Top stories from Financial Services in the Purple Goldfish Project

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Little Extras that add up

The Purple Goldfish Project was an effort to crowd source 1,001 examples of marketing lagniappe. Brands that give little unexpected extras (g.l.u.e) in order to drive differentiation, improve retention and promote word of mouth. This post is the fifth in a 12 part series looking at the top 200 examples from the Project by industry. Here is a handful of examples you can bank on:

Wells Fargo (from Suzanne Lainson) I’ve been going to the same savings-and-loan for years. When it was World Savings, they offered free coffee in the lobby. It wasn’t good, but it was something. When World became Wachovia, they eliminated the coffee. Now that Wachovia has become Wells Fargo, the branch I go to (I don’t know if they are all like this) is now offering GOURMET coffee. Yay!! It’s very nice to have a good cup of coffee when I am waiting in line.

umpqua bank marketing

Umpqua (#295 Taken from Joseph Jaffe’s book ‘Flip the Funnel’) “Umpqua, a West Coast bank chain based in Portland, OR has tellers place customers’ cash on black wooden trays along with a silver chocolate coin embellished with the bank’s logo. [Editors Note: Add in Free wifi and their own brand of free gourmet coffee. Put it all together and you’ve got some sweet free perks]

td bankTD Bank is rife with lagniappe. Jim Donofrio pointed out this school of purple goldfish.

  1. Open 7 days in an effort to be America’s Most Customer Friendly bank
  2. Green pens with the TD Bank logo. They can be found everywhere . . . from a local restaurant to large scale charity event
  3. Penny Arcade. The first thing you see when you walk through the door.
  4. No barriers between you and the tellers within the bank. This promotes a friendly atmosphere.
  5. Green lollipops for the kids and dog biscuits for Rover . . . everyone leaves with a smile on their face and a wagging tail.

TD Bank #716
Submitted via e-mail by James Mayer.
He recommended a post from Changing Winds: TD Bank and their extra hours. As 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.”

Wells-Fargo-StagecoachWells Fargo #859. Wells Fargo submitted via e-mail by Steve Curtin:

Stan, the other day I exchanged some coins at a Wells Fargo bank, using its automatic coin counter in the lobby. After all the coins are deposited, the counter totals the amount, printing two totals on a slip of paper that is to be presented to the teller for redemption. The first total reflects the total worth of the coins (e.g. $61.27). The second total reflects a 9% service fee deduction for non-customers (e.g. $55.76). Although I’m not a Wells Fargo customer, they’ve never given me the non-customer total in the three or four times I’ve used their coin counter in the past couple of years. It’s a 9% “little extra” that I’ve noticed and appreciated.

Today’s Lagniappe (a little something extra thrown in for good measure) – Here’s a look at Umpqua’s Innovation lab in Portland. Design, community and little extras make cents:

Republished with author's permission from original post.

Stan Phelps
Stan Phelps is the Chief Measurement Officer at 9 INCH marketing. 9 INCH helps organizations develop custom solutions around both customer and employee experience. Stan believes the 'longest and hardest nine inches' in marketing is the distance between the brain and the heart of your customer. He is the author of Purple Goldfish, Green Goldfish and Golden Goldfish.

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