Edelman – the details | Strange Attractor:


 Further to my earlier post on the Edelman thing, here are the details finally. If you’re into the whole PR thing, then you’ll likely have noticed recently that Edelman have got themselves into a bit of a pinch by helping create a fake blog for Wal-Mart. Called ‘Wal-Marting Across America’, it purported to be a blog by a couple who decided to go on a cheap holiday in an RV (that’s camper van to us Brits), staying in Wal-Mart car parks overnight. What the blog failed to mention was that the project was a publicity stunt and that Wal-Mart were … Continue reading Edelman – the details | Strange Attractor:

::HorsePigCow:: Fake Blogs and the State of our Economy


 Tara does a nice job of describing the root difference about understanding the new marketing.  I like the point about going past the client, right to the clients’ clients. It’s time to tip the scales, I think. I wrote a little post over at the CA Blog about our core philosophy and why we are more concerned with our clients’ clients than our clients. In a world that conspires against the ‘consumer’ (‘buy our stuff and shut up’ and ‘we care about you, really, okay we don’t, but we’ve paid a lot of money for this creative, so that you … Continue reading ::HorsePigCow:: Fake Blogs and the State of our Economy

MySpace goes anti Bank!


David at Saber points out an interesting development – this MySpace dedicated to Wells Fargo–Lootin’ & Pollutin’ Since 1852.  We have seen the http://bmosucks.com/, or the http://bankofamericasucks.com/  before.  In fact, every bank has a banksucks.com site somewhere, but moving into MySpace is a new event, and to be expected I suppose.  What is more relevant, is that the visibility within MySpace will at worst be visible in a different way.  The .com versions are practically invisible to most users unless you go looking for them, but social sites which are presumably intended to support community opinion making are a different … Continue reading MySpace goes anti Bank!

Banks risk alienating customers – 2


The Price of Everything, builds on the concept that we spoke of here, that online banking is satisfying customers to a point, but it is not addressing customers needs to develop a relationship and be known at their Bank. This mythical age of banking may have never truly existed, but we seem to be moving further away. As banking moves online and credit scoring replaces reputation, banks sacrifice the human touch. As community dissolves, banks lose. We are still highly trusted, but there are fewer places to apply that trust. Mike goes on to bring in the Social Networking/ Web … Continue reading Banks risk alienating customers – 2

Building the Bank of the future: you can’t get there from here


I have been thinking about the three posts.  The things discussed seem to follow two threads, a consistent multi channel experience, and a higher value consistent multi channel experience. Lets deal with the multi channel experience first.  I think its soon (maybe now) to be table stakes that Banks provide the ability to deal with the “old way” seamlessly.  The items there are not rocket science to understand, yet they are incredibly hard to accomplish for Banks. Customer need Organisational group Technology Stop payment on the lost cheque Branch or call centre DDA system Get a new ATM card Branch DDA system … Continue reading Building the Bank of the future: you can’t get there from here

Building the Bank of the future


I wanted to highlight a couple of great posts that I really appreciated. They are all about building the bank of the future, and what a great title! James at EDM paints a nice picture of the customer experience within several channels, including ATM, online, branch etc. Phil at Improving New Account Opening does a nice summary of the concepts that drive a consistent multi channel experience. I took a different tack, with my small attempt to encapsulate Web 2.0 concepts as design principles for the future bank. This is brilliant … I appreciate how those three posts complement each other.  The … Continue reading Building the Bank of the future

How to web 2.0 your bank


Thinking about the CMO problem at ANA, when about 5% knew about web 2.0.  This begs the question of what are the implications for Banks.  What specifically should a bank think about, if it wants to join the web 2.0 cool club? My belief is that there are simple staged elements that can be adopted that will engender internal confidence while producing satisfaction for customers. The definition of web 2.0 and why it matters There is only one definition, here, because O’Reilly invented it.  You can agree, disagree, debate, but that’s the definition. It matters, because, wordsmithing aside, it loosely defines … Continue reading How to web 2.0 your bank

The Marketing Consortium : Capturing Customer Feedback


Here is a highly useful test for every Bank.  In this post Don speaks of a Gartner presentation, that talks about the ineffectiveness of most CRM systems implementation in not collecting, analysing and forming conclusions on customer feedback.  He makes the additional point that the time to start is now, and that it will never get easier.  Thompson’s message was that what we should be doing, to get hold of this monster now, is inventorying all the possible sources of customer feedback at our firm. He said that a Fortune 500 company might have as many as 200 different sources of … Continue reading The Marketing Consortium : Capturing Customer Feedback

Banks’ brands fail against Landor breakaway brand assessment


Courtesy of Cymfony a report from Landor Associates in conjunction with Fortune Magazine, ranks the top brands in 2006. The study identifies the ten brands with the greatest percentage gains in brand health and business value The ten brands are: iPod – consumer electronics Viking – major appliances Converse – athletic shoes  Robitussin – cough & cold  Best Buy – electronics retailer  Kohl’s – department stores  French’s – condiments  Geico – insurance  Dove – personal care  eBay – online auction Source: Landor: News: FORTUNE Magazine Publishes Landor Associates’ Second Breakaway Brands Study (9/12/2006) Based on Landor’s assessment of the results, they … Continue reading Banks’ brands fail against Landor breakaway brand assessment

More than half of MySpace users are over 35 years old


Fascinating statistics from ComScore, that baffles the general assumption that social networks are for teenagers. Visitors to MySpace.com and Friendster.com generally skew older, with people age 25 and older comprising 68 and 71 percent of their user bases, respectively.  Meanwhile, Xanga.com has a younger user profile, with 20 percent of its users in the 12-17 age range, about twice as high as that age segment’s representation within the total Internet audience.  Not surprisingly, Facebook.com, which began as a social networking site for college students, also draws a younger audience.  More than one-third (34 percent) of visitors to Facebook.com are 18-24 … Continue reading More than half of MySpace users are over 35 years old