Marketing Brilliance and the lack there of

So, if you are keeping up, you know I was in Michigan for the Christmas holiday. During our trip we got to see all of my family members...including the cutest 22-month old little boy named Jack. He put a box on his head and ran around screaming "MONEY!" Quite possibly the funniest thing I have ever seen...for the first 10 minutes any way! Check out the picture!



It's time to focus now. During my trip to Michigan, I had the pleasure of meeting with an old friend who will be able to help MarketMatch go to the next level with regard to technology, networking and phone systems. A pain I know you have all felt at some point. In that it would have been inappropriate (and painful!!) to bring my husband to the meeting, I did what any other really good wife would do. I gave him my T-Mobile account information and dropped him off (with his Mac book in hand) at the only Starbucks within a 30 mile radius. Yup, really small town! I thought that would keep him busy during my meeting a few miles away.

After two hours of geek speak, my meeting finally ended. I called my husband and told him I would be there in 10 minutes to pick him up. When I arrived at Starbucks to pick him up, he was...ummmmm...what's the word....ANGRY!!! Apparently this is the only Starbucks on Earth that doesn't have Wi-Fi access. 2 hours of good coffee and people watching was all he got.

As a business traveler, I have come to rely on the Starbucks connection. I can always count on the trusted coffee shop to provide me with the 15 minutes of connection I need to send the critical email and file, and sometimes even deliver on the promise to blog.

What a great Brand Position Starbucks has created. Imagine my disappointment when I realized that the brand promise didn't deliver. I don't care if it is Mount Pleasant, Michigan or Dayton, Ohio, Hilton International or a community bank. When a brand is created and delivered it should be consistent. When we deliver our brands inconsistently our customers become less faithful. If there is nothing they can count on, why should they count at all?

Did you know many McDonald's locations are now offering Wi-Fi? I would rather smell coffee than fries any day, but when I need connection my preferences go out the window. Maybe I need to reconsider on whom I rely.

As we enter 2008, take a minute to think about your branches, your people and the messages you are sending. Is it consistent or are you giving your customers a reason to stop somewhere else for their connection?

Your Partner in Branding,
Jenna

A Key Mission for 2008

Greetings on this cold and wintery New Year's Eve day....I hope it is warm wherever you may find yourself!

Just like what we prescribe for our clients, MarketMatch completed a strategic planning initiative for 2008 and we are very excited to get rolling for the year. We have many new items that you will soon hear about and exciting plans for new ways to support our clients!

As I was thinking about 2008, I was reminded of the experiences I had when my oldest daughter was in high school marching band. True to my form, I had to participate and couldn't just be involved I had to volunteer to be the "Pit Crew Boss"...the person in charge of making sure all instruments, band members, support items, etc. made it to each competitition and practice for the 150 member band and color guard.

In my daughter's last year, we had the privilege of being selected to play at the halftime celebration of the Sugar Bowl (it was in 2003 and Florida State played Georgia!) As the band practiced and practiced and practiced....I remember a key mission the band director laid out for the band.

He would say....after a very successful practice....that it was the responsibility of each band member to think of one...just one....thing that they could individually improve. He went on to say that if we did that for every practice and every competition, we would "fix" 150 mistakes EACH TIME.

To that end, 2008 may seem a bit daunting as you review all of the Agenda items....but break it into SMALL steps and involve every one....soon you will be making incremental improvements and BIG jumps without too much fus....

My New Year's wish to you....get a bit better, faster, stronger each day in 2008!

Cheers!

Bruce

Help from my family

Here I sit in Michigan, working from the breakfast nook table with my dad on his laptop to my right. My mom in the kitchen perpetually cleaning and my brother and husband in the room discussing the size of geese floating on the river and what a lucky man Regis Philbin is to get to look at Kelly Ripa every day. Seriously.

So, I thought I would get a little marketplace perspective from two boomers, a Y-er and an X-er. I asked for a brilliant idea for my blog today and got this advice:

"Why do you have to buy 10 hot dogs but you can only buy buns in packages of 8?" As contributed by my husband...the X-er.

Followed by my brother's (the Y-er) two cents, "Whatever happened to G.I. Joe. Kids don't have any good cartoons to watch anymore." He doesn't even have kids!

My dad replied with, "Why are you working on Christmas Eve?" To which my mom replied, "What is a blog?" They are the Boomers.

It is with much regret that I must share with you that nobody had a brilliant idea to share in my blog today...including me!

Here is my holiday wish to you all. May the holiday season find you safe and happy and the new year be filled with marketing brilliance, lots of deposits and guaranteed ROI.

Merry Christmas!!
Jenna

2008 Marketing Resolutions

It is almost impossible to think that the end of the year is only two weeks away. To echo Bruce's comments from a couple of posts ago, where did the 4th of July go? As promised last week, I want to ante up for 2008 with my Top 5 Marketing New Year's Resolutions! Let's dig in:

5. I will blog weekly. Yes, that's right, I am re-re-committing to this blog and will share marketing wisdom with you weekly. If you take a minute to vote on the right hand side of this blog, I will be sure to share expertise with you in those categories.

4. My blogs will be shorter but pack a bigger punch. Need I say more?

3. I will communicate the MarketMatch message more clearly. This will probably hold true to most of you: We can do it all for our clients, but do they know that? Find a short, easy way to tell them and tell them often.

2. I will be more involved. So for you MarketMatch followers, you know we are headquartered in Ohio...but did you know we are a national company? I work from our Denver, Colorado offices. I will get involved more regionally so that all of you in my neck of the woods can get to know me, trust me, and hopefully find value in what I can do for your institution.

And the #1 thing I will accomplish this year is....

1. The return on the MarketMatch investment will more than 100%...no excuses, and I will put my money where my mouth is. (This is where I put the disclosure that the ROI guarantee is a rebate on the difference when the program is executed as recommended, etc. Email me at: jrowland@marketmatch.com for more information).

Thanks for your readership, and here's to a great 2008!!!

Cheers,
Jenna

Notes from NAMP #3

At the Table: Making Marketing’s Voice Count in Organizational Leadership
Speakers: Jerry Yoshitomi, MeaningMatters, Port Hueneme, CA; Brian Jose and Susie Farr, Clarice Smith Performing Arts Center at the University of Maryland, College Park, MD

1. At the Clarice Smith Performing Arts Center, they implemented several organizational changes after their staff turnover got to be really high. First they learned that a director’s loyalty needs to shift to the success of the organization and the leadership team, rather than being with their individual departments. This meant that each director needed to become more expert in other department activities. The director of artistic initiatives and the director of marketing shifted to become joined at the hip. Decisions were made together by those two and the executive director, and the offices of those two staff members were moved to be right next to each other.

2. Always challenge the prevailing organizational wisdom and make improvements because the world is changing quickly and you must adapt. Try to draw attention to issues without drawing attention to specific individuals. Gather the people in the organization who can influence change.

3. As a strong team member, you can’t just be an expert in your discipline—you must now know about other departments. If the finance director wants to know why you aren’t hitting the ticket sales goal, then work with him to develop an understanding of the problem so he/she better understands marketing. Overall knowledge about all departments by the leadership team will promote better understanding and therefore better decision-making. This understanding has to be a two-way street—invite questions. Questioning is liberating and genuine, constructive conflict can be very good. “Artificial Harmony” can destroy an organization.

4. Strive for complete clarity and transparency in the organization.

5. People who get defensive about questioning can inhibit growth and can support a stagnant environment. The idea of running your department as an entity by itself is detrimental—be open about your process, invite questions, work with your peers. They all have different strengths.

6. Maybe some questions we should be asking: What are we doing that is ground-breaking? Are we setting an example for the rest of the country? Are our processes outdated? Are the practices of the American regional theatre outdated? Where are we stagnant? Where are we dynamic?

7. Two to One ratio – you have two ears and one mouth so listen twice as much as you speak.

8. Suggested reading: “Five Dysfunction of Team” and “Death by Meetings” by Patrick Lencioni and “Leading with Limited Authority”

Resources

You will notice that we have updated our blog quite a bit in the last week or two...including adding some links to other blogs. We want you to know that we don't have any affiliation to the other blogs, but we do find their content to be timely and relevant (most of the time anyway!). Those links are in the left column. Click away!

Coming soon: My Marketing New Year's Resolutions. A top-five countdown!

Have a great week!
Jenna

It's December....where did June go??

