Even though I access almost everything from the internet, I must admit I do my best to avoid being served ads. But when you work in advertising, friends and coworkers tell you about memorable and creative ads. For example, do you remember the “Epic Split” video from Volvo? Of course you do.
Does your marketing sell the advantages of working with your regional bank or credit union? Or does it reinforce negative stereotypes that prevent people from doing business with you?
The coffee pot in the bank branch is a familiar image. But who actually drinks the coffee? Contemporary banking is about completing a transaction and getting out. Or better yet, making deposits and checking balances on a phone at 2 a.m. But with new café-style branches, Capital One is betting on a different calculus.
The average consumer might have fewer choices for energy and water providers than, say, stores to buy clothes or cars. But utility marketing shouldn’t take that for granted. It’s important to articulate the value that you deliver to them and build and reinforce your customer relationships, and that requires utilities to go beyond running perfunctory brand campaigns and start putting the same care into marketing as B2C organizations in competitive industries.