The Story

The recent Sunday New York Times article (October 14), “The New Advertising Outlet: Your Life,” covered the true direction and future (and reform) of marketing. In summary, the article stresses the crucial significance of interacting with customers by using direct approaches (like Nike’s Running Club) as opposed to general broad advertisement.

This approach is not necessarily groundbreaking (except some just don’t get it, yet, ugh!), but the direct approach is putting the heat on the old school way of advertising—that is, buying expensive print and broadcast ads that don’t have impact, nor the return on investment. Worst yet, these general ads just don’t directly connect with the customer – they’re telling, but not necessarily proving anything.
It’s all about CONNECTION, folks. It’s not just using advertising because it’s what’s been always used to connect with customers. The connection must be more direct to influence the customer’s decision. The best quote of the article speaks directly to this point:
“We’re not in the business of keeping the media companies alive,” says Trevor Edwards, Nike’s corporate vice president for global brand and category management, to many media executives. “We’re in the business of connecting with consumers.”

It’s time to get innovative with your bank marketing strategies. Traditional advertising is clearly dying. Connection advertising (a new industry buzz word?) is all the rage. Bank and credit union marketers, join the party.

This entry was posted on Tuesday, November 13th, 2007 at 6:02 pm and is filed under Bank Branding, Credit Union Branding, Bank Marketing, Experiential Marketing, Credit Union Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.