Overdraft fees are now a
bigger concern to the checking marketplace than free checking. As the Pew Study shows, 70% of consumers
report they are “very concerned” about overdraft fees, even if they do not ever
overdraw their account.
At the same time, “free
checking,” a historical strong marketing phrase, has lost meaning to the
consumer with all the noise about hidden fees.
The power of marketing “no overdraft fees ever” today is shown the
Google word search analysis below. “Overdraft”
is searched now more than “Free Checking,” has less competitive conflict and is
about one-tenth of the ad word cost!
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