Criticizing Voice of the Customer (VOC) programs is like speaking out against motherhood and apple pie. The last time I criticized VOC programs, someone left a comment chastising me for presuming that a bank could know what its customers wanted without asking them.
“Marketing abounds with ‘fads’ – which over-promise and under-deliver. These messages are sometimes presented as the ‘secrets’ of companies that are supposedly fantastically successful at the moment. The sad fact is that most of these messages are incredibly over-optimistic and at worst, downright deceitful.”
EY (is it not called Ernst & Young anymore?) released its 2014 Global Consumer Banking Survey recently. For a better review of it than I’ll provide here, see the summary on The Financial Brand, or download the report directly.
The marketing pundits tell us personalization and customization is key to successful marketing. One-to-one marketing, they call it. Recognition that every customer is different, and should be interacted with differently.