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Commentary: USPS Stuck in the Past

Has anyone at the U.S. Postal Service watched this commerical (click here towatch the USPS video)?

Postal worker
Getty Images
Postal worker

Fear mongering? Turn back time? The agency Thursday reported a loss of $3.3 billion dollars for the fiscal first quarter of 2012, and that’s the best they got?

If that’s their best strategy for growth, maybe we should cut bait and run now because clearly, whatever organization approved that ad is hankering for the good ole’ days when Joe the postman showed up at your door with “The Saturday Evening Post", a few bills and maybe a postcard from your Aunt Ethel.

Businesses that think customers will go back to paying bills by snail mail should consider what happened to Verizon when they tried to establish a fee for online payments – the backlash was fast and furious.

@JoshJames, Domo Founder and former Omniture CEO & Co-founder who cashed out in a $1.8 billion sale to Adobe tweeted, "USPS says don't use email just snail mail. USPS should die--already privatized. Dumbest commercial ever."

Ouch.

Strong words, but a stronger strategy is clearly needed to recover the billions of dollars in lost revenue.

Follow me on twitter @LoriSpechler and read more of my posts on http://marketinsider.cnbc.com

Disclaimer

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • CNBC's Senior Personal Finance Correspondent

  • JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.