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Snarketing Archive

Face The Truth: Your Customer Data Sucks

Many community-based FIs think they know their customers better than the megabanks do. Nonsense. Your customer data sucks, and it's a strategic problem.

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The Lesson Banking Should Learn From the Trump Election

Consumers will overlook or rationalize transgressions in trustworthiness and integrity to get what they want done done.

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Chatbots vs. The Human Touch: Which Will Win?

In the chatbots versus personal touch battle, it's hard to bet against chatbots when the evaluation criteria convenient/most effective is .

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Make Branches Integral to Cross-Channel Sales… or Shut Them Down

As the pundits yell and scream about the need for, and benefit of, simplicity in banking, the place to start may very well be in the branch.

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Driving Culture Change for Innovation in Banks and Credit Unions

Financial institutions are rightfully focused on innovating and creating cultural change, but they're missing one important ingredient.

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3 Problems With The Wells Fargo Cross-Selling Scandal

There are plenty of things wrong with the Wells Fargo scam, but three things in particular are really screwed up about the whole mess.

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Escaping The Squeeze: 3 Forces Challenging Mid-Sized Banks And Credit Unions

Strategic planners are looking out and asking, "What could screw up our plans?" Here are three things threatening to squeeze community-based financial institutions.

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Banks and Credit Unions Are Leaving Money on the Table

For a typical $1.5 billion financial institution, closing the performance gap could yield a 50% increase in non-interest income.

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The Platformification of Banking

Banks that become a platform will create new revenue streams, diversification against downturns in core businesses, and a new type of consumer relationship.

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Is The Customer Experience All It’s Cracked Up to Be?

What, exactly, is "the customer experience"? My take: Just a nonsense business term that reflects our desire to simplify the complex.

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The Top 3 Banking Questions for Chatbots

Voice-activated chatbots that provide account balances or expense categorization are useless. Here are the REAL questions chatbots need to answer.

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What Financial Health Means to Me

A financial health metric could change the basis of competition in banking. At the least, it's an important tool for marketers.

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The Fast Follower Fallacy

Don't believe the nonsense you read about a "fast-follower" strategy. You couldn't do it if you wanted, and you don't need to.

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The Foolish Fantasies of Fintech/Bank Partnerships

Calls for banks to pair up with fintech companies are misguided, and what's happened so far doesn't remotely qualify as "partnerships."

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An Open Letter to Fintech VCs

We expect fintech VCs to drink the Kool-Aid about sweeping, disruptive industry change. But when they try to feed us the Kool-Aid, we need to just say no.

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How Big Is Simple?

Simple's CEO says if it were a traditional bank it would need 850 branches and 6,000 employees to support its customer base. But that can't be right.

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Marketers Stop Making Sense

Marketers should put their money in the channels they consider to be the most effective, right? But they don't. Which doesn't make much sense, does it?

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How Do Consumers Want to Receive Updates and Promotions?

More than half of consumers said they'd prefer to receive updates from companies they do business with through snail mail. Something fishy is going on here.

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It’s Time To Stop Treating Millennials as a Single Segment

From a banking perspective, the differences between sub-segments of Millennials are too big to ignore. Let's stop treating Millennials as a single segment.

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3 Reasons Why Strategic Planning Efforts Fall Short (According to Pink Floyd)

Many companies are frustrated with their strategic planning efforts. The reasons why can be found on the back cover of Pink Floyd's Dark Side of the Moon.

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