Why people hate banks March 13, 2008
Posted by Stephen Sammartino in Audience (Consumer), Business admin, Corporations, Customer, Marketing Insight, banks, brands, business, business ideas, employees, entrepreneurs, entrepreneurship, marketing, startups, word of mouth.2 comments
People hate banks for lots of reasons. Too many to mention here. But here’s one: They pretend to care.
Why shock, horror; I actually had a pleasurable banking experience.
Upon opening a couple of business accounts at the Bank of Queensland in Yarraville and the staff actually did care. We even shared a joke or two.
The clincher was with a simple statement: When asked how many monthly transactions I’d need at the branch and I replied with I’ll do it all on the net, they replied;
“That’s a shame, we’d like to see you come in. Remember we’re here if you ever need help or want to come in and discuss any issues.”
It wasn’t corporate training speak either. The body language and tone told me it was real. We humans can sense these things. Funny how the things that cost nothing, add the most.
If any local business colleagues ask me about banking, guess where I’ll send them?
Ego March 13, 2008
Posted by Stephen Sammartino in Audience (Consumer), Bootstrapping, Business admin, Customer, Ideas, Marketing Insight, Selling, books, business, business ideas, design, entrepreneurs, entrepreneurship, marketing, packaging, startups, strategy.add a comment
I recently bought the book below. I have read this book before, and yet I felt the need to purchase it and add it to my library.
Yes, I will read it again, but that’s not why I purchased it. In fact it was a $50 impulse purchase.
On close inspection of the photo above you’ll notice this hardcover version of the book has beautiful embossing and a soft silken fabric cover. It’s tactile and premium. This book was an ‘ego’ purchase.
We normally associate ego purchases with items which are on display: Fast cars, haute couture clothing, funky sunglasses, golf clubs, Euro design kitchens and bathrooms, flying first class et al. Places where our consumption choices are on display. However, The Prince by Machiavelli will not be on display – only in my house and head.
The lesson for start ups is this: Our ego can be leveraged in any category. Even boring stuff like books. We’ll often pay more (which I did, more than double) because our ego isn’t an external thing, ego is about self importance, whatever that means to us.
