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Article Image: Reply To Peppers And Rogers On The Subprime Mortgage Mess

Reply To Peppers And Rogers On The Subprime Mortgage Mess

In their weekly 1:1 Media email, Don Peppers and Martha Rogers addressed the subprime mortgage situation with a piece titled “Subprime Woes Shows Consequences Of Short-Termism.” In it, they wrote: The situation serves as a lesson for companies fixated on the short-term bottom line. It dramatically illustrates that neglecting a customer’s long-term situation can devastate […]

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Article Image: Off-Topic: What Kind Of Lunatic Does This?

Off-Topic: What Kind Of Lunatic Does This?

I sat in the bulkhead aisle seat on a flight from Pittsburgh to Boston not long ago. The guy in the row in front of me (in first class), and across the aisle, turns on his PC to watch a movie. The movie: Airport. That’s right. A movie about impending air travel doom. And he’s […]

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Article Image: Customer-Centricity And The Foreign Threat To Banks

Customer-Centricity And The Foreign Threat To Banks

BAI Strategies recently published an article in which it stated: US banks are laggards in adopting a “customer centric” marketing strategy. As a result, foreign banks in the forefront of this strategy are likely to enter the US and gain market share at the expense of domestic institutions.” My take: 1) I told you so, […]

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Article Image: Credit Unions’ Competitive Secret: Innovation?

Credit Unions’ Competitive Secret: Innovation?

A Boston Consulting Group exec was recently quoted in American Banker as saying that financial services firms could do even better if they raised the bar on innovation — a view shared by Matt at The Boulevard to Retirement. What do consumers think? According to Forrester’s research, not a lot. Just 18% of the consumers […]

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Article Image: Do SWOT Right

Do SWOT Right

In an article titled “Don’t Do SWOT: A Note On Marketing Planning” on ManyWorlds.com, J. Scott Armstrong of the Wharton Business School wrote: The problem with SWOT (Strengths, Weaknesses, Opportunities, Threats) is that, because it mixes idea generation with evaluation, it is likely to reduce the range of strategies that are considered. In addition, people […]

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Article Image: The Evolution Of Financial Services Web Sites

The Evolution Of Financial Services Web Sites

Jim Bruene at NetBanker recently predicted that there would be 300 FIs blogging by the end of 2007, but that it was unlikely that the number would get much higher than the 100 or so currently blogging (including CU employee blogs, MySpace pages, and multiple blogs from a single firm like Wells Fargo). My take: […]

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Article Image: The Anti-Web 2.0 Movement

The Anti-Web 2.0 Movement

He might not take this as a compliment, but I think Andrew Keen will be recognized as the Bill O’ Reilly of the Anti-Web 2.0 movement. Love him or hate him, O’ Reilly accomplished something very important for the conservatives in this country: He defined the enemy. For a long time, many conservatives struggled to […]

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Article Image: A Call For A Moratorium

A Call For A Moratorium

I’m calling for a moratorium. I want market research firms to stop releasing research statistics on consumers’: Channel preferences, and Trust in friends and family’s recommendations over advertising. I could fill a couple of pages with links to these studies, but why should I? They all say the same thing: Consumers prefer the Web for […]

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Article Image: Generational Niches

Generational Niches

Market researchers just love to highlight the majorities in their research results (you know, “72% of people surveyed do this…”). Why aren’t they interested in the minority? Wouldn’t it be helpful to know why they don’t like the product? Why they don’t act like everybody else? And to know who these people are, and how […]

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Article Image: We Need A Strategy

We Need A Strategy

If I had a nickel for every time I heard someone say “we need a strategy” — whether it was a marketing, Web, database marketing, analytics, advertising, IT, or you-name-it strategy — I’d be rich. If I had to pay a nickel for every time the ensuing strategy-development effort failed to materialize or pay off, […]

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Article Image: New media lessons from old school brands

New media lessons from old school brands

You probably haven’t picked up an issue of Adweek in quite a while, because what’s happening on Madison Avenue with the Budweiser account doesn’t really affect the financial industry. But a recent issue showed how much Adweek has changed. Adweek used to be all about global agencies and massive TV ad campaigns. Now it’s almost […]

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Article Image: Canora CU members help change names to ‘Crossroads’

Canora CU members help change names to ‘Crossroads’

After inviting members to submit names, Canora Credit Union in Canada will become ‘Crossroads.’ According to an announcement from the credit union: “‘Crossroads’ has a meaning that is both physical and philosophical. It represents those moments when one comes to a point where a path must be chosen that will have both large and small […]

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Article Image: Why Do Marketers Test?

Why Do Marketers Test?

Jim Novo recently commented that few online marketers deploy testing the way it’s often done in the offline world. Jim speculates that the reasons for this include cultural issues and a lack of ideas about what meaningful tests to conduct. For me, this raised a more fundamental question: Why do marketers test in the first […]

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Article Image: What’s Wrong With This Picture?

What’s Wrong With This Picture?

