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September 17, 2008about me
Hi, I'm William and I head up the WEB Team (Web Engagement & Banking) at Vancity, Canada's largest credit union.
My opinions and views are just that, and don't reflect the views of my employer (or, perhaps, anyone else).
I can be found on LinkedIn, Twitter and Facebook.
my peers
:.BankerVision
:.Banking Kismet
:.Banktastic
:.The Bankwatch
:.Benry
:.The Boardcast
:.Buzz Canuck
:.The Client Side
:.CU Communicator
:.CU Employee
:.CU Hype
:.The CU Loop
:.Currency Marketing
:.Denise Wymore
:.Doug True
:.EverythingCU
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:.Marketing ROI
:.NetBanker
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Are you a financial services marketer in Vancouver?
Back in September at BarCampBankBC I met a man named David Cesarini. David is truly interested in financial services marketing, and after BCBBC he and I met up and I enjoyed chatting with him a lot.Now I see that he has organized The Vancouver Financial Services Marketing Meetup Group. Sounds interesting (if you're an FI marketing geek, that is), so spread the word.
The first Vancouver Financial Services Marketing March Meetup will take place on:
Wednesday, March 25th at 6:30pm
At the Dulcinea Chocolate Cafe
1118 Denman Street (map below)
I'm going to try and be there, so let me know if you are planning on going!
View Larger Map
Labels: banking, bcbbc08, credit union, marketing, vancouver
posted on Tuesday, March 03, 2009
Four down, one to go.
I honestly have no idea what I was thinking a few months back when I agreed to speak at five conferences in two months. Today I finished my penultimate engagement, and I'm starting to feel relieved.It was been an extraordinary honour to be able to address such a diverse set of audiences.
- From the Internet Marketing Conference here in Vancouver focusing on general online marketing techniques and tactics
- Organizing and promoting BarCampBankBC, which was a truly amazing, inspiring and rewarding experience
- Traveling to Indiana for the 2008 Partnership Symposium which was an event I had been looking forward to for almost a year and was a fantastic chance to see many of my favourite CU people from across North America
- And today I spoke here in Vancouver at the IABC Communicating Social Responsibility Conference where I got to address a room full of people dedicated to bringing integrity and values to their business models.
After Net.Finance East, I have nothing until January when I go back to New York for The Finance 2.0 Summit.
Next year, I need to be a whole lot more selective, I just can't afford to be away from the office and my family this much.
It feels a little like the end of an era for me. I have learned a ton, met some amazing people, sparked some incredible dialogue and really found my place in the industry. If you're reading this, it may well be because we met at one of these events. If so, shoot me a comment and say hello.
(photo credit by Brent Dixon)
Labels: azaroff, barcampbankbc, bcbbc08, conference, netfinance, partnership symposium, social marketing
posted on Friday, October 17, 2008
BCBBC08: Some final thoughts.
I am elated that BarCampBankBC was pulled off so wonderfully. It was a true pleasure to plan it and host it. But most of all, it was amazing to attend.I must thank my two incredible partners in crime, Tim McAlpine and Gene Blishen. It was a great experience planning the event with these two. I also want to thank the incredible Brent Dixon who ensured as much of the event was webcast as possible and Morriss Partee for his truly hysterical and humbling Pecha Kucha.
I've updated the wiki with all the blogs and photos from the event I can think of. If I missed any, please add them.
In the end, it's less about any particular thing that was discussed than the nature of the conversations, the quality of discussion, the collaboration, the learning and advising. Two trends that emerged, I think were the future of banking and the ethical nature of banking. I was surprised that the session on social finance was completely full, almost everyone came and it was a lively discussion.
I'm tired, and I may post again as the dust settles for me, but I wanted to get a post out before the day ended. I am grateful to all the people whom I got to see again, all the new people I was fortunate enough to meet and all the people who engaged in the conversation. You make my life a better place.
Thank you to all who attended and contributed. It was a real high!
Labels: banking, barcampbankbc, bcbbc08, conference, credit union, innovation, vancouver
posted on Sunday, September 21, 2008
BCBBC08: Can FIs Have a Heart?
What value is there in community activities, and where should we be focusing our efforts?Should people trust a CU more than a bank just because its community oriented? We answer to members not stockholders. We're a co-operative. Banks have shareholders that have to derive a profit.
Does that message get across to our members?
People can love their bank. The attitude and heart people put into their jobs translate into customer engagement.
First Direct is the most referred bank in the world, and it comes from great customer service. The people make the experience. If your employee experience is excellent, customer service will be good and customers will be happy and loyal.
