• About Tom Dougherty

    Tom Dougherty CEO, Stealing Share

    Tom Dougherty is the President and CEO of Stealing Share, Inc., and has helped national and global brands such as Lexus, IKEA and Tide steal market share over his 25-year career.

    An often-quoted source on business and brands, he has been featured recently by the New York Times and CNN, discussing topics ranging from television to Apple to airlines.

    Tom also regularly speaks at conferences as a keynote and break-out speaker. To find out more on inviting him to your speaking engagement and view a video of him speaking, click here.

    You can also reach him via email attomd@stealingshare.com.

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Banks. The revolution has (not) begun

News that a few of the big banks are recovering a bit in first quarter of this year is welcome news and, for many, hard to figure out. Sure, the bailout money has helped, and shares are up for JP Morgan Chase, Bank of America and Citigroup, while Wells Fargo is reporting a profit.

big-banks

What gives? Aren’t we all supposed to be angry with the big banks?

Well, yes, we are, but what choice do we have in doing anything differently than before? In today’s economic climate, we’re all seeking refuge which usually means staying with market leaders and looking for expertise (even if that expertise got us in this fix in the first place).

What makes it more difficult for change is that few, if any, of the competitors have taken advantage of the opportunity to steal share from the leaders. The opportunity is real, and there is research to prove it, but even the smallest bank presents itself exactly the same way as the giants. When all things are equal in any category, and there is no emotional preference established for any one of the players, consumers will always default to the market leaders.

Or, in this case, just stay put.

So, if you’re angry with the big banks over what they have done, you should actually be angry at the smaller ones who haven’t done anything about it. They’re now just as culpable and have left us stranded.

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