follow the money
Posted by Dale Buss on November 4, 2014 05:03 PM
Citibank has been creatively trimming its sails for years, and now the banking brand is going to do some more nipping and tucking to burnish its consumer branches and to become more efficient—as well as attractive—in that part of the business.
The bank announced at the Money20/20 conference in Las Vegas this week that it plans to make its locations smaller and its technology flashier in seven major US cities, the Wall Street Journal reports.
The plans were unveiled by Jane Fraser, Citi's head of consumer banking, who was recently named one of the “Most Powerful Women in Banking” by American Banker magazine. The move is necessary, she said, because consumers think of bank branches as “fuddy duddy.”Continue reading...
Posted by Sheila Shayon on October 28, 2014 01:02 PM
Yahoo CEO Marissa Mayer is continuing her media-focused expansion that includes digital channels (or vertical magazines) celebrating food, movies, tech, beauty, style, travel, DIY and parenting.
Now Yahoo has joined forces with Citi Private Pass and Live Nation Entertainment for Backstage with Citi, an original web series that offers behind-the-scenes interviews tied to Live Nation's streaming concerts every day for a year to enrich the Yahoo Music channel. The move builds on ten years of the Citi Private Pass program by adding a real-time, always-on component on citiprivatepass.com that will launch content 48 hours before it posts on Yahoo. Yahoo News Global Anchor Katie Couric will interview select artists.
The co-branded partnership expands on a commitment to music that saw Citi offer cardmembers tickets to more than 5,000 music events last year. The series kicked off on Oct. 23 with Grammy Award-winning country trio Lady Antebellum, and the next episode of the web series (in early November) will feature O.A.R.Continue reading...
Posted by Sheila Shayon on October 20, 2014 11:17 AM
As CEO Tim Cook said last week, "We believe Apple Pay is going to be huge” and will "transform mobile payments.” And the big day is here.
Apple Pay debuted Monday to more than 10 million iPhone 6 and 6 Plus owners. Apple has lined up over 220,000 retailers including Staples, RadioShack, McDonald's, Macy's, Chevron gas stations, Walgreens and Panera Bread that will accept payment, and Visa, MasterCard and American Express plus more than 500 banks including Bank of America and Citi are on board.
While Google's Wallet met with resistance and was blocked by wireless carriers, Apple took some of the best features of Google’s model and simplified it by seamlessly integrating hardware and software.Continue reading...
follow the money
Posted by Mark J. Miller on October 15, 2014 11:22 AM
Citigroup Inc. is the US bank with the most international business, but that claim to fame isn’t enough to keep the company from announcing that it is exiting its consumer banking business in 11 countries, including Japan, Egypt, and Peru, which leaves Citi in 24 countries.
Citi, just named #48 on Interbrand's Best Global Brands report, has been studying its ledgers since 2012 to discover where it was weakest globally. The glacial pace of the proceedings is partially due to the bank not having “standardized accounting systems across all countries to compare the units' profitability,” sources told Reuters.
Announced with its latest quarterly earning report, it's all part of a bigger long-term plan by Citi to get smaller, better allocate "our finite resources" and increase profits. The effort kicked off after the financial crisis hit and has since meant the jettisoning of “hundreds of billions of dollars of bad assets,” Reuters notes.Continue reading...
Posted by Shirley Brady on May 29, 2014 08:29 AM
TOP 5 STORIES
Apple execs explain Beats acquisition as HP remains a Beats partner through end of the year.
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BMW sees China as biggest electric car market, as Mercedes-Benz gives Chinese officials unprecedented access.
Pepsi Max unveils Idris Elba-directed short film (above) as part of #FutbolNow campaign.
Fender names U2's Bono and the Edge to its board.
MORE BRAND STORIES
Amazon tells customers to shop elsewhere in Hachette spat.
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BlackBerry CEO defends strategy.
Bridgestone set to become Olympics sponsor.
Cadbury grapples with brand jihad in wake of pork discovery.Continue reading...
Posted by Mark J. Miller on January 29, 2014 02:56 PM
Emotions are running high ahead of the 2014 Winter Olympics that are set to debut in less than 10 days. General excitement, but deep reservations about the global event being held in Sochi, Russia have dominated discussions leading up to the start of competition on Feb. 7, with concerns over security and athlete and spectator safety top of mind following Russia's condemnation of the LGBT community and threats of terrorism.
That may be part of the reason why marketers tied to the Games seem to be focused on the personal stories of Olympians and not the Games themselves. Everyone from Blue Diamond almonds to Citi Bank and P&G are telling tales of personal hardship and triumph in the face of adversity—a sobering topic in the sports world and beyond that has seen direct attacks in the past year.
Aiming to inspire and motivate while the swirl of protests build around them, brands are highlighting little-known and star Olympians, their families and their support systems in various ways across multiple media channels.Continue reading...
Posted by Dale Buss on January 16, 2014 09:22 AM
Apple settles FTC complaint over app charges on kids with deal to refund $32.5 million, while China Mobile eyes iPhone sales bonanza, with more than 1 million pre-orders ahead of Friday's launch.
Microsoft may pay $2.6 billion to Samsung and others to make Windows phones as rumors cite Ericsson CEO to replace Steve Ballmer.
JCPenney plans to close 33 stores and slash 2,000 jobs.
AOL unloads most of Patch to private equity firm.
AT&T ends long-running American Idol sponsorship.
Axe features Kim Jong-Un lookalike in Super Bowl spot.
Best Buy reports holiday sales decline.
Charter is talking with Comcast about new bid for Time Warner Cable, report says.
Citi replaces debit cards after Target data breach.
Facebook revamps ads to compete with Google.Continue reading...
The Big Game
Posted by Mark J. Miller on November 6, 2013 12:52 PM
Super Bowl marketing is usually larger than life, and there will be no exception for this year's big game taking place at MetLife Stadium in New Jersey. And while brands have some big plans for their ad lineup, no one's will be quite as big as A-B InBev's.
The world's largest brewer is teaming up with Norwegian Cruise Lines to play host to some 4,000 guests aboard the brand new Norwegian Getaway—which will be turned into a Bud Light-themed hotel from the Thursday before the game through Monday while it docks in New York, USA Today reports.
The passengers will experience a five-day party complete with Bud Light-branded everything, from pillows and hand towels to shampoo bottles, as their accomodations stretch across the cruise ship and onto the adjacent Intrepid Air and Space Museum. The ship, museum and pier will host concerts, business meetings and other events over the course of the 5-day dock.Continue reading...