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Free Money - For Crooks

Man_money Banks, Credit Bureaus and Savings and Loans spend lots and lots of money attempting to convince consumers they are:

  • Helpful
  • Friendly
  • Courteous
  • Kind
  • (Yep, I was a Boy Scout)
  • Safe
  • Secure
  • Dependable

Here is just one example of how just one bank employee can really destroy a brand:

This morning I was visiting with a client about mail service.  It seems several things we've sent out just never gets to where we send it...or sometimes it takes weeks.

That story prompted our client to tell me one that I found amazing.

It seems a customer of theirs sent in a payment by mail.  Sixty days past due our client called their customer.  The customer responds by saying the check had cleared and was endorsed with the company name and "Pay to Alice Smith" (not the real name) under the handwritten endorsement for the company.

Our client never received the money and they have NOBODY named "Alice Smith" working for the company.  They called the bank that cashed the check asking if they had a customer by the name of "Alice Smith". 

They did.

Our client then seeks to collect the funds.  To no avail.  They have spent hours on the phone, filling out statements and legal papers in an effort to collect the $300.  That was six months ago.

They finally gave up and "Alice" pocketed the cash.

It's not a lot of money...but what's a company to do?

Meanwhile we have stories like this that must mean somebody did not follow procedures at the bank...and they blow their marketing plan just like that.  Ouch?

Michael P. Libbie - Insight Advertising, Marketing & Communications where it takes only one incident...how do you fix this?

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