Forrester Research asked ~100 marketers which skills were most important to the success of a marketing executive, and how critical those skills are relative to five years ago. So what’s wrong with this picture? The marketers got it completely wrong. The order should have been reversed. Marketers earn the right to be “strategic” by the […]

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Article Image: The Question Isn’t Should Banks Blog, But How And When

The Question Isn’t Should Banks Blog, But How And When

A quote in The Bank Channel quotes says: “Banks should move fast to open their blog sites if they are not to miss out on a powerful new brand building and customer interaction capability.” My take: Whoa, not so fast. You don’t have to convince me of the potential for banks to use blogs to […]

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Article Image: Announcing A New NPS Metric

Announcing A New NPS Metric

Sufferers from Net Promoter Syndrome share a common symptom with those afflicted with another marketing malady called Simplificosis, the tendency to believe that just because a marketing or management metric is simpler to understand or measure than other metrics, then it must be better. I understand that companies often make things more difficult than they […]

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Article Image: An Inconsequential Typo

An Inconsequential Typo

Got the following email from MediaPost this morning: Anything catch your eye? I’ll tell you what caught mine: Insurers spending $980 BILLION on online advertising. And if TV ad spend garners two-thirds of the total ad spend, then this $980 billion represents, at best, only one-third of their total ad spend! So let me get […]

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Article Image: Indelible Moments

Indelible Moments

It’s August 9, 2007. Do you remember where you were 12 years ago today? Better yet, do you remember specific events, or specific conversations you had that day? Probably not. But I do. At the time, I used to take my bicycle to work and ride during lunch. I had just come back from a […]

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Article Image: What If It Had Happened At A Bank?

What If It Had Happened At A Bank?

Trey writes about Paula, who had a problem with her credit union, and received a pie for her troubles. I got to thinking, what if this had happened at a large bank? What would have been the response? The following is a [fictional, duh] conversation between the VP of Customer Service (CS) and somebody in […]

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Article Image: Common Marketing Afflictions

Common Marketing Afflictions

I’ve detected what appears to be some common afflictions that marketers suffer from. I haven’t found the cures yet, I’m still diagnosing the problems. Here’s what I’ve found so far: Delusions of brandeur. A condition where marketers think that a branding effort will be the antidote to falling or stagnant sales. Showing sufferers pictures of […]

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Article Image: The ROI On Brand Versus The Value Of Brand

The ROI On Brand Versus The Value Of Brand

I had an email exchange recently with a friend who raised some excellent questions and views on the topic of branding that I thought I’d share here (with permission, but anonymously): Our clients often ask how to measure the ROI of branding efforts. Maybe the question needs to be redefined. Instead of “what is the […]

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Article Image: Is Your CRM Strategy Helping Or Hurting?

Is Your CRM Strategy Helping Or Hurting?

Matt White, writing on Finextra, shares Turkish bank Garenti’s CRM strategy: If you go into their branches you have to swipe your bank card receive a ticket, and wait to be called. But not all tickets are equal. High income ‘superstars’ get seen within five minutes, the pretty well off have to wait a bit […]

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Article Image: Why Web 2.0? Why not NGW?

Why Web 2.0? Why not NGW?

Computer programmers of the previous century, in an attempt to save time and disk space, used to leave off the first two digits of the year when creating date fields. This, of course, turned out to be a bad decision. Instead of being referred to as the Year 2000 problem, it become known as Y2K. […]

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Article Image: Check These Out

Check These Out

When I started this blog, I vowed that I would not be a: 1) Regurgiblogger (whose posts typically read “Seth had a great post today….” followed by Seth’s entire post), or 2) Linklobber (whose entries, 9 out of 10 times, are nothing but “here are today’s links….” ). So it’s with some reluctance that I […]

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Article Image: It’s A Good Thing I Wasn’t At BarCampBank

It’s A Good Thing I Wasn’t At BarCampBank

A good thing for those who did go, that is. I would have drank all the coffee and tried to dominate the conversation. But, considering the issues and topics that were discussed (according to William Azaroff’s guest blog on NetBanker), I would like to have been there. Here’s what I would have contributed to some […]

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Article Image: Why Banks Aren't Capitalizing On Web 2.0

Why Banks Aren't Capitalizing On Web 2.0

A recent article in Bank Systems & Technology looked at the question of whether or not banks were reaping Web 2.0’s potential. The subtitle of the article — “some institutions aren’t realizing all that Web 2.0 has to offer” — is generous beyond belief. The article takes the form of a panel discussion, with participants […]

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Article Image: Are Bank iPod Giveaways A Good Idea?

Are Bank iPod Giveaways A Good Idea?

NetBanker recently highlighted free iPod offers that two banks are making online to prospects. Beyond the question of the campaigns’ ROI, these efforts should raise two strategic questions for banks to address: 1) What impact (if any) could this have on existing customers? These offers recall the approach that telcos often take — offering great […]

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Article Image: Might As Well Face It You’re Addicted To Blogs

Might As Well Face It You’re Addicted To Blogs

The lights are on But you’re not home Your mind is not your own Your heart sweats, your body shakes Another post is what it takes You can’t sleep, you can’t eat There’s no doubt, you’re in deep A blog post is what you need. You like to think you’re immune to the stuff, But […]

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