Checks | Joy of Direct Marketing

Last week, with Certificates of Deposit (CD) due for renewal, I called the bank to find out the new interest rate. A woman answered, dithered a bit and then said that nobody could talk to me. They’d call back.

They didn’t.

I called again the next day. Same thing. The bank is a Florida operation with 20 branches, so I tried calling another branch that is near my office, but apparently you can’t do that.

Hmmm. I called my original branch, tapping my feet, and told whoever answered that I’d be in to close the CDs the next day. He said “okay”.

So, I drove over there and, after an hour of waiting to get approvals, I left with my cashier’s checks. The employees didn’t even pretend to try to keep me as a customer.

Later many people tweeted and emailed me that the reason the bank didn’t care about renewing my CD’s is that they really make no money on them and that they’re more interested in investment accounts or loans.

That may be the case, but aren’t I a prospect for all of those programs also? Yes, I am. Plus, I’m on my Condo Board and we have a huge sum of money in that particular branch. They made me upset because they didn’t recognize our long-term relationship. And, as a business owner, I would be so upset if any of our clients were ever treated poorly like I was.

Flash forward a day

I was talking to my right-out-of-college assistant, Rachel, about saving money and investing wisely. One thing led to another, and I called to make an appointment for her with Jack Howell at a nearby branch of Scottrade.

He was happy to meet her and spent a lot of time explaining how to trade online. He answered her questions and was so informative that I, who’ve had a Scottrade account for years, learned a few things – like how to find dividend bearing stocks on Scottrade’s website. Here’s a photo of Jack with Rachel.

Since then, I’ve told all kinds of people about how great Scottrade is, even Tweeting the company’s praises to my 17,700 followers. My cousin, Fran up in Philadelphia, just called to tell me she signed up for a Scottrade account. Maybe others did, too.

I can’t understand the bank’s cavalier approach to customer service. They weren’t always like that. My Mom and Dad banked there for years and loved it. Maybe it has something to do with the fact that a large international bank group bought them a while back and now their marketing focus has changed.

Maybe they just wanted me to leave. It’s possible. But, why? What are your thoughts?

Ah, those were the days! One of my first DM jobs was at Greystone Press, a continuity publisher. We sold books in sets, one at a time, and billed customers monthly. Titles included the International Encyclopedia of Art, the International Illustrated Encyclopedia of Decorating. We also had gardening sets (that I wrote), and how-to handbooks.

And every day, the good ol’ USPS delivered mailbags filled with orders and, more important, checks. This was before normal everyday people had credit cards.

Orders and checks actually came right to our office in Manhattan and a bunch of people in the fulfillment area worked quickly to give us flash counts, daily, sometimes hourly.

It was exciting to hear that thousands of orders had come in, with checks, or that there were fewer cancellations than expected.

It was a joy to sit in the back room watching the fulfillment people outserting checks and writing up bank deposit slips. I loved finding out which of my programs was working best and which were lagging.

Now I call clients to ask how a mailing we did is faring out in the market and they often just don’t know yet… and maybe they’ll never know. “The data guy hasn’t put the numbers together, but there seems to be a lift, which may not be because of your mailing because so many responses are unidentifiable .” Which you wouldn’t think possible, would you? Read the rest of this entry →

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