Wednesday, February 29, 2012

CIBC Bank Building Customer Relationships

Here's an example of a big bank (CIBC) building relationships. Contrast that with the usual corporate approach of focusing on branding.

I believe that relationships beat branding in terms of marketing payback. Yet most corporations focus on branding because it is trendy, sexy and expends much more money. Branding allows the corporate folks to reamin aloof and safe. Relationship building requires personal commiments.

So, I'm impressed when a big bank works to build relationships at the branch level. They can't build relationships at the corporate level.

Look at this flyer from the local branch of the CIBC. They are inviting local families to get their photo taken. It's free. It's good relationship marketing and it clearly identifies their target market - local families.

Congrats to CIBC bank. Banks need to realize that they have a corporate brand and a branch (small business) relationship with clients. They need to leverage both connections.

PS: I'm even more impressed because I received two follow-up reminders about this photo day at the CIBC bank. A second flyer arrived by regular mail AND I received a voice message on my phone. WOW! A big bank learning how to market to people.

George Torok Keynote Marketing Speaker Co-author of Secrets of Power Marketing
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