The
promotion is called Love Your
Help Desk, and it's really cute. A hilarious video shows management making a big deal of appreciating the help desk for about 30 seconds then disappearing (too true!). There is a funny top-ten list for why you should give the help desk the day off. Number 4 is my favorite: "the best customer service is crowd-sourced. Customers only need each other." One thing they ARE right about is that a lot of the customer experience is on the support desk now. No question.
Even better than their promotion is their fun ambient sound generator.
One little bone to pick -- when I go to their site to check out their stuff, they assume I understand the category already. "Professional grade support service" is supposed to tell me all I need to know. Except there's one little problem. When your pricing plans are for 1 agent, 3 agents and 5 agents, it's a safe bet you're not talking to megasoft or megabank or any other megacorp. You're selling to an introductory market, and you're talking to them like they are IT staff.
I feel like I run into this all the time when I am exploring cool new tools. But hey, it's still a fun promotion, and I still love their ambient sound generator.
I recently installed the trial version of Snag-It, a nice little utility to help capture screen shots. Capturing screen shots seems to be a big part of my professional work for some reason, and the cropping and annotating is time consuming. Snag-It makes these things simple. It seemed expensive, but it's starting to become indispensable, and I have the feeling I'll be buying it when the trial runs out.
So that's how they found me. [I think. I do remember filling in a form telling them I work as a marketing researcher.] This week, the trial version of Morae showed up in the mail. Morae appears to be software designed to support usability studies by marketing researchers. This is by far the most relevant piece of direct mail I've received in weeks, maybe months. And I will surely look into the software, and likely run the trial. [Heck, I'm already blogging about it. They're already ahead.]
Imagine if the companies you deal with started this kind of intelligent direct marketing effort? Wouldn't it be nice? We'd all find things that are relevant. We'd look forward to our direct mail. Smart companies would sell more stuff. Everyone would be happy. What a wonderful world it would be...
Dear TechSmith - if you just happened to find me by mailing to a list of researchers, what a shame. Maybe you should launch the program I just described. It would be very cool, and I bet it would work.
You know what's really scary? I've been thinking about Camtasia. I don't really have a business need yet, I just want it. Turns out it's a TechSmith product.
There's a new study out that says investor behavior is almost determined by genetic factors. Twins who were raised apart were compared to twins raised together, in terms of their investing preferences.
This suggests to me that personality type preferences, and learning style preferences, which are both rooted in early childhood -- are at work in many forms of human behavior. And that this now includes investing behavior. This totally makes sense to me, however there are few organizations that utilize this kind of information to really help their customers. Sadly, "Know Your Client" is a form, not a philosophy.
The Finextra summary is here.
Barnea, Amir, Cronqvist, Henrik and Siegel, Stephan, Nature or Nurture: What Determines Investor Behavior? (September 15, 2009). Available at SSRN: http://ssrn.com/abstract=1467088
You can download the full study (free) here: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1467088
(A version of the above was also posted on my Finextra Blog)
Lots of people have been dabbling in Facebook as a financial interface, including linking to secure banking, apps related to peer-to-peer lending sites, and many more. Facebook is now testing virtual currency in partnership with GroupCard. Users would buy credits for 10 cents each from Facebook, paying with their credit card. They could then use credits to pay for things inside Facebook. The intention is to enable merchants to offer services for small amounts on a viable basis. Facebook would take a cut, generating a new revenue stream for the application.
Facebook may succeed here, where other microcurrencies have not. (Remember Beenz?) Someone is going to get the micropayments thing right eventually, I think. This is not so different from the credits you buy on stock art sites such as istockphoto (and probably other places too).
Loyalty points are practically a currency, since you can buy a wide variety of items with points now.
Source: Finextra, June 1, 2009 Facebook begins testing virtual payments system
A German precious metals trader, TG-Gold-Super-Markt is testing ATMs that will dispense gold.
Thomas Geissler, chief executive, told Reuters that the initiative is "more than a marketing gimmick.' The current plan is to place as many as 500 machines in locations like rail stations and airports.
I'll say one thing: it's easier to carry a gold wafer with your luggage than a bouquet. And the value lasts longer than a stuffed animal or a key-chain. It even works as an environmentally correct gifting strategy, since it's unlikely to wind up in landfill.
Sources: Finextra, May 29, 2009. German firm plans gold-dispensing ATMs.
Reuters, May 19, 2009. German firm plans gold ATMs to meet growing demand.
In today's Globe and Mail, [my daily addiction] I saw this coupon for $40,000 off advertising agency fees on a contract of $250,000 or more. Offered by The BrainStorm Group. [New clients only, of course. There's no escaping the switching bonus anymore.]
