Thursday, November 29, 2012

$#*! Bankers Say

This week, I had the privilege to, once again, conduct a customer experience analysis for a client.  This is one of my favorite activities as a consultant.  I get to walk into bank and credit union branches from all over the country and see the very best ... and, unfortunately, the very worst in what our industry has to offer.

Every time we conduct this exercise, I'm shocked by the stuff that comes our of banker's mouths.  We spend so much time training our staff on operational issues that, when they walk onstage with a customer or prospect, that's all they know to talk about.

Here are some examples of $#*! Bankers Say that we've heard when asking for information on checking accounts:

  • "We don't have that phone scanning thing for checks, but I think Chase does."
  • "We'll have to run you through Chexsystems.  And, if you qualify, we'll tell you what accounts you qualify for." (Not a great way to make a customer feel welcome)
  • "We require two forms of ID." (So what)
  • "It will cost you $50 to open an account." (They meant the minimum balance to open the account is $50)
  • "We have a checking account for seniors." (To an obviously middle aged customer)
  • "The brochures are over there." (They point and the conversation's over)
  • "Tell me what you want."
  • "We have the (XYZ) account, but the fee is..." (or any "But" statement!  Nothing good ever comes out of an employee's mouth after the word, "but.")
  • "Our checking account pays interest, but the rate isn't very good." (See?)
  • "They have a good online banking system." or "They can open the account." (Like the person doesn't actually work at the bank)
  • "Is the checking account for you?" (No, it's a gift!)
  • Any personal introduction after the conversation has ended and the customer is walking away.
And my personal favorite...
  • "If you'd like to open an account, you can come back and talk to me. (Why not, right NOW?!?!)

To avoid this type of experience, follow a few simple guidelines:
  • Find out what the customer needs before you start spewing information.  Ask: Where they bank now, what kind of account they have, how they use it, what they like and don't like about it.
  • Make one or two product recommendations based on the customer's answers.
  • Focus on benefits.  How will this account make their life easier based on what they said they want.
  • Leave fees for the account opening.  Fee disclosure is a regulation, but doesn't need to be used to "sell" a product.
  • Don't read the brochure to the customer ... know your products.  It sounds basic, but too many bankers seem to be learning the product while they read the brochure to sell it.  Better yet, every employee should have an account from your institution.
  • "Conduct" operations ... don't "discuss" them.  In a restaurant you never hear, "We'll be happy to bring you that steak, but first someone will have to kill a cow."  
And most importantly...
  • Treat every customer as if they are a guest in your home!  Don't point ... walk them over, make formal introductions and for goodness sake ...  SHOW SOME PERSONALITY!!!!


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With nearly 152,000 visits worldwide, we hope that you enjoy this blog.  If you find it helpful, please share it with your colleagues.  Also, check out our YouTube Channel for short video blogs about financial marketing.  

We bring these marketing philosophies to community banks and credit unions nationwide, and would love to bring them to your institution too.  Contact us to see how.

MarketMatch is also a nationally and internationally requested speaker.  Contact us to bring our marketing ideas to your next conference.
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MarketMatch is a marketing firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the right story that will generate the greatest  MOMENTUM and prove the best RESULTS with our written ROI Guarantee.

                                       



Tuesday, November 27, 2012

9 Daily Habits That Will Make You Happier

I read this article today and it was just too awesome to pass up sharing this with everyone. Geoffrey James had posted this at Inc.com. Thank you, Geoffrey, for the wonderful reminder of what each of us should do every day. Our lives are all precious and it's true - we don't know everyone's story.

Enjoy!
Melissa

Article from: Inc.com

9 Daily Habits That Will Make You Happier

These minor changes in your daily routine will make a major difference in your life and career.

Happiness is the only true measure of personal success. Making other people happy is the highest expression of success, but it's almost impossible to make others happy if you're not happy yourself.
With that in mind, here are nine small changes that you can make to your daily routine that, if you're like most people, will immediately increase the amount of happiness in your life:

1. Start each day with expectation.

If there's any big truth about life, it's that it usually lives up to (or down to) your expectations. Therefore, when you rise from bed, make your first thought: "something wonderful is going to happen today." Guess what? You're probably right.

2. Take time to plan and prioritize.

The most common source of stress is the perception that you've got too much work to do.  Rather than obsess about it, pick one thing that, if you get it done today, will move you closer to your highest goal and purpose in life. Then do that first.

