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The Zecco Inside Scoop

Zecco Needs Your Help...

Since we launched a year-and-a-half ago Zecco has pushed the envelope on the marketing front. We don’t have a fortune to spend on advertising like some of our competitors (we’d rather give you free stock trades—10 a month, $4.50 thereafter) so we’ve had to come up with some cool, stand-out ideas to call attention to our brand. Necessity breeds invention. In true Zecco fashion, we’d like to leverage our users’ collective wisdom to help us create the next generation of campaigns that will make every dollar work like ten. Read on, and chip in.

Shortly before we launched, one of our competitors got wind and dismissed our free stock trading vision by saying “There’s no such thing as a free lunch.” To prove them wrong, we bought out every hotdog vendor on Wall Street and served all those old-school brokers a free hot lunch on our launch day. They happily wolfed down our dogs, and the stunt was picked up on CNBC and other news outlets. 

Zecco free stock trades on CNBC

 

At the same time, we staged street protests against high broker fees at the Charging Bull statue in New York. Students marched wearing signs that read, “Question Authority and Your Broker” and “Trading Fees are Bull.” The press and the people loved it.

Zecco free stock trades picket people

 

Since then, we’ve run our “Make Love, Not Commissions” ads on Valentine’s Day, and we’re currently running a “Holy Shi…” campaign in Chicago, San Francisco, and New York that’s generating a lot of buzz. We also produced a funny video poking fun at one of our competitors, but the lawyers made us stop running it.

holyshi banner


Now here’s where you come in.  


First, we want to get a gauge on “how far is too far?”  That is, how far can we push the envelope to break through the clutter without turning our current and potential customers off. We want to have fun, but don’t want to be offensive. Check out the following mock up. We’re having a little internal debate about it. Let me know if you think we should run with it or toss it. Is it going too far?

undy

 

Second, here’s your opportunity to help us come up with the next big idea that’s going to help us break out from the pack. Throw them to me! As you can see, we’re game for an awful lot. Post your ideas here, or if you have a hand drawn sketch or image you can’t post here send me a private message.  Thanks in advance!

Published Wednesday, June 04, 2008 9:39 PM by Jeroen Veth - CEO
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Comments

 

jkdmantix08 said:

Improve customer service will solve most of the problems. I must say u guys are improving but there are more has be done.
June 4, 2008 7:39 PM
 

jeffster32 said:

I think a little too much "p***-azz" for the new idea. I myself would draw the line at near-nakedness just because of the bad stigma that could result or be in relation. But that's just my two pieces, so take it for what it is.

Jeff D (user jsdvs9172)

June 4, 2008 7:42 PM
 

DrSB892 said:

You just give 10 free trades and we customers could not do anything about it! So how do we challenge you the broker (like you are advising to cahllenge) to give back what we had. We do not need/want any of what you provided in exchange. GIVE BACK our 40 trades. Then we will think you words and ads above mean something. Otherwise they are just words ....
June 4, 2008 8:07 PM
 

xinstar said:

We need a better customer service, better website, better response and trading center. Thanks
June 4, 2008 8:15 PM
 

maybe4less said:

I think that ad is probably going too far.
June 4, 2008 8:25 PM
 

danielmcduffie said:

Better and up to date market information, trading analysis tools, and some expert recommendations on stocks and moving sectors could do a lot to attract customers like me that are new to trading.  Ten free trades a month and no inactivity fees is what brought me to Zecco.  Unfortunaely, I feel I have to do my market research at other sites.  As for advertising, I would keep it clean, simple, and brief.  I got the message when I saw the add for 10 free trades a month and no inactivity fees.  Anyone who is trading gets this message loud and clear.
June 4, 2008 8:32 PM
 

smallswope said:

Well I like the idea for the semi-nude ad but I wouldn't use that one because it's just not a very good ad.  I don't mind pushing the envelope but use artists as well as marketers so that the ad is actually compelling.

