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Article Image: CEO Letter To Web Analytics — Response To Eric Peterson’s Memo

CEO Letter To Web Analytics — Response To Eric Peterson’s Memo

In response to the CEO’s letter to Web analytics, Eric Peterson penned a memo from Web analytics back to the CEO. Take a moment to read his letter, then come back here for my reply back: ———————————————————————————————————- To: CMO, CIO, SVP-Ecommerce From: CEO Subject: Memo from The Web Analytics Team to “beloved CEO” Date: May […] Read More

Article Image: Subliminal Messages

Subliminal Messages

A recent article on MarketingProfs on the “wrongheaded claims against advertising” asserts that: Subliminal advertising, the alleged ability to motivate action with messages that are below are threshold of perception, doesn’t exist. Explicit, above-threshold messages in advertisements are what sell; hidden, muffled, or unperceivable messages do not.” Oh really? Well, it turns out that… Research […] Read More

Article Image: Advice For The New Volkswagen Chief Marketing Officer

Advice For The New Volkswagen Chief Marketing Officer

Adweek reported a while back that Volkswagen dismissed its Chief Marketing Officer. While I’m generally loathe to offer advice to CMOs in industries I don’t usually work with, in this case, the urge is too tempting: Give all the money earmarked for advertising to manufacturing. Why? Steve Johnson at Pragmatic Marketing wrote: “…and then there’s […] Read More

Article Image: How To Give A Great Presentation (In Nine Words)

How To Give A Great Presentation (In Nine Words)

When I first saw the link on Robbie Wright’s site, I didn’t click on it. But after I saw the link on Colin Henderson’s site, I knew that I had better click on it. When two bloggers you respect link to the same thing — pay attention. The link was to a presentation called Shift […] Read More

Article Image: A Letter To Web Analytics From The CEO

A Letter To Web Analytics From The CEO

To my colleagues in Web Analytics: I wanted to take this opportunity to thank you for the great work you’ve been doing in helping the firm improve our Web site, and for the enlightening data that you provide to me and the leadership team regarding our site’s visitors and the trends in utilization of the […] Read More

Article Image: Lazy Money

Lazy Money

Announcing his firm’s new high-yield checking account, Charles Schwab said: The financial world lives off lazy money. There is inertia, and in some respects that’s exactly why we decided we had to make this a very powerful offering.” Chuck’s right on. (If the firm is going to run ads that say “Talk to Chuck”, then […] Read More

Article Image: The Future Of The Chief Marketing Officer

The Future Of The Chief Marketing Officer

What’s the biggest problem CMOs have? In my opinion, it’s that they’re held accountable for too many things for which they have no control, let alone influence, over. The CMO Council might agree. As reported in AdWeek: CMOs are failing at a high rate because they lack the skill sets, credibility, and authority to fulfill […] Read More

Article Image: The Market Research Hall Of Shame

The Market Research Hall Of Shame

MSN Money recently published its Customer Service Hall of Shame, which found banks like Bank of America, Citibank, and Wells Fargo in the “Bottom 10”. As a way to generate publicity, this is an infallible approach. Survey some consumers, ask them to rate a bunch of big companies on customer service, and blare the results […] Read More

Article Image: Update On comScore conFusion

Update On comScore conFusion

Spoke to Serge Matta and Brian Jurutka from comScore today about my post regarding comScore’s online banking statistics. Although I linked to comScore’s press release, I didn’t cite another source upon which I drew some of the data — this Marketing Daily article. My apologies for that, and a lesson learned for me — because […] Read More

Article Image: The Devolution Of Social Networking?

The Devolution Of Social Networking?

Hundreds of years ago, the key to economic success was land ownership. Today’s it’s idea ownership (sometimes called intellectual capital). That’s why thought leadership is so important (side note: I’ve only received one request for membership to ITCH so far — not a good sign). It’s in this context that I found this comment from […] Read More

Article Image: When Should A Bank Outsource Outbound Sales?

When Should A Bank Outsource Outbound Sales?

The CMO of a financial institution told me about a meeting she had with a firm regarding outsourcing her firm’s outbound sales calls. Which got me thinking: When should a bank outsource its outbound sales efforts?” My answer: Never. Sure, I can envision arguments for outsourcing sales. And I know that many firms are highly […] Read More

Article Image: Announcing The Institute Of Thought Leaders And Consultainment Hotshots

Announcing The Institute Of Thought Leaders And Consultainment Hotshots

Did you know that (in the US at least) you have to be certified to practice professions like law and medicine? It’s true. And yet, apparently, anybody (and seemingly more and more bodies) can claim to be a management or marketing “thought leader.” But exactly what is thought leadership? And who qualifies to call himself […] Read More

Article Image: Dear Credit Union: If You're Going To Blog…

Dear Credit Union: If You're Going To Blog…

At the risk of overstepping the boundaries of my expertise (whatever that might be), I’d like to offer a few recommendations to the growing list of credit unions jumping on the blogging bandwagon. If you’re going to blog: 1) Sign the entries. An entry on Comala CU’s site starts off by saying “you’re not going […] Read More

