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Article Image: Online Banking Research (Or Reporting) That Makes You Go Huh?

Online Banking Research (Or Reporting) That Makes You Go Huh?

An article in Online Media Daily reports on a research study which found that people who bank online spent more than double the average online shopper’s expenditures during the previous six months. The article concludes that …an uptick in online banking rates might thus help revive e-commerce” (Note: It’s not clear if the authors of […] Read More

Article Image: The Boy Who Cried Wolf

The Boy Who Cried Wolf

According to a Pew Internet & American Life Project study, the volume of email spam is growing, although fewer people say it’s a “big problem” for them. The study found, however, that: Spam continues to degrade the integrity of email. 55% of email users have lost trust in email because of spam.” My take: The […] Read More

Article Image: Even More Thoughts On Customer Lifetime Value

Even More Thoughts On Customer Lifetime Value

Adelino started the discussion with a post on customer lifetime value modeling. Jim Novo continued it here. I’ll add a few thoughts. In measuring or modeling customer lifetime value, marketers need to: 1) Incorporate measures of risk. As Adelino states, CLV boils down to a single number. But there are a number of variables and […] Read More

Article Image: A New Google Category

A New Google Category

We’re going to need a new Google category soon. Google currently enables topic-specific searches within books, scholarly journals, government sites, and — most recently — public source code. In addition, image searches have been a personal favorite. But with the gaining popularity of sites like Swivel and Many Eyes, we’re going to need a new […] Read More

Article Image: Blogs And Banks

Blogs And Banks

Jupiter Research recently published a report called “Blogs and Banks: Prioritizing Blog-Based Marketing Initiatives to Gain Maximum Effect” ($). In addition to advising banks to advertise on third-party blogs, the report recommends that banks: Create a blog as part of a young consumer-focused marketing initiative. Explore the creation of community-focused blogs. Use blogs to promote […] Read More

Article Image: Off-Topic: Britney Spears' New Album

Off-Topic: Britney Spears' New Album

Britney Spears is asking her most die-hard fans to help her name her new album. While I hardly qualify for membership in that elite circle, I won’t let it stop me from weighing in. Here are my candidates: Appetite For Destruction Straight Outta Compton Off The Wall Blonde On Blonde Maggot Brain American Idiot Disintegration […] Read More

Article Image: This Amp Goes To Eleven

This Amp Goes To Eleven

In a DM News article called “Marketers can seal the deal with new high-tech envelopes”, the CEO of the Envelope Manufacturers Association said: Next-generation technologies will make the envelope even more versatile and powerful. These include electronic ink [which] can turn envelopes into tiny billboards. The face of mail is going to change dramatically as […] Read More

Article Image: Fallacious Thinking On Banking Channels

Fallacious Thinking On Banking Channels

Alan Gemes, a VP at Booz Allen Hamilton, was quoted in Finextra as saying: Banks are failing to capitalise on the enormous potential of key growth channels such as online and mobile sales forces, because the performance of these channels does not meet customer needs and expectations.” What’s wrong with that statement? No, “capitalise” is […] Read More

Article Image: A Tale Of Two Strategies

A Tale Of Two Strategies

The Gainesville Sun tells of a woman who’s fighting her credit union over fees she was charged for not using the CU’s telephone banking system, not having her transaction slip ready at the drive-through window, and for coming in more than four times a month. Meanwhile, another credit union rolls out its “Signature Membership” program […] Read More

Article Image: Bank Cross-Selling: Taking Money From One Pocket And Putting It Another?

Bank Cross-Selling: Taking Money From One Pocket And Putting It Another?

The Kehrer-ENSI Financial Institution Investment Program Benchmarking Study has measured disintermediation — the percentage of a bank’s investment sales funded by its own deposits — since 1991. The most recent study (2005) found that 34% of the funds used to purchase bank investments came from deposits of the same bank. That was up from 33% […] Read More

Article Image: Off-Topic: Rejected Titles For The Sopranos

Off-Topic: Rejected Titles For The Sopranos

While I’m on the subject of The Sopranos, the following is a list of titles HBO considered, but (obviously) rejected: The Tenoraltos Carm And Tony’s Excellent Adventure There’s Something About Tony Mister Congeniality I Love Tony Who’s The Boss? Tony Soprano’s Series Of Unfortunate Events Honey, I Snuffed The Kids Brokeballs Mountain The Nutty Godfather […] Read More

Article Image: Management Lessons From Tony Soprano

Management Lessons From Tony Soprano

The Sopranos run has ended. Easily one of the best television shows of the past 40 years (as long as I’ve been watching), it’s more than just great entertainment. The show also provided lessons for executives in today’s (more) legitimate business organizations: When it comes to people, do what’s right for the firm, not your […] Read More

Article Image: Moments Of Truth

Moments Of Truth

My sympathies go out to Elana at Forrester who had her wallet stolen recently. She recounts her experience on her blog. Her prescriptions to financial services firms are right on. Here’s what I’d add: Financial services firms must identify the moments of truth.” Customer loyalty to financial firms is driven by the stories customers tell […] Read More

Article Image: It's A Fine Line

It's A Fine Line

Computerworld reported that HarborOne Credit Union sent TJX an invoice for the $590k it says it incurred in actual costs and damage to its reputation as a result of the retailer’s data security issues that came to light a few months ago. I imagine that some within the CU community are saying “Yeah! Go get […] Read More

