The Bankwatch

Tracking the consumer evolution of financial services

People come back to places that send them away

Fascinatingly simple post from Dave here.  He speaks of Google, and how they have made a business out of sending people to the right place/ information/ source. People return to Google because they are a trusted objective source.  Its stickiness by not being sticky.

Scripting News: 12/12/2005

People come back to places that send them away. Memorize that one.

Yahoo doubled their share of the online news market by adopting RSS and sending readers away as fast as they can. Who to? Their competitors, of course.

Now the fundamental law of the Internet seems to be the more you send them away the more they come back. It’s why link-filled blogs do better than introverts. It may seem counter-intuitive — it’s the new intuition, the new way of thinking. The Internet kicks your ass until you get it. It’s called linking and it works.

This gets to the very core of internet, and is almost spiritual in its simplicity.  How can Banks deal with that?  Well for starters, they could provide the links to the right information for moving, insurance, legal, accountants, home repairs, car purchases etc.  All these things need money, and its in banks’ best interests to help customers find those things that will improve their overall position.  Its a win for the bank and a win for the customer.

Relevance to Bankwatch:
There is an opening for a bank or banks to trusted source for links. Send your customers away and they will return.

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Written by Colin Henderson

July 9, 2006 at 15:08

2 Responses

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  1. […] These are powerful concepts, that are now beginning to be manifested.  Take Dave Winers post, referenced here, about sending people away to have them return.  This is societal changing stuff. The old world was run by extroverts who operate along the lines of trad girl above.  The new world the introvert is king, and quietly gets things done.  Its hard for firms who are used to the old way to keep up with the new way, because they have to immerse themselves in the web, and the tools, to truly appreciate the change thats going on here.  As extroverts run many old style companies, this partly explains why it takes longer to figure this stuff out.  […]

  2. […] Google direct users to the best answer to their enquiry.  The use the “people return to places that send them away” method.  Advertising is subtly presented in the Google properties that send you away. Of the more than 5 billion online searches Americans conducted in December 2005, 49 percent were entered on Google, according to measurement firm Nielsen/NetRatings. Google’s share of total search activity rose 6 percent from a year ago. (Yahoo 21%/ MSN 11%) […]


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