mountain of available data that people are pouring out day after day. When you see who likes your business or product, you also see everything ELSE they like. In a "like-pool" of 500 people, 300 like iPods and iPads. Why not make that the giveaway for your eStatement enrollment campaign? Let's say 80% of them are over the age of thirty. Why bother hitting them with "off to college" campaigns and student lending materials? Sell to their interests. Stop blasting, start targeting. 

Finally, there's the tradeoff of effort to payoff. Setting up a like button on your site (or sites) takes very little effort and can end up paying off if you develop a strong Facebook following out of it. We've already been over how to get going with "share" buttons, and the minimal effort necessary to get started. If you're a b-to-c, you officially have no excuse NOT to get going with social media sharing/liking links and buttons. It takes very little time and can have a big impact on your web initiatives. Go do it.

Those little notes from grade school have changed, but the feeling's still there. It's always good to know someone likes you, and it's always good to have proof of it. Maybe it's time you find out how willing people are to spread the word about your business - and time to make adjustments based on the results. 

Your comments are always welcome. 

Feedback Loops - Part of a Balanced Budget

by Ron Daly 

No, it's not a sugary breakfast cereal - a feedback loop has to do with information and systems. A real life example: 

1. We got a Wii® Fit™ for our home
2. We got on and tested our balance and posture
3. We went through a series of crazy games involving hula-hoops and yoga poses
4. We re-tested our posture to see how it had improved

But there's a fifth step, one that happens from the moment we turn the game on until the moment we quit and go get a sandwich - it's self-correction. 

As you play, your character is being challenged to walk a tight rope, dance, and stand very still. The game gives you feedback about your posture and stance, evaluating your performance and telling you when you do whatever you're doing the wrong way. You try to get better, little by little, as you move through levels and exercises. Steven Levy of Wired has an article about being beaten down by these workout video games. His reason? He was TOO focused on his workout, as opposed to usual gym distractions. 

An article from Harvard Business Review, "The Cost of Being Omniscient", talks about feedback loops in business and how they change the behavior of a buyer/user. From their article:

Anyone who doubts the power of feedback to influence action hasn't stepped on a scale before dinner. Customers under pay-as-you-drive plans almost invariably start using their cars less and buckling up more. Enel, an electrical utility in Italy, saw the same effect. After it installed "smart meters" in homes, its newly aware customers collectively spent 500 million euros less per year on electricity.

We have come to a point where "Information Age" doesn't quite describe where we are as a society. I think "Feedback Age" is a better fit. The more social the Internet gets,  If you're interested in bettering yourself, there's info everywhere on how to get it done. Your iPod isn't just a music player, it's a pedometer and a calorie counter. Your car is telling you when you're not driving safely. Your house tells you to shut off your lights. As a result, you jog faster, you drive better, you live greener. Why? 

The Lost Highway: 30% of Americans Don't Have Internet

by Ron Daly

As the president of a company providing an array of online services, I'm always a little baffled by statistics such as this one from the Census Bureau. 

From Asylum.com - 

Almost one in three Americans don't use the Internet at work or home.

New census bureau data, collected from 54,000 households, finds that seniors, the poor, underrepresented minorities and folks who live in rural areas lag behind the rest of the country, technologically speaking.

It stands to reason that folks in rural areas and the elderly aren't getting Internet exposure, but I'm the kind of person that thinks if a person really wants Internet access, it should be available and affordable. 

I'm sure there's a percentage of folks in this country who just flat-out don't want the Internet. To each his own - if you don't feel as though you need it, don't bother with it. But Congress and the FCC are stepping in to increase the availability and affordability of online access, thanks to the American Recovery and Reinvestment Act and the National Broadband Plan.

From eWeek.com - 

Federal Communications Commission Chairman Julius Genachowski has already said the National Broadband Plan due to Congress in March will call for 100 million households at 100M bps by the end of the decade. A coalition of consumer and advocacy groups like that but call for even bolder goals and milestones.

Among those, easy-to-interpret billing statements, smarter grids and a 90% high-speed adoption rate. The argument of consumer advocacy groups is that more access equals a level playing field for disenfranchised and neglected demographics in America. I can't be certain about the impact of high-speed Internet on people previously deprived of it, but for good or for ill folks who want access should be given it. The "Information Super-Highway" is supposed to connect people, not shut them out of communication. Let's get everyone on the road.

