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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. 

"You've Got Cake!" A Tribute to AOL and its 25th Birthday

by Jimmy Marks

It was a phrase so popular, it became a movie title. A friendly little cheer from a friendly-sounding guy that let you know...

"You've got mail!"

AOL turned 25 this week, and I, for one, am a little nostalgic over it. When the "dot-com bubble" burst in 2000, it set an unhealthy precedent for tech and online service companies. Here today, gone later today - don't bother with tomorrow! 

When a web company turns 25, it's pretty remarkable. AOL (or "America Online", for those of who've forgotten) started in 1985 providing services via the Commodore 64. As time progressed, AOL helped shape the face of Web 1.0 and helped young dreamers get their feet wet in the Internet space. 

How you ask? 

1) Easy-to-understand interface - AOL wasn't the fastest, nor the most stable, browsing platform. But for dial-up service, it was still pretty handy. What's more, it was easy for a skeptical American public to comprehend. Remember how every commercial was "go to www.example.com, AOL keyword: Example"? Doesn't get much easier than one-word access to websites. It was bright, colorful, and almost idiot proof. 

2) 1,000,000 hours free! - We all got them, those colorful floppy disks (and eventually CD-ROMs) with hours and hours worth of AOL access for free. It set the gold standard for "trial use software", where you get x number of hours with access to a credit card. If you go over, you're paying for it. If you don't, no harm done...but you WILL be getting more of those CDs.

3) Instant Messenger - private chat sessions with your friends for free? Profile pages that you could customize as much as you wanted? Group chats? Sounds like a lot of Web 2.0 web apps I hear about these days. Instant messenger was free to download, and opened up folks to chatting all over the world. Now, there's chat on gmail, Facebook, and one might even argue it's an early father of Twitter. 

AOL is seeing some gray days (spinning off from Time Warner after that much-talked-about merger, re-branding, and when's the last time you got one of those disks in the mail?), but it was still where most Americans got their concept of how the Internet was supposed to work, what it was supposed to cost, and what to expect when you got online. If you ask me, I say they did a fine job of laying the foundations for where we are, and where we're going. 

Happy birthday, AOL. Keep on keepin' on. 

Social Finance - Is It Working?

by Jimmy Marks

Look at your watch. Let eight seconds go by. Boom - another social media consultant has just appeared and has come up with an article about how much impact social media has on people's finances. 

It's getting a little crazy. It seems like every time we turn around, we get one more guy saying that users of X social media site are Y% more likely to put their money in your credit union than any other human being alive. Whoops, another eight seconds went by, that's another guy yelling about how all those Facebook fans you have are the same as alternative capital!

Let's get serious for just a second. We've been talking social media for the last two posts (if you haven't read them, go do it). Come to think of it, we've been talking about social media for the last two YEARS. But we've never really taken the time to look at the impact "social finance" and whether or not there were numbers and trends you could count on when it comes to social media and online finance. 

America (Banking) Online

Louis Hernandez at Open Solutions wrote an article (It Takes a (Global) Village: How to Use Social Media - CUJournal, 4/19/10) about social media. Some interesting facts about deposit balances and social network users (most of which, it seems, were culled from a report by Raddon Financial Group): 

• MySpace users have the lowest amounts on average, with $11,891. 
• LinkedIn users has the most with $29,794
• Twitter users had $20,562 on average
• The average Facebook user has $19,339, but daily Facebook users average about $16,586. 

I found these numbers surprisingly high, given that we only started seeing a resurgence in savings in the past year-and-a-half or so. 

I differed to Ron (Daly, my boss), who said "Ask what the average amount is among people who want nothing to do with this stuff." He's betting it's going to be a lot more. Anybody got numbers, comment on this article and let us know. 

Other interesting numbers regarding getting financial advice via social:

• Only two percent of consumers have interacted with their FI while visiting a social networking site.
• Three percent would be interested in taking advice from a blog or SM site. 
• Only four percent said they had solicited advice about finance from a social media site. 

Two, three, and four percent? That's terrible. Is it because there are few FIs online and they're doing a bad job of social media, or is it that people aren't interested in "friending" B of A or their chief banking institution? (Yeah, B of A's Twitter has 7,000 followers, give or take, but I'm doubting all their followers are customers with issues, and with 53 million customers, you're looking at <.013% of customers being helped by their Twitter account.)

