Capital One has begun allowing customer service representatives to send small gifts to customers, while banks such as TD Bank have begun holding customer appreciation days to build better relationships. "It's just a shift in the thought about marketing the company; they can invest in nurturing the relationship," said Blake Morgan, a customer experience analyst.
Discover is embracing digital and social media campaigns in an effort to reach millennial consumers. Content partnerships with Mic and Mental Floss help Discover "find ways to bridge the gap between consumers and brands in a genuine way," said Kelly Megel, Discover's director of brand communications and sponsorships.
Goldman Sachs' use of Snapchat Discover is one example of how the firm is working to help those outside its customer base understand what it does. Amanda Rubin, global co-head of brand and content strategy, says Goldman is engaging in storytelling that has a broad appeal.
Customer feedback has led to improvements in online banking and changes to PNC Financial Services Group's website, says Karen Larrimer, head of retail banking and chief customer officer. PNC is also working to strengthen retail operations because "strong employee engagement yields strong customer engagement, and that ultimately benefits the bottom line," Larrimer says.
One-third of retail bankers are concerned automation will replace all or part of their jobs, according to a LinkedIn survey. Changes in the financial industry will create demand for workers with accounting and auditing skills, as well as workers with knowledge of software and cybersecurity, says Walden Siew of LinkedIn.
US digital advertising spend is expected to hit $86.4 billion in 2017, overtaking television advertising at $71 billion, PwC reports. The digital advertising market will hit $116.2 billion in 2021, compared with TV's $75.2 billion.
The National Football League put fans into mock living rooms that served as labs in order to study their eye movements, heart rates and other data that could help determine how to keep viewers more engaged in its games. As a result, the NFL will cut commercial breaks down to four per quarter starting in the coming season, with 30% fewer promotional messages during broadcasts.