As far as the problems others say they have, this post was about advertising, right?  Not site usability or perceived slights.
June 4, 2008 9:25 PM
 

quig69 said:

I think from what I can tell is you started with free trades period, then limited them to 10 per month has put people off. I wish I had started here earlier. I can understand the need to limit the number of free trades but 10 per month vs what you used to offer is too low. Maybe up it to 15 to 20. Selling yourself on free trades and then saying its only 10 has only caused bad feelings and hurt your overall image.

As far as the advertising goes, mabye have people in the streets of more major cities to create more buzz.
June 4, 2008 9:32 PM
 

Jeroen Veth - CEO said:

Jeffster32 -

Can too much be a bad thing?  Zecco definitely wants to toe the line, but not cross it.  What other ideas to people have for our ads?

Thanks for the great feedback!
June 4, 2008 9:41 PM
 

holidayfunding said:

As a former TD Ameritrade customer I love your company. This is not the company for the poster who wanted "Better and up to date market information, trading analysis tools, and some expert recommendations on stocks". You can find that for free on the web. I feel your company is great for intermediate to advanced traders who have no use for "expert" adivce and simply want a basic trading platform. $5 a trade is half of what Ameritrade was charging and free is even better. Keep up the good work.
June 4, 2008 10:27 PM
 

emobrien said:

I love Zecco and I think it has a lot of potential to attract people who are brand new to investing. I think this ad would be great on MySpace.com or Facebook.com or other sites that attract a younger, less conservative demographic, who are into pushing the envelope. I have been thrilled at the increased Zecco advertising on cnn.com and yahoo.com's financal pages, but I don't think this ad will be effective there.
June 4, 2008 11:04 PM
 

Mango said:

About advertising and spreading the word...I second smallswope and emobrien's views. I'm very happy to see zecco on major financial news pages and I think you need more of them. You could probably benefit from getting exposure on widely read article sites such as TheMotleyFool, Seeking Alpha and Marketwire. It is quite common to see charts there comparing major brokerages and it is quite rare to see zecco on them.

The above ad is not suitable for these sites. It definitely could be suitable for social networking sites but it is too rough and needs some marketer designing mojo mixed in for polish. The number one concern someone would generally have about zecco is wondering if it is legitimate, how you can offer something for free, and if so, what the catch is. That's just human nature. So...in my opinion, you need very professional designs to establish trust.

Ah and before I forget. Mint.com and Fool.com have recently formed some form of partnership. Zecco's philosophy seems like a good fit with both of these sites' philosophies and their average clients from what I’ve seen.
June 4, 2008 11:33 PM
 

MC Moore$ said:

I second Jeroen's response.  Zecco thanks everyone for their feedback.  Out of curiosity, what ads from other sites (financial services or otherwise) do strike a chord for you?  Please insert a hyperlink if you find something you really like!  

Thanks - John
ZeccoShare Community MC
June 5, 2008 2:26 AM
 

.Andy. said:

Ahahah ha, very interesting. I like what emobrien said, good on myspace and facebook... the younger demographic. I also imagine those of you from the nederlands this may be great over in western europe. I traveled to Italy and France last year and this type of stuff was very widely accept.

Don't hate me, I love America. But us Americans have a problem with too much sensitivity and this would be crossing the line here in America in the majority of Americans and may get you media attention for the wrong reasons.

I'll be shooting you an e-mail here within the next week.
June 5, 2008 3:50 AM
 

sbarnatan said:

people get atracted to bussinesses for their performance.
mouth to mouth reference is the best marketing!!!
start haveing a normal FAST website, and a GOOD customer service, and your customers will double in less than a year!
June 5, 2008 6:17 AM
 

LetsGoHawks said:

I think the ads are just cheesy.
June 5, 2008 7:19 AM
 

Bryan K said:

I like the etrade baby.  They are the best ads on TV hands down, especially the "clowns are freaky" one.
June 5, 2008 7:19 AM
 

gchron said:

You got me to move my account here by offering 40 free trades then you took 30 of them away (ever heard of bait n switch?) What you offered in return was some worthless crap. You should have grandfathered your original customers at the 40 trade level. Of coarse, this is not even mentioning the fees you are imposing every time we turn around. GIVE ME BACK MY 40 TRADES as you originally promised.
June 5, 2008 7:52 AM
 

stevelack said:

I think the ad is great and Zecco is doing a great job.
June 5, 2008 8:05 AM
 

dsavla1818 said:

After hours trading is must in such market conditions!
June 5, 2008 9:45 AM
 

CheapoGroovo said:

I wouldn't mind getting a little cash for blogging about you
June 5, 2008 9:48 AM
 

berube27 said:

the underwear thing... nah... not good.

