Focus ... MOMENTUM ... Results (Part 2)

Focus … Momentum … Results 

It’s not just our tag line … it’s our business model.

This week, we take the ultimate look behind the MarketMatch curtain.  A glimpse into our innermost workings.  The drivers behind everything that we do for your credit union or community bank.

This is part 2 of a 3 part series this week that will outline the simplest of strategic processes and the true value to how we partner with financial institutions to drive bottom line success.

Focus ... Momentum ... Results

MOMENTUM

A quick physics lesson:

Momentum = Mass X Velocity

A heavy object moving fast has a large momentum—it takes a large and prolonged force to get the object up to speed, and it takes a large and prolonged force to bring it to a stop. If the object were lighter, or moving slower, then it would have less momentum.

It takes momentum to push ahead. That’s why everything we do is to help drive momentum for your bank or credit union.

So, what does all this physics mumbo jumbo have to do with marketing?

MASS: From a marketing perspective, mass is a relevant and differentiated message.  It is consistent communication.  And consistent experience.  It is your brand.

VELOCITY: Velocity is awareness, understanding and word-of-mouth.  It is sales success at the front line.  A success that generates a contagious enthusiasm - for your team and your customers.

It's that simple: The more people who understand and experience your relevant, differentiated brand, the more momentum you have.

External Communication: From sound strategic planning to impactful implementation … every aspect of your marketing should be designed to generate a desired action. You create mass by defining your brand message and value proposition.  You create velocity by getting and demonstrating that message to as many targeted customers and prospects as possible.

Internal Processes: We will push further when we all push together. That is the power of training and internal communication.  Each team member must be able to understand and communicate your brand.  More importantly, they must be able to demonstrate it with every single interaction. 

You can't generate momentum overnight.  It takes a prolonged force to get the momentum up to speed.  But, once rolling, it will also take a prolonged force to stop it.  

Are you looking for justification for your marketing budget?  There it is!

To get the momentum rolling fastest, you need FOCUS.

To know the power of your momentum you have to measure RESULTS. 

If you can benefit from some Focus ... Momentum ... Results, click here.

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With nearly than 160,000 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.

Here are the conferences where you can find MarketMatch.

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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.

See our story here. (click)

Chat with me LIVE! (click)

Or email me directly (click)

937-426-9848

What Lies Within Us

"What lies behind us and what lies before us are 

tiny matters compared to what lies WITHIN us" 

- Oliver Wendell Holmes

As we dot the "i"s and cross the "t"s on our 2013 marketing plans, we've spent weeks analyzing our successes and failures from 2012, prioritizing our objectives for 2013, and determining the most impactful strategies and tactics to achieve those objectives next year.

This week's blog is a plea, dear marketers ... please don't forget your brand!

It's what lies WITHIN us that counts!

• What share-of-mind do you hold locally?
• What is the instant thought of your institution in the community?
• Is that perception different from customers/members and potential customers?
• Can your entire staff easily define what makes you different and better than the competition?
• Can your customers?!?!
• Heck, can your management and Board?!?!
• What processes do you have in place to assure a "wow" experience at EVERY touchpoint?
• What new processes will you implement next year?
• Is your front line staff focused on Meaningful Conversation or "sales?"
• Is there consistency of message and design in everything you do?
• Do your messages stand out in the crowd?
• Do you offer a product, or packaging/bundling, or knowledge/expertise, or simply an experience that would motivate me to make a change?
• Will I be treated like a guest in your home, or a customer?
• Are your branches warm and welcoming?
• What about your team?

This is an exciting time of year.  It's a reflective time of year.  It's a great time to look within your organization and soul search.

If you can't answer the questions above - or 

are unhappy with the answers, click here.

For a blog about our customer experience process and more tips, click here.

Click here for last week's blog: $#*! Bankers Say.

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With more than 157,000 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.

Here are the conferences where you can find MarketMatch.

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

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.

See our story here. (click)

Chat with me LIVE! (click)

Or email me directly (click)

937-426-9848

$#*! 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!!!!

For a blog about our customer experience process and more tips, click here.

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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.

