CHICAGO – Credit unions which wish to innovate to sharpen their competitive edge should first take a clear eyed and honest assessment of themselves, urged a marketing executive responsible for some of the best known and most successful adverting campaigns.
While at Home Depot, John Costello helped develop the national ad campaign for the home supply store of “you can do, we can help.”
Now as chief global marketing and innovation officer at Dunkin’ Donuts, Costello has helped develop the “America Runs on Dunkin’” campai
“Ask yourself the questions you hope that no one else ever asks you,” Costello said Tuesday in his session at the THINK 2013 conference in Chicago.
He pointed to brands like Cadillac, Chrysler and Domino’s Pizza which, he pointed out, had turned the spotlight on their own operations that had lost track of their connections with customers.
“Think how hard that must have been,” he asked, “to both recognize that your product is not good and to admit that as part of a national campaign.” Costello noted, referring to Domino’s national campaign which recognized the product's failings and invited consumers to try again.
This self-examination and authenticity are key today, he pointed out in a question-and- answer period afterwards, because they are also among the foundations of social media.
He described how Dunkin’ Donut executives often receive email directly from consumers and told how their rapid response turns what often started as a complaint into a positive experience.
“Consumers know that companies or credit unions aren't perfect and they are looking for perfect. They want to know if you are listening and responding,” Costello said.
He also likened credit unions in the local financial service market to Dunkin’ Donuts franchises in that people like working with local institutions where they are known over large brands that might be remote.
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- The Great Change Debate
- THINK 13 on Wednesday: Slide Show
- Starring on Google+
- Mayor Booker Keynotes on Change
- Innovation That Maintains Identity
- Innovation Needs Controls
- THINK 13 on Tuesday: Slide Show
- Leaders Should Talk Last
- CO-OP Rebrands ATM, Branching Networks
- Chicago Confab Kicks Off