June 5, 2008 9:55 AM
 

Schmoof said:

Drop the $2500 minimum to get ANY free trades! That should help
bring in those starting out then you can work to make them
long-term customers.

And yes, like stated above, you should have grandfathered in
those of us who got lured in by the 40 free trades without a
minimum balance.

Those (formerly free) 40 stock trades now cost either $135 or
$180 (above/below $2500 balance), what are you giving us for
that money? Not much that I didn't have before. There are
some nice new tools (GainsKeeper) but that is another $50
each year.
June 5, 2008 10:53 AM
 

xinstar said:

Where can I get that underwear?? lol
June 5, 2008 11:30 AM
 

iLikePie said:

I agree w/ Schmoof, drop the $2500 minimum.

The tools that zecco offers are tools that every trading site
should have.

The only free tool out there seems to be a wash sale tool at zeccoPal.com
June 5, 2008 11:36 AM
 

elcopone said:

Not a fan of the ad.  Your going to turn off the men by having to look at a male in tighty wighties.  Add that with the pink, and well, you have sexual identity problem.  

I was lured to Zecco by the free trades and community.  I think the organization of the Zecco website needs to be rethought so that members can easily find and then capitalize on the valuable information in the community.  Think stockpikr, CAPS, but better because of the real trading data and the ability to trade.  The way you need to toggle between trading, community, and reasearch is not well thought out.  Each should be intergrated within each other so that you can have a home page that combines the three.  Additionally, work on site performance.  

Don't like gainskeeper.  I simple performance tool would be appreciated.  Gainskeeper is overly complicated and I have found it not even to be accurate.

Expand the options (ie div reinvest, mutuals, after-hours, rss feeds, facebook modules, currency, over-seas, bank account).  This way you have absolutely no reason to stay with an etrade.  

Finally, in terms of marketing.  Instead of gimicks, I would illustrate the value of ten free trades a month.  Do a comparison between Zecco, etrade, etc of the same portfolio over time and illustrate how the money you save really adds up.  Maybe do it through an instructional video series on youtube.  Also I think Zecco needs a catchy tagline as well as a logo that's more creative than an IM box.  I mean, what is this, the late 90's?  I think if you stay free, add features and performance, the word of mouth will work it's way.  If you have a great product, you don't need marketing (when's the last time you saw a Google ad?).            
June 5, 2008 11:38 AM
 

rats13fan said:

   Nice job, push the envelope, no matter what the majority may feel, the bottom line is, any press is good press. Way to draw attention to Zecco,great job.
June 5, 2008 12:11 PM
 

ztiwrehcj said:

Make analogies on billboards, tv, magazines. Picture of a  supermodel... 0% chance (of a date etc)----0 commission costs. Only at Zecco.com. Video of man trapped in traffic.....0% chance of movement ----0 commission costs. Etc. Supermodel idea is better.
June 5, 2008 12:12 PM
 

akhan said:

A mobile trading platform would be great.  This was one of my major issues moving my brokerage to Zecco (although after paying $12 for trades, I moved anyway)

Adding support for after hours trading would make Zecco more competitive with the larger brokerage companies.  Then the free trades blows everyone else out of the water.
June 5, 2008 12:33 PM
 

akhan said:

Also, offering something like Quotestream free with the account would make Zecco more competitive with low-cost brokerages like thinkorswim.
June 5, 2008 12:34 PM
 

jkdmantix08 said:

We need zecco car sticks. We need zecco car sticks. We need zecco car sticks. We need zecco car sticks. We need zecco car sticks. We need zecco car sticks. We need zecco car sticks. We need zecco car sticks. We need zecco car sticks. We need zecco car sticks.
June 5, 2008 12:36 PM
 

jkdmantix08 said:

We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers. We need zecco car stickers.
June 5, 2008 12:37 PM
 

Schmoof said:

I would also add drips and fractional shares as being
something you can add to increase value.

