#716 in the Project was submitted by James Mayer, a fellow brother from America’s oldest professional business fraternity Alpha Kappa Psi. He recommended a post from Jim Taggart at the blog Changing Winds:
TD Bank and their extra days and hours
Here is an excerpt:
As [CEO Ed] Clark expressed in an interview with the Financial Post Magazine (February 2011):
“…the great thing about our model is if I put a branch on a corner in New York City, I know five years later I will have more than 25% of the local business, because at some time in that five years someone will come by at 4:02 pm. Their branch will be closed, they’ll look across at our store, this beautiful store, there will be someone giving dog biscuits to somebody’s dog, they’ll walk in and there’s a greeter that’s unbelievably friendly, and they’ll say, ‘So why am I banking at the guy across the street?’
On Sundays we send our bankers out to all the small businesses and say, ‘You’re open, we’re open, and you bank with the bank that’s closed.’…It’s a very simple concept: Just be open longer and give better service.” Clark also noted, for example, that their branch at 2 Wall Street, which opened five years ago, now has US1 billion in deposits.”
Marketing Lagniappe Takeaway: Be open, convenient and give better service. Words to live by.
Today’s Lagniappe (a little something extra for good measure) – Craig David sings about 7 days:
Lagniappe defined: A marketing lagniappe, i.e. purple goldfish, is any time a business goes above and beyond to provide a ‘little something extra’. It’s that unexpected surprise that’s thrown in for good measure.
How do you stand out in the sea of sameness? How do you win repeat customers and influence word of mouth? Are you Giving Little Unexpected Extras?
What’s Your GLUE?
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