It certainly caught my attention. I really loved how easy it was to find the coupon page online through their sponsored link on Google. A good illustration of how they can coordinate the elements in a campaign. Very impressive web site too. And you've totally got to admire the chutzpah of this approach. Are they desperately seeking clients? Perhaps. But with brio.
Seeing the coupon above put me in mind of a clever direct mail campaign launched by a small business in my neighborhood.
A nice looking woman -- very well dressed -- was dropping letters off in the neighborhood.
The letters introduce a local law firm, Jennifer A. Bishop.
I think I saw Ms. Bishop herself dropping letters off in her neighborhood to potential clients.
You've gotta love this approach. She probably met a ton of people, and got a chance to say hi and shake hands, maybe proffer a business card. Extend a little free advice. Invite people to come in for a consult. Door knocking works well for politicians. It was a strategy heartily endorsed by Edward Jones. Why not lawyers?
And other than the time involved, you can't beat the price. [And what a radical strategy to show prices for basic services?]
Advertising Age reports that Starbucks has been working for decades on instant coffee, and are about to launch it into the market. The new product will be called Via, according to reports, and is being called "soluble coffee".
It might be the right economy for this product, but I have never thought the brand was about the taste. I've spoken to many who don't care that much for the taste of the coffee, but they like the store experience, and the convenience of connecting at locations everywhere for informal meetings.
Can you take a "third place" experience home with you
The Apple iPhone will soon be functional as a credit card processing device, according to this report on Finextra.
What this means is that your landscaper, the seller at the flea-market, and other small enterprises will be able to process your credit card using their iPhone as a mobile card authorization unit. There are monthly fees and such, but that's already standard in the credit card world.
This is a potentially huge greenfield market. I've been wondering why PayPal hasn't launched some capability like this, accessible using the browser function on smart phones.
A commenter on the Finextra story says that Treo has had this capability for some time. He recounted how a tour guide was easily able to upsell customers mid-tour because of the simple availability of card processing. It is well known that having-card users tend to spend more than cash users, and this has long been a selling point for merchant services.
iPhone world story jan 28, 2009
Credit Card Terminal information from the developer, InnerFence
Spam scams emerge on Facebook
I got my first spam scam e-mail generated by Facebook today. These have always come via spam e-mail in the past, but this one came as a Facebook message, thereby cutting through some of my e-mail filters. And because it carried a trust-mark (Facebook message addressed to me) I read it. Here's a sample:
I came across your profile on Prosper page. Just wish to share an investment online with you that you may be keen.
It's an investment with good returns at 10% per 30days. It's web-based and available worldwide.
With only USD1,000 investment, your TOTAL returns will be 220% with USD100 credited every 30days.
This scam arrived via the Prosper Facebook app. Prosper, you will recall, is one of the peer-to-peer lending operations.
My take: this kind of thing has the potential to remove a lot of the appeal of Facebook for legitimate financial firms of any description. It's not a question of real risk to the brand so much as an issue of lying-down-with-dogs and feeling dirty by being in the same vicinity. Another tragedy of the commons. Not a good thing for Facebook or anyone else for that matter.
See our previous articles on Prosper and peer-to-peer lending:
More than Scrabulous: Credit unions, P2P lending now on Facebook, July 15, 2008
Another entrant in the peer to peer lending show, Oct. 21, 2007
Update on Zopa and Prosper, online un-banks, Aug. 17, 2006
Financial Services Innovation Watch: The E-Bay Model Comes to Banking, March 30, 2005
Financial brands damaged by credit crisis
Speaking of lying down with dogs: that's pretty much the situation for financial brands right now, according to a number of firms that track brand equity. Read all about the ugly situation in Marketing Daily in After Bailout, Financial Brands Twist in the Wind, by Sarah Mahoney.
According to Robert Passikoff of consultancy BrandKeys, quoted in the article: "This has fundamentally shifted consumer perceptions of financial service companies." He goes on to suggest that it will take five to 10 years to restore confidence.
I think Mr. Passikoff is a little high on that number, as we seem to have shorter memories. However, the whole thing puts one in mind of the airline crash scenario played out on a Mad Men episode.
What is most important right now to keep in mind is that this mess is not over. Not nearly over. The ripple effects will continue to emerge for months if not years. The story will be in newspapers through to the end of the U.S. election, and beyond, it will be featured in magazine cover stories, and the book writing bonanza hasn't even started.
RBC introduces SMS payments
Finextra reported today that Royal Bank is launching SMS payments capability, which would let people send money via cellphone. I see this having a lot more appeal for the under 25 crowd than e-mail payments, since they generally don't see e-mail as all that reliable.