Article Image: A Little Knowledge Is Great Marketing

A Little Knowledge Is Great Marketing

American Banker reported yesterday that Bank of America will launch an online and in-branch advertising campaign called “A little knowledge is a powerful thing” to educate consumers about banking and credit card fees. The article calls the campaign “ironic” since more than half of BofA’s revenue comes from non-interest income. Bruce Hammond, president of BofA’s […] Read More

Article Image: The Guy Who Designed The 2012 Olympics Logo (Reprise)

The Guy Who Designed The 2012 Olympics Logo (Reprise)

I’m rethinking the previous post. How could be I so short-sighted not to see what a genius this guy is? He wasn’t drunk — he was brilliant! He could have tried to design something that would capture the feel and set the tone for the 2012 Olympics. But, nooooo, he designed something so butt-ugly that […] Read More

Article Image: What Financial Firms Can Learn From The Grateful Dead

What Financial Firms Can Learn From The Grateful Dead

A few years ago, I wrote something called “What Bankers Can Learn From The Grateful Dead.” This comment, from Ron Bensley Jr. on Modern Marketing, reminded me of that: Latteland Community Credit Union (pseudonym) recently imposed an 8% fee for using their formerly-free coin machines. From a marketing and member-relations standpoint, this was a poor […] Read More

Article Image: Wanna Know Why Consumers Don't Trust Banks?

Wanna Know Why Consumers Don't Trust Banks?

Then read this post from a fellow blogger. I don’t, for a second, believe that this is an isolated example. If the firm in question — and I don’t care who it is, and I’m not going to mention it by name — had been forthcoming with the details, one of two scenarios would likely […] Read More

Article Image: Life With Jessica

Life With Jessica

Colin recently wrote about the responsibility bloggers have to be understood. Few are as good as Jessica Hagy of Indexed site fame. Her ability to effectively communicate with graphics has been the inspiration for a number of my posts. As I was reading her site recently, a thought popped into my head: What if she […] Read More

Article Image: And I Thought I Had It Bad

And I Thought I Had It Bad

Earlier this week, I posted some comments about some experiences I had with a couple of firms I do business with. After reading this paper from a professor at the IESE Business School, I have to admit that I had no right to complain. My experiences pale in comparison to what this guy went through. […] Read More

Article Image: Financial Check-Ups

Financial Check-Ups

Matt, the Credit Union Warrior, asks a great question: We all have annual health screenings. Why don’t we put a similar level of importance on our financial health?” You might be tempted to think it’s because of cost. After all, if you’ve got health insurance, the out-of-pocket cost for your annual check-up is minimal, and […] Read More

Article Image: Homepage Politics

Homepage Politics

One of the silliest games that firms play is What should we put on the home page?” In many firms, you would think that home page real estate was more valuable than oceanfront property in Malibu. Product managers and LOB execs often believe that their products have a “right” to be on their company’s home […] Read More

Article Image: Quien Es Mas Stupido?

Quien Es Mas Stupido?

Remember when Saturday Night Live used to play Quien Es Mas Macho? I’m going to play Quien Es Mas Stupido? Here are today’s contestants: Contestant #1 is my Internet services provider. I agreed to upgrade to their fiber optic service and made an appointment to have a technician install the service. But when my wife […] Read More

Article Image: Off-Topic: Jeopardy Categories I Can Beat Ken Jennings At

Off-Topic: Jeopardy Categories I Can Beat Ken Jennings At

1) Things That Go Wrong With A Volvo S80 2) Canadian Online Banking Sites 3) Grateful Dead: The Wall Of Sound Era 1973-1974 4) Who’s Got A Loyalty Program? 5) 101 Things Home Depot Sells To Kill Lawn Grubs That Don’t Work 6) Gourmet Restaurants Of Ticonderoga, NY I’m counting on Ken not knowing about […] Read More

Article Image: Dude Writes Like A Lady

Dude Writes Like A Lady

If you blog, then click here and prepare to waste the next hour or two of your life. The Gender Genie will analyze your writing and tell you if you write a like a man or a woman. I put about 10 of my recent posts through the genie and it came back in nine […] Read More

Article Image: Milestones

Milestones

Back in June 1980, I was out in Boulder, CO to see a couple of Grateful Dead shows that were billed as the “15th anniversary concerts.” Bob Weir was interviewed on a local radio station and asked what significance the 15th anniversary held to him and the rest of the band. He said: It doesn’t […] Read More

Article Image: A Consumer Advocate’s View On Financial Services Cross-Selling

A Consumer Advocate’s View On Financial Services Cross-Selling

A recent New York Times article about financial supermarkets reports that: Consumers should think carefully before combining their financial accounts with one company, said Barbara Roper, the director of investor protection at the Consumer Federation of America, a consumer advocacy group based in Washington. She said the flip side to the convenience may be a […] Read More

Article Image: Fixing The Marketing-CEO Disconnect

Fixing The Marketing-CEO Disconnect

HBS Working Knowledge interviewed Harvard Business School professor Gail McGovern about fixing the disconnect between marketing and the CEO. Here are a few of the key points that stuck out for me and my responses. ______________________________________________________________ McGovern: “Over the past 10 years the mix of marketing skills needed by a company has radically changed, and […] Read More

Article Image: I Must Be A Gen Yer

I Must Be A Gen Yer

In the May 28, 2007 issue of Fortune magazine, there’s an article that purports to be a “field guide to Generation Y.” According to the article, the way to spot a Gen Yer is by his or her headphones, clothes (jeans, sneakers, jacket), laptop, designer coffee, BlackBerry, digital camera, and iPod. I read this article […] Read More