Dissecting The Demand For Mobile Payments

A Payments Source article titled Consumers Show Cautious Interest In Mobile Payments reported on a study of US consumers’ views on mobile payments. My take: Concluding that consumers are “cautious” in their interest in mobile payments is a misinterpretation of the data. Looking at the market for mobile payments as a whole misses the segment of consumers that I call Smartphonatics.

The Best Bank Customer Service Story I Ever Heard

The incident happened 18 years ago, and I only heard it for the first time yesterday. What makes that worth mentioning is that the story was from my father. I was in Florida yesterday for a conference that was 45 minutes from where my parents live, so they drove down and joined me for lunch. Here’s the lunch conversation: Mom: So what did you talk about in your speech? Me: Stuff. Mom: What kind of stuff? Me: Bank stuff. Mom: What kind of bank stuff?
Me: Bank customer loyalty stuff.

You Can’t Market Financial Services To Women

Marketing financial services products to “women” is doomed to fail, and simply not a very good idea. If 89% of the decisions are made by women, then pretty much ALL of the decisions are made by women, no? Which means, the ONLY people worth marketing to are women. What I’m trying to convey here — and I’m worried that I’m not articulating this clearly — is that “women” is not a manageable, marketable consumer segment.

Wookin’ Pa Nub: Banks Are Looking For Growth In All The Wrong Places

In the history of Saturday Night Live, there might not be anything funnier than Eddie Murphy doing Buckwheat Sings: Wookin’ pa nub in all the wrong places, wookin’ pa nub.Based on a (unrepresentative) survey of bank execs, it appears that banks, too, are wookin’ pa nub in all the wrong places. More than half of the respondents expect to grow through organic loan origination, while just 7% plan to grow through new revenue sources. There’s some serious short-sightedness here.