The marketing of politics
Politics seems to be all about marketing. So much so, that you can now become a politician without having to get elected, as T. Boone Pickens seems to be doing. In his most recent newsletter he's inviting everyone to watch the presidential debate, and then log in to his chat afterward to discuss how the candidates performed on the issue of energy self-sufficiency.
After the debate is over, I want us to have an online chat about what we heard and what we DIDN’T hear the two candidates say about the foreign policy aspects of sending 700 Billion US Dollars to foreign counties every year to pay for the oil we are buying from them.
If Pickens' approach here works, we can expect to see a lot more of it. Very clever marketing.
Facecard
Facecard is a new pre-paid debit card targeted to students -- it's prepaid and re-loadable, and usable anywhere MasterCard is accepted.
Although it uses the debit system, it isn't really a debit card so much as a variant on a pre-paid gift card.
Among the other features:
The major pitch on the site is that using a pre-paid card helps students avoid accumulating unnecessary debt and get control of their spending. Here's an excerpt from the member news section of the site:
On my birthday last year, I received probably 10 gift cards from friends and family. They were from 10 different stores ranging in amount from $5-$50. While gift cards are great and all, $20 at a nice clothing store won't buy you much.
This year is going to be different. Now when my aunts, grandmothers and friends ask me what I want for my birthday, I can say "I'd love some money on my facecard." And anyone, not just members, can put money on my card. All they have to do is come to facecard.com, click "Give Money," and they're on their way. Tada, a birthday made easy thanks to facecard!
The name appears to be a stroke of brilliance, at least as long as Facebook is around. The product is available to US citizens aged 13 and over.
There seems to be a lot happening in the financial services space these days, some of it good, and some of it clearly a wrong turn however well intentioned. [None of the latter shown below]
Underbanked Americans
The Centre for Financial Services Innovation, whose focus is the low end of the demographic spectrum, has just released new research results on the underbanked. Some 40 million households are unbanked (no active bank account) or underbanked (may have a bank account but is actively transacting with non-banks).
The demographics are interesting: more than half own a home, more than half are white/non-Hispanic, and almost half work full time. As you read the attitudinal and behavioral material, the surprises just continue. A six page download presents a good summary, including an overview of 8 attitudinal segments. There is also a free webcast scheduled for July 8.
Payments in your watch
Why have your paypass on your key-fob when you could have it in your watch? That's the reasoning behind the launch of the Altair's PayPass wristwatch that uses MasterCard's contactless payment technology. This is not the first such innovation, but we're bound to see more of this in the future, through the competing technologies related to telephones or cards. Reminds one of the cable versus telephone battle that still wages. (Read more about this in Finextra here).
Visa on Facebook target SMBs
Visa has launched a new social networking application through Facebook target SMBs. The incentive to join is $100 toward targeted Facebook advertising, an interesting idea. Features include expert Q&A that would be similar to LinkedIn. I applaud them for trying this, and building an application that could potentially provide support for things other than information. What I'm not sure yet is how you prevent these things from becoming a really giant version of the Yellow Pages. (Thanks again to Finextra for the heads up)
Mobile P2P payments
MasterCard has launched a P2P payments network accessible through your mobile phone, in the US. The story from Finextra references Tower Group research suggesting that the growth curve here is exponential. The target market here is the underbanked -- the 40 million households referenced above -- and the huge international remittance business.
The major impediment to widespread adoption of this kind of service will be that it threatens the existing infrastructure. But people are bound to like the idea of having the bank machine in their pocket.
Teens and technology
I did some research on teens use of technology that gives strong support to the notion of the handset as the main access device. Imagine mobile computing without having to drag a laptop around -- how cool would that be! I put the slides for a recent presentation on this project on slideshare.
WD-40 and the Red Straw
Marketing Daily reports that WD-40 has finally created an attached "red straw," which formerly was taped to the side of the can. The company has been making the product for 55 years, and losing the straw has been customers' most consistent complaint. The straw is used to direct the lubricant into hard-to-reach places. My question is this: why on earth did it take them so long???
Where the heck is Susan these days?
If you've noticed a notable absence of the usual biting insight on this blog, it's not because my brain has shriveled away. Not yet anyway. [Or perhaps I'm just the last to hear.] But I'm having the annual spring convergence of events, among which the following:
[1] Various volunteer commitments came home to roost [Learn from my mistakes. Assume that all such commitments will take 4 - 5 times the expected time, and generate 10 times the anticipated e-mail. Plus if you start having fun, you're cooked.]
