This is something I recently found on Colloquy.com article.
Apparently, it's a clip from a futuristic-doomsday movie warning ourselves against fascism and 'big brother' future that seems to be approaching us very soon. That, of course, is the less-than-positive side of looking at the future. But, if we take a moment to assess the kinds of CRM capabilities we have today, it should not be impossible to do the things we see in the clip.
It does get hairy when good CRM is misused to the point when people think that respect for their privacy has been ignored. Information versus privacy -- the perennial battle in any CRM and loyalty marketing database.
Sunday 2 May 2010
Monday 26 April 2010
Banks are too slow & traditional for Web 2.0?
Today, I chanced upon this blog post by Brett King, who just in Singapore recently for a book-signing titled, "Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services"
This unplanned encounter was timed in a curious fashion. I had just been having conversations with veterans in the industry about how the banking world (especially in consumer finance) has underutilised the power of connectivity and community advocacy. So, this begs the question: Are banks really such seasoned creatures of habit that they are blinded by the speed with which the rest of the consumer world runs?
As a member of the industry, it is not difficult to appreciate the difficulties for banks to jump on the bandwagon with similar speeds as the world of the FMCG, travel, or even hospitality. The fact remains that as a financial institution (despite all the fuss about it as an investment vehicle) the bank is, ultimately, the custodian of assets of the people, a.k.a., common folk like you and I. For all that is said and done, a bank simply cannot proceed with any new initiatives without having to satisfy the arduous and sometimes painstaking process of due diligence.
However, as both a consumer and bank employee, I believe that some manner of agility can be achieved. Life simply cannot be as rigid as it used to be when we needed to bring a pass book and stand behind a tall counter before we can get to our own money.
Brett King: Are Banks Innovating Fast enough?
This unplanned encounter was timed in a curious fashion. I had just been having conversations with veterans in the industry about how the banking world (especially in consumer finance) has underutilised the power of connectivity and community advocacy. So, this begs the question: Are banks really such seasoned creatures of habit that they are blinded by the speed with which the rest of the consumer world runs?
As a member of the industry, it is not difficult to appreciate the difficulties for banks to jump on the bandwagon with similar speeds as the world of the FMCG, travel, or even hospitality. The fact remains that as a financial institution (despite all the fuss about it as an investment vehicle) the bank is, ultimately, the custodian of assets of the people, a.k.a., common folk like you and I. For all that is said and done, a bank simply cannot proceed with any new initiatives without having to satisfy the arduous and sometimes painstaking process of due diligence.
However, as both a consumer and bank employee, I believe that some manner of agility can be achieved. Life simply cannot be as rigid as it used to be when we needed to bring a pass book and stand behind a tall counter before we can get to our own money.
Brett King: Are Banks Innovating Fast enough?
Wednesday 10 March 2010
Loyalty Currency - What do you prefer?
The question of suitability in loyalty currency is the single most intriguing question that has never quite gotten a scientific and clinical treatment. In particular, I do not believe that any formal study has been conducted with regards to loyalty currency preference in payment cards.
I am of the opinion that, despite cultural and social disparities in different markets, there must be some partiality towards one type of loyalty currency to another.
Points? Miles? Or something else?
If you could take a minute to answer this poll, I would be eternally grateful.
http://polls.linkedin.com/p/80433/avpnn
I am of the opinion that, despite cultural and social disparities in different markets, there must be some partiality towards one type of loyalty currency to another.
Points? Miles? Or something else?
If you could take a minute to answer this poll, I would be eternally grateful.
http://polls.linkedin.com/p/80433/avpnn
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