Move on, there is nothing to see here

Tom Dougherty, CEO – Stealing Share

19 May 2009

Banks have nothing to teach us

Banks are in a hurry to try to utilize the speed at which they re-pay the TARP funds as a marketing ploy to increase preference. As today’s news said, “U.S. banks are scrambling to repay TARP money as soon as possible, in an effort to signal their strength to the market.”

As a brand guy, I am all for finding the realities of the market and trying to make them positive. But there is no silver lining on this financial cloud, no matter how much they spin this last debacle.

What I love best about this is they talk about this as an industry, not as an individual bank trying to gain preference. But gaining positive spin for the industry. Who is that helping? It’s just another example of what is wrong with bank brands in the US: The Heard Mentality.

It seems banks are now in a hurry to differentiate their brands by claiming everything that all the other banks can and will claim as well. They actually believe we will chose them based on those.

What is next for these marketing masters? Differentiating claims like free checking, convenient hours and lot’s of ATMs?

This marketing segment has a very low bar even as it seeks an alternative that represents the needs and wants of the customers it wishes to attract. Just make sure you hold onto your hats for the next banking version of Marketing 101. What will they think of next?

See more posts in the following related categories: banks TARP money


Submit a Comment

Your email address will not be published. Required fields are marked *

Use Nextdoor, get rid of Facebook

  Nextdoor   Tom Dougherty, CEO - Stealing Share 11 December 2018 Use Nextdoor, get rid of Facebook About a year or so ago, I kissed Facebook goodbye. Much to my surprise, it’s making me use NextDoor more. My withdrawal from online communities probably isn’t a shocker...

Brand purpose is not what many think it is

  Brand Purpose   Tom Dougherty, CEO - Stealing Share 10 December 2018 Brand purpose is not what many think it is So, the marketing term of the year is Brand Purpose, as chosen by the Association of National Advertisers. And what do they use to demonstrate such a term...

Retail market changes are akin to climate change

  Retail market changes   Tom Dougherty, CEO - Stealing Share 6 December 2018 Retail market changes are akin to climate change Are you paying attention to the many retail market changes? I am. Some fundamental changes are afoot. I believe the days of large generalized...

Stealing Share branding nonprofits

Tired of hearing the same old shit?

We know its crazy. Read our white paper on fixing what's wrong in the banking and finance category.

Congratulations, your white paper will be coming soon!

Share This