Some fresh perspective from Jeffry Pilcher's Financial Brand blog, which ran a "Datahead" article about online banking and social finance (his data's from Forbes, Mintel and ComScore to be clear): 

• 76% of online banking users have visited a branch in the past two months, while 68% have visited an ATM and 37% have called their call center. Mr. Hernandez's article says there's been a drop-off in branch visits even between '08 and '09, but 76% is still plenty high. 
• 75% of members/customers don't realize their bank/CU has online banking. Half of those that DO realize there's online banking USE online banking. That's 12.5% of consumers that are actively using OLB on average. But 87% of those are accessing OLB more than once per week.
• Half of all online banking users have mobile internet on their phone and less than half of those access their bank's services online from said phone - so, on average, about 23% of consumers are accessing their bank's site via mobile. 
• 65% of members wanted to get emails about their accounts(!) while only 8% wanted account updates via social media. 

On this evidence, I'm willing to make a few guesses about where social media fits in the big picture. 

1) Social media is good for ad hoc feedback, event coordination and notification, casual chat and (maybe) some selling. But most folks don't want advice from their social networks. And it's not specifically the networks, it's the people using said network. 

Think about it - do you want to talk about your Roth IRA or your Mortgage with the person who keeps sending you "Which Twilight Character Are YOU!?!?!?11?!" Quiz on Facebook? No, you don't. At least, I HOPE you don't. You trust a few people in this world to tell you what you should do with money, and that conversation doesn't have to happen in front of an audience of hundreds.

According to this article from eMarketer Daily, the number of people using social media is going to be growing to about 66% by 2014. Getting a foot in the door now is smart, given that the trend is increasing and the risk is relatively low, but expecting it to be "the fix" for your institution is unrealistic. People don't start a financial relationship with some bank or CU that they found on Facebook. They go find their bank on Facebook because they already have a relationship with them. 

People are loyal to a dependable product first, its associated brand second. Slap a member or customer with $200 worth of fees and all the social media in the world won't make a difference - they'll feel cheated and complain, and might even leave. Doesn't matter if they brought it on themselves -they're going to say it's your fault.

2) OLB, email and websites all need to be better. There's a reason you started offering online bill pay/banking, eStatements, eLerts and so on. It's because the more people are leaning on your online channel, the less they have to come all the way to the branch to deal with their money issues. Little things like transferring money between accounts and making payments are time sucks for a branch - let people work it out from home. 

Emails, eStatements and online notices are popular (it's why we exist), but we still have people who are on the fence about communicating with members via email. Why? What's stopping you? You don't have to put a ton of personal info into the thing and you aren't spamming anyone. "We might get phished," you say? Yeah, you might. But if you're actively engaging members with emails and getting them accustomed to what an email from you looks like, you're training them about what the real messages look like versus a fake one. Come on, people, it's 2010. "I'm scared of email" stopped being a valid excuse in 1998. Get in there.

If your OLB, emails and websites aren't up to snuff, you're missing out. This is Web 1.0 stuff, and 2.0 is about to hit the bricks in favor of Web 3.0 (does that blow your mind, because it should). You're going to see the big banks and their big websites increase functionality in the next few years, and as Robbie Wright of CU Innovators recently said: 

I will immediately think poorly of a product if they have a crappy looking website. crappy site=crappy product

less than a minute ago via CoTweetRobbie Wright

Let's just cut to the chase: you have a budget of $1 million. You can spend it on your websites and online banking, or on your social media initiatives. You can only spend it these two ways, and you can split it any way you choose. What are you going to spend it on, knowing what you know now? 

Talk to me, people.

Your Monthly Balance: Brought to You by McDonald's!

by Ron Daly 

Advertising on the Internet is a funny enterprise. You can create ads that move, almost like mini-commerical spots. You can make interactive ads that play games with potential customers. You can create wildly inventive ads that use dozens of colors and lots of crazy patterns, because unlike print, there's no premium on how creative you get. More importantly, you never run out of room. 

What do I mean by that? Sure, you have to meet file size requirements and format the ad to fit into the seller's ad space. In that sense, you are confined to a certain amount of space. But there's a lot of empty space on the Internet. I mean, a LOT. Have you ever seen the "Million Dollar Homepage"? A while back, a 21-year-old university student in England decided to buy a website and block off one million pixels worth of blank space that he sold for a dollar per pixel. The site was completely sold off in 2006 and all one million pixels are filled up with ads from companies of all shapes and sizes. The 21-year-old student grossed over a million dollars as a result. Quite a way to pay for college, wouldn't you say?

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? 