3. Give a gift to everyone you meet.

I'm not talking about a formal, wrapped-up present. Your gift can be your smile, a word of thanks or encouragement, a gesture of politeness, even a friendly nod. And never pass beggars without leaving them something. Peace of mind is worth the spare change.

4. Deflect partisan conversations.

Arguments about politics and religion never have a "right" answer but they definitely get people all riled up over things they can't control. When such topics surface, bow out by saying something like: "Thinking about that stuff makes my head hurt."

5. Assume people have good intentions.

Since you can't read minds, you don't really know the "why" behind the "what" that people do. Imputing evil motives to other people's weird behaviors adds extra misery to life, while assuming good intentions leaves you open to reconciliation.

6. Eat high quality food slowly.

Sometimes we can't avoid scarfing something quick to keep us up and running. Even so, at least once a day try to eat something really delicious, like a small chunk of fine cheese or an imported chocolate. Focus on it; taste it; savor it.

7. Let go of your results.

The big enemy of happiness is worry, which comes from focusing on events that are outside your control. Once you've taken action, there's usually nothing more you can do. Focus on the job at hand rather than some weird fantasy of what might happen.

8. Turn off "background" TV.

Many households leave their TVs on as "background noise" while they're doing other things. The entire point of broadcast TV is to make you dissatisfied with your life so that you'll buy more stuff. Why subliminally program yourself to be a mindless consumer?

9. End each day with gratitude.

Just before you go to bed, write down at least one wonderful thing that happened. It might be something as small as a making a child laugh or something as huge as a million dollar deal. Whatever it is, be grateful for that day because it will never come again.

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Cheers,
Melissa Worrel


MarketMatch is a marketing firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the right story that will generate the greatest  MOMENTUM and prove the best RESULTS with our written ROI Guarantee.


Sunday, November 25, 2012

Content Marketing Basics for 2013 - Compelling Value Propositions

If you want to implement an effective content marketing program in 2013, the place to start is with your customer value propositions. Value propositions are the cornerstone of your entire demand generation strategy, and they provide the foundation for your content marketing efforts. Most of the content resources you publish should be based on, or derived from, the core value propositions you offer.

Value propositions describe how your products and services create value for customers, and their importance cannot be overstated. The 2012 Lead Generation Benchmark Report by MarketingSherpa found that, on average, companies with clear value propositions enjoy lead generation ROI's that are 117% higher than companies without clear value propositions.

Despite their undeniable importance, many companies don't do a good job of identifying their core value propositions or creating content resources that articulate those value propositions in a compelling way. A recent survey of decision makers in B2B companies conducted by the Corporate Executive Board found that only 57% of the "unique benefits" touted by sellers were seen by potential buyers as having enough impact to create a preference for a particular seller. To put it bluntly, you simply cannot create compelling content without first identifying compelling value propositions.

Over the past two decades, I've reviewed hundreds of the "value propositions" used by clients. What I consistently find is that weak value propositions usually fall into one of three categories.
  • They are too generic.
  • They focus on product or service features.
  • They aren't supported by credible evidence.
Not surprisingly, strong value propositions exhibit the opposite characteristics. They describe specific elements of value, they focus on business/economic results or outcomes, and they are supported by credible evidence.

Identifying your core value propositions comes down to answering six fundamental questions about each major type or category of product or service that you offer.
  • What are all of the significant reasons that people have for purchasing a product or service like mine? What problems or needs motivate the buying decision?
  • What kinds of organizations are likely to have the problems or needs that underlie these reasons to buy?
  • Who within the prospect organization is affected by each problem or need? Who has the most to gain if the problem is solved and the most to lose if it isn't?
  • What specific outcomes are these people seeking?
  • What features of my solution will produce these desired outcomes?
  • What will the economic benefits be if these desired outcomes are achieved?
Using these six questions to identify and describe your core value propositions will provide a solid foundation for your content marketing efforts. They help you identify your target market, and they provide the starting point for developing the buyer personas that I'll discuss in my next post. In addition, the answers to these questions will help identify the topics that your content resources should address.

I recently published a white paper that explains how to develop compelling value propositions. If you'd like a copy of this white paper, send an e-mail to ddodd(at)pointbalance(dot)com.

Read Part 1 of the content marketing series here.

Read Part 3 of the content marketing series here.

Read Part 4 of the content marketing series here.

