In these recessionary times, necessitated by the sharp cuts in the marketing and advertising spends, the focus seems to be back on customer relations and customer support, more so in the service industry where both these factors are also crucial differentiators.
Here's an example of how ICICI bank is trying to engage its customers by ingeniously designing a forum appropriately named as 'MILAP'. It is also noteworthy that although my account is with ICICI bank in Bangalore, I have been invited for the meet in New Delhi, to a branch closest to my mailing address. This implies that they have got their segmentation of the audience right. (On second thoughts, I wonder if my bank statements are mailed to me from Bangalore or Delhi!). The initiative is commendable for its innovative approach, and cost-effective promotion (through mass-mailers) and execution (high-tea session at the bank premises). However, the invite, though appealing due to its simplicity and conciseness, fails to convince me to attend the forum; it doesn't make me feel that either 'my opinion' counts or 'I' will benefit in any way. I would also appreciate if it wasn't preposterously signed by a biggie, the head of Retail Branch Banking, instead signed by the local branch manager who will actually address and participate in the forum.
- Namrta Batra
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