[2] I've just bought a Vespa 150S, and I am as excited as a kid going to Disneyland. It's more distracting than Facebook, and I haven't even taken delivery yet
[3] All the clients who weren't in a rush in February are in a rush now [Of course I don't mean you, I know this is a genuine crisis. I mean those other clients.] The projects that had no clear timetable, they have one now. That delivery date that was flexible before? Now it's not.
[4] I have a personal life. Every now and again I get reminded of that. Sorry, but that's just the way it is. Sometimes the blog just has to wait.
[5] When the sun is shining, we all want to go play. If you live somewhere the sun always shines, you may not understand this. But here in the great white north, this is the time of year we all crawl out of our cave, grab our ball glove, and put a smile on. It's hard to focus on reports and proposals when the crocuses start to come up.
Things will get back to normal soon. But I bet you are having the same problems, and you're probably as behind on your blog reading as I am!
[Yes, it's red. Everyone asks. And I need to know where I can find cool-looking girl-type scooter boots. If you see some, call me immediately.]
Welcome to our Friday roundup of bits of interesting info...
Environmental design smelling better all the time
Why would Credit Suisse be attending a marketing research conference about fragrance? Perhaps because they were thinking about their five senses project. Customer experience guy David McQuillen is leading the charge with pilot branches that play customized music that varies throughout the day, as well as providing a blend of aromas that make people feel at ease. [And you thought your new carpeting was cool.]
Advances in chemistry are enabling more scent related products, including devices that will let you design your own scents, scent devices connected to computer games, and even scents in fabrics. (Businessweek April 18, 2008)
Emotions in advertising
I heard Terry O'Reilly speak a few weeks ago, and came across this in my notes. "Emotions should be felt, never stated." How very true this is. Consider a vodka ad that evokes the emotion of feeling special, versus one that says, this vodka can make you feel special. Makes total sense. But it's easy to lose that clarity when you're in the middle of message development.
He had other gems too. Consider these:
"People don't want to be targeted, they want to be understood"
"The only way to explode a paradigm is to be armed with a detonator called 'the insight'"
Service recovery at Air Canada
Avid reader Bruce W. told us about his recent experience with Air Canada on a five hour flight. When the entertainment system didn't work, apologies were made and vouchers were handed out. Vouchers were reported to be for "future travel" or Aeroplan points. When BW went to collect via the internet, there was a choice of "Goodwill Options", either points or a travel voucher. But how could he choose when no value was provided for each? A quick call to the customer service centre revealed that the points option is usually a better deal. But you couldn't tell from the form.
Still, it's a big improvement over the past. It's just such a big hill for them to climb.
Avoiding the mushy middle
Coach, the luxury handbag maker, announced in March that they are opening 40 more stores and are upgrading stores to the larger flagship format (as large as 5000 sq.ft.). They see more of their sales coming from the high end stores, and also have research that suggests women are still splurging on bags even if they cut back elsewhere.
Tiffany, on the other hand, is opening smaller stores that focus on the lower end of the product line.
The middle is often the danger zone, where you are too expensive for the mass-market, and too ubiquitous for the luxury market. Plus the middle is where all the competitors are.
Doesn't this just make you wonder where Starbucks is going to go?
There are so many interesting things going on in the world, are there not? I want to share more of these with you as I hear about them, but they're not all worthy of a full post. So starting this week, I'm going to periodically bundle up a few of these in a Friday "This just in."
These summaries will not have our regular level of analysis. For those of you using an e-mail subscriber, I'll keep the title the same so you can easier manage your in-box.
So off we go.
Everyone can be a creative director: Getty Images has sound
Stock art libraries put high-quality photos and illustrations in more hands, and gave visual artists new outlets. Now the same thing is happening to sound. Let's say I want to add some sound to my PowerPoint presentations. Or to my website. I can now do that *legally* and relatively cheaply, with someone else managing the rights.
The me generation plans for transition: Requiem For You
You don't have to wait for a composer to write something in your honor, you can commission a Requiem or Laudatio to mark the major milestones in your life (or death, as the case may be). Vienna-based company Requiem For You will commission a composition to commemorate your life and achievements, arrange for an audio recording in your choice of media, and arrange a performance.
Social networking for the stock-option crowd: FT Executive membership forums
You have to apply. You have to qualify. And a one-year membership costs 1700 £.
Social networking for the no-stock-options worker bee
The latest to add internal social networks is Scotiabank. IBM and other major tech/knowlege organizations have been working on internal social networks to share knowledge for a while now. Seeing a bank join in suggests that there will be much more of this happening in future. Will it prove to be a competitive advantage? Stay tuned.
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