New Name and New Badges for Authorized Consultants

Your friendly neighborhood Google Analytics Authorized Consultant program is getting a new costume and superhero name, though their powers will remain the same. (Read: we are renaming the program and with that comes a shiny new logo - we think of our partners as superpowered).

Our partners are now called Google Analytics Certified Partners. Here's the new logo:

If you are looking for help with your Google Analytics account, look for companies that display this Google Analytics Certified Partners logo. Companies displaying this logo have met our rigorous requirements demonstrating a level of expertise, agreed to our terms and conditions, and have proven experience to work with you.

Yes, we’ve made them jump through hoops because it’s important that we vet the best to service you. We don’t take it lightly because optimizing your Google Analytics account is serious business. So, whether it’s a quick consultation, help with an implementation or tracking a campaign, or long term support or training - look for companies that display the new logo. The new logos include a "Click to Verify" element that takes you to a listing on our partner page for more information.

You can find the latest list of Google Analytics Certified Partners here. The new logo is part of our plan to produce consistent naming and badging for all Google product partner programs.

Posted by Eva Woo, Google Analytics Team

Target CPA Bidding: A new way to meet your ROI goals with Conversion Optimizer

Today we’re announcing a new enhancement to Conversion Optimizer: Target CPA Bidding. With Target CPA Bidding, you can set a bid that reflects the average amount you’d like to pay for a conversion rather than the maximum you’re willing to pay for it.

We launched Conversion Optimizer in 2007 as a tool to improve your campaign ROI. Conversion Optimizer analyzes your conversion tracking data and automatically adjusts your bids for each auction. Over the past few years, we’ve been pleased to hear from a number of you that you've seen significant ROI improvements after implementing Conversion Optimizer. In fact, analysis indicates that, on average, those of you who use the tool experience a 21% increase in conversions along with a 14% decrease in CPA.*

This latest update to Conversion Optimizer was made in response to your feedback. We’ve heard from many of you that you’re more accustomed to thinking in terms of a target or average CPA when it comes to managing your online advertising (as opposed to the Max CPA bids which the tool has historically required). We hope that having the additional Target CPA bidding option will make it even easier for you to boost your AdWords ROI. Of course, if you’re happy using Max CPA bids with your Conversion Optimizer campaigns, then there’s no need to make any changes to your campaigns.

(click for full size image)

To enable Target CPA bidding, visit the Settings tab in your account, select ‘Focus on Conversions,’ and click ‘Advanced Options.’ Note that Conversion Optimizer is only available for campaigns that have implemented conversion tracking and have received at least 15 conversions in the last 30 days.

Posted by Emily Williams, Inside AdWords crew

*This analysis compares the performance of Conversion Optimizer campaigns over the course of a year with a control set of campaigns and represents the average impact of Conversion Optimizer. The actual impact will vary from campaign to campaign.

Complexity in the Consumer Decision Making of Latinos

We have found that consumer decisions among Latinos are more likely to be influenced by the spouse, children, or other family members than among non-Hispanic Whites. In particular, Hispanics who prefer Spanish appear to be more likely to say that these “significant others” are important in influencing the products they buy. The table below illustrates the findings.

How Important are each of the following in influencing the products you buy?
Average Responses	Hispanics-Spanish	Hispanics-English	Asians	African Americans	Non-Hispanic Whites
Spouse	3.74	3.42	3.44	3.09	3.33
Children	3.79	2.79	2.38	2.91	2.22
Other family	3.37	3.06	3.17	3.11	2.64
Scale: Five points from "not at all important" to "extremely important"

These data were collected in 2008 as part of the ongoing Multicultural Marketing Study conducted by the Center for Hispanic Marketing Communication at Florida State University and DMS Insights. The national sample had approximately 500 respondents in each segment for a total of almost 2,500.  The study was done online. Tests of statistical significance were conducted but omitted from the table to make it more readable. 

