06/28/2008
TD Online Banking - A Critique
by Nala Henkel
I discovered a neat thing today when I checked out my sad little balance at the TD. For those of you who've forgotten, I opened accounts at Canada's 5 major banks to do mystery shopping for this blog.
Anywho, I logged in and found this:
[pic]
Here's my critique:
- Too much copy.
- Haven't we gotten beyond the ALL CAPS full name thing in (de-) personalizing our offers??
- Use it sparingly, not every time I log in.
- It's brilliant.
Now, I already know that you're thinking two things.
First, you're worried that my boss, Tim, will tear me a new one for spending 3/7 of my time (check out the tabs) on non-work-related internet surfing. Thanks for the concern, but he actually encourages us to use social media, as it will play a big role in the future of marketing.
The second thing you're thinking is, "How can she have 75% of her criticism be negative and yet say it's brilliant? Is she taking Will Ferrell's crazy pills?"
Here's why it's brilliant:
- I took the time to read it.
Do you know how hard it is to get people to read your marketing messages? Very hard. I will clarify, though - the IDEA is brilliant. The execution sucks.
Are you "helpfully interrupting" your members online?
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06/25/2008
ATM Mysteries
by Nala Henkel
I know many people have wondered why drive-thru ATMs have braille on them. My daughter asked me this a few years ago. She didn't know whether to believe me or not when I replied "For blind people, of course."
My latest curiousity about these machines is why they can't angle the screens. Have you ever had to select which account and the options on the screen doesn't line up with the buttons? So you have to scrunch down a little to make sure you're pushing the right one, because heaven forbid you choose an account you don't have OR you select "French" by mistake and test the patience of the people behind you when you ask them "What does 'choisir' mean?"
I'm not an amazon woman (5'7") but when my 4'0" daughter ALSO had to scrunch down, I knew I was onto another ATM anomoly.
Hmmm... Quelle étrange!
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05/28/2008
Macking on MAC
by Nala Henkel
I had a great time at the 2008 MAC conference in Newport Beach. I finally met the faces attached to my Twitter friends, Morriss Partee and Tony Mannor, two strong and passionate voices in the credit union social media movement today. I also made a new friend, Kelly Waddell of FAST Federal Credit Union of Hanford, California.
Kelly is the Marketing Manager at FAST FCU. I loved the conversations we had. Everyone always has their war stories, but we also shared some real challenges with each other. My challenge is making our cuckoo campaigns affordable yet profitable and her challenge is finding a way to for her credit union to live its brand in a way that is meaningful for members, but that also contributes to the bottom line. On the last day we were so deep in conversation that our table-mate asked if we had solved all the worlds problems yet! I told her we needed about another half hour.
Like the cluetrain manifesto states, marketing is conversations, and the MAC Conference was a great place to have those. As a new MAC member, I am looking forward to engaging and sharing with other marketers on MAC's website forum.
*Note: Despite some unsavoury definitions, I use the term "macking on" in a clean, wholesome way to say "enjoying ever-so-much." An example of my intent might be "I'm macking on this delicious Americano as I type this blog!"
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05/23/2008
Challenge your members
by Nala Henkel
In a recent Ipsos News Alert, it was reported that "fully eight in ten Canadians (86%) enjoy being exposed to people and ideas that challenge the way they look at the world."
When Larissa put out her great "difference" video on behalf of Young & Free Alberta, I sent it to several family and friends. I wanted to share the kind of work my company does. Here is the response from one of them:
"This is so informative!! I never really knew the difference before.
I am convinced that I should join our local Credit Union."
So many credit unions that Currency works with have growth opportunities with their existing membership, let alone new members. Banking is such a commodity these days, that providing great service is merely table stakes. What does your credit union do that is different? How can you challenge members to rethink their banking relationship and deepen their credit union relationship?
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05/20/2008
Does your credit union have orange pants?
by Nala Henkel
As you read this, I'm jetting my way to the 2008 MAC Conference in Newport Beach, California. Should be exciting! To tide you over, here is a whimsical post about the odd things people like.
Once my 15-year-old daughter Taylor and I were shopping and discovered some "sweet" orange pants. "Sweet" is her word; "garish" was mine.
"Can you get these for me?" Taylor asked, excited and breathless from the sheer "sweetness" of the orange colour.
They weren't that expensive, but I figured this was an impulse on her part and I hate wasting money on things that don't get worn.
"Well, maybe this weekend." I stall, "They'll probably still be here." Come on. They were horrifically orange pants! Who was going to buy them?
"No they won't. These are totally sweet orange pants!" she countered, disappointed but resigned.