Here are the conferences where you can find MarketMatch.

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

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.

See our story here. (click)

Chat with me LIVE! (click)

Or email me directly (click)

937-426-9848

                                       

A Boy and His Dogs (5 Ways to Create Loyal Customers)

We started a fun new chapter of our lives last Friday when we got two new dogs.  Yes, TWO!!!!  What was I thinking?!?!

It got me to thinking … we’re starting new relationships from scratch.  Kind of like you do with customers every day.

So here are a few things that I’ve learned about loyalty from my dogs … and who knows loyalty better than a pooch?

Kindness

This one goes without saying – well, until now.  But, like pups, customers respond to a kind voice and gentle demeanor. 

Consistency

Dogs and customers both have a short memory.  They are most likely to remember their very first and very last encounter with your institution.  So you and your staff must be on stage and on-point with every single interaction.  You can “say” you have great service, but it’s the consistent application of great service changes behavior and breeds loyalty.

Immediate response

Things don’t always go as planned.  With our youngest puppy, I’m ready to hang a sign in the house that says, “XX Days Accident-Free.”  For the record, this morning the sign dropped back down to 0.

When “accidents” happen, address them immediately.  Errors are an opportunity for you to pro-actively address an issue and actually build a better relationship.

For more on this topic, click here for our blog “Turning Oops into Opportunity.” 

Focus on the experience

Certainly my dogs are becoming loyal because we love them.  But having fun certainly doesn’t hurt!  Every day, we make a point of playing fetch and wrestling and letting them chase the kids (in a fun way).  My shepherd and I are quickly becoming great trail-running partners. 

I’m not expecting your customers to want to chase a Frisbee, but understanding what drives your customers – when they’re not in your branch – will help you to build a better relationship.  How do you accomplish that?  LISTEN.  You need to talk to your customers about their lives, not just their banking.

Positive reinforcement

Whether you're teaching Fido to sit on command or training a customer to use their debit card more times per month, rewarding good behavior works.  You don’t necessarily need a detailed rewards program – though there are many great ones out there.  But a simple personal touch, like a hand written “thank you” note for every new account opened goes a long way.

By following these five, simple ideas, you can become the Dog Whisperer of your customer loyalty program.

Wake Up Your Brand the Starbucks Way

Last week, I spoke for the South Carolina Credit Union League about Creating Authentic Brands.  During my session, I used Starbucks as an example of an organization who built an authentic brand.  And, in typical me-style, I think I insulted about half the room.

You see, I added the aside that I felt Starbucks' great brand was built despite an inferior product.

We then spent the next 5 minutes arguing about coffee.  Actually getting passionate about a roasted bean.

Through this discussion, I inadvertently proved my point … Great brands are more about emotion than logic.  By simply stating my opinion that Starbucks is bitter and subpar, I evoked an emotional response to defend a loved brand.

So, how did Starbucks do it?

In his book, Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time, Howard Schulz, Starbucks’ Director of Retail Operations and Marketing, expressed how the brand is central to Starbucks’ business:

“Authentic brands do not emerge from marketing cubicles or advertising agencies. They emanate from everything the company does, from store design and site selection to training, production, packaging and merchandise buying. In companies with strong brands, every senior manager has to evaluate each decision by asking, 'Will it strengthen or dilute the brand?'"

This is great advice if you want your customers passionate about your brand … out there defending your honor, like knights on white steeds, every time some opinionated loud-mouth like me puts you down.

By putting as much emphasis on the experience as in the product, you can differentiate yourself and build an authentic brand … just like Starbucks.

"Starbucks’ role is to provide uplifting moments to people every day. I didn’t say coffee. Starbucks is not just a pound of coffee, but a total coffee experience."

~ Scott Bedbury, Senior Vice President of Marketing, Starbucks

Now, if you'll excuse me, I need to run to Caribou for a Northern Lite white chocolate latte with extra espresso.

Take care,

Eric

With more than 120,000 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.

Here are the conferences where you can find MarketMatch.

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

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.

See our story here. (click)

Chat with me LIVE! (click)

Or email me directly (click)

937-426-9848