Like Everyone Else, Financial Marketers Are Driven to Make a Profit

Share this content:
I agree with Kenneth G. Kraetzer's observation that misrepresentation of financial service marketing practices is not constructive to the current national debate over privacy issues.


It seems to me that most, if not all, financial institutions are inherently incentified, if by nothing more than a basic profit motive, not to alienate their customers or vacate (a.k.a. "sell") an equity relationship with respect to information about them. That's almost absurd when you really think about it.


While I might assign a tad more weight to the revenue-generation motive of financial institutions (in renting their sacred database of customer names), the bottom line, especially in today's competitive marketing environment, involves finding ways to create and maintain a sound fiscal balance between serving both customers and stockholders without unduly unsettling either, legally or otherwise.


Granted, this effort sometimes leads to (opted-in?) phone calls during the dinner hour to sell the latest gadget or widget, which, in true bandwagon de jour fashion, becomes more fuel and fodder for increased privacy-issue bashing. But such efforts also lead to the accomplishment of genuinely altruistic goals that benefit society in the final analysis, and that's pretty neat if you ask me.


Jerry Jones, Vice president, Amerenhance, a division of Travel and Transport Inc.,


jjones@tandt.com



Loading links....
close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here