In theory, CUs are a step closer to their customers/owners than banks. In reality, it doesn't always translate.
Banking is a commodity.
Banks throw more money at the community thaqn CUs can, but the perception is that CUs are more engaged in the issues.
Can an FI increase relevance with specific segments? Are we one size fits all with segmented marketing programs. If we were starting a bank today, we would model the brand on some segment specifically, and choose a market niche.
Labels: bcbbc08
posted on Saturday, September 20, 2008
BCBBC08: Mobile Banking
Do people want an iPhone app or just browse to the company's site? How much more effective is a .mobi site?Mobile web degrades in areas with poor reception, like some mountainous rural area. A native app passes less data so the degradation isn't there as much.
The chip card could give greater access and data if plugged into a smart phone to allow for more complex transactions.
For alerts, there's push and pull. A pull system sends out batch updates that meet a criteria (like a balance falling below a specified threshold). Push incorporates into a core platform and knows when the criteria is met and pushes the alert out. This will give more instantaeous results, and be more customizeable.
Will all FIs produce a very similar solution, or will they find a way to differentiate via a mobile offering. Right now, it's first to market, but soon we'll all just have the same thing?
Is it suprising that FIs haven't tried to differentiate based on their online banking offer, functionality, usability, etc...
People will notice their mobile phone is missing long before their wallet or credit card is missing. Makes sense to embed payments into it.
If via mobile banking people want to see their full financial picture quickly, it may push people to use FI aggregators like Mint or Wesabe. Mobile could create the tipping point for those third party solutions.
Could it be something like a branded tip calculator is better advocacy and relevance than actual mobile banking. The tip calculator app in the iPhone app store is the most popular financial app. Are we overthinking?
Mobile is an opportunity to reach customers wherever whenever. What's the most relevant way to do it. Alerts are a simple FI interaction that helps the customer. It differentiates from online banking in a way only mobile can.
ATM locator is a more powerful mobile app than mobile banking.
Labels: bcbbc08
posted on Saturday, September 20, 2008
BCBBC08: Social Finance
What is it? Is it giving a neighbour some money to start a business?Is it microlending, Grameen Bank style?
The disbursement of money around society?
The societal impact of our spending?
How do we convene ethical business and not-for-profits to learn from each other?
Can an FI make money and do projects at the same time, such as investing in green building projects?
It isn't rampant capitalism.
It's spending money with an eye to social impact.
It's looking at the entire suuply chain to ensure the business is providing equitable results.
How big is social? Is it our community, or is it global? Is it the people we do business with?
Spending, lending and investing with intention. To ensure good things results from those transactions.
If companies do more ethical business practices, they become more sustainable economically.
Social enterprise is a part of this. Not for profit and co-operatives are starting business models. This results in less environmental impact, and alleviates poverty.
Measuring impact is essential to being a part of social finance. ING Direct encouraging people to save, is that a social finance impact? Or is it marketing happenstance?
Intentions are key in order to examine the ultimate and inclusive impact of a business model.
Is there such a thing as an altruistic act. All transactions have to be successful.
It's an amalgamation of capitalism, socialism and altruism all working together. Bill Gates calls it creative capitalism.
Do we have an anti-social economy?
Social capital. The Bowling Alone theory of a deteriorating community across society. How do we build in more social capital into our framework?
What's the line between advocacy and advice. Giving people a sense of the societal impact of their spending, versus advocating that they change their patterns.
What is the relevancy to that community?
If you're talking about lending, you're not talking about telling people how to spend their money, but how to spend the bank's money.
In social lending there is a fluid tie between socially progressive stories from those who want money and the good rate they get. People will offer a lower rate to socially responsible lendees.
Labels: bcbbc08
posted on Saturday, September 20, 2008
BCBBC08: Our Future Customer.
What will a future customer wants from their FI. How will they learn financial savvyness.Will they just go with the FI that has a relationship with the university they attend?
What are the ways CUs can bring the concept of membership to life in a new way.
What is the banking equivalent of the Starbucks concept of customization? To offer different bundles, options and levers people can swap to come up with something to move them forward, and change as they move through lifestages.
What will the needs of the future generation be? Maybe they won't want big mortgages, but might want more travel. Everything's done via cell phone.
Sense and respond marketing. What are people asking for, what are they actually doing, and how do we react instantly.
How can people harness their internal wisdom of crowds to understand customer patterns and better meet their needs.