Good morning...I woke up this morning and thought to myself..."good, its only the 10th of December." It took about 30 seconds for that thought to actually sink in....wait, I meant to think "Its ALREADY the 10th of December!"

Every year speeds past and the summer fun we all had is just a memory....but the good news: we still have time to plan to make 2008 great! So with that, I will share my top 10 planning tips for 2008!

Here we go...

#10 ... Market Share. You need to see how consumer trends will effect the future of your business. You need a sustainable competitive advantage over your competitors, based on what you can deliver upon (performance) and what is important to the market (Importance).

#9 ... Measuring Competition. You, your marketing team, branch personnel, and operations are aware of the competition's products, services and advantages. Identify the opportunities and plan for changes, competitive pressures, and weaknesses.

#8 ... New Products and Service Development. Make sure your products are meeting the lifestyles of your customers. And what products would create new opportunities.

#7 ... Product or Service Redesign. Changes in consumer lifestyles can impact your products and services. Re-evaluate your current products and services.

#6 ... Positioning. What consumer lifestyles are out there that your competition isn't satisfying? Position yourself as the full service institution you are...or the nimble niche player!

#5 ... Sales. How do your customers react to your sales process? You need to develop a service culture that will drive your competitor's customers right in your front door and deliver sales opportunities.

#4 ... Pricing and ALCO. Understand the the current consumer trends on the way they spend and save their money at your bank and the market. Do you know how your customers feel about price, value and quality? Are you on ALCO? Do you know what to provide the team?

#3 ... Measuring Brand Loyalty. Build strong brand loyalty. Activity is the best long-term predictor of loyalty...communication ensure activity, focus ensures communication!

#2 ... Targeting the right groups. Define the consumer groups you want or should target and what new groups show the best opportunities. Leverage your time, effort and resources!

#1 ... Branding. Make sure your brand is an intersection of quality products and quality experiences. Evaluate your brand consistency and then set out to make it 100% consistent!

If all else fails...make sure you do a quarterly Strategic Plan check-up to ensure you are on pace with your plan and to assess what modifications are necessary to your tactical delivery.

See you soon...

Go Buckeyes!

Bruce

Marketing to Gen Y

I know it's only Friday, and technically I don't owe you a blog until a week from Monday, but I couldn't pass up the opportunity to share this with you.

Open Chat with Generation Y'ers

Don't think for a minute that generational marketing is exclusive to a bank or a credit union...it is something we all must pay attention to. Why, you ask? Because if you don't, your competition will! They want what you have...YOUR CUSTOMERS. When was the last time anyone you know handed over their most valuable asset?

Happy Friday :)

Jenna

Pie Crust Promise

Any Mary Poppins fans out there? If so, then you already know that a Pie Crust Promise is one that is easily made and easily broken. For example, when we started blogging, it was created as a pie crust promise...we promised to blog then didn't. But we have since redeemed ourselves via my re-commitment to blog!

So the blog today will be a vent (and a good example of why you should monitor the blogosphere for your bank name) for me to talk (read: complain) about a broken promise with regard to customer service.

On August 28, 2005 I purchased the most incredible refrigerator from Lowe's. Thankfully, I also purchased the 4-year extended protection plan...not sure who talked me into that, but today I am very grateful that they did! I went grocery shopping yesterday as per my usual Sunday morning routine. I came home, unloaded the car and put everything away. Around lunchtime I opened the refrigerator and thought to myself "hmmmm...that doesn't seem very cold." So a few hours later I opened the refrigerator again to find it was 63 degrees INSIDE!!! It wasn't that warm in the state of Colorado yesterday!!

So, I found all of my extended service plan information and was SO happy to learn that you can "call 24 hours a day, 7 days a week for service or repairs!" YAY!!! So, here's where my complaint comes in. You can call that number any day at any time, but if you call outside of normal business hours, nobody answers and you can leave a message, but nobody will return your call. UGH.

I won't bore you with more details, mostly because I know you are feeling my pain. A refrigerator that doesn't work but is full of groceries and a promise of service that wasn't delivered upon.

They will be here tomorrow to fix it (I don't want to leave you hanging) but in the meantime, I have coolers with ice and food scattered about the kitchen.

Here's the moral of the story...If you make a promise to your customers, regardless of the time or cost the promise will take to fulfill, you need to deliver. Nobody likes a Pie Crust Promise.

Remember, on average, a satisfied customer will tell fewer people about their experience than will a dissatisfied customer. I am a dissatisfied customer and just blogged about the broken promise from Lowe's. (What are your customers blogging about you? Especially those Gen X and Gen Y customers.)

So, as you begin to think about your New Year's Resolutions, think about adding "I will never make another Pie Crust Promise" to the list.

Thanks for letting me vent! Happy Monday, and Happy Ski Season!

Jenna

Marketing Plan

Here it is...I am laying it all on the line for you...or at least someone else did!!! I know this was not a promised week to blog, but I just found this article on Gather.com and had to share it with you.

And for those of you who are not familiar with Gather.com, it is essentially a site that will take the blogosphere and condense it into bite sized chunks of similar topics.

I think next week we should talk about eMarketing. If you enjoy reading this blog or any other blog, you should be blogging for you bank. I will help you get started on Monday! In the meantime, read and share this fantastic article regarding the importance of marketing planning...including how to get started!


Happy Marketing!

Jenna

Notes from NAMP #2

Direct mail in the New Frontier: Here to Stay or Only a Click Away
Speakers: Catherine Carter, Broward Center for the Performing Arts, Ft. Lauderdale, FL; Shelly Felder and Howard Levine, 92nd Street Y, New York City; Rick Lester, Target Resource Group, Woodland Park, CO; Laura Sullivan, Penn State’s Center for the Performing Arts, University Park, PA

In 2006, direct marketers mailed 116 billion pieces of direct mail. Quantity increased by 15% over the previous year, primarily because there is no spam filter to get through or “Do Not Call” list to deal with. Plus many people seem to prefer a tangible, paper offer. Direct mail expenditures in 2006 were $59 billion.

• National response rate for all offers was 2.15%
• On a national average, one year lapsed subscribers had a response rate of 3.3%, traded names 0.14%, rented names 0.05%, and current single ticket buyers 2.6%. It was suggested that it is too expensive to mail to rented names.
• New rule is in place: always step on your offer. Usually you will mail first, then you should follow up with an e-mail solicitation. Houston Ballet sent out a postcard and had a 3% response rate. Then they sent out a postcard and followed up with an e-mail and got a 4.5% response rate.
• Even though people are not responding by mailing in an order form, Target Resource Group has found that people refer to the order panel before they go online. When they removed the order panel, they got a lower response rate.
• A/B test everything. What offers work best, which list segments work, sequence of mailing
• Increase the frequency of your message in front of the target groups which regularly over produce on mailings.
• Nationally 96% of all subscribers come from contacts already in an organization’s database and only 3.5% come from trades, while 0.4% come from rented names. It should be noted that of the 96% of all subscribers within an organization’s database, on average 6% of all subscribers are on the organization’s “do not contact” list.
• We should build a predictive model of people who are likely to respond and then target lists with this predictive model.
• The 92nd Street Y covers events around the country on their website and then they tie it back into their programming. Often other blogs pick up their articles and link back to their website or blog.
• YouTube has now launched a non-profit channel. The 92nd Street Y video was featured as the non-profit video of the week, and had over 100,000 views. YouTube now gives non-profits their own landing page which can be tailored with your graphic identity.
• They also started making restaurant reservations on behalf of their ticket buyers through http://www.opentable.com/.

The greatest gift of all...

Tis the season for giving thanks, Norman Rockwell paintings, the Coca Cola bears, strategic planning and thanking your best customers with candy or apples or some other typically edible arrangement they can share with all of their staff.

My blog today may seem like a bit of a rant but I so whole-heartedly believe in this topic that I feel it is necessary to talk about, so let's get started.

You all have the right idea. Because your customers have been faithful to you for so long it is important that during this season of giving you find a way to say "thank you." But here's the thing...(I will go out on a limb here) most of you say thank you with food. UGH!

Your grandmother has loved your for your entire life, do you say thank you to her with Florida Oranges? And what about your siblings? Do you tell them how much you love them with a basket of assorted meats and cheeses? NO!!!!!!!!!!!!!!!

Let's talk for just a minute about how we give gifts. For those family and friends we know the best...we know what their financial situation is, we know what their family life is like, we know what they need (because they tell us) and we know what they want (because they tell us), we give them what we know they will love.