As to the ad.. I'll leave that to the pros but I will
say the panty shot wouldn't bring me in... unless you
get a free model with every new account!
June 5, 2008 12:54 PM
 

billm950 said:

It would be nice to have fractional shares for the dividend re-invest instead of whole  shares.

June 5, 2008 1:39 PM
 

verano said:

I SECOND fractional shares! There are a lot of companies I would love to get in my portfolio but can't pay for full shares everytime.
June 5, 2008 2:46 PM
 

memsdendrite said:

Price alerts via text messaging and email.  I dream of this.
Also, list the bid and ask size on the quote page in trading platform.
June 5, 2008 3:15 PM
 

xinstar said:

How about a free T-shrit for all Zecco account holders?
June 5, 2008 3:21 PM
 

surfkw said:

I love most of the marketing campaigns but am going to have to pass on the 'more bang for you buck' ads.  I don't really want to stare at a dudes package thanks.  I came to zecco because of the free trades, although I wasn't sure if I trusted it at first but it was free trades that piqued my curiosity and led me to read comments in the forum.  of course the first comments i read where about how long it took to access your money blah blah blah.  I never actually funded by account until the ACH transfer was enabled and then I decided to play.  I would suggest more visibility, and, if funding is tight push grassroots.  Maybe send every new member who funds their account with the 2500 bucks a hot pink zecco t-shirt (as has been suggested).  Another simple solution, make an application for facebook that displays your trades (much like the community here) that is zecco branded.  Push what you are good at, free trades.  By the way, I live in S.F. and haven't seen the 'Holy Shi...' ad but I like the idea.
June 5, 2008 3:57 PM
 

Ol Doc White said:

Interesting, so now you want help from us?  Well at least you know where to go for valuable untapped resources.  I'll pretend you'll do us right if I freely give you the insight you desire.  1st the panty/brief "more bang for your buck" ad:  Very creative indeed but not in tune with the times.  Mind you sex does sell but you don't mix sex & finance, it's like a smoldering cigarette next to a can of gas.  How about a Star Wars themed: One scene wookies/ewoks shooting lasers in woods, another animated war going on in space between big starships, cut to another of R2D2/CP3O worried and aksing what are they going to do if the jedi lose the battle, lastly cut to Storm Troopers w/lasors fighting Jedi knights.   Finally they all stop when they hear this music (the Zecco jingle) then Darth Vadar breathing sounds then voice, "you will not escape us now Zecco scum. You will bow down to our high trade costs and give in in to our dark commission side".  Then freeze, w/notice To Be Continued, announcer states will you give in to the demands of those "other" brokerages or fight for freedom w/Zecco.com?  You could then have a series of these all produced at the same time (cuts cost) and aired at different times.
There how's that? I have several others you might enjoy as well.
June 5, 2008 4:33 PM
 

corbinpalms said:

I think that ad is too much also....  I rather think of something
aimed at getting the investor with a smaller trading account to
join zecco.... that's exactly why I joined...

I'd like zecco to go for a classier ad and not neccessarily the
shock value...

Corbin Palms
June 5, 2008 4:46 PM
 

corbinpalms said:

I think that ad is too much also....  I rather think of something
aimed at getting the investor with a smaller trading account to
join zecco.... that's exactly why I joined...

I'd like zecco to go for a classier ad and not neccessarily the
shock value...

Corbin Palms
aka Kim Seiniger
June 5, 2008 4:47 PM
 

Wynn said:

Great JOB!! Anything new is always progressive.

Take your time, don't rush and make it work!!.

By the way, is there a Zecco fund?!?

I'll be glad to help out with anything!!
Even underwear advertisements and beyond!!

vbolton
www.vwynndesigns.com
June 5, 2008 5:01 PM
 

Wynn said:

You know, I'm a simple single man...

