Boa Marketing Essay

700 Words3 Pages
1. Problem Statement January of 2010, Jen McDonald, Douglas Brown, and David Carrel met to figure out the best digital and mobile marketing strategy and how this strategy could allow the mobile channel to create a dual role for Bank of America (BOA) by allowing them to provide banking services and at the same time create a new channel for advertising. The problem was to figure out the best mobile banking platform to implement 2. Available Alternatives 1. Using Mobile Messaging as a means for Mobile Banking This system involved mobile messaging through SMS text messages (short message system). This system allowed the customers to check their account balances or set up text message alerts about account activity, deposits, or transfers. 2. Mobile Internet as a means for Mobile Banking Mobile internet connected users to a bank’s website through the mobile phone browser. 3. Mobile Applications (Apps) as a means for mobile banking The system allows smart phone users to download a bank’s application to access their banking mobile content 4. Using Both Mobile Messaging and Mobile Applications for a means of Mobile Banking This method allows Bank of America to reach both smart phone and non smart phone users, and allows both of them to enjoy the features of mobile banking, while excluding the least amount of potential customers. 3. Alternative Evaluation Some of the main factors that influence this decision include how mobile banking would affect the overall growth of BOA, as well as how BOA could use mobile banking as another channel to differentiate themselves from and competitors and engage customers that couple potentially lead to both higher income and increased customer retention. The current evaluation method used on the next page is a modified SWOT analysis that also takes into account potential effort required to implement each

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