Imagine a Twitter like field inside Online Banking so FIs can get casual feedback on what customers are thinking. Then create a tagcloud so everyone can see what the general mood and thoughts of the customer base is...
The root is: We're listening to you. That might be through data anlysis, feedback mechanisms, transparent servicing, authentic customer support sometimes publically.
As FIs, we need to be where our members are, and not bring them to where we are. Show up on Twitter and not create our own mechanism.
Labels: bcbbc08
posted on Saturday, September 20, 2008
BCBBC08: The Future of Online Banking
Will FIs own the Know Your CustomerWhat will tools like Mint, Geezeo, Wesabe do to the industry
What do people want to compare? Lifestyle, demographics, geography? Can users decide?
Third parties use the main FI as the verifier.
Five new entrants in the Wint, Wesabe model.
Paid financial coaching model, like eBay. Pay someone and then their reputation build through network. People can buy cheap advice.
Is there a need for a human being to make that advice, or can we make the wisdom of crowds? Is that too much work?
Clients are getting more sophisticated, and are demanding more.
Ubiquity of banking. Micropayments.
Why does it take three weeks to move money between FIs?
What about people with poor financial knowledge, and underbanked cannot take advantage of this.
Where do people trust. It's with the advisor not the insitution. Like a hairdresser, people follow them around.
What about creating an automated financial literacy score based on their financial transactions and history.
Alerts are part of the solution.
Social Financial Management tools make people engaged with their money.
Most consumers do banking because its necessary. Do we engage people to make them see it as more necessary, or do we make some decisions on behalf of our customers?
Is the real opportunity in real time payments and transfers between FIs and financial alerts. Is that where we should be focusing and let those who are financially savvy and engaged use the Wesabe's?
Real time alerts so you get a mobile alert 5 seconds after you make the transaction (buy the soccer ball), which is great for security and engagement.
Make it as easy as possible.
Will banks eventually just have an API and be purely a commodity?
Have we commoditized ourselves completely? What is the difference besides the people we deal with personally.
Can a bank brand ever be an Inspirer like an Apple or Google?
What is the gap between how people talk about their online financial needs versus their own ability to prove the highest ROI.
Conversations inside the FI is about protection. But also confidence in their offering and differentiation so they will retain their curstomer base.
Labels: bcbbc08
posted on Saturday, September 20, 2008
A note to those attending BarCampBankBC.
Okay, what is this BarCampBank thing about?With BarCampBank coming up this weekend, we thought it would be good to let you know what we're all in for.
The first thing we'll do on Saturday morning is a quick round of introductions, so we know who we have with us. Then, those of us who want to create a session will write it up on a piece of paper and stick it on a grid made up of times and rooms. Once we have the sessions on the grid, the people who wrote them up will give a short pitch to the rest of us.
Then we'll vote with our feet and join the sessions that interest us. If no one comes to a session, it's cancelled. If someone wants to take up two time-slots in a row to create an extra long session, that's cool. If you're in a session that you're not interested in, leave it and find one that you like better. The conference will be developed organically by all of us together.
What often works well is to propose sessions around the things you want to discover and learn, not the things you have to teach. Curiousity is the name if the game.
All participation is welcome (well except for pitches for specific commercial products or companies, and long-winded presentations). Participation, however, is not mandatory. If you want to listen more than discuss, that's up to you.
We are lucky to have a great mix of local BCers and people who have travelled from far and wide to participate. Some of us have been to a BarCampBank before, and many have not. We have all the right people and expertise to create a truly amazing weekend.
We hold this philosophy to be true:
The right people will show up and the right things will be discussed.
Pecha Kucha
At the end of day one, we'll have a Pecha Kucha, where each presenter is allowed 20 images, each shown for 20 seconds, giving 6 minutes 40 seconds of fame before the next presenter is up. If you want to do one, come with your presentation on a USB key.
Thinking of live blogging or taking photos?
We welcome all ways to record the sessions. Update the wiki, blog it, upload photos to flickr. Tweet away! We'll all be using the same tag, which is:
bcbbc08
Anything else?
Oh yes, breakfast will be provided both days, and lunch will be provided on day one. On September 20th, we'll start at 9am and wrap up at 5pm. On September 21st, we'll start at 9am and wrap up the whole thing at 1pm. Please come on time, so you can participate in creating the sessions.
We'll be at the BCIT Downtown Campus, 555 Seymour Street.
We look forward to seeing you here!
PS: Here are two great resources.
Labels: banking, barcampbankbc, bcbbc08, credit union, innovation, technology, vancouver
posted on Wednesday, September 17, 2008
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