Friday, December 21, 2012

The Power of a Simple Thank You

In the book, The Thank You Economy, Gary Vaynerchuk offers compelling evidence that we have entered into an entirely new business era, one in which the companies that see the biggest returns won't be the ones that can throw the most money at an advertising campaign, but will be those that can prove they care about their customers more than anyone else.

He illustrates that the businesses and brands that harness the word-of-mouth power from social media, those that can shift their culture to be more customer-aware and fan-friendly, will pull away from the pack and profit in today's markets.

To this end, I received an email letter today from one of the banks where I have an account. Seeing that I had just opened an account with Simple, I anticipated the worst. Maybe my initial deposit didn't clear. Maybe I did one of my transactions incorrectly or possibly didn't activate my debit card correctly. But the subject line for the email just had the words 'Thank You'. Upon opening the email (personalized with the name I told Simple I preferred using as opposed to my 'legal' name on the account), I must admit I was surprised to see that the email included nothing more than a 'thank you'. That's right, a simple appreciation letter from Josh Reich, the CEO of Simple.

Wednesday, December 5, 2012

Direct Mail Still Preferred Over Email, Social and Mobile Marketing

Despite a greatly increasing penetration of smartphones and tablet devices and a marketing industry focus on digital, social and mobile channels, a just released study of channel preferences by Epsilon reveals that consumer desire for postal mail continues to be strong.

The new report, Channel Preferences for Both The Mobile and Non-Mobile Consumer, found that, despite a more digitally-focused world, a majority of consumers still prefer postal mail for a large portion of their multichannel communication. This was especially evident with regard to financial services communication, where 38 percent of the U.S. households surveyed preferred receiving postal mail compared to 17 percent desiring information over the internet and 7 percent via email. Only health related communication had a higher preference for postal mail, indicating the advantage of direct mail for communicating sensitive information.