My mom this year will be receiving a Kitchen Aid hand mixer in red because she is tired of splattering cake batter all over the kitchen...her current hand mixer doesn't have a low setting and the new one will...I tested it. I could have taken the easy road and given her a gift card to pick out something she wanted, but that isn't very personal.

I will be getting my hair cut this week with the same woman I have had cut my hair for the past several years. We have a 40 minute conversation every six weeks or so...I don't know her well, but I know she just bought a new car a few months ago, and I know that she and her husband love to eat at a restaurant called nine75. I could get her an assorted meat and cheese basket because it's easy, or I could get her a gift card for car detailing, gasoline or a great meal.

I have a point...do you see it yet? I guess I'll have to get to it now...

For those of you out in marketing land, don't take the easy road with gift giving. Sure you save a little money when you buy in bulk. But your best customers are as different and individual as your family members. If your practice is to give gifts based on the longevity of the relationship, that's OK...but have you thought about REALLY thanking the customers who help you (the bank) the most? Have you thought about thanking the most profitable customers you have? If not, try it. I lose sleep over the amount of money we spend as marketers to thank the customers who are 80 years old and have 3 CDs and opened a young savers account for their granddaughter 20 years ago.

Granny deserves thanks, but what about the small business owners who have both their commercial and retail accounts at your bank, they own a home, own a business, have a couple of cars, offer direct deposit to their employees and have half a dozen deposit accounts with you...are they worthy of the assorted meat and cheese basket (even if there is wine in it)? NO, they deserve better than that. They trust you with their livelihood. You know more about them than you do about your second cousin who's name you drew for the family gift exchange.

I believe your best customers will appreciate an annual review of their accounts to be sure they have the best rates and lowest fees possible more than they will appreciate the food. That builds value in a way that your competition will never understand. Not to mention the fact that you may learn about a new challenge or opportunity that profitable customer is facing...talk about a HUGE opportunity to be the expert and get the lifetime relationship.

And from a cost perspective, at the very least it will save you a little money...it could even make that customer more profitable which will put money on the bottom line...which is more than I can say for the assorted meat and cheese basket!

Think about it. It may be too late for this season, but try it next year or the next time you give your best customers a gift. Let me know if you need help calculating the ROI on your giving...or even an ROI projection of a new giving program. Trust me. Reevaluating your gift-giving procedures will be worth it.

And check out this video...it will solidify some of the points I am trying to make!



Happy Thanksgiving!
Jenna

Notes from NAMP #1

Well I got back from the NAMP conference almost two weeks ago, and I was planning on blogging about all the exciting things I learned. Then I realized I had to move into the house that I closed on three days before the conference. I don't know what I was thinking when I decided to switch jobs and buy a new house all at the same time!

Things are starting to get back to normal so I wanted to share some of the notes I took at the 2007 National Arts Marketing Project Conference in Miami. Below are my notes from the Keynote Speech from J. Walker Smith:

Keynote Address: J. Walker Smith
President, Yankelovich, Inc.
Chapel Hill, NC

• Check out http://www.gethuman.com/
• Marketing is now shifting to the intangibles—you can’t market the product, you have to market the experience. Loews theatres has a program for moms and children to see a movie in a movie theatre. They lower the volume and keep the lights on because its not about the movie, it is about the mother/child experience.
• ¾ of Americans say that they are time starved and the average consumer says their time is worth $1.25 per minute. If you keep them on hold, they will get upset and expect to be compensated. If you keep them on hold, then give them something worth a $1.25 per minute. Try to make all interactions “zero time interactions” with instant gratification. Telemarketing calls better be worth their time otherwise just the act of hanging up the phone on the caller will be deemed as 60 cents worth of wasted time.
• We live in a world where everyone is different. Being different is “cool” because there is no longer anything to conform to. By 2030, 40% of our population will either be Asian, African-American or Hispanic. White people are going away because their birth rates are lower than their death rates. Everyone will be different.
• The control has now shifted to the consumer. If you try to force them into something they don’t like, they will just fix it and then post the solution on the internet. A great example is 20 year old George Hott who figured out how to modify the iPhone to work on platforms other than AT&T, all because his family had a T-mobile family plan and didn’t want to spend more money. He then posted his solution on several websites.
• In 1960, ¾ of people by age 30 had left home, finished school, married, had children and were financially independent. By 2000, only 30% of the population had done these things by age 30. Difference is the only common value today. People want to be treated like individuals and differently. People want intangibles (the experience) to be tailored to them in the marketing and execution. People now expect to be treated as differently as they are.
  Put your consumers in the loop—in 2006, 56% of consumers spent more than 2 hours researching purchases over $100. They want to know all the behind the scenes information.
• One of the reasons that traditional print newspapers are declining is that you can’t get a customized newspaper tailored only to you. But with RSS feeds, you can set up interests and only get information you want and it is sent to you. Put your consumers in total control (chad’s note—is this why subscriptions are failing?). The car manufacturer Scion now manufactures cars that are built to individual and unique specs that consumers send to them via the internet. They will build you a car like none other. Their tagline—“we relinquish all power to you.”
• Meyer Gas sends their consumers a text message to their phones alerting them when gas prices are going to go up so that they can drive down to the station and purchase before the prices increase.

Survey Says...

Any Family Feud fans out there? Good ole' Richard Dawson! I used to watch that show a lot. But this post really has nothing to do with that so I will get to it...

How many of you are members of a loyalty program? I collect miles on every airline, I participate with every major hotel chain, the grocery store, Sephora, Eddie Bauer, the corner convenience store (fountain soda punch card anyone?) and any other company who asks me to become a member so I can receive great perks and valuable discounts. I am a sucker. But I also pony up so I can see how they market their programs and reward their loyal customers.

It should start coming together for you now!!!

So, as I have mentioned before, I am as faithful to Hilton properties as I can afford to be. They let you double dip (so for each stay I get airline miles and HiltonHonor points!) and they are everywhere!!! Mostly I stay with the Hampton Inn properties...that's my price point!

I have mentioned the new Hampton Inn near the MarketMatch headquarters to you in the past...remember the remarkable customer service I received from Jason a few months back (go back and read the blog from September!). Well, he did it again.

Every few stays at a Hilton property, I receive an email asking me for 10 minutes to complete a survey to evaluate the quality of my most recent stay. I finish the survey every time they ask because the way I see it, if they didn't want to know, they wouldn't ask. This has been going on for YEARS. The more I do it, the less I think the information actually goes anywhere.

So, I filled out the survey for my most recent stay at the Hampton Inn near the Dayton Airport...They scored a perfect score on nearly everything. Toward the end of the survey, they asked questions about the sundry shop in the lobby of the hotel...this was not a perfect score for me. Hilton is notoriously faithful to Pepsi products, and I have been a faithful Coke-a-Cola girl my whole life. So, when they asked an open ended question about how they could make the sundry shop better, I replied with, "I wish they carried Coke products...Diet Coke to be specific," and left it at that. A few more questions and the survey was over.

The next morning, I was in my office checking email, and imagine my surprise when I had a new message from Jason, the General Manager of the Hampton Inn near the Dayton Airport...His message simply said, "If you wanted Diet Coke, you should have asked...I stock the cooler myself and try to keep a good mix, but for our loyal guests we want to make sure to have what they want. I will have Diet Coke for you when you return in November."

HOLY CATFISH! They actually share that information with the general managers? I had no idea!!! I am so glad to hear that those surveys don't go into the survey abyss!!!

So, what's my point? I have more than one...

1. Do you reward your loyal customers? You should. It doesn't have to be costly, but it does have to be warm and fuzzy.

2. Do you ask your customers about their recent experiences? WHY NOT?!?!?! You should be.

3. If you are asking what your customers think, do you take the feedback seriously?
3.5 Do your customers KNOW you are taking the feedback seriously?

4. How do you communicate the changes you will implement?

My grocery store has teamed up with United Airlines and for every $250 I spend at the grocery store, I get 125 United Airline Miles. You need to reward loyalty and give your customers a reason to not shop on price. There is a Super Wal Mart two blocks away from my grocery store...they carry the same products at a much lower price, but I really like to travel so those miles mean more to me than a few bucks at the grocery store.

Creative loyalty rewards can be what makes you different...What makes you different is NOT your customer service or the fact that you are a community bank...everyone says that.

No great reward comes without great risk. Dare to be different!! Reward your customers creatively!

