Marshmallow Test and Insurance Marketing

I spent the last week reading up “The Marshmallow Test by Walter Mischel”. And while the book is a fascinating summary of key findings (and some of its applications) from Walters more than three decades of research, I found some of it is relevant for how we look at Insurance Marketing and Sales. What is the Marshmallow Test Walter’s team designed a test for pre-schoolers where the kids were asked to pick their favourite treats from Oreos, marshmallows etc. One of the treats was placed in a tray in front of the kid on a table. The table had a

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Showing Contact Addresses in Google Maps

Quick Summary: Here’s a small product feature recommendation for Google Maps on Android. Currently when I am in Google Maps and typing in the search box, it throws results that match with Google Places directory on the web. If it also throws matches with local contacts in the phone (or Google account) that have an address field added, it will ease usage. Background: A quick background will help understand the use-case much better. I was travelling to Jaipur and wanted to go to my friend’s place in Bani Park. I had asked him for his address the day before and

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Thin Mobile App or a Fat one – Digital banking toolkit

Mobile is the new frontier and banks know this well. Amongst the various choices to make as part of the bank’s overall mobile initiative, is the decision around the structuring of mobile app(s). Thin App Vs a Fat App. These might sound strange terms especially in reference to mobile apps and no, we are not talking about the size of the app in MBs. A Thin Mobile App is a niche solution available for select instances or customers, which allows a small subset of activities to be handled. On the contrary, a Fat app is one where all the possible

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SMS is reborn as an acqui channel in the Smartphone age

In the early days of Deal4Loans, we used to get a lot of traffic and leads through SMS campaigns. Especially for products like Personal Loans (Simple pitch and high-urgency in a need based product) During those days, NDNC (National DO NOT CALL) list was not introduced and there were very few players who were sending bulk SMS for lead generation. Response rates were high. Market quickly figured out that this was a cost effective and easy channel to scale up. A tsunami of SMS campaigns started to happen and finally the National government had to intervene with its NDNC initiative.

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3 tips for New To Bank Acquisitions – Digital Banking Toolkit

Why Online Acquisitions Acquiring New To Bank (NTB) customers is a key agenda for most Digital Heads at Banks. Its only logical that online acquisition budgets are getting bigger, given the following: Consumers are spending more and more time online. Digital is the best channel to start a dialogue Digital channels are tracked exhaustively. You can measure the return on each dollar spent. Digital channels allow data to flow at higher speeds. This could translate into better context, targeted products, straight-through-processing, upfront checking of applications etc etc. Tablets have provided the ideal form-factor to do an assisted digital sourcing, as

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Uber and Free Market Economics

Uber has changed the way we travel within cities. On a recent trip to Jaipur, the first thing I did on reaching the city, was to top-up my PayTm wallet to get going on Uber. (yeah no card-on-file yet 🙂 ) And over the next 3 days I took more than 12 rides across the Pink city. Here are some of the interesting observations I had: Jaipur is really a small city – Only one ride was over Rs 100/-. All others barely crossed the Rs 75/- mark. Given the distances are not too much, the per ride fare is

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Embrace APIs – Digital Banking Toolkit

Digital is the latest buzzword in banking. Not only are the bank boardrooms echoing with digital keywords, its what seems to be driving the pitches at most IT and Management Consulting firms. And rightly so ! When the data tells us that 9% of the population already uses Mobile Banking, we know that Digital Banking Revolution is already upon us. In the last article, I mentioned, how the Digital Banking Journey will be different for each bank and why it might be a good idea for the banks to play to their strengths. Equally important is to acknowledge and understand,

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Digital India – its already here

Today’s the launch of the Digital India initiative and quite a coincidence that I had an experience which makes me believe that Digital India is already here. Here’s what happened. I was in Mumbai and called for an Uber. I started talking to the cabbie to understand the target market for a specific use case for mTuzo . We are pitching to banks that with mTuzo we can help move their debit card customer from an ATM only to ATM + POS relationship. So I asked him which bank account he gets his Uber payments in – it was a

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Mood as the context for marketing

Something very interesting happened while I was using the Linkedin App on my mobile. I liked an article and pop came the message from Linkedin checking if I would want to share my love of the Linkedin App itself. The timing of this “Rate us on PlayStore” screen intrigued me. Do folks over at Linkedin believe that if I have read a lengthy article and liked it, I am in a good mood? If you ask me, may be I am. Atleast for sometime. And since that mood is caused by the content that was delivered on the Linkedin App,

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Play to your strengths – Digital Banking Toolkit

Nadal is the king of clay. Given a choice of surface, I guess he would choose clay 9 out of 10. We all get it – one should play to one’s own strength. Its obvious in sports, but most of us fail to apply the same rule(s) in business. As most banks embrace digital, this is one rule we should not forget. Look at the bigger PSU banks in India – it’s fair to assume that they have a big list of areas to focus on when it comes to going digital: Channel migration of customers onto internet banking and

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