Here's Why I Don't Make New Year's Predictions!

As we get ready to say goodbye to 2008 and ring in the new year, I will avoid the temptation to make any predictions—at least not in print for the entire world to criticize in hindsight. 

A case in point.  Here are some of the worst predictions that were made about 2008.   These were all events that affected each of us financially, personally and politically.  You just can’t make this stuff up.

1.     "A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!" -- Richard Band, editor, Profitable Investing Letter, Mar. 27, 2008

(At the time of the prediction, the Dow Jones industrial average was at 12,300. By late December it was at 8,500.)

2. AIG "could have huge gains in the second quarter." -- Bijan Moazami, analyst, Friedman, Billings, Ramsey, May 9, 2008

(AIG wound up losing $5 billion in that quarter and $25 billion in the next. It was taken over in September by the U.S. government, which will spend or lend $150 billion to keep it afloat.)

3. "I think this is a case where Freddie Mac and Fannie Mae are fundamentally sound. They're not in danger of going under I think they are in good shape going forward." -- Barney Frank (D-Mass.), House Financial Services Committee chairman, July 14, 2008

(Two months later, the government forced the mortgage giants into conservatorships and pledged to invest up to $100 billion in each.)

4. "The market is in the process of correcting itself." -- President George W. Bush, in a Mar. 14, 2008 speech

(For the rest of the year, the market kept correcting and correcting and correcting).

5. "No! No! No! Bear Stearns is not in trouble." -- Jim Cramer, CNBC commentator, Mar. 11, 2008

(Five days later, JPMorgan Chase took over Bear Stearns with government help, nearly wiping out shareholders.)

6. "Existing-Home Sales to Trend Up in 2008" -- Headline of a National Association of Realtors press release, Dec. 9, 2007

(On Dec. 23, 2008, the group said November sales were running at an annual rate of 4.5 million -- down 11% from a year earlier -- in the worst housing slump since the Depression.)

7. "I think you'll see (oil prices at) $150 a barrel by the end of the year" -- T. Boone Pickens, June 20, 2008

(Oil was then around $135 a barrel. By late December it was below $40.)

8. "I expect there will be some failures. I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system." -- Ben Bernanke, Federal Reserve chairman, Feb. 28, 2008

(In September, Washington Mutual became the largest financial institution in U.S. history to fail. Citigroup needed an even bigger rescue in November.)

9. "In today's regulatory environment, it's virtually impossible to violate rules." -- Bernard Madoff, money manager, Oct. 20, 2007

(About a year later, Madoff -- who once headed the Nasdaq Stock Market -- told investigators he had cost his investors $50 billion in an alleged Ponzi scheme.)

10. A Bound Man: Why We Are Excited About Obama and Why He Can't Win, the title of a book by conservative commentator Shelby Steele, published on Dec. 4, 2007.

(Mr. Steele, meet President-elect Barack Obama.)

Sometimes as bank marketers we have to go against the grain even when conventional wisdom, from pundits both inside and outside the bank, is telling us otherwise.  We have to continually balance the market realities in which we operate against the validity of the information we are receiving.

As I contemplate 2009, the only prediction that I can safely make is that I’m sure that I will have plenty of grist for this year-end blog next December.

A happy, healthy and prosperous New Year to all!

Cheers,

Nick Vaglio, CFMP

Who is Your "Uncle Dave?"

“'I might have to make a visit to Uncle Dave,' which is what people in Ouray say when they need to take a loan from the local bank, Citizen’s State, whose chairman is named David Wood.”

This is an excerpt from Twilight of a Mountain God, an article about Rick Trujillo - who said the quote - in the January, 2009 Runner’s World magazine.

Trujillo is part mountain goat … his trail running accomplishments, tenacity, endurance and downright stubbornness made me say, “Wow.”  Then I got to this quote and said ... well, let’s just say it was more than “wow.”

Sure, the city of Ouray, Colorado has fewer than 1,000 residents – but any community bank or credit union in ANY city can have an “Uncle Dave.”  It can be your chairman, president, or branch manager.  Even in a metropolitan area, a community institution can have the "Uncle Dave" of the neighborhood surrounding the branch.

Essentially, Uncle Dave is the community’s go-to-guy when it comes to banking.

Think of the power of having an Uncle Dave … especially in this economy with money transferring and trust wavering. 

My goal for 2009 is to begin to create at least one Uncle Dave (this type of rep won’t come overnight). 

You just need to:

• Have the right Uncle Dave – someone who can represent the bank or credit union well and “own the role.”
  
• Be the first to market – it won’t do to be the second Uncle Dave in the market
  
• Be consistent – Uncle Dave is a THE community banker
  

If you have an “Uncle Dave,” please share some thoughts about it in this blog.

Have a very merry Christmas and happy holidays.

Take care,

Eric

Tis ALWAYS the Season!

This time of year makes me even sappier than I already am. I reach out to family members I don't hear from often, I drop a dollar or two in the red kettle every time I pass (and have the cash!), I donate food to food banks and toys for children. I watch parades and movies and act like a child every time I see Santa.

Then it dawned on me...as a society, why do we only do this once a year. The feeling of paying it forward is so extraordinary.

So, is there a lesson here for us marketers? You better believe it.

Reaching out to your family should not happen exclusively by automatically generated letters that go out on holidays and birthdays. What about the letter you write or call you make to say "I just wanted to say hello and congratulate you on your daughter making the honor roll." Would reaching out like this cost you more? Nope. Maybe a little time, but what would it mean to your customer (i.e. family)? It would mean that you care and you are paying attention.

I know that many institutions "Adopt a Family" around the holidays and you and your coworkers pitch in and go shopping for the family to provide them the best Christmas ever. What about the families in your community that suffer a loss...loss of a job, loss of a loved one, loss of a home. I'll bet they could use a little help at some point during the year too.

What I am saying is that there are so many ways we can do special things throughout the year, with a little effort and very little out of your budget that will go a long way for you and your institution. Just think about the publicity (not that I am encouraging being a vulture with a camera or an ambulance chaser) you could generate.

The concept of paying it forward is something we believe can speak volumes of how you do business...not to mention help to create customer evangelists! And creating customer evangelists is priceless.

It is ALWAYS the season for giving back. Do something extraordinary in March too.

Jenna

2009 Resolutions

Well, we’re 14 days from “The big day.”  Then we have 5 December days that might as well not exist … then New Year’s Eve.  So I thought I’d take his time to skip straight to New Year’s Resolutions.