Jenna

The Power of Print Media (or lack thereof)

TCG is holding a monthly teleconference for marketing directors from their member theatres. It seems that everyone is talking about how major daily newspapers are losing power with their declining number of subscribers. Lately, I have been noticing something similar in the Washington, D.C. area. The major daily paper is The Washington Post, and according to our sales reps, it is the fifth largest newspaper in the world when looking at circulation. So, you would think that a strongly positive or negative review could potentially determine the success of a production (much like how New York City waits for Ben Brantley to send his word from on high).

To be honest, I have seen the exact opposite since I have been at Arena Stage. Arena Stage opened its season with Moises Kaufman's world premiere 33 Variations. The show got a lackluster review from the Post critic but was an immediate hit with our audiences. The second show of the season was Lisa Kron's Well which got an amazing review from the Post critic, but didn't seem to have the word-of-mouth that 33 Variations did. From a financial point of view, even with a not-so-positive review, 33 Variations performed very well. In years past, I have heard that if a show didn't get a positive review from the Post, it was very unlikely to succeed at the box office. However, that isn't the case today. So if potential audiences are no longer being influenced by reviewers from the major dailies, who are they listening to?

30% of 0ur audience when asked states that their decision to purchase a ticket was influenced by word-of-mouth from a friend. That is way above any other factor. So I have started to concentrate on how word-of-mouth travels, especially as it relates to new technology. New technology allows discussions to happen instantly. Audience members can text their friends from intermission, giving either a thumbs up or thumbs down. These are the people who have the real power -- the audience members themselves. And that is how it should be. Empower your audiences to be your advocates and sales will increase.

I would also pay attention to a relatively new website called Yelp. Yelp.com allows the average person to experience an event and then review it online (much like a travel website). However the Yelp community is growing very rapidly. Recently I invited several "yelpers" to attend a performance of a show and asked them to honestly review the production. We treated them exactly like a member of the press. I would encourage you to do the same. The power now resides in the hands of "citizen reviewers" instead of the reviewers from the major dailies.

Timing is everything

I rely heavily on many websites to help me research the financial institutions I work with...one of which being www.FDIC.gov. It has been a point of frustration for me that half way through the current quarter, the previous quarter data is not available yet. Really? It seriously takes that long? UGH!

This week I am focusing on a presentation regarding the various avenues a financial institution can pursue for e-marketing. I have some incredible references and am excited to give the presentation.

(Stick with me...I may seem all over the place right now, but I have a point...I promise!)

Last week, I had the pleasure of attending the ABA Marketing Network New England Chapter Fall Marketing Conference. It is a mouthful to say, but essentially all these incredible New England bank marketers get together, network, learn and generally have a great time. This conference focused on some new technology used to further the banking industry such as remote deposit capture, e-marketing, and new media. It was a great opportunity for all of us.

I sat in on the new media presentation and had an "A-HA" moment that quickly changed to a sinking feeling and then one of guilt and regret. So, here's the thing...Blogging is considered to be a new media in that is a way to share ideas, advertise and present information in a non-traditional format. This new media has no boundaries and knows no industry. It's an opportunity for us all. But there's a catch...

USE IT OR LOSE IT!

If you make the commitment to blog then you must blog and blog consistently, and I have failed you. The feedback we got when we began this blog was wonderful. You all saw the value in what we were communicating with you, but have consistently delivered our blog to you inconsistently.

Blogs are a very important tool. For many non-business it is an avenue to praise a business or express dissatisfaction with customer service. For others, it is a way to communicate a message, promote a service, or even get the word out on a new idea.

Here's the ultimate lesson I have learned about blogging... The commitment to blog is a promise you make to communicate with the people who want to listen to what you have to say. When you deliver on your promise inconsistently the people who used to want to listen to what you have to say become indifferent. This is a bad thing.

It is my intention to do a few things with this blog entry.

1. Make certain that all the bank-marketing-gurus who are considering implementing a blog for their bank understand that it is a promise you are making to the on-line community to deliver information consistently. It is a very powerful marketing tool that should not be taken lightly.

2. Apologize to you for not being consistent in our delivery of information and try to earn back your trust and loyal readership.

3. Recommit to the consistent delivery of this blog.
I, Jenna Rowland, PROMISE to blog at a minimum, every other Monday, starting TODAY.
You can write it down on your calendar...I will be back on Monday, November 5 with new words of marketing wisdom to share with you.

So, in a nutshell, don't be afraid to explore new media to promote your bank and your ideas. The opportunities are endless...did you know Wells Fargo has a branch in Second Life (not sure what that is? email me and I will show you...jrowland@marketmatch.com...more than $1million were spent there in the last 24 hours).

Try a blog, or at least think about it. It's free, it's easy, but it IS a promise that you make to your loyal readers. New media is an avenue to new opportunities. Find the one that reflects the essence of your brand and go for it!

See you on November 5!
Jenna

p.s. If you set up a RSS feed you will know when we have new posts on our blog!

Virginia is for lovers...

First off, my apologies again. I have been on sabbatical from my blog for a little over a month. Soon after coming on board as the Director of Marketing & Communications at Arena Stage, we announced our groundbreaking on the Mead Center for American Theater. The company is in an amazing place in its history, and has raised over $100 million towards its $125 million goal for the new complex. But with growth comes growing pains. With that said, when we announced that Arena Stage would be breaking ground on the Mead Center in January, we also announced that the company would cease to operate in southwest DC for 2 and a half years while the building was being built. Instead, we would transfer our main headquarters to Crystal City (a section of Arlington, VA) and perform at a newly renovated, underground theater and at a separate DC location called the Lincoln Theater. And all of this would happen in a matter of months in the middle of our 2007-08 season. So how do we move a quarter of a million people annually to a separate location, across the river in another state from a place where people have been going for fifty years?

Over the next two months, I will be blogging about what we at Arena affectionately refer to as the "transition." For an arts administrator and arts marketer, the "transition" is incredibly complex, and therefore very interesting. I love taking on projects which I know will push me. So far I have become much more adept in city zoning and sign regulations than I ever thought I would be.

One of the goals of our transition communications strategy is to make the move as easy as possible on our long time subscribers and supporters. The new location is only three miles away from our permanent home, however in DC, the Potomac River serves as a physical barrier. In my eyes, we have one shot at getting our subscribers from Maryland and DC over to Virginia. If their first experience is difficult and aggravating, they won't return. So we have developed a reasonably extensive campaign to alleviate the stress on these folks.

Part of this campaign involves using PURL technology. I first learned about PURL technology when I was working as the Director of Marketing and Communications at Americans for the Arts. PURL stands for personalized URL. A direct mail piece is created for each individual with their own personalized website landing page. When they visit the landing page, they find information specifically tailored to them. A personalized website might have an address like this: http://www.chadbauman.arenastage.org/. We are sending all of our subscribers and ticket buyers a personal note from our Artistic Director with a PURL listed in it. Recipients will then go online, type in their personal website address, and will find the following: step by step directions from their house to the new theatre, a seating diagram showing them the location of their new seats, promotional offers from local restaurants, and an opportunity to sign up for our e-newsletter. I at first was a little concerned that some of our long-time subscribers wouldn't be on the internet, however Arena Stage conducts annual market research that shows that a huge percentage (over 95%) of our total audience is on the internet.

Hopefully the PURL campaign will be one tool that eases the transition to our temporary location.

Smells Like Teen Spending

I was painting my deck and fence yesterday with some high school students that my wife recruited (one benefit of having a high school teacher as a spouse is that you are never at a loss for good baby sitters and cheap physical labor). As we were painting, one the girls whipped out her cell phone and started to hold a very public conversation with her friend about borrowing $10 so that she can put a Homecoming dress on layaway (“Borrow” $10?!?! I’m about to pay you much more than that in cash!)

That’s my point. Here is a teenage girl, an hour away from cash income, and she’s already working a “loan” to cover her spending. This is worse than a payday loan – it’s a post-payday loan.

In reality, aren’t these teens a fantastic market for us to target?
- Many have ATM/Debit cards
- Too many have credit cards
- They have nothing but DISPOSABLE income

But while targeting teens for checking and credit cards, I feel we have a responsibility to help them become more fiscally sound banking customers too! A few ideas came to mind as I lay in bed last night pondering this subject:
- Why not offer a special low balance, low interest credit card for teens. Too many companies take advantage of teens with 20%+ interest rates. If a card only has a $500-$1,000 limit, where’s the risk vs. the gain of building great relationships at a young age?
- Why not make students pass a written test about saving and credit before credit or debit cards are approved? If nothing else, it would help them to think about money in a new way and would differentiate our efforts in the minds of the student’s parents (and don’t we want to be hero’s in their eyes?)
- Many of us sponsor school activities, but how many of us really leverage them? Why not negotiate to hold a student focus group at the school. Use it to learn:
. - What percentage of students has a checking account?
. - Did they simply choose their parents bank or credit union?
. - Do they understand how interest works on credit cards
. - What features are they looking for (text updates, online banking, etc.)

