QUIZ: Which Sales Message Is Best?

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  1

  paulcastain

  08/04/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Interesting post Geoffrey.
  
  Thanks for the wake up call!
  
  Respectfully,
  Paul Castain

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  2

  lransomjones

  08/04/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Ummm... In this economy, most people would go with a reduced fee or zero fee for checking (using the banking example). Why go with a 100 yr old firm if they are charging $20 monthly service fee and a fee for overdraft protection? Economically, #3 would not be the "correct" answer. Actually, why is one answer any better than another? Individuals will decide which is best for them vs. someone telling them it is best for them (assuming they are independent thinkers!).

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  3

  thecurvyjeweller

  08/04/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  #2 - you are missing the point. What about after the recession when people want value over money savings, the 3rd option appeals for life and all economic times, as the blogger said other banks can offer excelptional cust serv and reduced costs but they can't offer longevity and security, which as the blogger said, IS what people want. (assuming they are worthty of value!)

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  4

  Geoffrey James, Sales Machine

  08/04/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Re Note 2:
  Every other bank has that message and are running ads that say that. The message must differentiate to be effective.

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  5

  Mark Wayland L3F

  08/04/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  I agree that every business says they give exceptional customer service (no differentiation) and it's easy to charge what everyone else is (commodification). The 3rd alternative, unfortunately, just leaves me uninspired. The explanation you give is a reading-between-the- lines justification for what "100 years" can mean. I mean, would you promote an employee just because of length of tenure?
  
  In exercises like this it simply amounts to research by opinions. And so, maybe this is not the bank for me? Still, my major issue here is that it would be nice to have some objective evidence, like running a split test of the 3, before announcing that the "correct" answer is #3.

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  6

  HASGBS

  08/04/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Just wanted to share my vote for #2, based on my personal experience with a few local banks. I'd been doing business for many years with Bank A, but when they discontinued free checking and started charging fees, I switched to Bank B, based on their promise, similar to #2 above. Their customer service has also been excellent. BTW, the bank I switched to is WAMU, now Chase. I guess #3 may come in here also, since Chase seems to be stable for the present and hopefully the future.

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  7

  Frank777

  08/05/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Sorry Geoff
  
  I disagree as Message 3 does neither. We all know that when you sell on price you are already in trouble and that is in essence what you are advising people to do ( even if it is a differentiator, which it is not really ) and all other banks will probably be doing the same

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  8

  Bob Wileman

  08/05/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  It would be nice to think that 3 would carry most weight, but we and other long-established businesses are having to hang on by our finger-nails and come up with incentives that meet todays requirement for deals. Despite well-publicised crashes, it's clear that most people are not hurting enough to unlearn the lesson that cheapest is best, and if not you can always find another supplier. When there are far fewer suppliers of any goods or service we may see a change.

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  9

  SDiva

  08/05/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  I would still have to choose message#2 because I really don't care how great the customer service is if I'm going to get free checking instead of paying then let's do it! I have always come to the conclusion that sometimes being around many years in business is good for the wisdom, but sometimes old habits die-hard and many times those businesses are not willing to move forward in technology or business savvy.
  
  In today's market there are many choices and loyalty is not so much the issue anymore it is cost. Overall, it still depends on the individual. Some will pay for the customer service no matter how much it cost, but unfortunately that will change eventually for self-preservation purposes.
  

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  10

  annemfg

  08/05/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  #2 resonates with me. I appreciate the value of not spending money when I don't have to, and like many consumers today, I have traded warm and fuzzy customer service for the convenience of online banking. 100 years of existence in a slower moving world does not translate to value now that circumstances change instantly. And it does sort of hint at stodginess. How many companies do we all love to buy from that have been around a fraction of that time?

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  11

  middleaged

  08/05/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  I voted with Geoff on this one and went for 3.
  
  Reasons -
  1 was obviously a nice little phrase dreamt up by a copywriter and means nothing as every other bank will be claiming the same.
  
  2 was very specific and would appeal to some, but what happens when they pull the benefit 6 months from now, or sneak in the charges somewhere else.
  BTW do people still use cheques?
  Additionally if they are targeting customers with overdraft protection, it suggests that they may be in for a bumpy ride.
  
  3 Appealed to me as I liked the image of a family orientated bank, that was intent on being here for the long term. It conjured an image of an elderly bank manager with rolled up sleeves and those little half glasses that accountancy type used to wear.
  I know the reality is likely to be radically different, but the imagery (probably carefully written by a copywriter (or the sales machine) was more solid, dependable and above all believable.
  
  

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  12

  Geoffrey James, Sales Machine

  08/05/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Re Note 11:
  You pretty much captured my thinking on all points.
  
  As for message 3, it came out of my own brain. I usually spend about 10 seconds (at most) rewriting these messages, which is why I do it for free. It's a knack.

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  13

  conlad

  08/05/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Nah, message 3 doesn't do it for me. You have to read in too hard to catch the value, and that kills a bit the sales message intention. Of course, it is the most imaginative because the other two are dreadful.
  
  However, here I am going with those who say that it depends on the audience you want and what they consider valuable. For example, I agree the security and durability are key points of banks, but isn't that the first thing you ask for? isn't that the first aspect of service and value you seek? then that message only states that they do what they obviously must do and nothing else, Like an automaker that uses as sales message that their cars work. But, in your case you consider them the highest value points and so promote them in your message, while many here don't share that view for they don't care about that so much (or think it's a given of banks, crisis not withstanding).
  
  However, in the end I agree that you have to differentiate and de-commotize, but you need to know to whom are you speaking to.

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  14

  Nate Jones

  08/05/09 | Report as spam

  Loved the quiz

  I write value props for a living and develop product messaging and market strategies. This was right on target. Differentiate your brand with a unique and distinguishable characteristic that appeals to an emotion that attracts. Safety, strength, ease, happiness, freedom etc.
  
  Do it while being specific enough that it doesn't come across as BS and is unique to your brand.
  
  Very nice.

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  15

  jad67

  08/06/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  The art of commodity differentiation is to make an appeal based on attributes that are not directly associated with the commodity, hence my vote for #3.
  
  Classic example : Domino's Pizza
  
  The tastiest or the biggest pizza? No
  The fastest? Yes

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  16

  oag111

  08/09/09 | Report as spam

  3rd message is dubious and perceived as fraud

  I do not agree with the selection. 1) The 3rd message is merely a claim that cannot be substantiated. 2nd) It is connected to the "bank survival" question which in this climate is exceptionally questionable. 3rd) As a result of the continuous reminders of bank excesses, failures, and bailout there is little bank credibility.
  The 3rd message while endearing, would be perceived as fraud!

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  17

  Geoffrey James, Sales Machine

  08/09/09 | Report as spam

  RE: QUIZ: Which Sales Message Is Best?

  Re Note 16:
  Interesting point. Adding a "probably" doesn't help the message much, though. Actually, it would only be fraud if the bank weren't there when the great-grandchildren were born, and if that happened, there'd be nobody to arrest, because the bank would be gone.