This is one youtube video that blew my mind! The sheer audacity of this bank’s move is sure to make them a business to remember forever.
TD Bank in Canada launched a campaign to thank its customers by giving them money, (yes, in the form of $20 handouts), favourite t-shirts, air tickets and even a college fund!
Watch the video here:
Are they crazy? Are they too rich?
I don’t think so. In business terms, it is a differentiating move. In Gazelles International coaching terms, it is a Winning Move. What are Winning Moves?
They are things that your competitor would never do, but your customer will love you to death for it. It is also something that deals with what your customer hates, turning it into something they did not expect but totally love. Beneath the gimicky moves of handing out money and gifts, what really happened is a bank that says, “Hey, you are not a digit for me to squeeze money from. You are more important than me and I recognize that. Your needs are important to me, and I stand with you.” i love the part where the lady gets to go see her daughter (spoiler alert).
It connects on a very human level of wanting to be appreciated and treated like a…human being. Everyone who has been to a bank, and who has been following the news over the last 6-7 years knows how banks really view their customers – like cows to be milked.
So gimicky or not, marketing ploy or not, what matters is it connects. It differentiates TD bank from its competitors by doing something their competitors hate to do. Banks take money; they don’t give money.
A nice winning move – heartwarming too. And millions of views as the video went viral.
Good strategy differentiates businesses. Do you have a Winning Move up your sleeve? Remember, it must be something your customer really wants but your competitor hates to do. Winning Moves are dangerous, but they will make your business GREAT.