I’ll have these students back tonight to finish the painting; maybe I’ll hold my own teen focus group and get back a little more for my investment than a beautiful back yard.

Cheers.

Customer Service at its finest!

Just when I thought I was out of things to talk about, I had a WOW experience!

Once a month, I travel to our corporate offices for some face-to-face time with the rest of the MarketMatch team. During my trip, I usually stay at a chain hotel that offers a great rate, a below average free breakfast and rooms that are pretty spartan (and not always very clean). Each time I stay, I usually end up switching rooms at least once because the room they originally gave me either smells like a smoke shop or is dirty enough to refuse to take your shoes off. But it's quiet, I feel safe and the staff is pretty nice. In my mind, that (almost) makes up for the shortcomings.

As I prepare for my October trip, I learn that the new Hampton Inn has opened and is ready for my reservation. I am already a HUGE fan of Hampton properties (well, Hilton in general is great, but I love the Hampton price point!) so it took me all of half a second to look into their rates.

Imagine my disappointment when I realized that their rooms are, on average, $30 per night more expensive than the previously mentioned not-so-clean chain hotel. To me, that $30 would be worth it, but in the interest of being economically responsible, it would be best to stay at the cheaper place. But just in case, I asked to speak to the manager.

I told the Hampton Inn manager (his name is Jason) of my experiences with the other hotel down the street and that while I am already a HiltonHonors Silver VIP member, I will have to continue my relationship with the other hotel because of his price. And that's when it happened. He offered me the AARP rate that split the difference. Now we're talking. A better night sleep, better breakfast, double dip points (that's what Hilton calls it when you earn hotel points AND airline miles in the same stay) and the peace of mind that the hotel is clean...it is brand new!!! No more sticky comforter!

I did however hesitate in that he didn't match the price, he only split the difference. Jason immediately noticed my hesitation and quickly jumped in with, "how about this...you stay here in October at this rate and when you get here we will talk about a permanent negotiated rate for all people who travel to this hotel for your company." DONE!!! I was so happy I could hardly stand it.

So, here's the obvious question...how does this relate to what you do? And the answer is...VERY CLOSELY.

While we all know that, as bankers, we never want to negotiate price, BUT, as bankers, we also know that our best customers can be tempted by the price down the street. And while our customers will still continue to do most of their business with us, when it comes to those customers who are business owners (or in my case, an employee) they will do what they have to in order to do what is best for their business. Even if that means they settle for mediocre service, no frills and fewer choices. In order to be economically responsible they sometimes have to settle for less to save more.

So here's my question to you...is it worth splitting the difference to get the business and fill the room? An occupied room at a lower rate is better than a vacant room. Or in your terms, a big loan at a lower rate is better than no loan at all...apply this to deposits...an account at a higher rate is better than no deposit at all.

I know that this is, essentially, negotiating a rate. However, I would argue that it is more about managing a relationship than negotiating price. And this may not be right for everyone...maybe just your VIP customers. And it really boils down to empowering your employees to do what is right to get the business and enhance the relationship with your best customers.

Your competition wants what you have...YOUR CUSTOMERS...especially your BEST customers. What will you do to keep them?


Not sure where to start? Call me. I'll tell you!

And to all of you ABAMN members, see you in Baltimore!!!

Jenna

The Marketing Silo

First off--apologies for not writing much lately. As you know, I am in the middle of transitioning jobs which put me in a place where I was working two jobs at the same time for a period of three weeks. Needless to say, that didn't give me much free time (or sleep). Now that I am settling in to my new position at Arena Stage, I am happy to say that I would like to concentrate a little more on writing.

Today's topic: the Marketing Silo. I find it interesting the more I work with large organizations, mostly from a consultant stand point, the more I find marketing departments which are functioning almost as a separate entity from the rest of the organization. For some organizations, the marketing department is somewhat of a mystery for people who don't have an external relations function in their job.

For most arts organizations, marketing is a critical function. Due to tight cash flow situations, marketing departments are expected to consistently hit their goals while reducing expenditures. To accomplish this, marketing must be looked upon as a central decision-maker for almost all operational decisions, not just the ones that obviously affect external affairs. For example, a shift in valet parking companies might cause longer waiting times resulting in unhappy customers and subscriber attrition. Although valet parking might not be viewed as a marketing function, it definitely affects the customer. I would encourage marketing directors to become involved in all decisions that affect or touch the customer.

With that said, marketing directors need to become ambassadors, especially at large organizations. Go out of your way to meet everyone, and encourage everyone to give you feedback on the activities of the marketing department. Yes I know, you might get that person who is incredibly nit picky and will visit you every week trying to convince you that if you increase the point size of the text in your ads one point that you will bring in exponentially more income. However, I have been incredibly lucky to work with brilliant people who came up with amazing ideas whose job function has nothing to do with marketing.

Marketing departments are being taxed with becoming more creative as budgets are cut and sales goals increase. If you work at an arts organization, you have a wealth of creative people just outside your door--reach out to them. Share your marketing plans. Invite feedback. Give thanks and recognize all contributions.

In just my very short time at Arena Stage, I have been visited by our Producing Artistic Associate, Master Sound Engineer, Director of Audience Development, and several others who have floated some absolutely fantastic marketing ideas my way. So if you by chance are working in an environment where marketing is consider an island to itself, break down those walls and eliminate the silos, and I guarantee you will be happy with the results.

CRM - The Forgotten Marketing Tactic

Hi Folks!
After a nice summer break, I'm back with important information on customer relationship management (CRM). Most companies, public, private and entrepreneurial typicaly get so caught up in revenue generation and customer acquisition they forget about retention and managing the relationship with current customers.

Is revenue and new customers important? Heck yeh. But don't forget that an effective CRM plan will also positively impact your bottom line and overall profit margin.

A Harvard Business review study on customer profitability and lifetime value revealed that companies can boost their profits by almost 100% by retaining just 5% more of their customers.

A study by CRMGuru found that company’s that successfully implemented retention plans increased customer satisfaction by 51%.

It's important to understand the complete Customer Relationship Cycle and what you should be striving for. The goal should be post-satisfaction stage and include loyalty, and ultimately, advocacy. This is where many companies, big and small, fall short.

Customer Relationship Cycle
--Awareness. Prospect recognizes need for service
--Knowledge. Gained thru PR or promotional presence
--Consideration. Prospect weights needs vs. solution
--Selection. Prospect seeks solution based on ease of information, opinions of others, how your product meets their individual needs
--Satisfaction. Prospect becomes client (many companies stop efforts here -- after the sale)
--Loyalty. Customer demonstrates commitment to firm by repeat purchases
--Advocacy. Customer becomes advocate of your product and actively promotes it. This is the most personal relationship you can have with your customer!

According to permission marketing guru, Seth Godin, the process to move a prospect thru the sales cycle is:
--Stranger to Friend
--Friend to Customer
--Customer to Multi-buyer
--Multi-buyer to Advocate

You see, the "advocate" is the golden goose. This person not only is loyal to your company with repeat purchases, but is your #1 free marketer – they tell their friends, family and business associates about your company's products and services and they're not even on your payroll!

So make sure you include a CRM Plan as part of your overall Marketing Strategy and benchmark meterics before and after plan is implemented...I'm sure you'll see favorable results.

A Question Filled Tuesday...

OK...so here I am thinking about things...many things. This morning I was up early driving to Mount Pleasant, MI to visit a client. You should have seen the sunrise this morning...it was AMAZING....but I digress.

My post this morning is in the form of several questions....more thought provokers than anything....here it goes:

• When was the last time you had lunch with 3-4 customers and asked them about their experience at the bank?
• Have you recently held a small "focused meeting" with several front line staff? Asked them what they are hearing?
• Have you mailed out personal invitations to 5 customers this week to visit you for a cup of coffee?
• Does your bank track referral frequency from customers?
• Do you know who is your largest depositer? Loan holder? Commercial customer? Trust customer?
• Have you come in the back door of your offices and walked backwards through the experience of a customer...as you know the bes way to proof-read a document is to read it backwards...I bet the same can be said for auditing your branch experience!