Overall Hispanics who responded in Spanish to the survey were more likely than most other segments to report being influenced by family members in general. Hispanics who responded in English were also more likely than most other segments to report being similarly influenced. Non-Hispanic Whites were found to be less likely than Hispanics, and almost everyone else, in general to be influenced by their family members. Asians and African Americans were generally in between or not statistically different from Hispanics who answered in English, or not different from non-Hispanic Whites.

The data provides food for thought for marketers who have believed that by getting to know how females head of household feel and think about products represents the family. Males and children are very important in influencing purchase decisions for the home. For one thing many Hispanic males, particularly those born abroad usually arrive in the US by themselves and live with other males. They learn the consumer landscape of the US and become consumers and decision makers here. When they bring their mates or meet them in the US, they are already very familiar with making consumer decisions for the household.

Further, children are particularly influential on families that are relatively new immigrants. Kids learn fast what are the product the family should buy. They influence decision making in the home probably more than anyone else in immigrant families.

When thinking about who the target is for commercial messages remember that the decision maker is not just one person. Also, remember that these people talk among themselves and influence each other very strongly. 

This information can be distributed as long as the source is acknowledged.

Innovation as a Growth Engine

Apple officially confirmed today that it has sold 1 million iPads. According to the press release, the company sold its one millionth iPad on Friday, April 30, just 28 days after the device’s release. More than 12 million apps from the App Store and 1.5 million e-books have been downloaded from the new iBookstore.

“One million iPads in 28 days—that’s less than half of the 74 days it took to achieve this milestone with iPhone,” said Steve Jobs, Apple’s CEO. “Demand continues to exceed supply and we’re working hard to get this magical product into the hands of even more customers.”


While the new product has its drawbacks (no camera, no multi-tasking, no USB or Flash compatibility), it still is the latest in a string of Apple hits from an innovation and design perspective (iPod, iTunes store, iPhone and the App Store). In most cases, Apple has created or dominated a category that was underdeveloped or nonexistent.

Isn't there a way to build innovation into banking products from a customer experience perspective? Wouldn't it be nice for customers to purchase slightly imperfect financial services with the intention of 'upgrading' when newer versions hit the market? Unfortunately, most banks do not put an emphasis on innovation and definitely do not introduce products with the intention of constant and ongoing improvement. In fact, as of this date, E*Trade and Chase Bank are the only U.S. financial firms with an iPad app (Spain's Banco Sabadell also has an iPad app) even though there are many ways to make both online banking and personal financial management (PFM) a more enjoyable customer experience with an iPad. What truly new products are you aware of in the banking vertical?

All I know is that I will not be alone in line when/if Apple decides to market a new iPhone with Verizon as the phone carrier. In fact, I am already hoping I can get an upgraded iPad with Verizon support that will allow me to write this Blog on the road without carrying my oversized IBM laptop. Even in rough economic times, it's nice to treat yourself to something that is innovative, fun and useful.

Its May...

Can you believe it? Its May!

May marks the true Spring into Summer connection.  The spring weather is heating up (shout out to our friends in Arkansas, Mississippi and Tennessee to be safe!!) and the weather can be unpredictable.  You know that summer is coming and we just have to be patient and wait for it.

However, you SHOULD NOT be patient and wait for customers to heat up, be predictable, and come to you.  With the Move Your Money action is full force...even it is not visibly active in your market...it IS in your market!  People are reconsidering their relationships and you have to put yourself on the "radar screen" of your marketplace.

Three tactical actions for you to do THIS WEEK:

1. Segment your top customers into three categories (in person, phone, mail) of contact you should implement in May and reach out to each!
2. Provide a list to each banking office of 100 prospective new HHs
3. Review your progress toward your 12/31 organizational goals

Take inventory of your position and make the small changes needed to realign your progress with the goals, in anticipation of your June 30 mid-year review.

The key?  Plan, review, plan, review...and implement in each interim step.  Remember, the key is the alignment between the plan and implementation with the results!