I would be happy with a strickly fabulous trading portal.
Do you know why? Well, because tools are everywhere!!
Trading Portals are not everywhere ;-}.

vbolton
Minor in Economics
Still Learning...
June 5, 2008 5:05 PM
 

Rohan's Dad said:

I think your current ad in regards to "more bang for the buck" is too racy.Why don't we tone it down a bit and center your attention on the the"CUSTOMER" and evaluate what would capture their attention than gimmicks.
June 5, 2008 5:19 PM
 

dugwood2 said:

OK I think you already got what you are looking for from the other posts. I don't mind the nudity, but, that particular add  is just not  compelling or interesting to me. Seems a little "B" grade. I second the opinions of droppoing the $2500 min. and E-Alerts on Stock price targets is a GREAT IDEA. Also, I think 10 free trades is adequate considering the low fees you charge afterward. What got a lot of people sour was the CHANGE from 40 free trades. Had you started with 10 all would be fine. Hope this helps. If/when I come up with truly compelling ad idea, I will get back to you. Keep up the good work.
June 5, 2008 6:48 PM
 

ff4444 said:

All right here is my brainstorm, sorry for the length...

1) Will you guys be around in the future? Other brokerages
  list their longevity and financial health as a selling
  point. You should do this too. If Zecoo is running in the
  black this could be spun into marketing material on your
  site somehow. This info would assure people that are
  looking at your site trying to decide to move their
  money, but they have never heard of Zecco.

2) Word of mouth is vital for any brokerage. I personally do
  recommend Zecco, but in order to be candid I have to add
  "but their user interface is not as smooth as <a low cost
  competitor I switched from>". I won't spend too much time
  on quibbles here, but let there be no doubt that word of
  mouth is inextricably linked to overall feel and
  performance. Here is a smattering of what I am referring
  to:

  a) If I go to Trading Center -> History -> 18 months ->
     Deposits. I get no results when I click "Search",
     which is wrong. If I click "Dividends" The results
     list has hard to interpret fund names that aren't
     clickable to get a chart, if you have multiple funds
     from one fund provider, then the provided names are
     very nearly useless.

  b) If I go to Account Records -> All Activity. Everything
     I try results in a message "Your search resulted in no
     data for the time frame selected." This happens
     regardless of the time period I enter.

  If there is broken stuff, it would probably be better to
  just remove it so that it doesn't clutter up the
  interface. Your user's experience will be more positive
  which will turn into word of mouth.

3) As far as other ads that work for me. I personally like
  Scottrade's simple $7 trades / no fee IRA animated .gif
  ads...

4) Write articles based an data mined from Zecco user's
  shared trade data. This could be published on
  SeekingAlpha and others, to help drive traffic.

5) Make sure that user discussion boards are easily
  googleable and land on the search page with optimized
  placement. If someone searches for "how to trade options"
  from a search engine, there is no reason why they should
  not read this on Zecco.com. This is vital way to leverage
  user created content to drive traffic.

6) This has been mentioned many times before, but I will say
  again; that it was blunder to snub the vocal early
  adopters who gave Zecco a shot expecting 40 trades per
  month. These early adopters are often the spark in 2.0
  communities... You should probably just give their trades
  back if they signed up earlier and ask for it. This is
  the demographic that you least want to offend ;)

  This brings up another point: prospective users want a
  guarantee that the terms and conditions are not going to
  change against them in the future. Guaranteeing terms to
  whatever degree you can, will be a selling point and does
  have a place in promotional material.

7) Monthly re-balancing and dollar cost averaging is free
  with the Zecco price structure. This could be the main
  point of some advertising. This is the main reason that I
  joined Zecco.

8) The $50 bounty for referrals that join Zecco is
  worthwhile. However, I personally have a hard time
  recommending something to someone if I have a conflict of
  interest. Also I am very leary of the "investing related
  book" that my friend or family would be given, because I
  am not sure if I would agree with what was in that
  book. I am even more careful about recommending investing
  books, than I am recommending brokerages ;)

  I don't want to discourage this type of reward for
  referrals, I am just trying to share the challenges
  inherent in doing this well. One other idea might be to
  give free trades every month for people who refer others,
  and possibly to the people who get referred as well.