Many questions...no real "right" answers...other than YES and/or I will. These are important gut-level checks that are so easy and inexpensive, yet widely missed.

Take a stroll around...and see what you see!

Cheers!

Bruce

On a personal note...New Job at Arena Stage

After almost a year as the Director of Marketing & Communications at Americans for the Arts, I will be leaving the organization to become the new Director of Marketing & Communications at Arena Stage in Washington, DC. Arena Stage is the largest of the six major non-profit professional producing theatres in the metropolitan area. They currently operate three venues under LORT "B+," "B," and "D" contracts and see roughly 275,000 patrons per year. They are very close to finishing a $120 million capital campaign to build the Mead Center for the American Theatre, a 250,000 square foot, three-theatre complex to be opened in 2009-10. I will be responsible for leading their marketing, communications and public relations teams. Most exciting to me is the opportunity I will have to work on some amazing projects at a truly legendary theatre.

This is a bittersweet moment for me because I love Americans for the Arts. The organization does some amazing work on behalf of artists in the United States, however my heart belongs to the theatre. Americans for the Arts will always have my support and I will continue to assist the organization in any way that I can. I will continue to serve as a trainer for the National Arts Marketing Project including previously scheduled sessions in St. Louis and Delaware.

Are bankers really thinking like retailers??

A very good friend of mine is a former car dealer and now leads the Greater Dayton Automobile Dealers Association....I share this to provide a frame of reference for Tom's words of wisdom.

He always says, when times are tough or challenges lurk ahead, that we have to "retail our way out of this..." I have heard it many times and I stopped to think about it just yesterday.

What Tom means is that we have to put energy, focus and many times financial resources toward overcoming problems...that means when sales are slow, you ADD more advertising, promotion and marketing. Traffic generation is critical to a car dealers success. Now think about banking...and more specifically, your bank. When margins are squeezed, loan volume dips, or competition is extra tough...does your marketing investment increase to compensate or are you on the sidelines trying to save the investment?

I certainly hope you are making the case for increasing the investment to support and overcome the challenges. However, IF we have not built the case that, 1st, marketing IS an investment vs. expense...that conversation is going to be a tough one.

So, how do I build the case for marketing being an investment vs. expense? Three magical letters... R - O - I !!!

You should be tracking EVERY marketing dollar spent and categorizing them into one of three categories....(1) ROI Trackable (2) Community Involvement/Donations (3) Cost of Doing Business.

ROI Trackable
These are ALL marketing, advertising and promotional investments. Home equity promotion back in April...Yep. Summer loan promotion...Yep. The pending fall checking push...Yep. We need to track the results, make assumptions and quantify the impact and match it against the investment required to make it happen. I firmly believe you should have a "floor" that protects your investments...say 150%. That floor is the lowest projected ROI that you will move forward with a program. Imagine being able to go to your CEO and say, with heart and passion, that every program is generating 150% or more....and the ones that do not...we analyze and make better!

Community Involvement
This category is for the "must do's" and "we have done it for XXX years" categories of expenses that simply cannot be measured or the measurement does not apply because you will be required/urged to do it anyway.

Cost of Doing Business
These are expenses...yellow pages, online hold, etc. that are simply required for doing business as a bank and should not be help as accountable for ROI measurements. However, diligence in managing these items will certainly win you big points!

Once you categorize your activities...you have clear guidance on what to track and what to monitor...we overlook nothing! So...how do I calculate the ROI...a discussion for another day...or simply give me a call!

Cheers!

Bruce

Future Speaking Engagements...

In the next few months, I have a couple of speaking engagements lined up. If you are in the area, I would love to see you at one of these events:

2007 Delaware Division of the Arts "Arts Summit"
October 1, 2007
Keynote Presentation: "Communicating in a Whole New World," Chad Bauman, Americans for the Arts
Other Speakers: Elena Park, Metropolitan Opera; Mark Brewer, President of the Community Foundation of Florida; JD Hixson, Patron Technology; The Honorable Ruth Ann Minner, Governor of Delaware

St. Louis Regional Arts Commission Marketing Training
August 31, 2007
Presentation: "The Role of Technology in Reaching Generation X & Y"

Artists in Second Life...

By now, most people have heard of Second Life, the virtual world sensation that is sweeping the whole world and has attracted millions of visitors. It has also attracted the attention of some prominent artists, including Molly Smith, Artistic Director of Arena Stage, who spoke about Second Life at the TCG National Conference in Minneapolis this summer. The past couple of months have seen some really exciting projects come to "life" in this virtual reality:

Second Front Performance Art Group

Jeremy Owen Turner, also known as Wirxli Flimflam, is an online performance artist and a front man for Second Front, a group that stages events and performance art pieces in Second Life. Second Front is a pioneering performance art group in the online avatar-based VR world, Second Life. Founded in 2006, Second Front emerged as the first performance art group in Second Life and quickly grew to its current 8 member troupe with artists from around the world including Italy, St. Johns, Canada, and the United States. Second Front found its roots in the theatre of the absurd movement, and currently stages performances that challenge notions of virtual embodiment, online performance and the formation of virtual narrative. Second Front is perhaps best known for their performance piece Breaking News, a text-based performance in which Second Front stormed the Reuter's building in Second Life announcing 'Breaking News' headlines about Second Front's “clandestine operations and notorious affiliations in-world.”

Artropolis

Artopolis is an artist colony like no other in Second Life. This tropical paradise hosts fifteen studios scattered around a flourishing jungle environment, with tons of places to sip a virtual Mai Tai with your closest Avatar friends while enjoying the sights. The goal of this simulated island is to promote all of the arts, which includes art, music, poetry and theater. This sim was created by the combined efforts of Filthy Fluno (Manager), Esch Snoats (Builder), Xtasy Veil (Terraforming and Landscaping) and Maxim Deharo (Financial Management.) It took about a month and a half to complete and is still considered a work in progress as the sim will always adapt to accommodate the community of artists who call it their home. People are encouraged to visit the artist colony, and while you're at it, you can also support the artists by purchasing their work. One of Second Life’s most influential artist-celebrities, Filthy Fluno (real name Jeffrey Lipsky), has a high profile gallery established on Artropolis.

Mixed Realities & the Andy Warhol Foundation

In the art world, the Andy Warhol Foundation has helped fund exhibitions and projects in Second Life, including the well-know exhibit “Mixed Realities.” "Mixed Realities" was an international juried competition that resulted in the commissioning of 5 networked art works to be exhibited/performed in 2008 at Turbulence.org; Huret & Spector Gallery; and Ars Virtua, a gallery in the online 3D rendered environment, Second Life. Each commission is $5,000. "Mixed Realities" challenges artists to created simultaneous exhibits in three distinct environments: the Internet (Turbulence), an online 3-D rendered environment (Ars Virtua), and physical space (Huret & Spector Gallery). The works will evaluate the concepts "virtual," "simulation", and "real" and will feature a series of experiences in which participants connect with one another and contribute to the creation of the work.

Customer Service at 37,000 feet?

I know that at some point you all are going to get sick of our airplane stories. But in my opinion, for as long as there is a lesson we can learn from the airlines we should continue to share these experiences. That being said, listen up!

Like Bruce, I seem to travel quite a bit. Monthly, I fly from Denver, Colorado to Dayton, Ohio. Sometimes I afford the direct flight, and others, it is just a good decision (read: economic responsibility) to connect in Chicago.

This week, I boarded my flight from Denver bound for Chicago, O'Hare, on my way to Dayton. I sat next to a mom who was traveling with her two children, on their way to visit grandparents in Northern Michigan. Being from Michigan myself, I was excited to talk about old home with my new friend and her kids. Ryan, her 4 year-old son, had broken his femur bone and was in a hip to toe cast...and a VERY good sport about it. Abby, her roughly 18-month old daughter was as cute as any toddler I have ever seen.

Somewhere around "flight attendants please be seated for take off" Abby started to SCREAM...and that is in all caps because Abby was in a full-fledged, red-faced, no-tears, award winning temper tantrum. About 20 minutes into the flight, the people in first class are starting to turn around and glare at us...mostly me, because I had the luxury of sitting on the aisle.

Now, I felt bad for the mom, who had apologized to everyone around us and even tried Benadryl for Abby...but Abby had an ear infection, so I am sure you know how badly her ears must have hurt.