Among the office parties, branch parties, management lunches, friend’s gatherings and family get-togethers … consider some of the following resolutions for ’09:

 “In 2009, I resolve to…

• Measure ROI on all major campaigns and on my marketing efforts overall (at least monthly or quarterly)
  
• Write at least 3 personal note cards per week to key commercial prospects
  
•  Test variables (target, message, offer, mailer dimensions, etc.) on at least 2 direct mail campaigns
  
• Get an idea from at least one non-bank related retail example ... and use it
• Better use segmentation to stretch my marketing budget and increase results
  
• Conduct a benchmark awareness study in Q1 and a follow-up study in Q4 … and show a positive trend!
  
• Focus as much on the delivery of the promise (front line practices and sales techniques) as I do on the marketing message itself (external communication)
  
• Improve internal communication of bank objectives, goal progress and brand messaging/delivery
  
• Form a marketing advisory board of targeted customers to critique all messaging (ads, web site, direct mail, etc) from an outside, non-banking perspective
  
• Read/attend every trade pub, industry blog, and webinar that I can get my hands on to stay on top of the industry – and not just read the marketing articles.
  
• Read at least one non-industry related marketing book
  
• Attend the ABA School of Bank Marketing & Management … Get my CFMP certification
  
• Have more fun at my job because there’s nothing better than being a marketer!
  

Now, I need your help!  Please post a comment to this blog to add your own’09 resolution or to comment on any of the ones above.

Good luck making it through the next few weeks and enjoy the holidays.

Take care,

Eric

Blog Series #2 -- Making Marketing Relevant

Relevance. Webster's defines it as "connected to the matter at hand. Pertinent." I believe relevance means that "it ties to my life." Relevance is also in the eye of the beholder. However, as a marketer, we know that we can influence relevance and that without it...we are a complete after thought -- if that much.

Being relevant starts with understanding who your audience is...from an internal and external perspective. Determining what their needs are (asking them) and then communicating in a manner that resonates. Resonates is an important word when it comes to relevance. Your message has to "hit home" to create relevance and connect to your target audience's life.

The concepts you need to analyze for your organization....

• who is our target?
• what is their need (individual and collective)?
• what is their reference point?

Once you determine these items...you can begin to craft a communication tone and message. the last item is perhaps the most critical...their reference point. This simple (yet complex) idea is that each of our customers and prospects has a reference point for us. It may be through a parent, their work, their friends, or through media. The reference point is the fulcrum of their balancing point with us...the starting point to creating, enhancing or cancelling a relationship with us. We have to know their reference point to better understand their needs, buying behaviors and the influences in their life.

The relevance of our marketing starts and ends with our communications. Facebook. MySpace. ING. Zappos. There are new breeds of communication delivery everywhere...some include a financial implication directly, but all impact us in some way. If we chose to target the millennials...and we decide to use Facebook. We could be committing a major misstep. The new communication tools come with a new set of rules. Get to know them.... talk to millennials that work for you, bank with you, or have a reference point with current customers of you.

The best relevance message includes:

• clear connection to the reference point
• clear connection to their need
• clear connection to the future

You have built the uniqueness of you, your organization and your brand....now take that uniqueness and ensure it is relevant to your target.

In these times, relevance matters. Being at the right place at the right time matters, too. Here is an article about being a community bank in today's economic times...this is the RIGHT place and RIGHT time for community bankers!

Cheers!

Bruce Clapp

Smarter...Faster...Better

In the current global financial crisis, the average worker is being asked to produce more in the same amount of time at basically the same salary.

Today’s bank marketing professional faces a similar dilemma.  In an era of shrinking budgets and ever increasing responsibilities, we are being asked to produce more with greater results and to do it in less time with fewer dollars.

Now more than ever, bank marketing professionals must search for innovative ways to work smarter…faster…better!

Smarter...

• Acquire the market and industry intelligence and knowledge to enable you to become a “smarter” strategic partner to your customers
• Acquire new customers more efficiently and cost-effectively through better targeting and more innovative profiling of prospects
• Apply more clever and creative tactics in order to outsmart the competition.

Faster...

• It used to be that the big ate the small.  Now the fast eat the slow!
• In today’s connected world, customers expect products, services and information to be delivered in a fast, convenient and hassle-free way. 
• The ultimate profitable survivors in the highly competitive financial services industry will be those who react the fastest to market and competitive conditions with the right products and services to meet the exact needs of customers

Better...

• Your people, products and customer service must be better than the competition in the eyes of customers and prospects
• Companies that have earned the reputation of being better than their competition recognize that it is a daily process.  One bad day can begin to unravel a long-term positive effort.
• Bank marketers must get better at recognizing where profitable opportunities lie before everyone else does

While this may be easier said than done, we owe it to our customers and employers to work a little smarter, faster and better than the competition to deliver the results we all need to keep growing in a trying economy.

Cheers

Nick Vaglio, CFMP

The Twelve Brown Bag Luncheons

If you can believe this, I actually started to blog to the tune of "The Twelve Days of Christmas." That had the potential to be the worst blog on the planet Earth!!!

So, how about this...I will just tell you want I wanted to say without being all "cute" about it.

Times are tough. For everyone. You are being challenged to do more with fewer resources and your budget has probably been cut a few times. And I am going to go out on a limb and guess that you cut "education and training" first because it won't interfere with your marketing strategies. But that's tough. You need to stay on top of the game and come up with creative and fresh ideas.

I think we have the solution for you...MarketMatch is launching the Brown Bag Lunch Series! Beginning on January 16 at 1:00 PM EST and continuing on the third Friday of every month (same time and place), we are offering FREE "roundtable" style conference call webinar discussions. We will moderate, but the conversation will driven by you. All you have to do is pack a lunch and dial in.

We will be there to make sure you aren't dialing in to dead air space. The MarketMatch team will serve as a panel to share ideas and get the conversation rolling. We will also take turns lending our expertise to the various topics.

So here's the skinny...Topics include:

• Marketing Relevance
• E-Marketing and Social Media
• Generating Deposits
• Branch Promotions
• Bringing Retail to Financial
• Generating Consumer Loans
• and that's only half of them!

To learn more about the Brown Bag Luncheon Series, or to sign up, click here! We hope to "see" you there!!!

Do something extraordinary today!
Jenna

Making Marketing Matter

Greetings...

I trust that everyone had a fantastic Thanksgiving holiday with the mandatory activities of overeating, taking a nap and shopping!