9) Contact Mebane Faber who writes worldbeta.blogspot.com,
  and do whatever he says to get bloggers to partner with
  Zecco for mutual benefit.

10) Get featured in Wired and Fast Company. I would have
   said Business2.0, but RIP :,<

11) I second the facebook module idea, but don't make it
   lousy and annoying. That is: anything is not better than
   nothing in facebook module land.

12) Don't log people out of Zecco.com constantly because
   this makes your site less sticky. At least make the
   automatic log out time be user configurable. I work in a
   secure area for example, if someone is able to touch my
   computer I have really big problems besides
   un-authorized trading activity ;-)
June 5, 2008 6:49 PM
 

mjs4me said:

Ditch the underwear ads.  Look for something more creative and less offensive.  You shouldn't need sex to sell a good product.
June 5, 2008 7:42 PM
 

dalporto said:

"Holy Shi"!  I have to say, the responses to Jeroen's blog this week have blown me away.  Not only are there tons of great marketing ideas, but there is also an amazing amount of passion around the website and the product.  A little insider's view: that feedback hasn't gone unnoticed by our product team.  They'll be sharing some information soon about recent and upcoming progress.  Just one example: did anybody notice the completely revamped quotes and research pages today?  Check them out.  

Back to marketing... please, keep the ideas coming!  We're trying to shake up the online investing world, and to do that we need to break through and grab investors attention. So maybe looking at "a dude's package" as surfkw puts it isn't the best way.  Give us more!

Also, thank you to everyone who has helped us spread the word about Zecco by telling your friends, family or just plain blogging about us.  While companies like Etrade and Ameritrade spend north of $100,000,000 each year on marketing - a truly obscene amount of money - we rely to a large extent on your referrals.  Keep it up!


Best,

Gabriel Dalporto
Chief Marketing Officer
Zecco

PS:  FF4444, you rock!
June 5, 2008 8:14 PM
 

xinstar said:

Zecco will be the one.
June 5, 2008 8:21 PM
 

olharleydude said:

The ad doesn't do anything for me. I wouldn't waste the money.
June 5, 2008 8:23 PM
 

wifi55 said:

Always good to see my fellow Zecco-ers providing input. The ad you're thinking about - doesn't do it. Its not even racy - drop it! Previously members talked about word of mouth and that should be the way. Some postigs about the Zecco community + 10 Free Trades on MySpace.com, Facebook.com, etc. would attract addtional clientelle. More importantly is that 40 trades is 40 trades and there should be some compromise with those folks!
There should be more educational information on Zecco itself and how trades work in general. Longer hours (7:00 pm) would accomodate longer trading days as TDAmeritrade does. And, yes I have to go back to them to do my research - how about improving that. It gets down to the services and prfessionalism of the organization. Ads and gimmicks are just that and only spike temporarily. I still remain to have a good solid answer regrading my margin account (how it works) and an accurate or even BALLPARK accounting on the status of my cash/margin! Cleaning those (anyone should know issues) entices, brings confidence and the interest to invest in ZECCO!
June 5, 2008 10:23 PM
 

flush bob said:

the ad is quite hilarious. I do not think that add will appeal to everyone.

If it is a targeted ad to try to capture a certain audience (I.E. young adult's [males]), then you may definitely get their attention with it. and possibly even get them to come to the site.

However, if you are trying to make ad's that appeal to all demographics and market segments, then you may want to re-consider.

...Other option may be to run the ad but just choose certain places to run it like college campuses, towns, facebook, myspace etc.

June 5, 2008 10:28 PM
 

flush bob said:

also the ease of interaction with the website can be a little annoying. It just is a little slow getting between pages and sections of the site. You guys might want to work on that a little more.

I find it quite irritating when navigating through the website and dicussions for groups and it takes so long to get pages and things to load when moving through items. My internet is fast, and with other investor forum sites and blogs and interactive websites, I get to where I want quite quickly.

