A Data-driven, Systematic Solution for Recruiting Millennials Spendology Digital Soapbox
Jul 29, 2015
Executive Summary
Spendology delivers apps, software and consulting service that activate intelligence in organizations.
Spendology is founded and run by Millennials.
Spendology’s Digital Dashboard is a data-driven, systematic methodology for acquiring, retaining, and delighting Millennials customers.
Spendology Spendology develops apps, software, and services that activate financial intelligence in people and organizations.
Consumer:– Social Content– Mobile Apps– Web Apps
Business:– Resources– Training– Consulting– Custom Software Development
FounderK. Alexander Ashe
K. Alexander Ashe has 7+ years experience at the National Institutes of Health improving the performance and safety of processes, systems, and biocontainment facilities.
He previously worked as a management consultant at Booz Allen Hamilton and the Corporate Executive Board. He is a member of Kappa Alpha Psi Fraternity, Inc.
Mr. Ashe is a graduate of Florida A&M University and Columbia University. He belongs to the inaugural class of Bill & Melinda Gates Millennium Scholars.
SpendologyValues
Service Value: Improve Decision Outcomes– Psychology/Behavioral Economics– Advanced Analytics– Data Visualizations– Data-driven decision-making– Make it (Super) Easy
Core Values:– Diversity– Respect– Innovation– Creativity
Accomplishments Ariba Discovery:14 projects, 41 invites from Bank of America, 21% project win rate.
CEO invited to speak at Ariba Live Conference.
Selected for Google Developers Startup Launch.
1400+ consumer customers, 1000+ social media followers.
Digital SoapboxDigital Soapbox is Spendology’s data-driven, systematic, and
integrated framework for recruiting Millennials.
Digital Strategy
Spendology’s Digital Soapbox provides a simple, step-by-step process for developing a digital strategy to recruit millennials.
Source: The Consumer Decision Journey, McKinsey & Co.
Program Development
The Customer Decision Journey
References The Future of Loyalty: “By 2017, millennials will have more spending power than any other generation”http://independentbanker.org/2014/08/the-future-of-loyalty/
FICO: Millennials Love Mobile Appshttp://thefinancialbrand.com/41538/millennial-gen-y-banking-research/
Millennials are High Tech and High Touchhttp://thefinancialbrand.com/43186/millennials-banking-research-facts/
Making Millennials “Sticky” The changing role of the CMO in the financial services industryhttp://www.sas.com/resources/whitepaper/wp_65234.pdf
PWChttp://www.pwc.com/us/en/financial-services/publications/viewpoints/assets/viewpoint-retail-bank-customer-centric-business-model.pdf
Scratch by Viacom Mediahttp://www.millennialdisruptionindex.com/http://www.millennialdisruptionindex.com/wp-content/uploads/2014/02/MDI_Final.pdf
How Community Banks Can Win the War for Millennialshttp://www.americanbanker.com/issues/179_143/how-community-banks-can-win-the-war-for-millennials-1069009-1.html?zkPrintable=1&nopagination=1
References Millennials on the Move to Washington, DChttp://blogs.wsj.com/economics/2013/11/14/millennials-flock-to-washington-after-abandoning-city-in-recession/
The Customer Decision Journey http://www.mckinsey.com/insights/marketing_sales/the_consumer_decision_journey#
US Census Datahttp://www.censusscope.org/us/m8840/chart_age.html
US Census Data,2http://www.census.gov/prod/2010pubs/10smadb/2010smadb.pdf
US Average Checking Account Balance -$4,436 vs. $2100 25 year averagehttp://www.latimes.com/business/la-fi-consumer-checking-accounts-20140718-story.html
Maturing with the Millennialshttp://graphics.eiu.com/upload/Genesys_Millenials.pdf
Millennials and Loyaltyhttp://blog.accessdevelopment.com/index.php/2014/06/millennials-and-loyalty-all-the-stats-you-need-to-know/
Edelman 8095 Exchangehttp://www.edelman.com/insights/intellectual-property/8095-exchange/
References Oracle: Gen Y Survey Reporthttp://www.oracle.com/us/industries/financial-services/gen-y-survey-report-165297.pdf
Ernst & Young: Understanding Customer Behavior in Retail Bankinghttp://www.ey.com/Publication/vwLUAssets/Understanding_customer_behavior_in_retail_banking_-_February_2010/$FILE/EY_Understanding_customer_behavior_in_retail_banking_-_February_2010.pdf
Accenture: Digital Banking Survey 2014http://www.accenture.com/microsites/everydaybank/Pages/digital-banking-survey-2014.aspx?c=fs_dgbankcons_10000001&n=otc_0514
FINRA: The Financial Capability of Young Adults—A Generational Viewhttp://www.finra.org/web/groups/sai/@sai/documents/sai_original_content/p457507.pdf?utm_source=MM&utm_medium=email&utm_campaign=FoundationNewsRelease_031014_FINAL
The 2014 ICBA American Millennials and Community Banking Studyhttp://www.icba.org/files/ICBASites/PDFs/ICBAMillennialsandCommunityBankingStudyWhitePaper.pdf
Who are the Millennials Shoppers? And what do they really want?http://www.accenture.com/us-en/outlook/Pages/outlook-journal-2013-who-are-millennial-shoppers-what-do-they-really-want-retail.aspx