As part of my routine calling of past contacts, I called a bank that I had worked for in the past, and I told them about a predictive modeling software solution that gives community banks a structured way to create and enforce a sales culture within branches
They said, “we’re already doing that.”
But I think maybe not.
Just below, I alluded to “the old days” still being with us. Does anyone remember driving past a bank branch (or even seeing an ad from a bank) and seeing the words “Loan Sale” on a banner? I am embarassed for the folks who’d put those banners out. That’s one step above simply begging a customer for business.
There are various degrees of business intelligence involved with marketing. I’m going to relate several different marketing angles that I receive from three different book stores. See if you can tell the difference:
1. As someone who has purchased or rated [BOOK] by [AUTHOR], you might like to know that [THIS NEW BOOK] will be released on August 15, 2009. You can pre-order yours at a savings of $8.48 by following the link below.
2. YIPPEE! Bargain books abound at [Bookstore], or
3. John, loyalty has its perks–here’s a $10 coupon just for you!
Another leading “Rewards” program sends me “40% off an item of your choice” coupon. It’s embedded with a “30% off all Dummies(r) Guides” (which I’m NOT currently shopping for), and “Hit DVDs Sale — $4.99 Selected Titles” (which I’m also NOT currently shopping for.)
All three of those aproaches are the type you’ll see in a variety of different marketplaces. But who is the one that’s really going to appeal directly to me as the customer? Clearly, the Amazon.com appeal (#1 above) is the most sophisticated, because it’s actually a part of an individual relationship that they know they have with me, and it’s one that they nurture.
Which do you think is most effective?