You Can’t Market Financial Services To Women

Marketing financial services products to “women” is doomed to fail, and simply not a very good idea. If 89% of the decisions are made by women, then pretty much ALL of the decisions are made by women, no? Which means, the ONLY people worth marketing to are women. What I’m trying to convey here — and I’m worried that I’m not articulating this clearly — is that “women” is not a manageable, marketable consumer segment.

Wookin’ Pa Nub: Banks Are Looking For Growth In All The Wrong Places

In the history of Saturday Night Live, there might not be anything funnier than Eddie Murphy doing Buckwheat Sings: Wookin’ pa nub in all the wrong places, wookin’ pa nub.Based on a (unrepresentative) survey of bank execs, it appears that banks, too, are wookin’ pa nub in all the wrong places. More than half of the respondents expect to grow through organic loan origination, while just 7% plan to grow through new revenue sources. There’s some serious short-sightedness here.

The Fat Lady Ain’t Singing To The Banks

American Banker ran an article titled Time to Face the Music On Disintermediation in which the author stated: “In spite of all the regulation that helps prop up legacy business models and protect established companies, much of banking is ripe for digital disintermediation-and it’s starting to happen already. Fundamentally, banks connect those with money to those who…

Financial Spas

99.8% of the financial services world calls the physical dinosaurs that populate the real world “branches.” There’s .1% that refers to them as “cafes” (ING Direct) and .1% that calls them “stores” (Wells Fargo).  Snooze.  Banks and credit unions are missing a huge opportunity here. Namely, to transform those legacy physical structures into financial “spas.”…

Quantipulation: Online Banks’ Deposit Growth

American Banker ran an article titled Online Banks’ Deposits Grow at Quadruple Industry Pace which stated: Among the nation’s largest stand-alone direct banks, deposits have increased by 70% since the first quarter of 2008 to a combined $330 billion as of Sept. 30, or roughly four times the industrywide pace. Even for ING Direct, the largest and most…