HDFC’s new style – Convex marketing

Convex marketing is the art of looking at things through a magnifying glass. If you haven’t bumped into the term already, don’t worry. I just made it up! πŸ™‚

Marketing is in a way by default looking at positive aspects and highlighting them big time to impress customers. And, looks like HDFC is doing it a little more than obvious.Here are a few instances I’m referring to:

  • The 40% faster ATMs: If anyone already does not know, HDFC offers an option to ‘set favorite’ amount to withdraw using their debit card. If you want to withdraw the set amount, its just one selection after entering the PIN and the transaction is complete; the cash and card come out and you’re on your way. It’s an option some may find useful no doubt about it. I wonder who would want to withdraw same amount most of the times though- I withdraw different amount all the time, but it could just be me.

    I like few options like this to be available for convenience but am sure I wouldn’t want to switch banks for little convenience features. It’s good to advertise the feature once in a while like an ‘awareness’ concept to existing customers. But HDFC is running a complete series of ads with weird acts that make me think if that’s what all they’ve got. We have many features with ICICI net banking and if they have to do like HDFC’s marketing, their team needs be doubled.

    By the way, as I don’t withdraw the set amount every time, that’s an extra step to skip it and go to the normal workflow- so it’s like 20% slower ATM for me, all the time! πŸ™

  • Convenience of Online Utility Bill Payment using HDFC Bank Credit Card: One of the recent monthly marketing emails had this subject line which made me look into it for details. I’ve tried with ICICI when my Salary Account was it and I liked the option of receiving alerts within the net banking site and select the ones to pay, or all the more convenient, set to automatically pay bills a day or two days before the due date.

    Wow! I opened the email and spent a few minutes skimming through the contents. Towards the end, I got what I was looking for!

    “At HDFC Bank, we are here to make sure you don’t have to waste your time standing in long queues to pay your utility bills by bringing you more convenience and security to your doorstep. Now use your HDFC Bank Credit Card for easy and hassle-free online bill payments.”

    So, go ahead! Take advantage of this great service and make your bill payments online.”

    I clicked on the links like electricity, DTH, Telecom, Insurance etc. and guess where I was taken? To a list of respective providers (not even all companies were listed in that category) and the URL of their respective websites. πŸ˜€ I look at the email once in a while and still wonder what the point is πŸ™‚

2 Replies to “HDFC’s new style – Convex marketing”

  1. That’s the problem. With that apparent innovation my transactions are 20% slower now. That doesn’t hurt as much as the series of ads and promotions do.

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