Divide and Conquer: Start Split Testing Today

by Jimmy Marks

 I'll go ahead and throw away the opening sentence of this article on an obvious statement: the internet has changed everything. We, as online creatives and marketers, are no longer confined to the constraints of the physical space (or "meatscape", as total weirdos call it). We can make our websites as big and bright as we like. We can publish our updates and releases at our leisure via blogs and online news services. We can change our minds and our products on a whim. We can animate, demonstrate, and, most importantly, split test. 

What is split testing, you're wondering? If you're not already doing it, today's your official start date. Split testing involves two (or more) options for a marketing campaign, website, email - any intellectual property that is designed to command user's attention. Typically, you set up your "A" and "B" choices and test each to see which gets the most user response/return. You might think these two choices have to be completely disparate, but the differences might be as simple as: 

• The placement of your "call to action" button
• A different subject line/title
• A different image in the body text
• Altered colors
• A different sender name (i.e., sending from "Member Solutions" instead of "Collections Department")

This involves a little work on your part. You're going to need to track conversions on these two website versions (that is, how many people take you up on your sales offer or click for more info). For traditional-mail marketing pieces, you can send both options in tandem and see which gets more response, then adjust from there. For email, you'll need to track opens, bounces, unsubscribes, etc. for each of your campaign choices. 

"So you're just measuring ROI ?" you ask. In a sense, but you're also measuring the strengths of one campaign's layout and language. Who's to say that, by putting your seminar ads up under your headline in a sidebar, you won't get more people signing up? Maybe members aren't calling because they don't know where your phone number is on your email or contact page. You might think these are trifles, but when it comes to engaging members and getting them to take an interest in what you have to offer, can you afford NOT to make a campaign better over time? Pick your pet campaign, give the components some thought, and see how a split test might improve it.

I could go into extra detail, but I'm hoping this has spurred you to start thinking about this for your websites, email campaigns, newsletters and marketing pieces. Here are some resources to get you started: 

• An article titled "10 Factors to Test that Could Increase the Conversion Rate of Your Landing Pages" (catchy title, no?). A good walkthrough, with some important points to keep in mind as you move forward. 
• From DailyConversions.com - An article in which one of the website's marketing specialists does split testing on a local homeless man's "please give" sign. It seems a little weird at the start, but his work with the homeless man's sign placement and content changes the homeless man's luck and drives up donations. A really strange exercise, to be sure, and not one I'd recommend repeating, but still worth a look.
• Five Second Test is a great website that lets you test website layouts and the impact your current layout has on a random spray of audience members. Simple, fast, effective, and free, it's worth the time it takes to throw up a few potential layouts and examples. 

And I wouldn't be much of an ad guy if I didn't take the time to tell you that DigitalMailer's Automatic Relationship Builder (ARB) has built-in split testing capabilities. Start marketing smart by visiting our website, or give us a call at 866.994.4900 ext 115.

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.

Where is "The Fold"?

by Greg Crandell

Back when newspapers were as simple as "Really Simple" syndication got, being "above the fold" or "below the fold" was something that mattered to editors and advertisers. Being above the fold means better visibility and a greater likelihood of response and recognition. While fewer folks are reading papers these days, ads and articles that are above the fold are still regarded as more important and more desirable. 

This concept has translated to web design to some degree. It's led most folks who design websites to post all the "good content" just under the site header, or anywhere within the bounds of the "first scroll". More and more these days, web designers and usability experts are questioning whether or not "the fold" exists on the web. 

This article from Clockwork Active Media Systems starts shooting some holes in the conventional wisdom. Better information architecture, says the article, is much more important than where things are relative to the fold. Some resources from the article that might be helpful to your design team/web managers: 

• http://browsersize.googlelabs.com/ - this link will show you browser sizes and percentages, indicating how many people have their browser windows open to a specific size. How many people, on average, are seeing your actionable content? Do they have any way to contact you? Do they see content worth seeing within a specific size range? Type in your own URL at the top to use the overlay.
• http://www.thereisnopagefold.com/ - Get used to websites such as these - with URLs being easier to register these days, "single serving" websites like this will become more prevalent. Have only ONE thing to say? You need a single serving site, just like this one. If this is a little technologically advanced for you, let me give you a hint: scroll down. The folks behind the "There is no page fold" movement want to get away from this above/below fold mindset. If users see anything interesting on your website, they'll scroll; if they don't, they'll bolt. Simple, right? 

I'm not an expert on where people look/how they behave online, but I will say that I'm more inclined to read through a page that's linked to me. If I've got a few minutes and I need to find something on a given website, I'll browse around and hunt for the information I want. Going back to the design argument, if something is clearly defined or demonstrated on a website, scrolling to find it won't bother you. Better to have information that's easy to understand than information that's easy to find, but better still to have both.