I thought I would kick-off December with a series of three blog posts that comprise a visual that we use quite often...we refer to it as the "Making Marketing Matter" graph. As you can see from the image, we believe that there are three separate and distinct components.

Let's start at the beginning...being unique!

Uniqueness is banking...almost sounds like an oxymoron...unless you are a marketer! We know that our bank or credit union is different...truly different. Not just by having "the best staff" but by tangible differences. Maybe it is a shorter loan processing time period, perhaps we hand deliver check orders, maybe our monthly statements come with a 48 hour delivery guarantee. Whatever the tangible differences are we know them, right? Well, if you said yes, proceed forward! If you answered, well?? Then you need to take an honest assessment of your institution, your staff, your products, your competitive marketplace, and refine and define your true differences.

Uniqueness, in our thought, has to have an edge to it. Have a definable characteristic, be measurable. The uniqueness also has to be true to your organization. One that truly is reflective of "who" you are and "what" you deliver, all balanced against the reality of can you do it repeatedly and consistently! We believe these are two fundamental variables that many people undervalue. Consistency and repeatability define a brand and also then define the organization and its people. As you know, it is also the other way around...the organization and its people define it consistency and repeatability!

Your challenge...find your uniqueness, quantify it, ensure it is consistent and repeatable and then get EVERYONE on board to understand what it is and why it matters!

Being unique is one thing...making sure that uniqueness has value in the eye of the customer is something else. That is relevance...we will get to that one is my next post!

Cheers!

Bruce Clapp

If You Don’t Look Up, You Might Just Loose Your Head.

While I was on my morning trail run, I got to thinking.

There was a light coating of snow on the ground, the morning sun was just starting to peak through the tree limbs, I was following the soothing flow of a creek and I literally had miles of woods all to myself … and I was missing it.

I realized that, in order to not break an ankle, my eyes never left the path 4-6 feet in front of me.  I could have easily run right by a deer, coyote or hawk and never notice it because I was more concerned with the occasional rock and root in my path.

Don’t get bogged down by the rocks and roots in your day … take some time to look up and enjoy the journey.

In trail running, you need to look ahead to plan your route or you could end up doubling back to avoid a downed tree … or worse, get crowned by it.

Don’t loose your head.  Take some time to look ahead of the day-to-day “rocks and roots” to see what other obstacles or opportunities might lay ahead.   

Take care,

Eric

History...a prediction of the future?

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

by Thomas Jefferson in the letter to
The Secretary of the Treasury, Albert Gallatin (1802)

I can't make this stuff up! It seems that our forefathers always know best and have a way of describing what we experience today with the candor and articulateness of our past.

In an environment of declining trust in our financial sector, it is important that we take a step back and remember why we are really here...for our customers. Without them, there is no us. Or, as Jerry McGuire would say, "You complete me."

The lost trust will not easily be restored. But those of you who reach out to your communities now, communicating your stability and how support your customers, will be the winners in the long run.

I am feeling a little sentimental today so that's it for now. But I have a very interesting strategy to share with you next time...and let's just say we can all learn something from the technique. Email me or post a comment if the anticipation gets the best of you.

Be extraordinary today!
Jenna

Monday Morning Quarterback

Greetings...

Can you believe its November 17th!!! Thanksgiving is around the corner and the year is speeding to a close. On Mondays, I always read the paper and am constantly puzzled and irritated by the editorial comments and articles written about the weekends football games. Nothing like being a Monday morning quarterback. You know, sitting at the table, drinking a cup of coffee and thinking about the decisions coaches made, plays the players did not make and the state of the game. I have all the answers!

Well, that is exactly what is occurring on ALL of our markets...by the newspapers and TV news. How do we counteract it?? Get ahead of the curve!

You need to be proactive with your messaging NOW more than ever! A constant flow of positive press releases, making your senior executives available to the press at any time (with even a moment's notice), and proactively suggesting topical ideas. These are all ideas to get ahead of the powerful PR curve. We know the stories of ill-conceived sub-prime lending, lax credit reviews, and overly aggressive lending tactics. However, we know we are NOT part of it...yet, if we don't communicate and get ahead of that curve, we will be lumped into the same category and pulled into the same articles.

Hold yourself up as a positive example...share stories of your lending staying local, community assistance, credit assistance programs...anything that will counteract the negative press.

As Marketers, we have to be both strategic and tactical in our thoughts, planning and approach. Within our bank and externally to those that talk about us. That includes the press, our customers, and our staff!

Constantly review the "talk" and provide your staff with talking points, Q&As, and other information to prepare them for potential questions. The questions asked in the office are only a small portion of the questions asked....Don't forget that you and your staff are representatives of the bank and are probably asked MORE questions are football games, dinner parties and at the mall that anywhere else...remind your staff to be prepared and direct people to credible resources for information (your website hopefully is one of those resources!)

With preparation, planning, and getting ahead of the curve, you can position your bank to be a leader now and in a strong leading position when the economy and industry eventual turnaround.

Cheers!

Bruce

Banks Can Learn From Obama

Barack Obama will become the 44th president of the United States for many reasons.  Among them are his exceptional communication skills.

Obama will become the country's "communicator-in chief" in just a couple of months, in large part because of the way he presented himself in a variety of challenging and stressful communication situations (does the global financial crisis and the loss of trust in banks come to mind).

Obama connected with millions of Americans on a human and personal level.  Persuading customers (or voters) is about more than having logical or sound ideas.  Facts, data and details alone won't motivate and move people. It won't inspire them.  Obama understood this and worked hard to improve his communication style.

It seems like everyone wants to sell solutions today. Actually doing it, however, requires a fundamentally different starting point when it comes to how Marketing creates and delivers customer communications.

Today, the top three challenges faced by traditional bank marketing and sales departments looking to move to a solutions selling approach are:

·       How do we shift from product-centric messaging to more customer-centric messaging?

·         How do we create more solutions-oriented, value-driven customer communications?

·       How do we drive, more consistent, high-quality customer conversations and collateral materials throughout the sales cycle? 

There’s a significant opportunity to avoid parity in your value propositions and set your company apart in the competitive marketplace by truly communicating with customers in the way they want to buy. 

Since product managers often have P&L responsibility, they may charge myopically and parochially into creating the ultimate product training, sales information, marketing content, and customer communications tool kit -- extolling the virtues of their particular offerings.

Essentially, they equip business development people to tell the customer: “Here’s what it is. Here’s what it does. Here’s why it’s good for you. And, here are some ways that we think we’re better than the competition.”