Cheers!

Bruce

Customer Service Geniuses – How Do They Do It, and Can You?

When someone talks about customer service, do you roll your eyes? Or, do you happily recall an experience with a company that transcended all of your expectations? Did you have a delicious meal where waiters constantly refilled your beverage glasses without interrupting your conversation? Did you ever lease or buy a car as a result of a helpful salesman? Or, by contrast, did you ever stay at home for ten hours waiting for a TV repair person who never showed up? The truth is, many companies state in their collateral and on their websites that they provide “quality customer service,” but sadly, many fall short because they don’t understand how valuable this competitive advantage is and how it creates loyal customers for the long-term.

Here are some great books to help your company develop excellent customer service – so that you can add quality customer service to your list of competitive advantages.

The Cult of the Customer: Create an Amazing Customer Experience That Turns Satisfied Customers into Customer Evangelists
By Shep Hyken
c. 2009

The New Gold Standard: 5 Leadership Principles for Creating a Legendary Customer Experience, Courtesy of the Ritz-Carlton Hotel Company
By Joseph A. Michelli
c. 2008

Lexus: the Relentless Pursuit
By Chester Dawson
c. 2004

How Dell Does It – Using Speed and Innovation to Achieve Extraordinary Results
By Steven Holzner
c. 2005

The Perfect Thing: How the iPod Shuffles Commerce, Culture and Coolness
By Steven Levy
c. 2007

Blue Streak: Inside jetBlue, the Upstart that Rocked an Industry
By Barbara S. Peterson
c. 2006

The Southwest Airlines Way – Using the Power of Relationships to Achieve High Performance
By Jody Hoffer Gittell
c. 2005

The Starbucks Experience: 5 Principles for Turning Ordinary into Extraordinary
By Joseph A. Michelli
c. 2006

The Nordstrom Way to Customer Service Excellence: A Handbook for Implementing Great Service in Your Organization
By Robert Spector
c. 2005

The Wonderful World of Customer Service at Disney
By J. Jeff Kober
c. 2009

Ben & Jerry’s: The Inside Scoop: How Two Real Guys Built a Business with a Social Conscience and a Sense of Humor
By Fred Lager
c. 1995

And, for some amusing final thoughts:

What to Say to a Porcupine – 20 Humorous Tales That Get to the Heart of Great Customer Service
By Richard S. Gallagher
c. 2008

Is Cash Really King?

The competition is again heating up in the checking account cash wars. In addition to banks that have traditionally offered cash incentives to open checking accounts such as JPMorgan Chase, Capital One, Fifth Third and PNC Bank, banks that in the past have offered premiums for the opening of new accounts like KeyBank are now also joining the money for checking acquisition game.

While incentives with some institutions are still $50-$75, many of the more aggressive institutions are offering rewards of $150-$200 to new customers that open accounts and meet some qualifying stipulations such as signing up for direct deposit, online billpay or a minimum number of signature debits. A recent program by Capital One offering $300 for a new account was the highest premium seen in years.

In a review of recent checking campaigns using the search service Mintel Comperemedia, more and more firms are offering the higher incentives. The question remains whether these high incentives pay off.

According to a 2009 study by Novantas, as many as 50% of new checking accounts are usually inactive when analyzed by looking at debit and credit transactions on the new account. In addition, the BAI has fielded many studies that find that as many as 30-40% of new accounts are closed during the first year. Unfortunately, many banks that I visit do not measure the new account activity level or rate of attrition as thoroughly as they measure the number of accounts that come in the front door. If measured using a full year view of the acquisition costs of new accounts, it is possible that some banks are paying double or triple their cash incentive for new relationships which may make the programs unprofitable from both a short and long term perspective.

It may be a more prudent strategy to reallocate this investment to strengthen current customer relationships through cross-sell and up-sell programs instead of attracting short-term, opportunistic customers with such high incentives.