By now, we should all be familiar with branded content on social media platforms like Facebook and Instagram. Ticket giveaways, opportunities to meet well-known radio personalities, gift cards to favorite local restaurants and many more are now offered by radio stations through both live broadcasts and affiliated social media accounts, which are “presented by” a sponsor.
Of course, these giveaways are great for listeners, as they can seize an opportunity to see their favorite local or even national artist perform on stage or treat their family to a nice meal. But did you know how effective these partnerships are for the radio stations and advertisers themselves on social media?
A 2016 PwC publication stated that fintech (short for financial technology) would reshape banking. Based on a survey of banking executives, the article stated that, within five years of the article, 90% of banks expected growth of mobile applications. At that time, a little more than half of the respondents offered a mobile app for their clients, and 18% were currently developing one. Clearly, the pandemic has had a greater impact on services and offerings by banks and financial institutions.
Going to the store lately is always an adventure and not for the reasons you think. The adventure isn’t about what is available for purchase but more about how much the tab will be. Prices are rising. According to the Consumer Price Index, food prices have risen by 3.4% over the past year, and apparel is up 4.2%.
With the increase in prices, what impact is that having on finances?
There have been numerous articles, studies and surveys on shift in consumer shopping preferences and behavior. While percentages for each survey may have varied, there was one consistent finding – Americans have increased their use of online transactions. The implication of this behavioral shift is not just limited to retail but also to banking – 27% of consumers agree that banks will be more flexible over the next two years.
Next week we will celebrate Black History Month – an event that celebrates and recognizes the impact that Blacks/African Americans have had on our history. According to ASALH, the Association for the Study of African American Life and History, the theme for 2021 is The Black Family: Representation, Identity, and Diversity.
As states are in various phases of reopening, consumers find themselves in various stages of their own phases. These phases continue to shift and change the behaviors that had once been routine to so many. In order to meet the challenges, needs and concerns of their customers, businesses will need to be nimble to best address and meet their customers’ expectations.