Does this seem to be the typical outline of a product launch and sales kit at your company?

If product management or marketing is going to help a business development person create and sell a “solution” for a customer – whether in a conversation or presentation – then they will have to show how their product, or particular features of that product, can be applied to help the customer accomplish a real business goal, or solve a business problem.

Unfortunately, too many product marketers, while having a good grasp of their products, don’t know enough about their customers’ problems or goals.  Ultimately this “company-centric” view can trickle out to sales and service people. As a result, aligning products and capabilities with real-world customer needs is left to chance with only the most intuitive business development people doing it naturally – the trait that sets them apart as successful consultative sales people.

The opportunity is to “codify” this intuitive solution selling approach and begin to pre-build marketing messages and sales content in an attempt to clone the best customer conversations and collateral materials for your overall sales staff,  whether it's retail or business banking.

This requires a transformation of your sales coaching and customer-facing communications.

One way to think about it: as organizations we need to move from traditional company product-centric messaging to customer problem (or goal)-centric messaging.

The key lesson here is communication...communication...communication.  It's taking the good products and services that your bank has developed and communicating to the customer or prospect how they have relevance to their particular needs today, tomorrow and in the future.

Whether or not you voted for Obama, he continues to offer valuable communication lessons to any professional who must persuade, motivate and inspire others.

Cheers,

Nick Vaglio, CFMP

Change is the Word

If there’s one word that can sum up 2008, it might be “Change.”

Not only was it the steadfast motto that helped to win a historic presidential election, but it also is inherent in so much of our industry.

Now, it would be easy to talk about the change in the government’s increased roll in banking or the change in how mortgages are looked at.  But, let’s be honest … those topic have been beat to death.

What may be the most important change to anyone who’s reading this blog is the change in consumers PERCEPTIONS of the banking industry.

When I was a credit union marketing VP, I preached to management and my Board that consumers only wanted good acces to their money, a good deal and for the staff to smile at them occasionally … they did NOT, in my opinion and in very general terms, care about our involvement in the community or in the not-for-profit “credit union difference.”

I’m not saying that I was wrong – because I wasn’t – but times have changed.

With buzz phrases like “golden parachutes,” “sub-prime lending,” “predatory lending,” and “bail out” flying around, it is no wonder that the country’s perception of banking has changed … particularly BIG BANKING.

If you’re a credit union – the “not-for-profit” message will differentiate now.  If you’re a community bank, the “good neighbor” message will strike a cord.  In short, we should get back to the fundamentals and directly address this change in perception.  Are your bank’s decisions made locally with the customer’s and community’s best interest in mind?  Now consumers will care.  Have you helped local small business to start and flourish?  Now consumers may listen.

In short, CHANGE IS GOOD.  And as small to mid-sized financial institutions, we should not only embrace it, but capitalize on it.

Take care,

Eric 

Banking's New Version of Russian Roulette

Considering the current economic crisis, it is doubly troubling when you come across an article such as the one that appeared recently in the Business section of the New York Times.  The article was titled, Drawing a Bead on Debtors, and it focused on how some banks and credit card companies are mining databases to pitch new loans to troubled borrowers.

The articles profiled the travails of Brenda Jerez, who in 2005 became ill with cancer and ran up $50,000 on her credit cards after she was forced to leave her accounting job.  She filed for bankruptcy protection last year.

For months after she emerged from insolvency last fall, 6 to 10 new credit card and auto loan offers arrived every week that specifically mentioned her bankruptcy and, despite her poor credit history, dangled a range of seemingly too-good-to-be-true financing options.

Russian Roulette, as you well know, is like the art of suicide with a little Las Vegas odds thrown in.  You load a bullet into one of the six chambers, spin the cylinder, hold the gun to your temple, pull the trigger and hope for the best.  Only, in this banking version, all the cylinders have bullets.  

The business practices outlined in the New York Times article is akin to giving a recovering drug addict a sample of cocaine or a recovering alcoholic a six-pack of beer.  It's all about the next product sale--regardless of whether it has the underpinnings of the next tsunami in the economic crisis. 

Singling out even struggling American consumers like Ms. Jerez is one of the overlooked causes of the debt boom and the resulting crisis, which threatens to choke the global economy.

Today, companies comb through an array of sources, including bank and court records, to create detailed profiles of the financial lives of more than 100 million Americans.  They then sell that information as marketing leads to banks, credit card issuers and mortgage brokers, who fiercely compete to find untapped customers--even those who would normally have trouble qualifying for the credit they were being pitched.

Sound like the next financial minefield?  Except in this case we are planting the minefield and throwing away the map.

I used to feel very proud to say I was part of the financial industry--first as a banker and now as a consultant.  But today it is hard to put the words bank and trust in the same sentence without it sounding like an oxymoron.  Unfortunately, for the majority of banks that operate with the utmost integrity, morality, and social consciousness, we all suffer from a little guilt by association.

That's why today, more than ever, the number one job for all banks is to reestablish that one-to-one trust with our customers, so they will then view us again as true partners that are looking out for their well being.  

Trust me on this one.

Cheers,

Nick Vaglio 

The Five Myths of Training

What will separate the banking winners from the losers over the next 10 years? A leading management consultant says there are three factors: number one, training; number two, training; and number three, training.

You would think that all organizations and managers recognize the importance of training. But, they don’t. Why? I’ve found that managers and organizations fall prey to the five management myths.

Myth 1
“Our people are experienced. They don’t need to be trained.”

This myth begins with the organization or manager who says, “Our people don’t need to be trained. They are all old ‘pros’ who have years of experience.” But there is a tremendous difference between experience and competence.

Think about it. Imagine a professional football coach saying, “Our people are all experienced, so we’re going to skip training camp this year. We don’t need it.” How do you think that team would stand up against the competition? How long do you think the coach would keep his job?

Ask yourself this question. Do you think that business is the same today as it was 20 years ago? Of course not. Business is changing. Management is changing. Successful organizations don’t do business the same today as they did five years ago, or 10 years ago, let alone 20 years ago.

Myth 2
"We tried it and it didn’t work.”

I’ve heard executives say, “When Harley Hotshot came to town, we put half of our people through his training and they haven’t sold any more than the rest of the team.” There are two very important things to remember about training. Number one: training is not an event, it is a process. And number two: in order to be effective, training must be ongoing.

