Complex Collapse

Bank of America really doesn’t want to make money. Well, that’s not true, but their technology seems to be designed to chase customers away. I say this after having sent error pages and bug reports to several people in the BofA mortgage division. During a second attempt at refinancing an investment property (the first attempt bombed due to internal, human process malfunctions at BofA) I was stopped by their technology for sending me email. Yes, email. BofA has implemented a byzantine email apparatus, seemingly invented by Rube Goldberg, for sending messages to loan applicants. The system: … Continue reading

Marketing Expectations

Marketing sets expectations, creating a gap between customer desire and results

Your customers expect what you tell them to expect, and what you don’t tell them to. Outbound marketing is largely about setting customer expectations, which we do through branding, messaging, feeds-and-speeds lists, pricing and so much more. After encountering a product, customers have gut-level sets of expectations. Drive past a posh French restaurant and a dirty taco truck, and you have two completely different expectations concerning your culinary experience. Where bad and good buzz begins is when you set one expectation and deliver another. Set expectations low and deliver high, then people sing your praises everywhere. Invert the expectations and results and you likewise invert a customer’s public reaction. Marketing is responsible for defining those expectations, and presenting most of them (every employee who interacts with customers is also responsible, and great CEOs make sure they all set the right expectations). Marketing defines the brand – a primary expectation-setting tool … Continue reading