If your marketing department is like a lot that I’ve seen, it’s filled with “creative” types. They make things that are pretty, produce lots of “stuff,” and throw great parties.
But when it comes to quantifying ROI, well…who wants to talk about that uncreative stuff, right?
Where did they get that attitude? They learned it in marketing school. But quick, name a few marketing professors who’ve made a fortune with their marketing strategies.
It’s not that they aren’t teaching anything. It’s just that they are usually setting their students up to succeed brilliantly in 1992.
Picture yourself in the driver’s seat of your dream car, ready to go—but the windows are all painted black and there are no gauges. You turn the key and the engine roars. You push the pedal to the floor and away you go!
Oh you’ll end up somewhere, all right—but it won’t be pretty.
Too many banks operate exactly this way. People go to work every day and push that pedal to the floor. But do they have any idea WHERE they’re going? Too often, the answer is no—and the reason is a lack of outcome-based thinking.
Roxanne Emmerich shares her approach on how to attract the best customers to your bank:
I get a kick out of watching Mad Men. There’s something captivating about being transported to another time like that.
Slightly less fun is the feeling I get when I see banks in the real world and the present day throwing money away on traditional advertising like it’s 1965.
You know the game. You go to an ad agency. They come up with a slogan. You run it. Nothing happens. They say, “Just wait;