After 45 minutes of the constant SCREAMING in my ear, I realized that I had two choices. I could 1.) go completely insane and take everyone with me, or 2.) start laughing.

Any of you who know me well know that I teeter on the edge of crazy anyway, and that I love to laugh. So, obviously, I chose to laugh...and laugh hard. Which apparently was the right decision because everyone around me started to laugh too. Is it possible that the giggles are contagious? Apparently so.

Finally, it was our turn for beverages. The beverage cart had trapped me between itself and screaming Abby. The giggling stopped, but the smile lingered...and that's when it happened. I couldn't believe what I was hearing. The flight attendant looked at me and said, "You have a beautiful smile. All smiles are beautiful when they are shared, but yours is really pretty."

That was the nicest thing anyone had said to me in a really long time. It was almost as though Abby had quit screaming and the turbulence had settled. But neither had. I was just happy and didn't really care what else happened that day...it was a GREAT day.

So, how does this relate to our version of customer service? Very closely.

This compliment may not have been enough to fly United faithfully for the rest of my life, but it was enough to make me want to seek out that women's flights so she could be my flight attendant every time, I would do it in a heartbeat.

So, when was the last time you said something unexpected and complimentary to one of your customers? I am guessing it has been a while. If your tellers could make it part of daily routine to find the good in every one of your customers...imagine how your customers would feel and what they would say to their friends and family. I will even go so far as to say that when you begin to find the good in others, you will also begin to see the good in yourself.

A smile isn't too much to ask. And when you smile, everyone around you will too. Share the wealth!

Jenna

The Experience: When we least Expect it...

As many of you know, I fly a lot. I tend to fly Delta the most...and usually have to go through either Cincinnati or Atlanta to get anywhere. It is one of the "experiences" that I dislike about Delta. This leads me to a story about handling situations that routinely arise in business...and how to handle them in a manner that is not only true to the Brand but enhances the experience.

About 18 months ago, I was on a Delta Flight that left Dayton for Atlanta on my way to Minneapolis (you don't see the logic in that route, either, do you...but I digresss). The flight was routine in every sense and the day was a great day to fly...sunny, warm and clear. As we made our approach to Atlanta all seemed normal. As we we descending and approached the runway, all was still as expected. Nothing fantastic, just as what was expected. As we prepared to touch our wheels....I was thrust back in my seat as the pilot put the floor down on the throttle and we quickly became airborne again. What happened? Close call? Problem with the plane? It was not clear....and NEVER became clear! As we circled back around and came back to land....this time for real...no one said a thing-- not the captain, not the flight attendants, but rest assured the passengers were sure talking about it! As we landed and taxi'd to the gate...still nothing. We prepared to get off the plane...still nothing. We were ALL left up to our vivid imagination as to what happened. As I walked down the terminal, some of the stories being created or bantered around were pretty dramatic...and NONE were good for Delta! They missed their chance to manage the situation!

Now, compare that to a recent flight that I took on Southwest Airlines. We were departing Columbus, OH for Little Rock Arkansas (which I love by the way....Arkansas is gorgeous!) Another routine take-off, cruise and preparation for landing....until we approached the landing. Here we go again, I thought. But the plane hit like a ton of bricks on the runway and the pilot brought it back down for a 2nd, slightly smoother, landing...we made it! Now...a critical brand decision was made...or could be made...in this situation. Follow the Delta lead and ignore it and NOT manage the brand...or do something different. The pilot made the brand decision that was different!

As soon as we taxi'd off the main runway, the captain turned on the PA system and made an announcement..."Ladies and Gentleman, I would like to be the 1st to welcome you to Little Rock International Airport...the time is...the temp is..., etc." I was thinking he was going to ignore the rock hard landing. However, at the moment of truth...right where our brand, reputation and future opportunity for sales lies (yes, at your bank/CU, too!) the pilot made a well-trained decision. He said, "I would like to also share with you a policy here at Southwest Airlines...that there is never a charge for the 2nd landing! Have a great day!"

There it was...not an explanation...but a Brand Saving action that lived up to the brand personality of Southwest Airlines. As I walked out fo the gate and down the terminal the conversation was more laughter than concern and people saying "that is why I fly Southwest...I love it."

The Brand lives on and is actually strengthened by what happened.

Now think of your institution...what path would your staff take the Delta "A" path or the Southwest "B" path? Ask yourself and then go into your lobbies, call your call center, etc. to see what truth lies at the moment of the Brand opportunity!

It takes consistency, a stated purpose, and a clear understanding that everyone has a role in the upkeep and delivery of the brand....

Cheers!

Bruce

Motivating Employees to Cross-Sell

ETSU02

You make a very good point in your comment to my last post. Last week was a little crazy and I was on vacation for a few days and unable to respond...so let's jump in and get started.

In my ever-humble opinion, I believe that employee motivation is directly tied to expectations. The two are so closely related that it is difficult sometimes to tell the difference. I would also argue that cross selling and sending referrals internally is about as optional as balancing the teller drawer.

In order to motivate your employees to do more cross selling, we should talk about the current culture within your institution. Does the initiative come from the top of the line and trickle down, or is the marketing department in charge? In my experience, when an institution tries to implement a sales and service culture, but is not initiated by the senior managers/CEO, it is doomed to fail. I have even run across institutions where the CEO was responsible for the sales and service culture shift but it still failed...this later failure is completely related to the lack of accountability on the part of the employees.

Shifting your culture will be one of the most difficult things you have to do. Notice I say, "have to do." This culture shift is not only necessary for success, but it is mandatory for growth. If your employees don't embrace the philosophy of better serving your customers, it will be difficult for you to grow (hence the attrition issue you mentioned in your original comment). Your competition really only wants what you have...YOUR CUSTOMERS.

Teaching your staff to better serve your customers (i.e. cross selling) is truly like teaching an old dog a new trick. However, that being said, it is still executed with great success by MANY financial institutions every day. It takes time, but here are some baby steps to help you get started.

1. Create a plan, include the expectations of each employee type and the associated rewards AND punishments for not meeting the expectations.

2. Set goals for EVERYONE with a time line for meeting those goals.

3. Training

4. Training

5. Training (it is listed three times, because not only is this THE MOST critical piece of the puzzle, it is not a one time deal. Training needs to be on-going, progressive, and refreshed frequently)

6. Measurement. What good will shifting your culture do if you can't say to your employees, "thanks to your hard work and dedication to serving the customers of our bank, we have 1000 new customers this year and our asset size has increased by 10% in the last 12 months."

I hope this will help you get started in the right direction. I have updated my profile with my email address and my phone number, should you have any questions or like additional information.

Good luck, and good selling!

Jenna

Customer Relationship Management (CRM) - Don't overlook it's importance!

The following are efforts that can be used for bonding or conversion. For bonding, it can help build relationship and add to LTV (lifetime value) of customer:

--An effort doesn't need to lead to a sale or inquiry to be considered effective
--"Passive" communications, such as a birthday card, a thank you note or a "just because" card assist in CRM efforts
--Freemiums all add value (i.e. eBook, a .pdf of valuable editorial content or white paper emailed to leads and/or subs)
--If all of your communications with someone are about getting something from them, they will tend to tune them out and not be as responsive. But if peppered in that communication you have a genuine peer-to-peer relationship message, they will more open to other messages, and will feel like you are building and investing in a genuine relationship. (insidedirectmail.com)
--During rough times, don't bury your head in the sand, use this opportunity to communicate with your clients. Send a personalized email, audio email (with recording), schedule outbound calls (either live or voice reach), or schedule a teleseminar. You can't control external factors, but you can control how you communicate and reinforce your commitment to your clients.

All Marketers are Liars. Well, we shouldn't be...

According to marketing guru Seth Godin, all marketers are liars. This is no attack on Seth, as I view him as a rock star in the marketing world, but I am writing this post to simply ask the question, wouldn't we be better off if we weren't liars? As I write this post, I am reminded of a second book, All I Really Need to Know I Learned in Kindergarten. We were taught then that lying is bad, so why is it accepted now?

We might be tempted to "spin" the truth when things aren't going our way, especially in crisis situations. However with the speed of information these days, the more you spin, the more likely you will be caught and exposed. The role of the citizen journalist has become paramount in the information age, and due in part to the popularity of user-generated content and newer technologies such as blogs, anyone can write an expos'e. So if you are caught in a crisis, avoid the temptation to spin.

