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Tuesday, January 15, 2008

Bank Marketing Counterproductive

As I bicycle by, I often wonder about the temperature displays often shown in front of banks and other commercial establishments? These often seem to be off by several degrees.

This seems odd. My bank handles billions of dollars and wants me to believe their financial geniuses truly know it's appropriate to give me 4.52% interest (not 4.51% or 4.53%), but yet they advertise their services using an inaccurate measuring device. Am I supposed to be impressed by this?

Greg Goss expands on this point:

"Every time I call my bank's telephone banking service, I get the "We are currently experiencing unanticipated call volumes" message. If they cannot even anticipate their OWN business levels, why should I trust TD's analysts to run a mutual fund?"