OK, so to most of us the words “love” and “bank” don’t seem to go together, but when ATB Financial decided to research the emotions people had about their financial institutions, it asked them to write either a love letter or a break-up letter to their bank.
Today’s guests, Tawnya Crerar, Director of Client and Marketing Research at ATB Financial, and Anne Coulter, Managing Director, RSG, set out to explore the psychoanalytics underlying how people feel about their banks. The letters they got were surprisingly touching and emotional, telling bad stories but also lovely ones.
In this episode, which was recorded after Crerar and Coulter gave a presentation on the research to the Marketing Research and Intelligence Association (MRIA), we discuss:
- what psychoanalytics are
- how they used them
- the use of a simulation tool to help bank colleagues understand the impact of their actions on growing the bank’s customer base
- the trade-off between attracting new customers and retaining existing ones (and the clever balance they found)
- how ATB has changed its hiring and on-boarding processes to ensure that new hires fit into the customer-centric culture they are building
In a later episode you’ll get to hear their CEO’s perspective. If you want to make sure you don’t miss that one, sign up for the Frank Ideas newsletter, so you’ll always be alerted when a new episode comes out. Just put your email address in the box below.