FinTech Influence on Today’s Generation

PLEASE share and like my entry submitted to the FINTECH Book, the world’s 1st globally crowd-sourced book on FINTECH. Readers that enjoyed this initial abstract are invited to share and like it so that it may be featured in a longer version that will published in the FINTECH Book due to be released November. 

Perhaps it’s time for incumbents in traditional banking institutions to ease the fear towards FinTech, and embrace the strong positive social impact that it radiates.

https://medium.com/the-fintech-book/fintech-influence-on-today-s-generation-e899639dbfd3

MIT CIO Symposium - INVENTING YOUR FUTURE: ACCELERATING SUCCESS THROUGH TECHNOLOGY

CIO Symposium Contributor
http://www.mitcio.com/felipe-daguila-everis-consulting-ntt-data-company

YI Incubator - The Spirit of Innovation

World-class executives contribute to the YI Incubator, mentoring companies and providing subject matter expertise, helping our companies bring products to market faster and position themselves for the next stage of growth.

http://interactive.yodlee.com/programs/yi-incubator/mentors-experts

Omni-Channel Strategies and Online-Offline Integration

Consumers are using multiple devices and channels to make their purchases, but you know this already.

“Tell me something I don't know”, you would say.

There was so much hoo-ha on the topic of ‘omni-channel’ in the retail world in 2014. Big word it is. The words social media and cross-device technology start to surface so often that everyone is talking about it – sounds like Citizen Kane!

Although we have seen fast growth in mobile, programmatic display and video ad spending, the quickest-growing category in digital advertising is actually social and we recognize this treasure trove of demographic data that social provides by leveraging it in our social marketing efforts and other channels as well. Did you notice who and what are we targeting? Target audience! We are hungry to find out consumer behaviour, consumer experience and consumer preferences. Indeed, audience is the name of the game and as we learn how to collect and act on audience data across channels, it opens up exciting new opportunities to test different strategies.

The famous US department store, Macy’s, has been experimenting with iBeacons which is a micro-location technology in mobile app that is transmitted using Bluetooth Low Energy (BLE). Customers who enter Macy’s with the Shopkick app installed on their iPhones will be alerted about details of location-specific rewards, deals, discounts and how many products they have ‘liked’ in that store without them needing to open the app. When customers pass by any items they had ‘liked’ previously on the app, Shopkick app will remind them as well.

Customers are using mobile and tablets in a number of different ways to supplement and enhance their shopping behaviours whether they are for brand research, social validation prior to purchase or even for transactional purposes. However, the ultimate conversion more often than not happen in-store. Hence, retailers and marketers need to seize this opportunity and take advantage of the crucial moments to connect with customers as they are making decisions.

Another retail and ecommerce store that integrates online and offline is IKEA.

IKEA introduced an AR app to enhance its 2014 catalogue, all the customers need to do is place the 2014 catalogue in any space within their home, activate the app and they can see exactly how a virtual Billy bookcase or Ektorp sofa fits into the real-time environment.

It is crucial that marketers understand the factors or events that influence the consumers to decide on their purchase and to quantify the influence as well. Hence, the importance of attribution model in Marketing. However in the world of digitisation, marketers need to constantly improve their attribution model.

I have to admit improving attribution model is not an easy task and regardless of how sophisticated the model will be, it will never be able to keep pace with increasingly sophisticated customer behavior.

Yet, this step is essential. Algorithmic attribution modeling may or may not be worth the investment but even getting started with a basic version of multi-touch attribution modeling is better than continuing to rely on last-click attribution.

And that’s my 2c.