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The Bank Blitz Memo: Heard on the Tweet
It’s hard to learn new things when you already know what you know. You know?

David Martin
Posted 04/24/2009
Chief Training Consultant,
NCBS
instorebank@yahoo.com; info@bankstocks.com

I made a decision recently that had me recalling the George Costanza character on Seinfeld.  In one episode, George decides that he may be better served if he listened to his instincts and then did just the opposite.

While I don’t plan to make that a long-term strategy, I found myself toying with that logic when considering “Twitter.”  Typically, I’m not an early (or even a later-than-early) adopter of new technology.  If they still made rotary-dial phones, I’d probably own one.

And then the buzz began about “Twitter.”  People began asking me if I was “on Twitter.”  My knee-jerk response, of course, was, “No thanks.”        

The more I read about Twitter, the more determined I was that it was a waste of time.           No way was I going to “follow” people.  That sounded, well, weird.  And “tweet”?  Just couldn’t see myself “tweeting.”  Heck, I’m a guy.

Practically all of my friends and colleagues felt the same way.  An editor friend of mine only half-jokingly pleaded with me to join him in fighting against the tsunami that was Twitter.           

And then a few things dawned on me.  Early in my career, I spent a good part of my time convincing folks in the banking industry that those “quaint” little branches inside grocery stores held more potential than they realized.

Since then, I’ve lost count of how many senior managers I’ve encountered that had a laundry list in their heads about why in-store branches couldn’t work.  They didn’t actually know very much about in-store branches, except that they were against them.  Nor had they spent much time considering them unless it was with like-minded peers who agreed that in-store branches were untenable.

I would often explain the strategies and give examples of how many banks have found in-store branches to be high-producing operations and a competitive advantage in their markets.  I also tried to get them to look beyond what these branches “didn’t offer”, (drive-up windows and safety deposit boxes were favorites), and consider some of the unique opportunities (thousands of face-to-face customer contacts each week) that they did provide.

I also explained the positive cultural changes and new best practices that many banks developed in their in-store locations and found applicable to their entire network.

As often as not, the conversation was over before it began.  Bank branches were the way they were and where they were for a reason! 

It dawned on me that I might be becoming one of “those guys.”  Of course, I once doubted that email would ever be all that important to conducting business.  And I did think that pay-at-the-pump gas stations were lunacy when they first appeared.  So, my track record on trend spotting is, er… spotty.

But when I realized that my peers and I were apparently “smarter” than the millions of people making things like Twitter a part of their personal and work lives (For instance, the first photos of the US Airways plane that landed in the Hudson River were seen on Twitter http://twitpic.com/135xa, not the news networks.), I had my “Costanza moment.” 

So, I stuck my toe in the water.  Appropriately, I think, I signed up for the address http://www.twitter.com/instorebank

After a few minutes, and to my surprise, I found myself thinking, “Okay, now I get it.”  It has a clean look and is exceedingly simple to use.   And it’s hard to beat the price – free.

Once I decided that I was going to jump in, I sent my email distribution list a note saying what I was doing, and if they were so inclined, they could check it out.  The responses were funny and telling.           

I could practically guess the age range of respondents by the reaction.  The 30-and-under crowd gave me too much credit for being “cutting edge.” (I’m not.) Some of my older friends wondered if I was going into politics or starting a rock band.  (I’m not.)

One friend emailed that he looked forward to finding out what I had for breakfast each morning.  I laughed reading that, knowing that guys like him (and me) were focused almost exclusively on the triviality of the tool and not on the cooler possibilities.  As it turns out, and to my surprise, you are not required to report every meal you eat.  (Although I’m sure some do.) 

You also don’t have to “follow” people or even sign up for Twitter.  If you like someone’s posts, you can simply bookmark the page like any other website.  I’m not sure whether or not it’s something I see myself personally using for years to come.  But I can see why it is changing how many folks communicate both personally and professionally. 

Giving it a spin has helped to put a few ideas in my head that likely wouldn’t have occurred otherwise.  In the end, that in itself has made it worth the effort.

The next time you and your inner-circle are all in agreement that you’re wiser than the crowds, well, maybe you indeed are.  But beware of unknowingly becoming more insulated than you realize. 