Training is a little like calisthenics. If you haven’t worked out for years, and you jump right into a heavy exercise program, you’re going to be uncomfortable. So whether you’re talking about training or calisthenics, if you do it occasionally you grow sore; if you do it regularly you grow strong

Myth 3
“Our organization (or department, or division) is too small.”

It’s important to understand that training is equally important for organizations of all sizes. Consider this. If an organization has one hundred people, and if one person is not operating at maximum capacity, that’s one percent of the entire organization. On the other hand, if an organization has just two people, it may be easy to rationalize “We can’t justify training” … but, if one of those two people is not operating at maximum effectiveness, that’s 50 percent of the entire organization. So, training is equally important to organizations of all sizes.

Myth 4
“We can’t afford it.”

This is a cop-out. If you think the cost of training is expensive, compare it with the cost of incompetence! In today’s service-oriented environment poorly trained staff will drive your customer’s right into the camp of your competition.

Myth 5
“We don’t have time.

This is an absolute exercise in self-deception. If you are like most executives, I’m sure you sometimes ask yourself, “Why is it we never have time to do it right, but always make time to do it over?”

The manager who says, “We’re so busy we don’t have time for training” makes about as much sense as the woodcutter who says, “I’m so busy cutting down trees, I don’t have time to sharpen my ax.”

Abraham Lincoln once said, “If I have three hours to cut down a tree, I’d spend the first two hours sharpening my ax.”

Now, let’s address a final point. How long should you continue training your staff? The answer is how long do you want your people to keep improving?”

Cheers!

Nick Vaglio

Brilliant marketing

I know that I just posted a few minutes ago, but you MUST watch this. Starbucks marketing at its finest! Here's the link: YouTube Starbucks Video

The Real Financial Crisis

Some people have a knack for making profound statements with little effort. Nick Vaglio, the newest member of the MarketMatch team is one of those people. While stating the obvious, Nick said that the real financial crisis isn't the credit crunch or the housing bubble, it's the lost trust in their financial institutions.

He makes a good point. Think about it. Consumers are increasingly skeptical of the financial services industry and it is up to us to help ease their mind. Business Development Officers will need to reconsider their methods and become more like relationship managers than hunters and gatherers.

I know many of you have been communicating your safety and soundness to your communities, and that's GREAT! But we need to do more. When small businesses need help with their cash management they are going to their CPA's for guidance. Are those CPA's sending the referral to you or your competition? Building those networks will take a little time and finesse but will reap great rewards.

Just remember that we do not have the same fear our customers do because we understand. Plumbers don't worry about leaks and mechanics laugh at a bad starter. Remember that your customers are not bankers. Nurture the relationships and the rewards will be yours for the taking!

Remember to be extraordinary!!
Jenna

Bringing Retail to Financial

I’m just brain stormin’ here.

Last week, I saw an ad from Kmart advertising a forgotten concept … layaway!

Immediately, 3 things jumped to mind:
1. “Wow, they really have their finger on the pulse of the economy.”
2. “What in the world is so expensive at Kmart that you’d need layaway?”
3. “How can we bring this idea into the financial world?”

Layaway, a purchasing agreement by which a retailer agrees to hold merchandise secured by a deposit until the product price is paid in full by the customer, is an idea whose time may have returned.

Let’s face it, job loss may be up, foreclosures may be soaring, the stock market is a roller coaster ride with more downhills than up, and a recession may be imminent – if not already here – but we’re still Americans darn it! We still want more than we can afford. We still believe in buy it now and pay for it later.

Layaway is the perfect answer. Heck, you can even use layaway for online purchases now … just check out http://www.elayaway.com/.

OK, so how do we take advantage of this in our institutions?

LAYAWAY CDs

What if we offered a “Layaway CD” with a term of 3, 6 or 9 months (maybe a year if you feel lucky) where the customer can make regular deposits throughout the term but has a penalty for early withdrawal?

The CD is kinda like a layaway with interest. It has an end date goal … the customer can’t touch the money … and a CD offers what no layaway can – a fixed INTEREST RATE!

If a customer wants a big screen TV, for instance, but can’t afford it now and doesn’t want to add to their credit, they simply open a Layway CD and start putting money aside with the understanding that they can take that TV home in a few months.

Maybe this will help spark an idea to help you differentiate your shop and provide a product that your customers don't even know they need yet.

Take care,
Eric

Trick or Treat....Your call!

Greetings....and Happy Halloween!

Well, we are 28 hours from the start of trick or treat and my kids are excited...well, they may be feeding off my excitement! I love trick or treat. The neighborhood is alive with activity, electricity is in the air with the excitement and you see parents and kids having a great time together. Oh, and the big benefit...CANDY!

For off of us bank and credit union marketers, it is coming closer to Trick or treat time, too. It might better be known as the Budget! It is entirely up to you to build a budget preparation process that turns a potential "nightmare" into a Treat for 2009.

It is undeniably a tough time in the banking industry...however, it is also a time to capture market share, show your strength and build a point of difference for your institution. Here are 5 Key Budget tips to get you going...

1. Prepare competitive research on your marketplace (budgets and SWOT)
2. Match your budget to the organization's strategy objectives
3. Align your strategies with each business lines objectives and tactics
4. Prepare your budget as a "better" and "best" -- one a visionary stretch
5. Build an ROI for every major component of your budget

A bonus Key Tip is to talk with your CFO and understand the key areas of pressure that he/she predicts for 2009...margin pressure, lending pressure, stock pressure, etc...and build a set of strategies that directly attack those pressure areas!

Your 2009 budget does not have to be a nightmare of cuts, restrictions, and extreme uphill challenges. It's up to you to make it a "Treat" by being prepared, anticipate questions, build strategies to address organizational issues, and be prepared to demonstrate the positive monetary impact and exceptional use of capital that we all know marketing delivers!

Happy Halloween and here's to a TREAT for you in budgeting!

Cheers!

Bruce

Doing more with less

I am guessing that a few of you (or more) have been asked to cut your budgets for 2009. So what are you going to give up? Do you have to give up anything? Can you maybe just take the slack out of the line and do more with less? ABSOLUTELY!

Let's make this blog short today...Here are some areas for you to review before you panic too much!

1. Take a look at your media buys. Do you invest in television spots? Are you getting enough airtime to really get noticed? Do you get premium spots or mid-day on TBS? If you aren't getting the airtime to make a difference, think about cutting here, or applying it to a media that will garner more exposure.

