Commentary: USPS Stuck in the Past
Senior Editor, CNBC
Has anyone at the U.S. Postal Service watched this commerical (click here towatch the USPS video)?
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."
Strong words, but a stronger strategy is clearly needed to recover the billions of dollars in lost revenue.
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