Listening

I've been reading "Groundswell," a fascinating analysis and series of case studies that describe how "social technologies" are transforming the world. I haven't finished this book, but an article in this morning's American Banker caught my attention. Apparently someone at PNC Bank has been paying attention to social technologies as well.

PNC has begun offering a new account designed for Generation Y - based, they say, on listening to how people in that generation handle money. PNC must have spent quite a bit of time and money to create this account (actually three online accounts that are linked). Frankly, it looks to me like they did well.

Personally, I like dealing with smaller community banks. Unfortunately, most of those banks are limited by economics to using technology provided by third-party vendors who are reactive and generally slow to offer real innovation. Fortunately, the web offers the possibility of opportunities to communicate with customers and potential customers in ways that were impossible in the past. Listening - and responding - are two ways that can be used to reach segments of the market.