2. Donations. You all make them. But how many times a year do you donate to the United Way? Do your branches have a discretionary budget for market-specific donations? Are they all giving to one organization but at a lesser amount that will generate less publicity? What if you tighten those reigns a little and make one substantial donation (which may be less in total!).

3. Chotchkis. One of the greatest potential threat to your budget. You know those pens, pads, suckers, dog biscuits, mending kits and water bottles you buy to give to people (sometimes for no good reason)? I understand the concept of price breaks, don't get me wrong. But in TOTAL, you may pay less per pen, but have a bazillion more pens than you need and a higher bill to pay. Your staff does not need a scratch pad with the bank logo on it, and the dogs and kids will never miss the suckers (and neither will the owners/parents!). Take a good hard look at your inventory...think about a "just in time" inventory system rather than having things on hand. And you don't have a to have a new t-shirt for every parade your employees walk in!

4. Have everyone brush up on their people skills right now. You will be amazed at how far a smile will take you during tough times!

And remember to be extraordinary today!
Jenna

ALCO is not dog food (and other great survey responses!)

Q: What is an ESOP?
Survey Answer: A Greek who wrote a series of fables.

(Real asnwer: An Employee Stock Ownership Plan)

I am not trying to be either facetious or pretentious here. But these are some actual survey answers given by employees at my former bank when we did some internal testing of bank acronyms and product names to see if we ourselves knew what we were communicating to employees and customers.

The companion survey for customers resulted in an even more dismal response. It became apparent that the chosen few inside the bank had become so comfortable in our banking nomenclature that no one was clear what we were communicating. Even the new, exotic names we had given to some standard products were failing to connect to the customers because they lacked an educational component that was paramount to relating relevance to customer need.

Remember this. The Wall Street Journal is written for an 11th grade education. The New York Times for a 9th grade education. These newspapers never assume that the reader is up on all the acronyms that are used in everyday business and life. Or that the average reader knows what is meant things such as credit default swaps which has garnered much ink during the current financial crisis. They painstakingly educate the reader so that the articles have relevance to the lives of average Americans (who also happen to be your customers).

Others, such as Jim Cramer, host of Mad Money, use analogies to make their point. Last week, Cramer described a credit default swap this way: “It’s like taking out an insurance policy on someone that you are going to kill. And it’s all legal.”

We need to take a lesson from these newspapers and insure that all of our communications—direct mail letters, product literature, etc.—contains a modicum of education so that our customers can make an intelligent decision about the relevance of a particular product or service to a specific need.

This is an interesting time and one where Community Banks can gain incredible ground...if we use communications focused on stability, use words that create understanding and messages that create connections.

Cheers!

Nick Vaglio

Don't Lose Focus

Insurance \in-ˈshu r-ən(t)s\ n: coverage whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril

We are definitely facing specific "contingency and peril" lately. Help guarantee you won’t lose market share.

Adding to an already crazy bank marketing existence, the recent “bail out” plan increased the FDIC and NCUA insurance maximum from $100,000 to $250,000 for deposits. It’s understandable that we need to communicate this important message to our customers, but should it be our main message?

The key to marketing is still differentiation, and when I look around, nearly everyone is either FDIC or NCUA insured.

When you talk stability and security, focus on what differentiates your institution:

• Have you been in the market longer than the competition?
• How does your institution DEMONSTRATE that you’re a pillar of the community? Do you help build local business? Do you donate a newsworthy amount to local charity? Have you helped keep neighbors in their homes? Have you helped finance a life-saving surgery?
• Are you the market share leader? If so, you can make a case that you’re the “most trusted.” If you’re not the market share leader, what do you do better than the leader?
• Find an evangelist – you know, that customer or member who loves everything you do – and create a testimonial. You’ll strengthen your relationship with the customer and have a more compelling story to tell.

Be creative, talk to your front-line staff – they have stories. But in the end, don’t lose focus on what really differentiates your institution.

Take care,
Eric

Short-term Memory....loss? Or gain!!!!

Greetings...

Today is Columbus Day and most of you are hopefully spending time with your kids, doing some early shopping for Christmas, or just enjoying the bank being closed!

I am taking today off...and enjoying every moment of it, too!

However, this past weekend was a little rough. You see my son is a 9th grader and starts on offense and defense for his High School freshman football team. On Thursday night, they had the biggest game of the year...the annual battle with our rival Centerville! He was so excited for the game...he could hardly stand it. And now he hardly remembers it...

On the 1st defensive series, he got hit in the head with a knee...and he saw stars! He didn't tell anyone and stayed in the game. Later in the 1st quarter, he hit helmet to helmet with a running back (great tackle) but rung his bell again! Watching him in the stands, I could tell he looked a little woozy, but I thought the trainers are right there...they will say something is he is too bad!

Well...after the game (we lost 48-30) he walked off the field and I met him at the gate...he walked with a tilt and had glassy eyes! No one ever said anything...and he was obviously not thinking clearly! He played the whole game with a severe concussion!

He is on the track to clearing the cobwebs and is in on "brain rest"....(sounds like what I need!) and will be OK. It just will take some time to get back to his baseline, which we know because the school tested all athletes before the season...just in case of such a situation. He will be fine and is looking forward to baseball season now...he will miss his last 2 football games, but in the long run...that is a very small price to pay to make sure he is OK. He took a biology chapter test today...much to my amazement that he could think clearly enough...and got a 100%! He's going to be fine!

Now the dramatic connection to banking....

We ALL feel a little woozy, walking with a tilt, and seeing a little fuzzy right now with the battering the industry has been taking over the last several weeks....actually last several months! However, now is the time to remember that we will ALL be OK. Its time to stay aggressive...stay in the game, and know that it will all be worth the effort. We need to all go back to our "baseline" results and share them with our staff. We are still strong. We are still capable of getting a 100% on tests...those tests are just different now.

Our tests now come with comforting our customers, informing our staff's, working with the local media, and ensuring stockholders that we are, indeed, a strong industry. Just like Casey stepping up and getting a 100% on his biology test when I did not think he could, you, TOO, can step up and hit a home run for your organization.

Now is the time for marketers to be front stage and leading the bank forward. We need to be visible, communicative, and leading the charge to ensure we EXCEED the customer experience that our customer's expect. Now is the time to step up and excel...when no one thinks we can. Now is the time to make the points of difference in your market. Now is the time to runs ads and educating staff and customers alike. Now is the time to go for it...

You can be a difference maker and the extra focus and effort now will pay double dividends once the economy and market realities turn around...

Now...let's get out there and play hard!!!

Cheers!

