Jun 22, 2010

ATMs: Are they the best way to reach bank customers?

Most of us have been marketed to at some point at ATMs.

We're a captive audience for those 20 or 30 seconds and the banks are looking to cash in on this. I for one get a lot of 'meet your bank manager' nonsense.

Is the insight really that customers would spend more if they only knew somebody there? Really?

While it's great the branch is looking to put forward someone to talk to me mano-e-manager they could do so much better.

I'd actually prefer some offers or incentives that are relevant to me and my banking. The banks have a wealth of data on us so why not use it to more effect?

If you know I usually withdraw $200 why not tell me how I could better invest $200 on a regular basis? You know where I spend my money through my eftpos transactions, why not show how that money is better spent with your bank?

ATM: Hi Warren, I see you've been purchasing rusty bikes through eBay. You know, if you invest the cost of one of those bikes in our super-high interest performer account each month you would have $1,254 at the end of the first year?
That would be kind of cool. Creepy, but cool.

As a Gen Xer I need as many reminders as possible on what I should be doing with my money (beside rusty bikes). I'm not watching the bank ads on TV. I throw your DM away (geez it costs a bomb) and I hardly ever do anything online except my everyday banking.

If you know people need a name and face at the branch then even have Bill or Belinda Bank Manager worked into the mix. I'm keen to know how they are good with money. Have them give me some money tips. I assume they're good with money so what can they teach me?

There is so much banks could be doing with ATMs during the time we spend there. I really hope to see more effective, personalised marketing some time soon.

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