Marketing, customer satisfaction and loyalty
Satisfied customers will follow you everywhere
Marketing strategy: should banks charge customers more?
Mar23

Marketing strategy: should banks charge customers more?

The boss of the National Bank of Belgium suggested that banks change their tariffs and charge customers for services like cash withdrawal, payments made by bank cards, yearly fees charged to have a bank account, … Is it a good marketing strategy ? Why were such proposals made when, at the same time, consumers keep losing purchase power each and every year ? If such proposals were to be implemented, what would be the consequences on...

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The Delta Lloyd recipe to acquire new customers
Nov12

The Delta Lloyd recipe to acquire new customers

Some customers segments are more difficult to reach than others. Independent workers are certainly one of them. They go by the “time is money” principle and usually try to make their days as productive as possible. As a consequence little –if any- time is left to handle formalities, go to the bank, take care of insurances, … Delta Lloyd had an interesting idea to capture that audience. 50% of independent workers have no insurance...

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Reading the little lines at the bottom may be funny
May29

Reading the little lines at the bottom may be funny

ING launched yet another campaign for its savings account; it features an orange pig which symbolizes savings and obviously has the color of the brand. I was searching for information about the real rate of this product and was therefore reading the little lines at the bottom of the ad. Instead of that I found out that the pig had not been harmed and was colored orange in post-production.   I will sleep well tonight. Thanks for...

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Unicredit explicitly warns investors about national currencies reintroduction scenario
Apr02

Unicredit explicitly warns investors about national currencies reintroduction scenario

Very few people have noticed it but readers of this blog will be aware of an event that recently took place in Italy, when Unicredit launched a capital increase on the market. The bank edited a 300-page leaflet which sums up all risks for the investor and on page 66 you can read the following: Furthermore, concerns that the Eurozone sovereign debt crisis could worsen may lead to the reintroduction of national currencies in one or more...

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Sabine Laruelle, Belgian ministry of SMEs, on the importance of entrepreneurship
Dec21

Sabine Laruelle, Belgian ministry of SMEs, on the importance of entrepreneurship

I was listening on Dec. 13th to an interview of Sabine Laruelle, the Belgian Ministry in charge of SMEs, on a local Belgian radio (Twizz). In a crisis context like the one we are currently going through, it is perfectly understandable that the attention of the States focuses on entrepreneurs. For instance Bruno Wattenbergh, the Managing Director of the Brussels Enterprise Agency, was dealing the other day on RTL with the powerty...

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How to announce a bad news: the example of ING
Dec05

How to announce a bad news: the example of ING

Today’s post is far away from marketing but was triggered by a communication issue, which remains a central topic is modern marketing. ING announced within 30 days that it would reduce interest rates on both its current account and its savings account. Interest rates for current accounts will be 0,05% (let’s say nothing) and on savings accounts it will be decreased from 1% basis rate + 0,5% loyalty bonus to 1%+0,25%. In today’s...

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Dexia: you’re not alone
Oct21

Dexia: you’re not alone

Everyone has heard about Dexia’s problems. The French Belgian bank was eventually nationalized last week and it seems that customers had withdrawn an amazing 1b Euros since early September when they starting loosing confidence in the bank. Coincidently the bank sent its customers about 3 weeks ago a leaflet in an attempt to differentiate from the competition in terms of customer service. I bet this leaflet is already forgotten...

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BNP Paribas ad on mobiles: not very believable
Jun14

BNP Paribas ad on mobiles: not very believable

Banks have for a long time tried to make us believe that they are at our service. I doubt it’s true. The latest ad by BNP Paribas gives me the opportunity to illustrate my belief. The ad says “Entrepreneurs, your projects are our priority”. First of all I doubt that a bank will lend money to a farmer for a big investment, knowing the thin margins farmers must work with and their repaying capacities. If you’re a...

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Crédit Agricole: why I don’t understand their communication on Facebook
Sep20

Crédit Agricole: why I don’t understand their communication on Facebook

After I published my post on Crédit Agricole, I got several comments (one of them from the Crédit Agricole itself) which call for a more detailed argumentation. Here are the main points of concerns I was dealing with in my previous post: the communication campaign called “Frein’Art” doesn’t’ allow to stress the values of the banking industry and doens’t draw on the empirical results obtained in the...

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Credit Agricole: why does a bank communicate that way on Facebook?
Sep15

Credit Agricole: why does a bank communicate that way on Facebook?

Read the literature on service and you will learn that appearances are among the most important criteria to judge service quality. This being said I’m wondering why a bank (namely the French bank Crédit Agricole) communicates so strangely on Facebook. The posts are mainly jokes, conveying a kack of seriousness (which is by definition what a bank, especially in times of crisis, should communicate on). Perhaps does Crédit Agricole...

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