Bruce

Why are we loyal?

My office is located about 2 miles closer to the FedEx Store than to the UPS Store. I also don't have to contend with stoplights and traffic when I go to the FedEx store. It's made me faithful to them for no reason other than a couple selfish conveniences.

Recently, I was trying to ship two amazing Eric Wahl paintings that were created live at the ABA Marketing Conference in Denver. The canvases were HUGE!!! I went to the FedEx Store and asked to buy a box. Their box was custom made to fit the dimensions of my artwork (wish I could actually take credit for them!) and a fragile stamp would be put on the exterior of the boxes. It all sounded great...customized boxes...handled with care...just what I wanted! Then the hammer fell. It would be $20 per sheet and each painting would take anywhere from 3-5 sheets. That's $100 a box! YIKES. I asked about alternatives, here's the response I got:

"There's an art and framing store over off of 120th called Aaron's Framing something-or-other. I send my clients there because you can get boxes for a lot cheaper than you can get them here. I will hold on to your shipping labels for you so that when you bring them back in the boxes from Aaron's, you won't have to fill everything out again."

Imagine my excitement! That was exceptional customer service. Until I showed up at Aaron's Framing place and was told by the store manager that not only do they not have boxes, they don't even keep the boxes frames were shipped to them in. Oh, and they also send all of their clients to the UPS store. UGH!

So, I went to the UPS store holding out little hope of finding a box. And then it happened. The nice woman said that not only do they have the box for me, but they have boxes specifically made for artwork and they will wrap the paintings in plastic (in case it rains where they are delivered) and make sure they arrive in one piece.

It was amazing. And the icing on the cake came when the clerk (Mary) said, "here, take my card, next time you have a shipping challenge like this, just give me a buzz and I can help you out before you drive all over town looking for shipping materials."

From now on, I will drive 2 extra miles through stoplights and traffic to get assistance from Mary. Mary is my shipping expert.

I don't need to spell out how this relates. But to keep you thinking in this marketplace, how many of the big-banks are in your marketplace? Do you think their customer service reps are happy? Do you think they hand out business cards and tell customer to call them next time they have a problem? NO WAY! They can't even guarantee their doors will be opened tomorrow.

This is your opportunity to capitalize on a tremendous opportunity. A guarantee to your customers that you are the expert and you will be there next time they need help. And all you need is a business card and a smile. It doesn't get any better than that!

Be extraordinary today!
Jenna

Assumptions... the greatest form of evil??

Okay, there are instances where things are rather obvious. If you see someone in your office walking down the hall with a newspaper tucked under their arm you have a fairly good idea where they just came from. And you probably want to avoid shaking their hand. But not all assumptions are as obvious.

There are these two young fish swimming along, and they happen to meet an older fish swimming the other way, who nods at them and says, “Morning, boys, how’s the water?” And the two young fish swim on for a bit, and then eventually one of them looks over at the other and goes, “What the hell is water?”

(If at this moment, you’re worried that I plan to present myself here as the wise old fish, please don’t be. I am not the wise old fish...just a guy with good eyesight and marketing vision!)

The immediate point of the fish story is that the most obvious, ubiquitous, important realities are often the ones that are overlooked in everyday life and business.

Sometimes, as employees that serve the public, we fail to remember that we are exactly like our customers before we come through the office door. You have high demands and expectations, too! The coffee we pick up on the way to the office had better be perfect. The dry cleaning must be perfectly pressed. And your financial planner had better be devising a long-term plan that is in your best interest.

And then, in the case of some bankers, something happens when we take our positions behind the teller desk or on the other end of the phone. Too often, we make assumptions about what is on our customers’ minds and what it is that might provide the most relevant solution to their most pressing problems. Too often, the conversation at the point of sale is dominated by what is in the best interest of the bank.

Sometimes the solution is simply to put yourself in the customers’ shoes, ask the right questions and exceed those same expectations that you demanded before you walked through the office door. By asking, “how’s the water?”, you might be surprised by the amount of information that your customer or prospect is willing to tell you.

For me, its about alinging marketing with sales, our actions with our customers and our banks with our marketplace...

I am pleased to be joining MarketMatch and you can look forward to many more thoughts and anecdotes through our Blog in the coming weeks and months.

Cheers!

Nick Vaglio

Carpe Diem

Carpe diem. Seize the day.

Today is an historic day. Not just in American history but in the world of banking. With all of the buyouts, mergers, acquisitions and failures making the news today, your customers are scared. They are scared because they don't understand.

Again, carpe diem! You have the opportunity to help your customers not only understand that you aren't going anywhere but that you can help them get ahead of the curve.

Many of you are reading this blog from small-town America. A place where when your neighbors say they are going to "the bank," everyone knows they mean you. Sure you have competition, but you also have loyal customers. Customers who don't say it out loud, but are secretly worried that their bank will be gobbled up "just like the rest of them have." What they aren't understanding is that you are here to stay. You didn't dabble with sub-prime lending. You haven't over extended credit. You are safe and sound.

Now is your chance to put your customers' minds at ease. Don't do it in a letter or a statement stuffer. Talk to them. Write an article for your local newspaper. Do something charitable that will say to everyone "We are here to stay. You are our family and we love you and we aren't going anywhere."

You have a tremendous opportunity in front of you. Not only for maximizing existing relationships but for capturing new customers. Those customers of the bank down the road who haven't been told that the doors will still be opened tomorrow and they will not be selling out in the foreseeable future.

When you communicate your safety and soundness, your community will listen...and respond.

Carpe diem,

Jenna

Marketing is a funnel....

Greetings...

By the calendar and the start of school, fall has arrived. By a quick look at the thermometer (93 degrees this morning) summer is still going strong!

But the truest test of fall's arrival is the start of College football! To those of you that know me, you know that I am a die-hard Ohio State Buckeye fan (O-H...I-O) and follow the team diligently. In doing so, I also follow other major teams and track our progress, chances of another national title game, and upcoming competition.

Here is the connection to financial marketing...being prepared for what we know...and what we do not know! This past weekend, our Heisman-hopeful running back Chris "Beanie" Wells went down with an injury. I saw the season flash in front of me! To our bankers, their bank's "season" is flashing in front of them as the sub-prime loan crisis continues to wiggle through the industry and the economy. Factor in the oil prices and the hurricane-prone weather and we have lots of "stuff" that is outside our radar that impacts our bank.

