Some Banks Just Don’t Get It

October 19, 2009 by  
Filed under Insights

inside envelope of bank preapproved credit card

It is amazing how some banks waste resources in their marketing campaigns. One example is when banks send pre-approved credit cards to their customers, even though their customers never ask for those cards.

The photo above shows all the material inside a single envelope by DBS, including the letter, pre-approved credit card, brochures, card agreement, and discount vouchers. Customers who are not interested in the credit cards offered by the banks simply throw them away, hopefully into recycling bags or bins.

Imagine the envelopes, letters, brochures and credit cards that go to waste, just because the banks simply chose to throw them at their customers without asking them if they want the credit cards in the first place. These banks are not only wasting resources and money but also ending up irritating their customers.

Are you one of those banks? It’s time to rethink and do things differently (hint: read Seth Godin’s books for help).

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