Next weekend we return. No orange pants. This was last spring. She still hasn't forgotten.
This proves that no matter what life-sustaining goodness you do for your kids - whether it's waking them up for school, making their lunches, lending them your make-up, throwing your body in front of various vicious animals, or even charging into burning buildings to save their CD collection (I haven't done this, but I might!) - if you don't buy one pair of orange pants you are forever vilified. Or at least remembered badly.
The point: Kids forget the everyday good stuff and never forget the ONE TIME THINGS DIDN'T GO THEIR WAY. Members are the same way. Buy your members the orange pants!
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05/16/2008
Are you an agent of change?
by Nala Henkel
"Former vice president Al Gore will launch a three-year, $300 million campaign Wednesday aimed at mobilizing Americans to push for aggressive reductions in greenhouse gas emissions, a move that ranks as one of the most ambitious and costly public advocacy campaigns in U.S. history.
The Alliance for Climate Protection's "we" campaign will employ online organizing and television advertisements on shows ranging from "American Idol" to "The Daily Show with Jon Stewart." It highlights the extent to which Americans' growing awareness of global warming has yet to translate into national policy changes, Gore said in an hour-long phone interview last week. He said the campaign, which Gore is helping to fund, was undertaken in large part because of his fear that U.S. lawmakers are unwilling to curb the human-generated emissions linked to climate change."*
Agents of change are characterized by individuals or organizations that champion a specific cause. Al Gore's brand is "global climate change." You can't hear the name Al Gore anymore without thinking of global climate change.
Vancity is a corporate example of an agent of change. They have developed a website called www.changeeverything.ca to promote their belief in environmental advocacy. The site has a loyal group of followers who deeply believe people and organizations alike should be leaving a smaller footprint on the earth. But it doesn't end there. Vancity ties in its products to their cause, such as the Enviro VISA and Circadian Mutual Funds. The latter lets you invest in "companies that profit in a sustainable manner."
A credit union that is an agent of change is in it for the long haul, not just a 6-week campaign.
Could your credit union be an agent of change?
Tips
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Large scale or small, choose a cause your credit union can TRULY champion, from the top to bottom of your organization (members included)
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Set goals that allow you to measure success
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Develop a strategy, or to-do list, for achieving those goals
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Allocate funds that will allow your credit union to successfully implement the strategy
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Include your members in the cause in a real way, such as joining staff cause-related meetings, sitting on the committee, involvement in events, etc.
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Communicate your achievements, setback, discoveries, victories to staff, board, members and the community at large
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Act on feedback and suggestions from members and non-members. If for some reason you can't, publicly acknowledge that and supply a reason.
Nothing inspires an emotional connection like passion. Share your credit union's passion about your cause.
*From "Gore Launches Ambitious Advocacy Campaign on Climate", by Juliet Eilperin, Washington Post Staff Writer, March 31, 2008 page A04 – as read at www.washingtonpost.com
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05/01/2008
Is a mascot for everyone?
by Nala Henkel
You've got a great front line staff representing you day in and day out. You have one or more ATMs with your logo on or at least near it. You've got a professional looking website with great navigation. You've got all these things representing your brand to the best of their capability, but...
Have you got a life-size, fluffy animal suit?
Some financial institutions are adopting mascots as a fun and crowd-friendly way to personify their brands. Let's take a look at who's doing what.
Payday
I asked Mt. Lehman Credit Union general Manager Gene Blishen about their mascot, Payday. "The mascot has been successful. We looked at it because of the necessity of having a presence in parades and at events. It was too time consuming in both people and money to think of having a float in a parade. The mascot is your 'comic' brand and works extremely well with children. Our presence at the local level is much better with it than without it."
Redfrog
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For five-year-olds, this is as close to the Beatles as it gets! |
Not only did Envision create a mascot in costume form, they also developed two inflatable red frogs that more closely resembled the character in the Redfrog logo. The inflatable version comes with its own complications ("But mommy, why CAN'T I bounce on the big froggy?"), but it creates a great visual key that SOMETHING IS HAPPENING in a unique way that standard event tents can't match.
In deciding to mascot or not to mascot, cost can also be a factor.
Expect to spend between $5,000 and $10,000 per suit or inflatable, depending on the intricacies of the costume. In this instance, Currency Marketing worked directly with the company that manufactured the inflatable frog. They worked from a supplied digital artwork file and a few phone calls to clarify details. As you can see, the results were incredible and the process very simple.
