Financial Services

The Role of Search in the Online Deposits Market

Compete recently held a webinar in which we analyzed the role that search plays in consumers’ online research for deposit products (savings, checking, CDs, etc.).  The study revealed some interesting findings about just how prevalent search is within the consumer buying cycle.  Some of the key findings from this webinar include: Overall online shopper and applicant volume declined in 2009, however share of online shoppers utilizing search, especially Google, increased

Insurance Advertising: A Q&A with Jon Swallen, SVP Research TNS Media Intelligence

Compete recently caught up with Jon Swallen, SVP Research, at TNS Media Intelligence, which like Compete, is in the TNS Media group of companies. At TNS MI he oversees the methods and procedures used to measure advertising activity and mines the TNS MI database to produce insights on a wide range of topics relating to the advertising marketplace. He is a sought-after source and expert, and is frequently quoted in

AMEX and Discover Dive Into Savings

With the credit market still in a state of disarray, traditional credit card companies are looking for ways to diversify their sources of funding. Two of the industry’s largest competitors in the card arena, Discover and American Express, have recently begun to offer a portfolio of savings products that compete directly with longtime leaders in this space like ING Direct, and relatively new entrants such as Ally Bank. This is

Progressive Insurance Gets Flo Going with Women Followers

Last week, Compete launched Ad Impact, a new offering that measures the effectiveness of online advertising. We decided to take Ad Impact for a test drive and what better place to start than with an online ad for auto insurance. You may recognize the character above from Progressive‘s peppy TV commercials. The character’s name is Flo and it turns out she has something of a cult following. Flo has her

T-Mobile and BillShrink.com: Friends with Benefits?

Over the next two years, I could save $721 in cell phone bills if I switched to a 1000 anytime minute individual T-Mobile plan plus 300 text messages and unlimited web. That’s according to BillShrink.com, a site that tells you which wireless carrier could save you money when you enter information about your cell phone usage, what you are paying, and where you use the phone. The site offers a

Bank Stress Test Results Out: Were the tests successful?

The results of the stress tests conducted on some of the nation’s largest banks were announced on the 7th of May. The tests were intended to distinguish the "˜strong’ banks from the "˜weak,’ and to instill confidence in the market. Of the nineteen banks that were stress-tested, nine banks were deemed "˜strong’ while ten were asked to raise more capital in case the recession runs deeper and longer than expected.

Both Consumers and Banks Push For Stability In The Current Economy

It seems that every day we hear different news about the economy in terms of a turn towards recovery. The stock market is continually fluctuating based on news in the job market, housing prices, and the nation’s financial institutions. While the hope is that there is nowhere to go but up, many of our banking centers are still struggling within the current climate. As a result, 36 banks have already

StockTwits Is On The Money

There is no denying the fact that the social networking site Twitter has exploded into popular culture this year. Unique visitors to this popular domain has grown over 225% since January (19,443,286 unique visitors in April 2009). While wading through the different applications for this type of information sharing, one offering in particular really caught my eye, StockTwits. StockTwits is an open community of investors that share advice and information

Banking to Go: What’s holding Smartphone owners back from banking apps

Smartphone applications have been receiving a lot of buzz lately. Banks are not sitting on the sidelines: according to ABI Research, a technology research firm, the number of US banks offering mobile banking will jump from 245 in 2008 to 614 this year. The supply of mobile banking applications is increasing rapidly, but what does demand look like? Do Smartphone owners want to manage their finances from their phones? As

Bank of America’s Focus on "Quality" Online Bankers

Online banking is an effective way for banking institutions to deliver multiple services in a low cost channel. By increasing online banking usage and moving customers to use bill pay and paperless statements, banks not only reduce servicing expenses, but also increase the switching costs for customers to another bank. Just think, once someone sets up account alerts and their online bill payments, it’s not an exercise they are going

Winning The Game: How To Become A Moneyball Marketer

In my post last month, I contrasted swing-for-the-fence Powerball Marketers from companies that follow a scientific, Moneyball Marketing discipline. The quick summary is that Powerball Marketing is analogous to gambling, and unfortunately many companies continue to make big bets without investing in data or techniques that could improve their odds. Moneyball Marketers, on the other hand, represent a new breed of analytically driven, outcome-oriented practitioners who use new metrics and