An area credit union has been airing a very effective series of television commercials recently. Each commercial features a different person who does business with the credit union. One has been with the credit union her entire life. Another relies on the credit union to fund a business expansion. A third appreciates the flexibility offered by the credit union. Other individuals each speak of the reason why they do business with that credit union.
I saw the effectiveness of these commercials when a friend of mine who normally does business with a rival credit union came into an inheritance. She decided to open an account with the credit union airing the effective commercials, principally due to those commercials. She walked into the main location , stepped up to the teller, and said that she wanted to open a new account.
“I’m sorry,” the teller responded. “Our new account person has appointments for the rest of the day. Can you come back tomorrow or some other time this week?”
My friend was shocked. “Maybe I’ll go to your location in a nearby town.”
“I don’t want you to go to any trouble and drive to another city,” the teller replied. “How is tomorrow morning?”
“Since I live halfway between the two towns,” my friend returned, “driving there is the same inconvenience as coming back here.”
“I’m sorry,” the teller repeated. “I can’t do anything about today. Does some other time this week work?”
“I’ll think about it,” my friend said and walked out the door.
Now when the commercials from that credit union air, my friend scoffs. She has never experienced making an appointment to open an account at a financial institution. She has decided to return to the credit union with whom she normally does business to deposit the money. She did not have a problem with her normal credit union; she had thought that she would spread the money to another institution.
As a marketer, the entire situation shocks me. Television advertising is not cheap. Why would you pay for the production and airing of effective television commercials and not be ready to open accounts for those who respond? Let’s go a step further and take the commercials out of the equation. Why not have a system to open accounts immediately for anyone who walks in?
I fully understand keeping labor costs in line which may mean that only one person is available to open accounts on a consistent basis. However, a backup should be set up. A manager at some level would be a good choice. When I ran a retail store, I was always the backup checker when a line developed at the checkout. The same applied to my assistant managers. All managers had to know how to run the checkout. Whoever was on duty were backup checkers.
Similarly, this credit union would be smart to train managers to open accounts.
The goal of all marketing is revenue, not catchy commercials. If a business is not ready to take the customer’s money, then its marketing has failed, no matter how effective the commercials seem.
This week's marketing trivia challenge is How have you prepared to handle business generated by advertising? E-mail me your answer.
I saw the effectiveness of these commercials when a friend of mine who normally does business with a rival credit union came into an inheritance. She decided to open an account with the credit union airing the effective commercials, principally due to those commercials. She walked into the main location , stepped up to the teller, and said that she wanted to open a new account.
“I’m sorry,” the teller responded. “Our new account person has appointments for the rest of the day. Can you come back tomorrow or some other time this week?”
My friend was shocked. “Maybe I’ll go to your location in a nearby town.”
“I don’t want you to go to any trouble and drive to another city,” the teller replied. “How is tomorrow morning?”
“Since I live halfway between the two towns,” my friend returned, “driving there is the same inconvenience as coming back here.”
“I’m sorry,” the teller repeated. “I can’t do anything about today. Does some other time this week work?”
“I’ll think about it,” my friend said and walked out the door.
Now when the commercials from that credit union air, my friend scoffs. She has never experienced making an appointment to open an account at a financial institution. She has decided to return to the credit union with whom she normally does business to deposit the money. She did not have a problem with her normal credit union; she had thought that she would spread the money to another institution.
As a marketer, the entire situation shocks me. Television advertising is not cheap. Why would you pay for the production and airing of effective television commercials and not be ready to open accounts for those who respond? Let’s go a step further and take the commercials out of the equation. Why not have a system to open accounts immediately for anyone who walks in?
I fully understand keeping labor costs in line which may mean that only one person is available to open accounts on a consistent basis. However, a backup should be set up. A manager at some level would be a good choice. When I ran a retail store, I was always the backup checker when a line developed at the checkout. The same applied to my assistant managers. All managers had to know how to run the checkout. Whoever was on duty were backup checkers.
Similarly, this credit union would be smart to train managers to open accounts.
The goal of all marketing is revenue, not catchy commercials. If a business is not ready to take the customer’s money, then its marketing has failed, no matter how effective the commercials seem.
This week's marketing trivia challenge is How have you prepared to handle business generated by advertising? E-mail me your answer.
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