Category: Marketing Insight

Why people hate banks

Posted on by Steve Sammartino

People hate banks for lots of reasons. Too many to mention here. But here’s one: They pretend to care. 

Why shock, horror; I actually had a pleasurable banking experience.  

Upon opening a couple of business accounts at the Bank of Queensland in Yarraville and the staff actually did care. We even shared a joke or two. 

The clincher was with a simple statement: When asked how many monthly transactions I’d need at the branch and I replied with I’ll do it all on the net, they replied;  

“That’s a shame, we’d like to see you come in. Remember we’re here if you ever need help or want to come in and discuss any issues.” 

It wasn’t corporate training speak either. The body language and tone told me it was real. We humans can sense these things. Funny how the things that cost nothing, add the most.

If any local business colleagues ask me about banking, guess where I’ll send them?

Ego

Posted on by Steve Sammartino

I recently bought the book below. I have read this book before, and yet I felt the need to purchase it and add it to my library.

 the-prince.jpg 

Yes, I will read it again, but that’s not why I purchased it. In fact it was a $50 impulse purchase.

On close inspection of the photo above you’ll notice this hardcover version of the book has beautiful embossing and a soft silken fabric cover. It’s tactile and premium. This book was an ‘ego’ purchase.

We normally associate ego purchases with items which are on display: Fast cars, haute couture clothing, funky sunglasses, golf clubs, Euro design kitchens and bathrooms, flying first class et al. Places where our consumption choices are on display. However, The Prince by Machiavelli will not be on display – only in my house and head.

The lesson for start ups is this: Our ego can be leveraged in any category. Even boring stuff like books. We’ll often pay more (which I did, more than double) because our ego isn’t an external thing, ego is about self importance, whatever that means to us.

As seen on (TV) Google

Posted on by Steve Sammartino

As seen on TV Google… 

Back in the halcyon days of the TV industrial complex, an oft used selling point was the fact that something was actually on TV.

The thinking went something like this: 

  1. TV advertising is expensive
  2. They (brand X) are advertising on TV
  3. They have the money to make this investment
  4. So people must be buying this product
  5. This product must be good
  6. I will buy this product

as-seen-on-tv.jpg 

It built a sense of trust. Trust that evolved from assumed scale.  

Guess what? It’s back! Only this time it’s ‘as seen on front page of Google’. 

The new thinking isn’t too different:

  1. Google knows everything on the web
  2. It’s on the front page of Google
  3. Google has done the sorting for me
  4. Lots of people must be using this site
  5. Lots of sites must be linked to it
  6. I can buy from (trust) this website

The cool thing about this for start ups, is that it really only takes an investment in time and thinking to get there. Not a big media buy.

Uncovering the gold nuggets

Posted on by Steve Sammartino

One more quick rentoid spruik. We’ve just added a couple of cool things to rentoid.com: 

The rockstar list

The quirky list

and the ‘surprise’ function

 rentoid-home.png

They’re all decided by members through a tagging system. We’re hoping they’ll add a bit of a social element and in turn unlock some of the gold nuggets we have hidden in our database of listings…. Click ‘em and be pleasantly surprised.     

    

Don’t forget to tell startup blog your thoughts.

Prosumer UNM2PNM

Posted on by Steve Sammartino

A certain chapter in ‘Join the conversation’ struck a chord.

Chapter 5 – The Rise of the Prosumer.

To me this is the most compelling change in the business environment. JJ contends that business was so decidedly one-sided; lop-sided in favour of the supplier; the manufacturer; the marketer – that they completely overlooked the producing element.

Well JJ and startupblog agree that things have changed. The business world is now moving quickly from ‘producing stuff’ – to ‘providing infrastructure’. Infrastructure is becoming so cheap – consumers simply make their own ‘stuff’. We’re starting to consume the factors of production, not the factors from production – Prosumers.

Smart start ups ought to be thinking about what infrastructure we can provide, rather than what goods we can produce.