Sometimes getting from trading section to the research section to the community section to check the boards just takes forever - I think somehow and someway you guys can improve on the SPEED of information navigation and customer friendly feel of the site.

just some food for thought...good luck :)
June 5, 2008 10:34 PM
 

NickSan23 said:

I like the underwear ad (very funny) but I think that old conservative people will find it offensive, and networks may hesitate to air such a commercial.  What about making cheap t-shirts with the zecco logo on the front and a witty quote on the back and giving them to existing customers.  I would gladly wear a zecco t-shirt to help spread the word and encourage people to stop paying ridiculous fees to etrade and ameritrade.  I'm sure a bulk order of tshirts from a distributor would be pretty affordable and I guarantee that the accounts acquired would pay for the cost of the tshirts and much more!
June 5, 2008 11:32 PM
 

tnor64 said:

I agree with a lot of the above, especially that which relates to the quality of the website and the legitimacy of the company. A great product sells itself. The original "viral marketing" was severely hampered, and continues to be IMO, by the way the 40 free trades fiasco was handled. It seems like the financial incentive to refer friends is working, though some are conflicted about it. It seems like you could do away with this program, and still attract as many new customers if that money were used to:
1. Offset costs associated with returning to 40 free trades, at least for those who originally had them, to mend bridges with all those early supporters of Zecco.com. As was mentioned above, these people, for a variety of reasons, are the last customers you want to alienate.
2. Failing that, improve the website! Usability, namely. Other than typing in buy/sell orders and such, it'd be nice to never need to touch the keyboard for anything else. Typing in my account number to access features and typing in a date range to view prior transactions, amongst many typing tasks, gets tedious and is not user friendly. Improvements in features, while maybe justifiable as a long term goal, shouldn't be the priority before smoothing the interface. Some progress has been made here, but not enough that I personally am going to start recommending the site.
3. If new features are a priority, make sure that they are developed with your customers in mind. I.e. people who are here for free trades probably are not looking to spend $ on pricey features.

Focusing on the above will get your product inline with what people are willing to stake their own reputation on recommending. Having a great site, with happy customers, will bring in more people than gimmick advertising. In this age of adblocker plus, tivo, etc., the most effective advertising is the viral word of mouth stuff in blogs, between friends, and in internet forums.

That's how I, and I imagine most people here, were turned on to Zecco.

Good luck.
June 5, 2008 11:39 PM
 

romsluck said:

I will not use that underwear ad for sure..

The title "free trades" is misleading and really give an impression like "It's too good to be true" / "How the hell the company sustain?"
/"I don't want to risk my money there" type of thoughts..

I would make it "10 Free trades per month" which gives out accurate facts and still doesn't sound like just another bullshit marketing idea to lure people in.. It's genuine and it works better..

p.s If you do implement this I want 50 free trades per month for my suggestion ;-)
June 5, 2008 11:57 PM
 

DrSB892 said:

I agree with Schmoof & gchron-You SHOULD have grandfathered your original customers at the 40 trade level.
I should not advertise yourself a brokerage that gives free trades just based on 10 trades. WHY

1) TD Ameritrade gives 500 free trades or unlimited free trades for 30 days.

2) E TRADE gives 100 free trades.

3) Some banks like WellsFargo(and they do not advertize themselves)
June 6, 2008 12:03 AM
 

DrSB892 said:

my post got submitted inadvertently so here it continues.

someone said--word of mouth will be good for you. Yes it will be provided you & your cutomer service keep their promise.
I recommended a friend. they got the link to open the account. the link did not work as it was supposed to. So i called zecco CS asked what shoudl we do. we were oh no problem go ahead and open the account and just send us an email later mentioning the link did not work and we will honor it. I asked twice will you realy honor it? I was assured not a problem, help your friend open the account. I did. after that Once the account was opened me and my friend sent several emails to no avail. sent even the past email showing that the link was not working but all in vain. NOW you tell me How would I recommend some one lese to your site!
As for the ADS thay look cheap...and lacking esthetic sense.We customers should be able to count on your promise. When people feel there must be some catch.. YES somewhat..you recommend..once account is opened..we will try to get out of our promise.
You come to us for 40 Free trades. then we will take 75% of it back!
We were told ..we need to take them away to give you something better..I pay about $180 a month just in coommisions. I do not see any value added worth that.
By the way TD also gives free gainskeeper while you charge. Apex customer service is remarkable. It will be worth making your old cutomers feel valued by KEEPING the PROMISE you made. --Thanks!
June 6, 2008 12:16 AM
 

DrSB892 said:

Delparto

Regarding..

