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Cubus Solutions Newsletter: June 2016

Big-time internet stock analyst Mary Meeker gave her highly sought-after annual Internet Trends Report last week. If you’d like to peruse the entire 200+-page presentation, click the button below. Here’s what we garnered from the report.

  • Internet usage will continue to rise. According to Meeker, both Internet and smartphone user growth is stable, but the growth is slowing. Up from 0.6% of the population, and almost 20 years later, it stands at 39% population penetration. Credit union takeaway: If your website isn’t up to today’s standards, fix it now.
  • Visual content is taking over. Video viewing accounts for 64% of consumer Internet traffic and 55% of mobile traffic. Unsurprisingly, today’s Internet trend-setters are 12-24 year-olds. Meeker said this age demographic is particularly hooked on “visual stuff.” Credit union takeaway: Make video part of your marketing strategy and use it in any campaign you have.
  • Messaging apps are hot. Of the top 10 most used apps globally, six of them are messaging apps like WhatsApp, Facebook Messenger, and WeChat. Messaging apps are also the most popular in terms of usage each day, with the average person accessing Facebook on mobile 20 times a day. Credit union takeaway: Ramp up your social media presence, and expand it beyond Facebook.
  • Mobile is taking over the world. When it comes to mobile tech, the U.S. isn’t the only country leading the charge. In fact, the U.S. is overtaken by six other countries in terms of mobilization. India is the most mobilized country in the whole world. Credit union takeaway: In terms of marketing, step away from the legacy media. In terms of services, you’ve got to have a mobile strategy and execute it fast.
Internet Trends Report

~John-Ashley Paul, President/CEO

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#MAC16: Maximizing the Experience

The Marketing Association of Credit Unions held their annual conference last week and here’s one of the takeaways from Michael Wood, a youth culture expert, who helps companies better understand the ever-changing youth market. Maximize the experience of not just the youth but with all your members by doing these things:

  1. Simplify your strategy and all your processes.
  2. Think include more than intrude.
  3. Make your present about your future.
  4. Empower and amplify your advocates.
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Blockchains for FIs

You’ve heard about Bitcoin and other blockchain technology, but of late there’s been a lot of interest in blockchains from the legacy banking industry, with many big players from UBS to Goldman Sachs researching the benefits of what’s being called permissioned blockchains.  While the default permissionless chain is comprised of a full network of computers who all get a full ledger of the transaction, permissioned blockchains will be setup to be used on a private network where only trusted parties maintain the ledger. According to a recent CUInsight article, these are expected to potentially save consumers and credit unions by cutting out inefficient banking intermediaries.

Read the Article

Break the rules. In an industry where many companies follow the same marketing playbook, it’s time to break the rules and create your own boom.

Read the Article

Continued CU loan growth. The NCUA released its first quarter report last Friday saying credit union loan growth increased significantly in the first quarter of 2016.

NCUA Report
 

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