The key is being prepared and ready for anything that comes our way. As Nick Vaglio and I were delivering the latest eCollege series on our book "Shift Happens", he shared a story about a friend of ours (Steve Stevenson) and his preparations for ALCO. At his bank, Steve was not on ALCO and he was making every effort to be allowed to join the committee. To little success. So instead of concentrating on what he knew (not being on the committee) he concentrated on what he did not know (the meeting outcomes). He went to work on campaigns, messaging, communications, etc. all built around the two primary realities of ALCO (1. we need money or we have money and 2. rates are rising or falling). He created ready-to-go support programs for each scenario and when ALCO met and then came to him after the meetings with the current reality, he was able to quickly deliver support for the need of the bank. Within a short period of time, with his support being so thorough, timely, and actionable, Steve was asked to join ALCO. A win for everyone!

Think about your institution...are there things that you do not know...that can severely impact you or your ability to create success? I am sure there are at least a few. Prepare for them! You may never know when they will arrive...the only thing sure is that they WILL arrive. If you are prepared, thoroughly ready, and have though through contingencies...you will deliver for your bank and perhaps equally as importantly, you will deliver for yourself and your career. With this simple but demanding step...you are Making Marketing Matter, positioning marketing as a philosophy and not simply a department...and moving your bank forward!

So, your homework? Identify 2-3 outside variables that you do not know when they may occur...but you know WILL occur. Prepare a plan and support for each. They may be a "merger", "loss of a large community employer", or some other potential obstacle. Get planning...and get yourself ahead!

Cheers!

Bruce

Transition to a Marketing Philosophy: Step 1

Be engaging. That's it. It doesn't sound challenging, does it...especially for a marketing person. Generally speaking, we are the most engaging of human kind! So what's the news here you ask? Great question, let's dig in!

As a marketer, you need to understand all areas of the institution, its issues, challenges and successes. Once you understand these elements, you can better articulate your marketing strategy and put yourself in the drivers seat of change.

Engage your CFO. The CFO has an endless supply of knowledge that can help you in your efforts. Become best friends if necessary, but leverage their knowledge and be recognized as an agent of change and a catalyst to get things done in the bank.

Engage the staff. If you don't take the time to communicate with them (and get their endorsement) why should they take the time to embrace your strategies. While you may be the leader, leaders alone don't win battles...you need all of the troops. Seek their involvement, detail how their position and input impacts the overall bank and the marketing efforts. Everyone loves to feel as though they are a part of something bigger.

That's it. It's not rocket science, but sometimes we all need a little reminder that we are not in this alone and that engaging the key players around us can set us up for great success!

Check back on Monday for step 2!

Be extraordinary today, and have a great weekend!

Jenna

Department vs. Culture

As a passionate bank marketer, I believe that one of our primary career goals should be to shift the mindset of the bank from having a "marketing department" to having a "marketing philosophy."

Departments are great for WalMart, Target and even JC Penney. But is a department good enough for Nordstrom? When you ask for help in many department stores, you receive directions to the "department" that can help you. At Nordstrom, if you are in the shoe department and ask for help with a neck tie, not only do they walk you over to the tie department, they stay with you until a neck tie specialist is available to help you.

So how on earth does this relate to banking and marketing? You know your institution has embraced the marketing philosophy when you hear your teammates using works like "we," "us," and "our" as opposed to "they," "them" and "their." When staff members begin to think of the bank as one cohesive team and realize that the only objective is to serve the customer, great things will happen. There will be no more "that's not my department." And rarely will you hear "you have to see someone in that department to do what you are asking of me." Sales will be less of a job requirement and more of a natural instinct.

Your role as a marketer is to be an agent of change. With a constantly shifting economy and customer base, a marketer has to set the tone and lead the charge. So how do you do this? For some of you it will be a challenge, but for others, it will be second nature.

According to Nick Vaglio and Bruce Clapp, in their book, "Shift Happens: The New Age of Bank Marketing" there are four elements to becoming an agent of change:
1. Engaging
2. Listening
3. Empowering
4. Communicating

Our next several blogs will help you embrace these elements, be an agent of change, and witness your staff shift their mindset from the perception of having a marketing department to the reality of having a marketing philosophy.

And don't worry...several blogs does not necessarily translate into several weeks. Today is Wednesday, look for more on Friday!

Do something extraordinary today!
Jenna

Relevancy Failure: The Shift is Happening

Once upon a time, every town had a bank. And the bank served its customers who made deposits, wrote a couple of checks and maybe had a mortgage. The End.

When I was a kid, I called those days, "The Olden Days." As an adult and passionate marketer, I call those days, "The Irrelevant Days." Relevancy is subjective in that what is relevant to my grandmother is not relevant to my parents and what is relevant to my parents is not relevant to me.

I don't want to get on my Generational Marketing Soapbox again...you all have heard about it and it is in your hands whether or not your bank chooses to embrace the knowledge and take action. So let's talk about relevancy and how the shift has happened.

Nick Vaglio and Bruce Clapp, in their book, "Shift Happens: The New Age of Bank Marketing," talk about customer advocacy and how banks are losing their advocates at alarming rates because of their failure to remain relevant to those customers. Advocacy doesn't come from one demographic...it encompasses ALL generations, races, religions, and any other qualifier you care to throw in the mix. Baby boomers cannot be viewed as one homogeneous group. People aged between 44 and 62 have VERY different needs.

I have a good friend (Jen) who is 45 with a 16 year old son who sports a mohawk. My dad is 62 and has a countdown to retirement calendar on his desktop. Technically, they are both baby boomers. Do you really think you can market effectively to the "boomer group" if you lump them into one category?

EVERYONE is looking for the institution that is in tune with their lifestyle. My dad wants an institution that will help him manage his money and provide income direction post-retirement...a "banker" that understands his lifestyle and can help him maintain his standard of living. Jen, on the other hand, wants convenience. A bank that is quick, fast and efficient, allows unlimited debit card usage and maybe an easy way to save for not just her future, but her son's as well.

Can you do both? If you can't, you're in trouble. And don't forget the youth segment (those kiddos between 18 and 25) who are 30% of the US population, spend about $200 billion per year and have a say in household decisions. Oh, and in the next 10 years they will reach an income of $3.48 TRILLION putting them light years ahead of the Baby Boomers.

Can your bank afford to NOT be relevant? Read the book...it will help, I promise. And if you can't afford the book, email me (jrowland@marketmatch.com) because in my opinion, you can't afford to NOT not be relevant.

Make today an extraordinary RELEVANT day!

Jenna