MJ DeMarco
I followed the science; all I found was money.
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There's a thread in the INSIDERS forum about spotting needs and it was mentioned that many needs have NOTHING to do with NEW PRODUCTS, NEW SERVICES, or some NEW INVENTION.
Many times, it's just the SAME OLD PRODUCT/SERVICE, with NEW customer service.
I great example of this is ALLY BANK.
Take note of how they are attempting to brand themselves.
Spot and identify the problem.
"Bank customer service sucks!"
(On hold, fake "niceties" such as "how can I help you today?", ATM charges, talking to a machine, transfers to various departments, voice mail BS, fees, blah blah)
These hassles/issues are not straw-man, false arguments -- they are TRUE. These are things WE HATE when banking! We all have experience in this area and this is why it WORKS!
In their advertising, they identified these service gaps and "hates", and solved them in 30 seconds.
Surprisingly, many needs are simply poor customer service. Ally Bank is doing a good job of demonstrating the typical bank experience and showing WHY they are different and WHY you should bank with them.
[video=youtube;lxYluAgyTrw]https://www.youtube.com/watch?v=lxYluAgyTrw[/video]
[video=youtube;iYF3dqrpnxU]https://www.youtube.com/watch?v=iYF3dqrpnxU&feature=relmfu[/video]
[video=youtube;2Yz1NDAAJs8]https://www.youtube.com/watch?v=2Yz1NDAAJs8&feature=relmfu[/video]
Is BANKING a new product?
No.
Is "Nordstrom" type service in banking NEW?
Yes.
Now that the brand and position is established, they must EXECUTE on that brand position and supply the service as described and expected.
Customers, growth, and profits should follow.
If customers discover that the service is like other banks (and hence, feel duped) the whole brand strategy will fail.
Many times, it's just the SAME OLD PRODUCT/SERVICE, with NEW customer service.
I great example of this is ALLY BANK.
Take note of how they are attempting to brand themselves.
Spot and identify the problem.
"Bank customer service sucks!"
(On hold, fake "niceties" such as "how can I help you today?", ATM charges, talking to a machine, transfers to various departments, voice mail BS, fees, blah blah)
These hassles/issues are not straw-man, false arguments -- they are TRUE. These are things WE HATE when banking! We all have experience in this area and this is why it WORKS!
In their advertising, they identified these service gaps and "hates", and solved them in 30 seconds.
Surprisingly, many needs are simply poor customer service. Ally Bank is doing a good job of demonstrating the typical bank experience and showing WHY they are different and WHY you should bank with them.
[video=youtube;lxYluAgyTrw]https://www.youtube.com/watch?v=lxYluAgyTrw[/video]
[video=youtube;iYF3dqrpnxU]https://www.youtube.com/watch?v=iYF3dqrpnxU&feature=relmfu[/video]
[video=youtube;2Yz1NDAAJs8]https://www.youtube.com/watch?v=2Yz1NDAAJs8&feature=relmfu[/video]
Is BANKING a new product?
No.
Is "Nordstrom" type service in banking NEW?
Yes.
Now that the brand and position is established, they must EXECUTE on that brand position and supply the service as described and expected.
Customers, growth, and profits should follow.
If customers discover that the service is like other banks (and hence, feel duped) the whole brand strategy will fail.
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