2012 Mobile Banking Trends 2012 Google
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Google Confidential and Proprietary 1 1
Mobile banking trends
Google, U.S. October 2012
Google Confidential and Proprietary 2 2
Getting mobile right is more important than ever
Source: Google Our Mobile Planet Study 2012, J.D. Power Associates Retail Bank New Account Study 2011, Google “What Users Want From Mobile” Study 2012
Acquisition Service Retention
40% 48% 1in6 of consumers will turn to a competitor’s site if yours is not mobile-
optimized
feel frustrated, annoyed and believe “the company doesn’t
care about my business” when a site doesn’t work well on a
mobile phone
people switching banks say a poor mobile
banking experience prompted them to shop for a new bank
Google Confidential and Proprietary 3 3
Consider how consumers navigate your brand
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
46% consumers that start banking activity on one device continue
later on another
98% will move between devices
within the same day
Google Confidential and Proprietary 4 4
Consumers don’t live (nor bank) in a vacuum
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
34% of consumers have started a banking activity on their desktop and picked
it up later on another device. 6%
28%
Google Confidential and Proprietary 5 5
Smartphones are the most common starting point
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
3%
56% 59%
of consumers have started a banking activity on their phone
and picked it up later on another device.
Google Confidential and Proprietary 6 6
Tablet usage mirrors desktop more than mobile
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
3%
14% 15%
of consumers have started a banking activity on their tablet
and picked it up later on another device.
1%
Google Confidential and Proprietary 7 7
Search is the bridge between devices
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
63% of users return to search when
switching devices.
52% will navigate directly
to the website.
Google Confidential and Proprietary 8 8
First impressions in mobile count
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
66% of users find mobile
sites through search
61% will go to another site if
they can’t find what they’re looking for immediately
(optimized or not)
79% of those that try again will
return to search, but are 5x more likely to abandon
the task
36% feel like they’ve wasted their
time if they can’t navigate easily around your site
Google Confidential and Proprietary 9 9
What do mobile users want from their bank? 1 They want to find you
Source: Google “What Users Want From Mobile” Study 2012
76% Look up branch locations
65% Looking up branch hours
61% Want to call
customer service 0%
100%
200%
300%
400%
500%
600%
Jan'11 Apr'11 Jul'11 Oct'11 Jan'12 Apr'12 Jul'12
Query growth
Google Confidential and Proprietary 10 10
What do mobile users want from their bank? 2 They want to manage their money
Source: Google “What Users Want From Mobile” Study 2012
77%
Check account balances
61%
Log into their account
51%
Pay bills
51%
Transfer money
Google Confidential and Proprietary 11 11
41%
53%
Download mobile app
48%
looking for social network page(s)
play a video about the company
What do mobile users want from their bank? 3 They want to learn more about you / interact with you
Source: Google “What Users Want From Mobile” Study 2012
Google Confidential and Proprietary 12 12
9% 9% 9% 7%
29%
18% 13%
10%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Bank of America
Chase Citi Wells Fargo
Used a mobile phone as part of the bank research process
Did not use a mobile phone
Mobile research is the differentiator % of all new deposit accounts opened
Source: Compete Credit Cards Study, 2012
54% that researched on a mobile phone applied
in a branch
28% that researched on a mobile phone applied
on a desktop
Google Confidential and Proprietary 13 13
What are mobile users looking for when shopping for a bank?
42%
Compare interest rates
Source: Compete Credit Cards Study, 2012
39%
Compare account features
35%
Promotions or offers
30%
Contact the bank
29%
Locate a branch
19%
Begin opening an account
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