Article Image: comMents On comScores' conFusing Scores

comMents On comScores' conFusing Scores

comScore released the results of its annual online banking study, which found a 10% increase in the online banking population in 2006 from the prior year. After reading the press release, I came away doubting some of the numbers. Specifically, I had trouble with: The sizing. According to the study, the US online banking population […] Read More

Article Image: Ponemon Institute's 2007 Banking Privacy Trust Study

Ponemon Institute's 2007 Banking Privacy Trust Study

Ponemon Institute‘s 2007 Privacy Trust Study for Retail Banking has lots of interesting data points, but a few that stood out for me involved: Importance of personal information privacy. 88% of consumers said that the privacy of their personal information is important or very important (4% didn’t comment). Personal information safety perceptions. The percentage of […] Read More

Article Image: Banks (And Credit Unions) Have To Earn The Right To Cross-Sell

Banks (And Credit Unions) Have To Earn The Right To Cross-Sell

If you’re a bank marketer, what can you do to improve your cross-selling success? The answer, although easier said than done, is still ignored by most firms: Engage your customers before cross-selling them. On the Verity Credit Union blog, Joe wrote (with some editing on my part): One of my job responsibilities is to make […] Read More

Article Image: ‘1st Trust Bank for Savings’ changing name to ‘Magna Bank’

‘1st Trust Bank for Savings’ changing name to ‘Magna Bank’

1st Trust is spending more than $1 million on all aspects of the name change, including creative and legal costs as well as new signage, stationery and marketing to introduce the name to the public. This announcement comes almost a month in advance of a vote by the bank’s 800 shareholders, presuming a favorable outcome. […] Read More

Article Image: A Credit Union That NEEDS A Name Change

A Credit Union That NEEDS A Name Change

Some credit unions have changed their names recently, prompting discussion about the merits of doing so. But when I saw the picture below, I couldn’t but help think: “Now here’s a credit union that should change it’s name.” If I need to tell you why….then you should brush up on your Internet slang. hat tip: […] Read More

Article Image: Marketing’s Civil War

Marketing’s Civil War

Jacques asks if we’re in the midst of a culture clash between branding and measurement. The answer is yes — and in financial services, it’s more than just a culture clash — it’s a civil war within marketing. And there’s no question in my mind that branding is winning. How else could you explain the […] Read More

Article Image: Anti-Twitter

Anti-Twitter

I’ve been pondering a profound question [for the past 30 seconds, anyway]: What do you call someone who Twitters?” I can think of one answer…but I’m not sure I want to tick off a whole lot of people by saying it publicly. I don’t really get why this has become so popular (but then again, […] Read More

Article Image: Off-Topic: The Internet Reduced To A 2×2 Matrix

Off-Topic: The Internet Reduced To A 2×2 Matrix

Not sure why anybody needs Google to find what they’re looking for on the Internet — I can point them to wherever they need to go. To understand why Craigslist.com is positioned where it is, check out this post from the folks at Compete! Cranky.com, as I wrote about a while back, is a search […] Read More

Article Image: Notes From The DMA Financial Services Conference

Notes From The DMA Financial Services Conference

At the DMA’s financial services conference in Florida last week, I got a chance to hear Martha Rogers, co-author of the One-to-One marketing books, kick off the second day of the conference. Some of my favorite quotes: “There is little pure acquisition out there.” According to Martha, what firms do under the banner of acquisition […] Read More

Article Image: Banks Will Get To Relationship-Based Pricing Through Loyalty Programs

Banks Will Get To Relationship-Based Pricing Through Loyalty Programs

Forrester Research recently published a report asserting that banks must implement price optimization techniques — dynamically pricing new products and services based on a customer’s profitability — in order to remain competitive. The report claims that successful implementation will require banks to: 1) reorganize to break down internal LOB and channel silos; 2) appoint a […] Read More

Article Image: How The Rest Of The Company Views Marketing

How The Rest Of The Company Views Marketing

Now I’m not saying that any of these functions don’t actually deliver ROI (then again, I’m not saying that everyone delivers the ROI they think do, either). But I think this helps explain why the advertising/branding people have a higher strategic profile in many firms (especially financial services firms). Read More

Article Image: Stop Investing In Customer Retention

Stop Investing In Customer Retention

Target Marketing reported recently that marketers plan to shift their 2007 media budgets from customer acquisition to customer retention, relative to what they did in 2006. If this is true for bank marketers, it’s a troubling statistic for two reasons. First of all, media spending isn’t going to impact banks’ retention rates one single iota. […] Read More

Article Image: Managing Customer Expectations

Managing Customer Expectations

I wrote a few weeks ago that the one question to ask customers is: “What are your expectations of us and how well are we meeting those expectations?” Well, here’s a little more fodder for that discussion. In the March issue of the Journal of Consumer Research, researchers found that: People take notice when they […] Read More

Article Image: The Economics Of Online Banking

The Economics Of Online Banking

Colin and Jim at Bankwatch and NetBanker recently commented on Forrester’s new online banking projections. Personally, I don’t care how many people bank online — I care what impact online banking has on a bank’s bottom line. So I thought I’d share with you the results of an analysis I did using Forrester’s consumer research […] Read More