Open but the safe is shut

A Barclays branch had its entrance bricked up by a property developer who built an 8ft by 4ft wall of breeze blocks, in protest at banks' unwillingness to lend to his business. Cameron Hope, who was eventually forced by police to remove the wall at the Barclays branch in Bournemouth, explained that he 'blocked the doorway as a way of saying that the banks are open but the safe is shut'.

Wise words from First Direct

First Direct CEO, Matt Colebrook, has warned that banks cannot ignore the growth of the social web and should instead embrace it as a means of connecting with customers. Mr Colebrook stated that social networks and smartphones have given customers the opportunity to express their complaints about organisations, which in turn can be used by banks to fashion products and services.

Visa v China

Visa has been blocked from starting any new business within China for a year, in a move which has promoted the US Trade Representative to file a case against the country with the World Trade Organisation. The ban stems from a disagreement with China UnionPay, which ignored Visa's request to stop processing international transactions for co-branded cards through its own payment system rather than Visa's.

Barclays agency appointment

Barclays has appointed EHS 4D to handle its consumer-facing direct marketing business. EHS 4D will be responsible for overseeing Barclays' retail work, which is currently handled by agencies on a project basis.

Marketing Strategy must align with Coporate Vision

Marketers must align marketing strategy with their company’s corporate vision or risk losing out on future investment, according to new research.

The warning comes in the Measurement and Accountability in Marketing report produced by the Chartered Institute of Marketing (CIM) and consultants Deloitte, which found that only 37% of companies believe their marketing objectives are grounded in the broader aims of the business.

Deloitte director of marketing effectiveness Nick Turner says marketers are not providing measurements that allow their companies to assess the return on marketing investment effectively.

“We are perplexed how organisations that are holding out for marketing to drive their growth agenda are not consistently seeing marketing measures at board level.”

Marketers are instead measuring what is easy, not what is important, the report says, with only 7% setting clear key performance indicators (KPIs) for each marketing initiative.

Only 10% have consistent metrics in place to identify long-term trends, while 7% have clear policies for accountability in meeting marketing objectives.

Some marketers also select metrics with an eye on self-preservation as well as the business benefits, Turner adds.

“There is a propensity for some marketers to select KPIs that best put forward the case for a particular given activity, as opposed to being upfront in the way that those objectives are being set.”

The report recommends that marketers develop measurements with a focus on customer experience, as well as clear policies on accountability.

In doing so, it argues, the value of marketing can be demonstrated through aspects such as customer retention.

Deloitte and the CIM polled 172 senior executives at a mix of public and private organisations earlier this year.

Hindu Festivals

World Gold Council has reported that the price of gold reached a record high on 14 September 2010, with both the price of the metal and the purchase price increasing more than 2% to $1,274.75 an ounce. An ANZ analyst attributed the rise - the commodity's largest one-day gain in four months - to people's continuing 'fear', as well as demand rising ahead of the seasonal Indian wedding and Hindu festival periods. Its price has risen 16% in 2010.

From Greenbee to John Lewis

John Lewis is to bring the general insurance products offered by its sister company, Greenbee, under its own brand, and is promising that they will vie to be the most comprehensive - rather than the cheapest - policies on the market. Policies will come with clearly-worded guides to make holders aware of exclusion clauses. Extras offered with its motor cover will include £50,000 protection against vehicle identity theft, as well as cover for filling up with the wrong fuel.