As we say in the south, either fish or cut bait. When it comes to mobile banking, banks had better get on board or start looking for a closed sign. In the last couple of months, I spoke at the Nebraska Bankers Association Marketing Conference and at the Wolters Kluwer Financial Services Users Summit. I was shocked at the number of banks that said, “We’ll never offer … [Read more...]
7 things Chick-fil-A taught us about marketing
If I were the marketing director for Chick-fil-A, I would be buying full-page ads in the Chicago, Boston and San Francisco papers, thanking their local politicians for increasing sales over 100% in one day. With just a few words from Boston Mayor Thomas Menino, Chicago Mayor Rahm Emanuel, and San Francisco Mayor Edwin Lee, Chick-fil-A had millions of passionate customers all … [Read more...]
Big banks continue to get creative around fees
Everyone’s still talking about it: bank fees. Just this week, Pittsburgh-based PNC Bank settled a $90 million class-action lawsuit over excessive overdraft fees, joining a growing list of big banks that have already recently done the same thing including JP Morgan Chase, Bank of America and TD Bank. The basic tenant of the lawsuits is that these banks improperly … [Read more...]
Sticks and bricks or in the clouds?
Everywhere you look, the internet is changing the way businesses do business. The record stores have long since closed their doors; most movie rental stores, like Blockbuster, have gone or are going out of business; and now book stores like Borders are taking a major hit. At first glance, it might seem that people are no longer listening to music, renting movies, or … [Read more...]
Don’t worry about training your staff and having them leave – worry about not training them and having them stay
I’ve written before about the need for financial institutions to train their sales reps. The reason is this: most banks and credit unions have never had to worry about selling anything. They opened a branch and people just walked in and opened an account. But as we all know, those days are over. Today, even people who have bank accounts are starting to use PayPal or … [Read more...]