Finally, my free iPod
There are currently two popular methods to get a free iPod – you can either sell your soul like Jeff Croft (sorry, Jeff ;) ), or win one of Mike Davidson’s contests. I wasn’t really interested in selling my soul, so that was out, and I haven’t really had much time to put together anything creative for Mike D’s contests, and even if I did win, I’m not sure I could take it from him anyway. Enter the bank and my need to set up another bank account. I looked at all of our banks (we only have a handful of banks in Canada) and was deciding where I wanted to do business.
My fellow Canadians – take note. Until mid-August, TD Canada Trust is offering free iPods to people that switch their accounts over to them.
All else being equal
The iPod isn’t the only reason that I switched my account to them – there were a number of other reasons, but in reality there wasn’t much difference between them and the other banks. Ultimately, the iPod is what caught my eye, drew me in, and was just enough to put that bank ahead of the others.
Here in Canada, the iPod shuffle (512MB version) retails for $129. Add in another $10 for shipping, and, all else being equal, it cost them $150 to get me as a customer. A customer who will likely spend $15 a month or more on service charges for many years to come. It becomes a no-brainer – the cost of the iPod becomes trivial the longer I’m with them.
Marketing Tactics
When you look at it, it is really quite obvious, and I wonder “why aren’t more places doing this kind of marketing?” Or is it that they are, but the items that others are giving away aren’t really as appealing as something like an iPod?
I’m very interested in this type of thing – I’m not a marketing consultant/professional per se, but part of everything that we do is marketing. What kinds of things have you seen businesses give away that made you switch, or convinced you to go with them instead of a competitor?
13 Responses
Comment by Scott — Jun 18 2005 @ 8:11 am
I think if I didn’t have so much money tied up in mortgages, credit cards and a multitude of banks I might consider it. I do have a TD card, but it would be a lot of work for little benedit. For younger folk with, for example, one bank account it’s kind of a no-brainer situation. That, and neither my wife or I really need a new iPod (I’ve got a third-gen 40GB and she’s got one of the U2 models).
Comment by mattymcg — Jun 18 2005 @ 8:36 am
I recently signed up for a savings account at ING here in Australia, because they were offering $123 if you signed up for an account before a certain date (sorry, it’s expired). This was for an account that was advertised as “no fees, ever!”
My friend already had an account and confirmed that it was indeed legit, so I signed my wife and I up. And once I received my login details I immediately withdrew the $246 and haven’t logged in again since.
Comment by Jeff Croft — Jun 18 2005 @ 11:27 am
Selling your soul is highly underrated. Give it a try sometime! :)
Comment by Ben Buchanan — Jun 19 2005 @ 8:23 pm
Here in .au this sort of thing is rife in the mobile phone market – commonly games consoles, phones and mp3 players along with your overpriced mobile phone. the overall cost means you’d be far better off getting a better deal on your phone and buying the item yourself, most of the time :) but, if you already want that particular phone then it’s the bonus that makes you choose a specific retailer.
I think your average business just can’t cope with the idea of initial outlay for long-term return. People want returns *now*.
Comment by JODSTER — Jun 22 2005 @ 3:40 pm
The irony of this promotion at TD is that it is not available to the loyal customers that already do all their banking at TD. The ads may as well say, “We’ll entice new customers with a free gift, then take them for granted like all the others…”
I’m just bitter I didn’t get one. I’ve ranted on my own blog already.
Congrats, and keep on shuffling…
Comment by Nico — Jun 23 2005 @ 9:32 am
Heh, I just put this up on my site the other day too.
@ JODSTER, read the fine print. You can transfer your other account to an EXISTING TD account as well.
Now, if you don’t have any other bankings then, I guess you are justified to continue ranting. I would do the same.
Comment by Nico — Jun 23 2005 @ 9:33 am
Oh yeah, and wouldn’t it be funy if Scotia started offering Rio’s…
Comment by Jason — Jun 24 2005 @ 11:51 am
I’m looking at the same TD deal myself. Currently, I have accounts with TD and RBC and, from an internet banking standpoint, I find TD to be much better. Maybe it’s time to drop RBC…
Comment by Eric — Jul 19 2005 @ 6:31 pm
Getting a TD bank account isn’t the only way for Canadians to get a free iPod. If an iPod isn’t enough for you, visiting http://www.freeipods.com could be the answer. They’re giving away real iPods (almost the full range) in exchange for referrals. 5 referrals to be exact.
I started a little blog for people to “share” referrals. It’s just a little experiment to see if the program works and how many people can actually win a free one (many have, and not just in the US). Visit it here.
Comment by Jeff Smith — Jun 18 2005 @ 2:15 am
I’ve been quite tempted by this deal lately as well Derek. I walk by a huge TD sign every morning that is sporting an iPod Shuffle. I’ve already got an iPod mini and the missus has a 1GB shuffle, but seeing as I’m an Apple addict (and a geek as well ;) ) it definitely caught my eye. Not to mention that I’m always shopping around for a better banking arrangement.