Tactics for crisis communications:

1. If you have made a mistake, acknowledge it as soon as you realize it. We all make mistakes, and we have all been in situations where we have had to apologize. The first step in any crisis communications plan should be to acknowledge the mistake, own the mistake, and publicly address it in some form (i.e. an apology).

2. Transparency is the key. Many media outlets love a good juicy story. However, there isn't a story to break if you are the one breaking the news. Don't let the media beat you to the punch. Be as transparent as you can be. Don't hide or restrict information flow. It will get out, and when it does, you will look like you did everything in your power to prevent it, putting you in a compromised situation.

3. Seek feedback from your key stakeholders. After acknowledging the situation, apologizing for the situation, and keeping your stakeholders (or customers) updated, seek their feedback. Invite them into the process. You only exist because of them. You are there to serve their needs. If you haven't done that very well or have offended them, find out how you can be a better partner.

4. Release an action plan. There are those who will be satisfied by an omission of error and an apology. There are others who could care less about an apology, but want to know that a similar error will not occur in the future. They want action, and you in turn want to avoid the same mistake as well. So examine the error or situation, consider the feedback you received from your stakeholders, and develop an action plan to address the situation. And don't be shy with it...share it with all.

Remember, business is about relationships. Relationships with the press. Relationships with your stakeholders. Relationships with your customers. There isn't a business in history who hasn't misstepped. How you handle the misstep will communicate a lot to your customers. Although unfortunate and damaging, it can also be a perfect opportunity to solidify your relationships.

What's Next?

Happy Friday to everyone out there in Bloggerland!

I have had this window open since I got back from the gym at 7:00 this morning...and am just now getting to sending you my Friday message, but it seems as though I am at a loss for words.

I have been trying to think of a personal story that will somehow tie back to a brilliant bank marketing idea but am coming up empty. For those of you who know me well, you know that being at a loss for words probably means someone has wired my mouth shut...But today is just one of those days. When you have as many stories in your head as I do, it is sometimes difficult to tap a memory unless someone sparks me.

So here's your Friday challenge...Me. Yep, that's right, I am challenging you to challenge me. What do you want to know? What challenges are you facing at your institution that you want a little help with? I am offering to you a wealth of knowledge...all you have to do is ask. Post your questions and ideas as a comment to this post and I will respond to as many as I can!

And to the first to stump me, a copy of my favorite marketing masterpiece...a book of unparalleled brilliance...the name of which I will share in my next post, as well as why I think it's such a GREAT book!

Good luck, and happy challenging!
Jenna

Yardly and Vanessa

My first cross-country move happened when I was in my mid-twenties. I was moving from small-town Michigan to Plano, Texas. Plano is a northern suburb of Dallas. I picked my apartment based on two things...proximity to my office, and proximity to the Stonebriar Mall. This place was HUGE!!! It was the home of all the major chain stores, a few specialty boutiques and my first Nordstrom experience.

The Nordstrom service standard is no big industry secret. There are retailers all over this country that aspire to reach half of the Nordstrom standard. One particularly boring Monday evening, I decided it was time to try jeans that didn't come from The Gap. So, to Nordstrom I went. Upstairs, I found all of the really (expensive) hot brands...Citizens, 7, and a whole host of entirely-too-expensive-for-my-blood jeans. And unless you are a very slender woman, some of these brands just aren't quite right, even if you can afford them!

After trying on countless pairs of jeans and deciding I would come back in 20 pounds...errr...a few months, Yardly found me. She showed me JAG jeans. They are exclusive to Nordstrom and are still to this day my favorite jeans. But that's not the point.

About a month later, I was asked to read a passage at a good friend's wedding and was also asked to not wear a business suit while reading...I officially had nothing to wear. I went back to Yardly. Not only did she remember my name and the size jeans I was looking for, but she made me feel like a long lost friend. When I explained the situation with the wedding, the reading and needing a dress, Yardly walked me over to meet Vanessa Williams. Yup, that was her real name. She was equally beautiful but instead of being an actress/singer, she was a personal shopper. And she was from Grand Rapids, Michigan!!! YAY! Someone in Dallas who understands the mid-west and how DIFFERENT it is!

Vanessa took as much time as I needed to fit me for a dress, the accompanying jewelry, undergarments and shoes, and I bought it all ($$$$) and happily! While I was there, she took my measurements and made notes about my likes and dislikes. I wasn't sure why, but whatever! For the record, my favorite color is red, I hate flower patterns on anything, I love strappy sandals in the summer and will find a way to pull them off in the winter, and I will never don polka dots even if they are the newest hot trend of the season.

A few days later, I got a note in the mail from Vanessa Williams, my personal shopper at Nordstrom, inviting me to preview the new fall line. She also noted that I should bring my recent purchase with me, in that one of the new dresses was in a light reddish color and did not have a pattern...and that she had found a really great shoe to go with it.

I attended the sneak preview, returned my first purchase and bought the light red dress with the great strappy sandals to match. I had kept the original jewelery in that it was so cool, but ended up buying a new necklace to go with the new dress and sandals.

I could go on and on about all of my incredible experiences with Nordstrom and Vanessa, but I think you get the point. So, you get the point of the story, but do you understand how this relates to banking? Let me clarify.

Vanessa and Yardly are not magicians, mind readers or any psychic of the sort. They are, however, savvy with their CRM systems. Yardly may have gotten lucky, but Vanessa was smart. She knew that I would spend the money if I could fall in love with whatever it was she was showing me. And by asking a few simple questions about my favorite color and how I feel about patterns she was able to deduce that a light red dress with NO pattern would be great for me.

Do you ask your customers about what they like and don't like? Have you asked your retail customers about their family? If they volunteer that they have children, ask how old they are and make a personal connection. With your commercial customers, GET A WISH LIST!!! Ask them what ultimate tool would make their business run more efficiently and do some homework...find it for them...then find a way to finance it for them.

I know I have said this before, but banks are not that much different from retailers. Once we begin to think like them, and leverage our customer intelligence, we will then begin to truly serve our customers and earn the share of wallet that we deserve.

So, while we are talking about service standards...here's a link to a website that has lots of tools on it...and this one will really make you stop and think. Making small changes to increase our standards of service are not hard and they do not have to be expensive...take Johnny for example:
http://www.simpletruths.com/simpletruths/a.aspx?af=219&mo=stsr

Enjoy!
Jenna

Is your personality contagious?

I think it's a very valid question. I believe that enthusiasm is contagious. I also believe pessimism is contagious. When I am around people who are happy and excited, I tend to be happy and excited too...but when I am around people who are negative and pessimistic I feel like an energy vampire has sucked the life out of me!

This is why I ask. Every Monday morning the MarketMatch team has a conference call to check in and discuss how we can help one another by leveraging each of our unique perspectives. This morning I was told that I was starting to "talk like Bruce." I used some of his catch phrases. Apparently it's contagious.


Now, I know many of you out there in the banking world have met Bruce Clapp, and if you haven't, you should. Talk about contagious enthusiasm! And the guy knows his stuff. Early in my banking career, I had the luxury to meet Bruce at a conference. We kept in touch over the long course of my career, and it wasn't long before Bruce became my mentor. He is a marketing genius. I count my blessings every day that I am now working with my mentor, and constantly being challenged to think in new ways. So, if his catch phrases AND energy are contagious, well, those are diseases I am willing to catch!

So, is your bank contagious? Does your brand resonate in such a way that your customers keep coming back and bringing their friends? Does your teller line have so much energy and excitement that your customers LOOK FORWARD to coming in? Is their day better for having stopped at the bank on the way to work? Is the enthusiasm inside your branches contagious, or do you employ energy vampires?

It's something to think about, and it's easy to fix. When employees are motivated and empowered, they feel they are a part of something bigger. And when they are happy, it shows. We don't sing "If you're happy and you know it clap your hands" when we are kids because it's silly, we sing it because a it's true story.

Find a way to make your front line staff happy. And I know you are all thinking, "Whatever, Jenna...we all know it's more money." Wrong. It isn't always more money. I will bet that what is making your people less enthusiastic has more to do with lack of recognition for a job well done, lack of challenge, and lack of understanding of the importance of their role at the bank than it does their paycheck.

My final thoughts to share with you this beautiful Monday morning are these:
When you praise people for a job well done, it raises the bar of measurement for the job.
Most people live up to the expectations you set for them...but very few exceed the expectations.

Make the personality of your bank contagious! You will reap the benefits in lower attrition, greater retention, and a higher share of wallet.

Happy Monday!

Jenna