The comfy chair
You may remember the comfy chair's first appearance back in the 70s as a tool of torture. TD Canada Trust has put quite a different spin on it of late, tying the leathery, green giant to the bank's tagline "Banking can be this comfortable." From what I was told by staff, the chair travels with handlers and a four-inch thick manual. There are rules for the chair. There is an etiquette of decorum for the chair. There are multiple chairs for various "chair conditions." The chair is a high-maintenance celebrity in its own right!
I thought it would be interesting to test the boundaries. At a recent branch opening I was the only one to ask to be photographed in the chair. This drew stares from others sipping their free coffee and nibbling their free cookies (and a look of horror from my daughter, who then had to take the picture.)
People were asked to move when I sat in the chair, to afford me a better picture. I bounced in the chair (allowed), patted the chair robustly (allowed), but could not stand on it (not disallowed, but I'm sure I would have been strong-armed away).
David Stanger, president of DSA Media says about mascots. "In advertising campaigns, mascots are often used to represent the brand, or help the brand stand out from the competition. If you think about the quick-service restaurant category and consider iconic characters like Ronald McDonald, the Burger King and the A&W Root Bear, the presence of those "mascots" in advertising messages is meant to instantly help a consumer identify who is speaking to them."
While I think the chair ties very well with the TD's brand of "comfort", I also find it ironic (or typical?) that a bank chose a piece of furniture while the two credit unions chose something that can move and interact with people.
So... is it for everyone?
Gene recommends having a firm plan of how you will use it before you start googling "fuzzy animals."
"Credit unions should know beforehand where it will be used and what strategy they will follow on usage. It is one of those things that sound great but you really need to make sure the mascot gets used." Gene also notes that the more often they use it, the more economical the expense becomes. Having a utilization plan is a great way to keep your mascot from being the "white elephant" in the closet!
David echoes Gene, restating the need to have a full understanding of what role the mascot will play. He also had a few caveats.
"The use of a mascot as a product [vs. brand] differentiator can be very effective, but here's the pitfall. If the advertiser is not careful, the mascot can overpower or overshadow the brand, to the point where the mascot becomes the brand. On a positive note, the advertiser ends up with a very memorable ad campaign, with a recognizable character, and a high top-of-mind awareness score. However, once you get beyond the mascot, the consumers can recall little about the specific message or offer that was attached to the mascot's message. The end result is disappointing in terms of sales and traffic."
Does your credit union have a mascot? Is it considering one? If so, share your story with us.
P.S. Gene, I would have no problem being Payday at one of your events!
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04/25/2008
Johanne gets a t-shirt!
By Nala Henkel
For her promptness, AND for asking the question on everyone's mind - "What would it take for you to join a credit union?"* - Johanne R. of Rexton, New Brunswick will shortly be sporting a coveted Cuckoo t-shirt.
Marketing is not only conversation, it's clothing!
*Question slightly altered to be applicable to all credit unions.
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04/22/2008
That first day flush
By Nala Henkel
My 15-year-old daughter Taylor is one-month into her new job. She's an umpire for the community softball league. To get this job, I had to tell the league's organizer that she was interested (it helped that she'd played for a few years too) and she had to pass a simple test after her full day of training.
The league supplied the training (by Softball BC professionals), uniform and gear, and rule book. When she got her gear home, she put it all on and walked around the house alternately calling strikes and checking her hair. When the schedule was posted online, she wrote every game down on the calendar - location and time. She always pushes me to get her to her games early, and during games (wonder!) she cleans home plate periodically without being asked.
Kidding aside, she respects softball in a way she didn't before. She works more and has more responsibility than she ever did as a player, but she likes it. It's a pretty cool first job for her, and I overhear her talking about it to her friends often.
This made me realize that you never have a more enthusiastic brand advocate than when a staff member first starts his or her job at your credit union. Could you imagine them trying on their name badge and checking it out in a mirror? Wouldn't it be great to maintain that first day flush of enthusiasm throughout their career? I suspect that if more people could keep in touch with the feeling, there would be less turnover and stronger brands.
What do you think?
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04/16/2008
Scotia-dictory
By Nala Henkel
Not too long ago I heard about the Scotiabank offering a euro account. Since it's my dream to return to Europe for a holiday, I thought this was a great idea.
I finally got around to checking it out on their website and here's what I found:
Nice info page with the relevant details. However I wanted to make sure I received a debit card and the page didn't really say. I don't like making assumptions, so I went to their handy "Ask Scotia" website search tool and asked the question. The closest match was this following:
Now banks are usually encumbered by big, maze-like websites. This is to a small credit union's advantage, because who likes getting lost in a maze? But some advice to any company that has a website–make sure your information is correct and up-to-date. Whatever question I ask when I'm in-branch should be able to be answered online.
What is your biggest website challenge?
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