How do you feel about access for everyone? Will a "wired nation" happen by 2020? Tell us your thoughts about it in the comments section. 

Is the iPad REALLY going to change everything?

by Ron Daly 

A few weeks ago, we were talking iPhone apps. Now we need to make an amendment and change "iPhone" to "iPad". 

Apple's new innovation debuted to much fanfare a week ago, with people immediately responding with either exuberant delight or a loud "ho-hum". Is it the latest, greatest thing since sliced bread and a surefire change to the world of computing, or is it a giant iPod Touch that plays movies? If I know anything about Apple - and I don't claim to be an expert, but I DO own an iPhone - it's that Apple will be releasing a "Version Two" shortly thereafter with everything re-done. Advice from me to you? Wait a generation or two.

Something that's been striking me as kind of odd is the anti-Flash sentiment. Flash used to be THE thing that every site designer bragged about - we can do a Flash cartoon! We've got a streaming video player! Flash buttons! A Flash splash page, or even a whole website! 

The iPad, like the iPod Touch and iPhone, doesn't do Flash. And Apple is dead set against making plugins for their new wonder-toys. 

This has touched off the powder on a war between Flash developers/supporters and Apple devotees. Steve Jobs, head of Apple, is saying that Adobe (the people behind Flash) are being lazy. He blames most of the crashes that happen on your Mac-based browsers on Flash and says that HTML 5 is going to be the new way forward. 

Nations vs. 'Net - Online Diplomacy

by Ron Daly 

Let's say, for just a moment, that Google was a country. It's not so crazy - they're already dabbling in alternative energy. So let's say for just a moment that Googlevania comes to pass. 

Chief export? Search Advertising. 

National Security? Constantly upgraded! 

Taxes? You can live for free, but you can live BETTER if you upgrade. 

Seems like it works for them now, and how can you not like a country with the motto, "non exsisto malum" (that's Latin for "Don't Be Evil"). 

I bring it up because of recent events in which national governments are getting into squabbles with the titans of the computer age. Sure, back in '98, the Browser Wars were raging and then-Attorney General Janet Reno took on Microsoft for bundling Internet Explorer with Windows 98. Twelve years later, Microsoft is being vilified not here at home, but in France and Germany. French and German officials are insisting that people stay away from Internet Explorer as their browser, citing security issues with the most popular browser on the market. Clearly, Microsoft is upset about this. From the BBC article: 

Mr Cluley said that switching away from IE could create other problems, particularly for companies. 

"Some web-based applications may not work at all if you're not using Internet Explorer." 

Microsoft is currently working on a patch for the problem, but a spokesperson said it could not commit to a timeframe.

This comes on the heels of news that Google (not Googlevania, just regular Google) would pull out of China if the Chinese government continued to upset the delivery of emails, via Gmail, to Chinese activists. This would deal a major blow to the "Great Firewall of China", the network of blackouts and blocks placed on content by the Chinese government that prevents certain information from being accessed by chinese citizens. 

France and Germany insisting users ditch IE8? Google pulling out of China over conflicts of interest? That means that Microsoft and Google are major factors in the national security and human rights policies of these countries. To what degree does "Laissez faire" apply anymore? And are these considered "international incidents", as they involve American corporations? Are they "trade disputes"?

Give us your thoughts in the comment section.

The Decoy, The Bait, and the Smarter Twitter User

by Jimmy Marks

Growing up in a rural community, you get used to hunting and fishing terms and techniques. Two such techniques I've seen used to great success are decoys and bait. 

The decoy is a preferred method of staying out of the sight of waterfowl. Lulling them into a false sense of safety with fake ducks or geese and getting them to draw closer so you can fire is a skill that many successful hunters learn early. Bait, obviously, is a key part of the fishing equation - without tempting bait, it's tough to draw a fish's attention. While these methods are important to hunters, they're even more important to Spammers. Regrettably, they're just as effective online as they are in the outdoors.

A number of credit union and finance Twitter accounts have been compromised lately. Our own Twitter account, twitter.com/DMI_CUSoapbox, received a number of direct messages from our followers/friends imploring us to click links and enter our personal information. Thankfully, we ignored most of these links and paid attention to the Twitter explosion that followed.

"Accounts hacked!" followers exclaimed. 

"Do NOT click the link," others noted. 

And from one or two Twitter accounts being compromised came three or four. And from all that hubbub came a stinging reminder: 

SPAM will always be around to ruin the party.