Consumer Control via Mobile Apps

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Consumer Control Brings Brand Loyalty Back to Bank of America
“Bank of America’s foray into mobile banking is more than a gimmick, and its iPhone application is more than just a reason to issue a press release. Underlying all of the marketer’s moves into mobile services and marketing is a key insight: Give people more control over their banking on their own terms, and you’ll win their loyalty.”

Social, mobile presence gives more control to the consumer, which in turn leads to an increase in trust and loyalty. It benefits both sides of the equation in a brand-consumer relationship.

“…mobile, like most things digital, is not a channel so much as a way consumers live their lives and, consequently, a way marketers have to conduct their business. ”

Affect on Marketers:
Social media presence can not be treated as static; it must be adaptive. It is not a possession; it is a process. Consistent interaction with customers and providing visible, real-time responses to questions/problems are invaluable, but that may not be enough.

Talk3 is taking ideas similar to this to the next level. Bank of America has the social, mobile blanks filled in, but personal (even though the emphasis on consumer control is present) is slightly lacking. We can enhance the personal aspect with our use of semantic technology–creating a digital persona and enjoying an adaptive interaction. It seems to me that what Bank of America provides is heavier consumer influence, whereas with a system that learns about you, the individual, you surpass influence, and gain control.


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