You just may want to consider listening to your inner-Costanza every now and then just to make sure.

What do you think? Let me know!


  Add your comment

 

 

KC Kid Posted On 4/24/2009 11:27:49 AM

David, You have a wonderfully witty writing style filled with thought-provoking lines that should make us all think twice about being overly confident. --------- You are an excellent addition to this site. ---- KC Kid

Joe V Posted On 4/24/2009 11:35:18 AM

I'm following U! There are 21 of us now.

Eric Posted On 4/24/2009 11:38:34 AM

You make an interesting observation. I believe Twitter will soon move beyond a means of communicating interesting tidbits of breakfast details and breaking news and become a significant source of real-time market information such as product pricing and competitive service offerings. This is yet another step in technology evolution that will take decades. These ever advancing tools will continue to drive down the fixed cost structures of many current businesses. This will not only lower the barriers to entry, but also will deliver larger margins to those industries, and dare I say individuals, who adopt these improvements sooner rather than later. In a deflationary environment, this is a mandatory requirement. Why am I so confident about this theory? I work at a large bank and we are denied access to Twitter.

Alfred M. King Posted On 4/24/2009 12:04:35 PM

You are very persuasive, but at age 75, I have to say, "Thanks, but no thanks" I do think that for the computer-literate crowd under say 50, Twitter makes good sense. But there are only so many hours and days left in my lifetime, and I really have no desire to invest a very precious resource reading other people's breakfast menus, or whatever they post.

Elmer Rich III Posted On 4/24/2009 1:47:14 PM

David, I passed this column on with my tweet post http://twitter.com/ElmerRichIII/status/1605604224. There are lots of cool tools you'll discover as well. Happy tweeting!

Tad Gage Posted On 4/24/2009 2:14:16 PM

An interesting post, David. Frankly, I think we're pushing the limits of good info and TMI (too much information). I've been an online maven since the early 90s. I met my wife of 12 years online in 1995, so I'm not some old grumpy butt about online opportunities. I reluctantly use Facebook for certain focused tasks and communications. Now there are news stories about Facebook addicts (not even going there with MySpace!) who don't get their work done because they're spending so much time posting about what they're doing/thinking now that they're not getting anything done (talk about irony). I'm already tired of the folks on CNN plugging Twitter and asking you to Tweet them. It feels like an endless cocktail party where everyone offers opinions of questionable value, which nobody remembers in the morning when they're sober. The problem is these venues turn us all into the equivalent of 49ers panning for gold. How many tons of dirt and crud should you spend time sifting to find one tiny nugget worth a silver dollar or two? And since you can't filter the meaningful from the useless, is it worth the expenditure of time? As Nancy Giles on CBS Sunday Morning said in her commentary a few weeks ago about her resistance to Twitter, "if I spent a lot of time Tweeting, doesn't that make me a twit?" ROTFL.

sgr Posted On 4/24/2009 3:01:48 PM

Sure, it can be abused. But come on. The people who are "wasting their days" on FaceBook and Twitter would be doing that regardless of the tools. Remember when everyone had solitaire on their computer? And sure, there's always going to be a lot of junk out there. But Spam hasn't made email any less useful. There is a reason some blogs and commentators build an audience. They provide something (insight, humor, etc.) that is worth a minute or two to keep up with. I do agree, however, that the non-stop Twitter promotion on CNN, FOX, MSNBC, etc. is wearing thin.

surfsalterpath Posted On 4/24/2009 3:30:56 PM

...cool beans.

Coach Posted On 4/24/2009 4:27:57 PM

Cantstandya.

ohiojoe Posted On 4/24/2009 4:32:13 PM

Hey surfsalterpath Haven't heard "cool beans" in 20+ yrs.. FAR OUT!

I'm Not Jim Cramer Posted On 4/26/2009 4:15:44 AM

I do think, that we following a trend whereby as a nation, we comment more than we do. Look at this post of mine. What possible earthly use does it do anyone, rather than seeing my own words in print?

tompain Posted On 4/27/2009 2:33:46 PM

Fascinating. Not.
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