Saturday, November 24, 2012

Ho Ho Ho Happiness




Last week I introduced ways to exercise your mind and generate new ideas for 2013 by utilizing a ‘think-tank’ event. I had discussed ways you can get everyone involved prior to the event and the importance of the correct venue location. This week I’d like to share ideas on how to make your ‘think-tank’ event successful and end with a result you can use. 

In the past, many of you may have attended a ‘brainstorming’ event only to come away with numerous ideas that never get used and everyone feeling it was a complete waste of time. If this is the case, it’s time to concentrate on one idea.

First and foremost – stay away from calling your event ‘brainstorming.’ Go with something more original and less traditional. How about ‘IDEATION’? According to Wikipedia, Ideation is "the creative process of generating, developing, and communicating new ideas, where an idea is understood as a basic element of thought that can be visual, concrete, or abstract. Ideation is all stages of a thought cycle, from innovation, to development, to actualization." Note ‘IDEATION’ is the processthat brings your idea to actualizationand makes your event worthwhile.

Traditional ‘brainstorming’ encourages rules of no criticism or the ‘no squelching rule.’ According to The ‘Rules’ of Brainstorming: An Impediment to Creativity?’ by Matthew Feinberg and Charlan Nemeth, they suggest constructive criticism cultivates better ideas. Jeffrey Baumgartner discusses this in greater detail in The Seven Core Tenets of Anticonventional Thinking. In addition, Mr. Baumgartner also talks about the effectiveness of anticonventional thinking over conventional or traditional brainstorming. He has some very interesting points and concepts. Read below for his article. 
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The Seven Core Tenets of Anticonventional Thinking by Jeffrey Baumgartner

Anticonventional thinking (ACT) is a new approach to creativity designed to address the weaknesses of brainstorming and creative problem solving (CPS) by implementing the latest research and observation into how individuals and groups solve problems through creativity. 


Meanwhile, the seven key tenets of ACT are....
1.     Purposefully reject conventional thinking in favour of the unconventional thinking throughout the creative process and not just in idea generation. This is the key to ACT. Most people’s minds are programmed to do the opposite: reject unconventional thinking in favour of conventional thinking. After all, conventional approaches tend to be safe, socially acceptable and well tested. However, by definition, they are not creative. Hence, the secret to ACT is to trick the mind into doing the opposite of what it normally does. ACT is about training your mind to learn to reject the conventional in favour of the unconventional.

Moreover, ACT is not just about trying to have unconventional ideas. Rather it is about seeking the unconventional at every step of the process of solving problems or achieving goals through creativity. Learn to look at the problems and goals, for which you seek ideas, in new, unconventional ways. Look for unconventional insights and inspirations that can spark new thinking. When generating ideas reject conventional ideas for unconventional solutions. Rejecting the conventional in favour of the unconventional is the core concept behind ACT.
2.     Focus your creative energy on understanding the issue, problem or goal and not on generating ideas. When faced with a problem, most people look only at the surface of the problem and immediately try to find ideas. Do not do this. Rather, spend time deconstructing the problem in order to understand better the core issues behind it. Look at the problem from different perspectives. Try to see the problem from other people’s perspectives or even imagine you are the problem. Likewise, ask yourself how the unconventional insights that you have gathered might change the nature or interpretation of the problem.

Spend a lot of time on this step. Once you really understand the problem and can look at it from various perspectives, generating creative solutions is remarkably easy.
3.     Formulate a challenge or call to action that is provocative and encourages unconventional solutions. Rather than ask, “What new features might we add to this product?”, ask “How can we make holding our product as sensuous as holding your lover’s hand?” Rather than ask “How can I get a good job in this economy?” ask “How can I make myself irresistible to my dream employer?” Do you see how more provocative challenges such as these inspire more creativity?

When possible, rather than posing a challenge, make a call to action. Instead of asking “In what ways might we improve the shopping experience for our customers?”, demand “Design the most exciting shopping experience on the planet! Something so exciting even men will never want to leave our shops!”

