Download - 2012 Mobile Banking Trends
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Google Confidential and Proprietary 1
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Mobile banking trends
Google, U.S.
October 2012
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Google Confidential and Proprietary 2
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Getting mobile right is more importantthan ever
Source: Google Our Mobile Planet Study 2012, J.D. Power Associates Retail Bank New Account Study 2011, GoogleWhat Users Want From Mobile Study 2012
Acquisition Service Retention
40% 48% 1in6of consumers will turn
to a competitors siteif yours is not mobile-optimized
feel frustrated,
annoyed and believethe company doesntcare about my
business when a sitedoesnt work well on a
mobile phone
people switching banks
say a poor mobilebanking experienceprompted them toshop for a new bank
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Google Confidential and Proprietary 3
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Consider how consumers navigate your brand
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
46%consumers that start bankingactivity on one device continue
later on another
98%will move between devices
within the same day
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Google Confidential and Proprietary 4
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Consumers dont live (nor bank) in a vacuum
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
34%of consumers have started a bankingactivityon their desktop and picked
it up later on another device.
6%
28%
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Google Confidential and Proprietary 5
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Smartphones are the most commonstarting point
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
3%
56%59%of consumers have started a
banking activityon their phoneand picked it up later on
another device.
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Google Confidential and Proprietary 6
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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 activityon their tabletand picked it up later on
another device.
1%
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Google Confidential and Proprietary 77
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.
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Google Confidential and Proprietary 88
First impressions in mobile count
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012
66%of usersfind mobile
sites through search
61%will go to another site if
they cantfind what theyrelooking for immediately
(optimized or not)
79%of those that try again will
return to search, but are 5xmore likely to abandon
the task
36%feel like theyve wasted their
time if they cant navigateeasily around your site
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Google Confidential and Proprietary 99
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 service0%
100%
200%
300%
400%
500%
600%
Jan'11 Apr'11 Jul'11 Oct'11 Jan'12 Apr'12 Jul'12
Query growth
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What do mobile users want from their bank?2They want to manage their money
Source: Google What Users Want From Mobile Study 2012
77%
Check accountbalances
61%
Log intotheir account
51%
Pay bills
51%
Transfermoney
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Google Confidential and Proprietary 1111
41%53%
Downloadmobile app
48%
looking for socialnetwork page(s)
play a video aboutthe 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
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Google Confidential and Proprietary 1212
9% 9% 9% 7%
29%
18%13%
10%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Bank ofAmerica
Chase Citi Wells Fargo
Used a mobile phone as partof 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 amobile phone applied
in a branch
28%that researched on amobile phone applied
on a desktop
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Google Confidential and Proprietary 1313
What are mobile users looking for whenshopping 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