Priorities - 53% is More Than a Third

Here's an article on ITBusiness.ca discussing how banks need to add Web tools to attract younger consumers.

First of all: "Well, duh."

Second: Okay, it's not really an article. More like a Microsoft and BMO (Bank Montreal Of) press release discussing the findings of a Microsoft sponsored study.

Third: Something bugs me about this line:

"When choosing a new bank, one-third of millennials cite online services as important. That's second only to competitive rates and fees, at 53 per cent."

As a Web guy, I appreciate the long-overdue attention that online tools are getting. But, as a marketing guy, I can't help but wonder if this is enough, based on the above numbers. Unless the banks improve their fees and interest rates, all the fancy widgets, site features, instant messaging, twittering, etc. won't do a thing to help them. (At least for as long as competitors are offering those better fees and rates).

Fix your product, not just your communications.