Using superlatives (best, most, biggest, etc), unconventional metaphors and extreme language (sensual, incredible, legendary, etc) are great ways to make challenges and calls to action more provocative

If you are comfortable doing so, go ahead and change the formulation of the challenge or call to action while solutions are being generated. This can inspire new thinking and ideas.
4.     Disagreement, debate and defence, the three Ds are all good for creativity. Really! In spite of what you have learned in brainstorming sessions, arguing about the viability of ideas during the idea generation phase makes people think more about the ideas, enables you to reject non-viable ideas immediately and allows people to defend and develop ideas that may initially seem weak but which have great potential. This last point is important. If in a brainstorm, an apparently weak idea is generated, it will inevitably be disposed of during evaluation.

In ACT, if the same weak idea is suggested others are likely to criticise it. If they do, the person responsible or anyone else can defend the idea and develop it in more detail. As a result, a seeming ‘loser’ idea becomes a very creative one. This does not happen when there is no debate about ideas. 

However, debate in the creative process needs to be respectful. Hence, I offer three rules:

1. Always criticise boring ideas. You don’t want any of them slowing you down.

2. Criticism must be respectful and address the idea and not the person suggesting it. An idea may be called ‘daft’ a person may not be!

3. When an idea has been criticised, the person suggesting it or anyone else must be permitted to defend the idea. 


In addition, if a participant in an ACT group is senior to others (for example, a manager in a company or a professor among students), she should make it clear from the beginning that she expects to hear criticism of her ideas and will be very disappointed if she does not. Otherwise, people may be reluctant to criticise her ideas.
5.     Work on generating a small number of developed solutions or concepts rather than long lists (or stacks of sticky-notes) of ideas. Long lists of ideas typically generated during brainstorms inevitably include way too many boring ideas, are an administrative hassle to deal with and very often the most unconventional and provocative idea are lost among the mediocre suggestions of incremental improvement. The only value a long list of ideas provides is a metric that people can get excited about: “Golly! We generated 7,432 and a half ideas!” This ignores the fact that boring ideas, duplicate ideas and boring duplicates comprise 7,362 of those ideas and the remaining 70 are incremental improvements. Worse, some unlucky person will have to look at all those ideas when she could be doing something far more productive!

Instead, ACT aims to develop a very few – perhaps just one – creative solutions in some detail. As an alternative to describing the solutions in words, participants could be asked to weave stories (describe a girl who has just opened the packaging of our new cellphone. What does she hold in her hands? How does she feel about it?). They can be given materials such as Lego, building blocks Styrofoam, paper and tape, and be asked to build a solution. They can be given large sheets of paper or whiteboards and be invited to draw solutions. All of these approaches push people to develop ideas into coherent concepts rather than a list ideas.
6.     Reject boring, conventional ideas. Don’t even bother writing them down. 

They are boring. Work only with unconventional, exciting, outrageous ideas. If an idea makes you yawn, dump it. If it makes you laugh, develop it! 

One of the classic rules of brainstorming is to include every idea that comes to mind. The theory behind this is that once brainstormers divest themselves of boring ideas, they will come up with creative ones. The truth is, your mind has a censor which sits in the the dorsolateral prefrontal and lateral orbital regions of your brain. When most people start trying to generate creative ideas, this part of the brain actually becomes more active than usual. Why? Because it is rejecting ideas!

The best way to deal with your brain’s censor is to trick it! Convince it to reject boring conventional ideas in favour of outrageous, unconventional ones.
7.     Your creative solutions must be evaluated by strict criteria and not by the vague notion of “the best idea”. And there must absolutely and positively be no voting for the best idea! To do so would ensure that the most outrageous, unconventional and creative ideas are rejected in favour or boring, conventional ideas! Why does this happen? Because, the most popular ideas in a large group are seldom the most creative or relevant. 

So, unless your company CEO puts every business decision to vote as a matter of company policy, do not even think about voting on which solutions are best! Evaluate the solutions according to predefined criteria.
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Using an unconventional method of ‘idea generation’ may just lead you and your team to real benefits! 

Best to you on your next 'IDEATION' event. Make 2013 a great year!
Melissa


With more than 115,000 visits worldwide, we hope that you enjoy this blog.  If you find it helpful, please share it with your colleagues.  Also, check out our YouTube Channel for short video blogs.  

We bring these marketing philosophies to community banks and credit unions nationwide, and would love to bring them to your institution too.  Contact us to see how.

MarketMatch is also a nationally and internationally requested speaker.  Contact us to bring our marketing ideas to your next conference.


-------------------------------------------------------------------------------

MarketMatch is a marketing firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the right story that will generate the greatest  MOMENTUM and prove the best RESULTS with our written ROI Guarantee.