If you're a worthy customer (id: rich), lots of banks go personal with you. Specially on customer acquisition.
I earn monthly a good salary for brazilian standards (I'm not riiich, but well above average) and when I was researching a bank to open an account to receive the salary from my current employer, one of the bank's branch manager actually said he wanted to meet with me on my own home, and he would bring bread and coffe.
When someone "actually personalise" an email it just means they thought the time spent doing this will be paid when the sale is closed. In this particular situation, it just means Bank Simple reeeally wants the author as a customer. Now I don't know if the author is rich, or well connected or popular (well, his article is featured here) but it's not that complicated. It's not magic, good will or anything like that.
It's incredible what excite some "geeks" (yes, you, HN reader). Ooooh a personalized email from a bank. Gee... It just meant someone ran the numbers and this might offer a nice ROI.
Certainly the personalization is not out of pure altruism, but speaking for myself, after having been pummeled for years with clearly impersonal solicitations for various financial services (some more dubious than others), with one credit card offer after another, one could be forgiven for seeing a personal note as some kind of minor miracle.
True ... and the last thing I want is altruism. I want good service, and I want to pay for it. Personal touches like this are very promising. It makes me think that if I had a problem or question, they would very competently "pull my file" and resolve it.
> Gee... It just meant someone ran the numbers and this might offer a nice ROI.
Yes and no! It's a good point you make, yes, people are after their interests. But it also indicates that they take the time and allocate resources towards a personal touch. They probably also put a little more time into learning details about you and generally caring for you. Carried forwards, it's probably a more customer-centric, personal touch type company and you're more likely to get good service there than elsewhere (as long as this touch isn't just on customer acquisition).
I've used a fair number of banks, Citizen's Banks kicks the hell out of everyone else. I mean, sure, it's probably part of their strategy, but it's still pretty awesome that when I was a nobody with no cash in their bank that I was able to meet the VP of a branch and talk with him an hour about my goals and get some advice. Later when I had more money I got close to the business banker at a new branch I moved to and I was in his office once every two weeks... I'd have business there to do wire transfers about that often, but even if I didn't I'd often drop by and lend him a book or he'd lend me a book, things like that.
Heck, you could make the same argument about a French restaurant - they're not really cooking the food nicely to please you, they're doing it as a strategy to keep you coming back. But as long as they serve a good meal, do you care? I say three cheers for good customer service and personal touches if you want it in a certain industry. And banking is definitely an industry that you might want a personal touch with your bank.
You make a good point; and I know I am being a bit "breathy"...
But, I'm not in the US so I couldn't be a customer - anyone that found out about Live Meta must have found that out too.
From a comment on my blog it appears they are just using Google (props to that!). In which case I am guessing they got me via a HN (a HN post is on the first page for searches on my email) and, so, there is a tentative argument that they are pitching for this coverage right here now.
You know what; I don't begrudge them if that really is the case. It's not hard to go from Google to HN to my site and then read about Live Meta but it is still valuable time.
Certainly my current bank, who does know I am worth a "lot" of money to them doesn't go personal in that way. It is all auto generated personalisation.....
I might be unkind, but I'm definitely not wrong. Do you believe any company would, on purpose, do something that will make them lose money? (either on the short or long term)
It's unusual because the vast mass of people's wallets are not worth the effort. Heck, poor scammers from Nigeria have this one figured out. "Dear Sir/Madam"...
I didn't mean to say it's something "not cool". It's just mundane. You got a personalized email because someone in their customer acquisition thought it was worth. Happens all the time.
> You got a personalized email because someone in their customer acquisition thought it was worth. Happens all the time.
Ok, I dislike talking about this but I am actually (and in a way Bank Simple could not know) worth a fair amount.
The companies that do know about this insist on inundating me with "personalised" crap. Im yet to recieve anything as personal as this email - and that is what impressed me. There is at least 5 minutes of effort put into this email.
I think you are being slightly unkind (though I take your point); because they have these interns and, from the responses I got, it appears their job is "take email X, google for email X, find something interesting to talk about, add that to email (or if not found just send mail)".
There is no way I could appear as anything more than a normally interested punter to them - hence the kudos.
I do honestly challenge you to find a company that makes the same effort for their main customer base.
What pisses me off the most about mainstream banks is how they automatically will start sending you all kinds of up selling crap once you reach a threshold of monthly income. No personalization whatsoever, just a barrage of paper junk mail for the same offers over and over again.
As I've said before, I cannot wait for their beta to begin.
They took the time to extensively reply to both of my emails asking them questions and even suggesting a few things. Who knows how sustainable this is, but boy are they hooking users for life; that is, if their product lives up to their service.
First, I don't mean to sound overly negative and only wish the best for Bank Simple.
But really, haven't any of you guys ever dealt with the private banking groups of consumer banks? They'll give you a rep, will bend over backwards for you, and generally kiss your ass.
Bank Simple will not be able to deliver this sort of personalized attention if they succeed in getting a large number of customers. Personal attention is expensive. Run the numbers and you will see why it's simply not possible for 99% of customers.
I, as a member of a small startup that will use banks intrinsically in our everyday agenda, have had multiple email conversations with them. They are real people, ready and willing to discuss how they can help you with life/business/whatever.
Wow, I went back and read my email, and I completely missed the personalized part in mine. I thought it was just a generated email (sorry Bank Simple!).
"Meanwhile, we'd love to hear about your banking experience and what you're looking for in a bank. Given your experience, I'd also love to chat about development."
I'm a developer. That's pretty damn cool. It's so small, but it means so much to me now. You will be my bank. I can't promise a lot of cash in my savings account, but I can promise loyalty. Thanks guys!
They not only send personal e-mails, but go far and beyond. I had coffee with one of the co-founders for no reason other than for them to get to know their clientèle
I would love to hear more about how you started _you_ own social networking site and be updated on its progress.
I read somewhere that it is good to misspell words so it makes it look like a non-form letter. Not sure if I agree with that... but they seemed to have used that strategy even though it wasn't a form letter.
I received the same email, and didn't even notice the personalized language. After reviewing it now though, it says:
Even if you don't want to talk about banking matters, I'd love to hear more about your own start up. (I'm sure that from that you also have some great suggestions for us!)
I earn monthly a good salary for brazilian standards (I'm not riiich, but well above average) and when I was researching a bank to open an account to receive the salary from my current employer, one of the bank's branch manager actually said he wanted to meet with me on my own home, and he would bring bread and coffe.
When someone "actually personalise" an email it just means they thought the time spent doing this will be paid when the sale is closed. In this particular situation, it just means Bank Simple reeeally wants the author as a customer. Now I don't know if the author is rich, or well connected or popular (well, his article is featured here) but it's not that complicated. It's not magic, good will or anything like that.
It's incredible what excite some "geeks" (yes, you, HN reader). Ooooh a personalized email from a bank. Gee... It just meant someone ran the numbers and this might offer a nice ROI.