Wednesday, August 26, 2009

OCBC's big marketing Flaw

A funny thing just happened to me, I just received a call from OCBC Bank. They asked if I had a home loan and when I mentioned I did not they proceeded to tell me if I was ever to consider getting a home loan I should consider OCBC bank. DONE. End of conversation which took less than 2 minutes.

2 things come to mind immediately, first off why would I bother getting an OCBC loan when I have had no prior contact with them. Do they seriously assume that from one single 2 minute call I would be interested to get a home loan from them?

Second, this lack of engagement or even relationship building on OCBC's part only confirms that they (i.e. OCBC) are only interested in selling to me.

As per my previous post, I mentioned that brands need to engage their customers. That goes for everything. Contact in any form must strive to build some kind of relationship with the potential or existing customer.

So, did OCBC make a huge marketing mistake - YES. Was their marketing technique time and money wasting - YES again! Two wrongs don't make a right.

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