Blow Up Your Marketing - Becoming Customer-Centric (Ep. 8)
Lisa R. posted 01/29/09 at 12:00 AM ago
in
Banktastic
Becoming Customer-Centric This week, Sherman and Jesse from Creative Brand Communications gets together to discuss how marketing and banking practices need to change in order for financial institutions to truly put the customer first. They give examples of “company-first” behavior that’s simply accepted in banking due to tradition, but needs to change. They also discuss how banks should analyze their own actions carefully and look to other industries for ideas and examples of customer-centric behavior. Check out the episode above, and be sure to comment below with your thoughts on becoming customer-centric!
Email Us! Feel free to email comments or suggestions about “Blow Up Your Marketing” to blowitup@creative-brand.com.
David G.
This video is 6 days old. Where are all the comments? Here are some of mine.
My first comment is a question. Sherman and Jesse, have you ever worked at a bank? For that matter, how many employees does Creative Brand Communications have and how many of them actually worked for a bank? Just wondering.
You mentioned Over Draft fees. Which behavior is customer centric.
A) A bank bouncing a check, charging $30, which allows the company you sent the check to charge you a similar fee and then have a late payment because your account was over drawn or
B) Charge a $30 Not Sufficient Funds fee and honor the check that over drew your account. Your payment is made. Maybe it is your car payment, rent or mortgage.
The bank I work for added two new business products. We followed normal marketing practices and listened to the voice of our customers who told us we had a gap in our product set. In fact every good idea from a customer, if it makes sense for other customers, get looked at.
Maybe my perspective is different, but many of the the products and services I analyze and participated in the creation of, mostly came from direct customer feedback. In fact, most of the companies I have worked for operate that way. Even in my bank merger days working with NationsBank (they bought Bank of America), US Bank, and others, we were always customer centric. We knew that from direct customer feedback.
I am not saying all banks are customer centric, but just because a customer does not like a fee does not mean the fee is wrong. Zappos makes money with great customer service and free shipping. They are both costs. In order for them to make money somebody has to pay for that and that is usually the person buying the product or service.
One more thing. Shhhh! Do not tell anybody, but switching banks is extremely easy.
@dmgerbino