...did anybody notice the completely revamped quotes and research pages today?  Check them out...

We did notice and it took some time to figure out how it is woking.It is good to warn about the changes before implementing them so cutomers are mentally prepared.

A few monthe ago you made a chage where BUY started appearing as default (while before you had to choose BUY or SELL which was good as customer were conciously choosing the action=BUY or SELL).That change was made with no notice..as such I ended up buying (BUY is defaulted) stocks at at higher price when I intended to SELL!!! So those were not only bad trades but I also lost some the 'precious' 10 free trades.

todays change..implemented since last night..Negative now in charts you cannot see price on Y axis only %..No USEFUL< NOT FRIENDLY and not liked..(You should use some customer pool to beta test your IDEA before implementing..
Earler by typing the ticker just once I could put order or get quote.
NOW with new change you have to type ticker a 2 places. IF you want to moniter the quote while putting an order you cant to without typing ticker a at 2 places.  

By the way as for FREE..you should not charge for real time quotes. TD gives free real time quotes to APEX customer (YOUR OLD FAITHFUL CUSTOMERS WHO CAME WITH FREE 40 TRADES are/should be your APEX type cutomers..ZECCO charges for real time quotes.

TD charges no fee for IRA accounts!!! Not a penny. NO fee for no load mutual funds as well.
Zecco charges $15.

for the above reasons I had to keep my TD account as well as APEX Customer.

June 6, 2008 12:37 AM
 

Chettar said:

You REALLY need a real IT infrastructure. You are dealing with lots of money and there are TOO many issues with your website. It has crashed AGAIN today; TOO many problems!! Stop worryin' about frivolity and get what you have to work. Build on a solid foundation, not a mess. What is the use of attracting more customers IF you can't service, properly, the ones you have?
June 6, 2008 9:48 AM
 

veloche said:

you really have to increase the free trades to at least 20. It was a pretty frustrating bait and switch
June 6, 2008 10:40 AM
 

cjo27bp said:

Toss it.
June 6, 2008 11:45 AM
 

madjay said:

The underwear ads are horrible - they will turn off potential customers.  You have a good product but remember, other brokers will copy this too.  What will you have then ??????
You better an excellent web site and excellent customer service by then or your edge will be gone !  You need to listen to what your current customers are saying and implement as much as possible, not just what your competitors currently have, but more than that whether big or small.
June 6, 2008 12:08 PM
 

Tradertee said:

I agree the new proposed ad is a no go ! I also agree with the premise that to say free trades and then only give 10 per month is misleading and not the way to honor customer commitment. I started with the original 40 free trades per month. And while I didn't necessarily use them every month it was still nice,because I might have used them. For myself you still have some things that could be fixed; i.e. stop shutting off the user and making him retype in his trading code every 2 minutes. Also get real time postions updating,without having to hit refresh so often. I also would like to see tax lot seperation and accounting on the positions like Etrade has so I can sell the tax lot I wish without having to get in touch with CS and request a different lot to sell instead of FIFO lots.
At that point I might be able to reccommend you to others. I'm leary of reccommending to someone since you already have taken trades away from me from your original pact with me (40 free trades a month). Now on the positive side you have made great strides since I joined you i.e. your screens ,response time , etc. But you
have a ways to go yet . If you do some of the things I mentioned I
am sure you word will get out and your subscriber base will grow in its own good time.
P.S. You have an ex Brownco CEO on your staff so you should be able to impliment the tax lot accounting ,as I had it with them before they sold out to ETRADE.  
June 6, 2008 12:20 PM
 

Bruce1940 said:

I don't like the underwear ad. Tasteless.

Advertise free trades, quality service, reliability, and back it up
up by providing the same.

Also eliminating the $2500 minimum for free trades would entice
a lot of new members whose accounts would grow with time if the
benefit is worthwhile.

Word of mouth is the best advertising available.  Make your
current members happy, they will spread the word.

June 6, 2008 12:37 PM