If you have been living in a CAVE you don’t know who Hanna Montana is, how she’s related to Miley Cyrus and what the Disney Channel has to do with all of it. You probably haven’t opened a checking account online, read a blog, or landed a HUGE account without taking the new client golfing.
I was talking with a colleague the other day and he was filling me in on the incredible marketing conference his company hosted for the eleventh consecutive year. The final session of the conference featured a presentation by Brian Grubb of the Ritz-Carlton Leadership Center. In his presentation, Mr. Grubb introduced the CAVE people, and in my humble opinion (I was going to write IMHO until it occurred to me that I have a job because not everyone understands that yet) these are the most dangerous group of people. CAVE people are to us marketers what Lord Voldemort is to Harry Potter, Kryptonite is to Superman and Jessica Simpson is to the Dallas Cowboys.
Are you wondering what a CAVE person is and why the letters are in all caps? C.A.V.E. people are those people who are Consistently Against Virtually Everything. Do you know any? Think harder. I have never stepped foot in a bank that didn’t employ at least one CAVE dweller. So how do you overcome that? Simple. Here are three ways to help the dark dweller overcome their fear of the light:
1. Get him/her involved. If you have a marketing team in place (the kind that consists of leaders from each department) make him/her the leader of the team. Help them develop ideas, implement a few of them and make sure that he/she is recognized PUBLICALLY for their outstanding participation and idea generation.
2. Try to understand why they hate the world. Do they subscribe to the theory of “if it isn’t broken, don’t try and fix it?” Or perhaps they have been around the block a time or two and believe there is no other way to do things. Try to learn what makes them tick and why they don’t want to try new things.
3. Embrace those things you cannot change, rise above, and move forward. Sometimes gently carving your path rather than blazing the trail will lay the footwork for others to follow your lead. Accept differing opinions—never dismiss them.
As you find creative ways to deal with your CAVE people, remember that while they may be against everything, they probably stand for something. Learn more about their passion and try to appreciate it…it will probably provide great insight into their negativity. You know, mutual respect while working with others goes a long way in many different aspects of the day-to-day work.
Here's to seeing the light!
Jenna
Selasa, 27 Mei 2008
Senin, 19 Mei 2008
Another American Idol Blog?
So what does the mot popular television show in recent history have in common with banking…A LOT! I am going to make some generalizations that are backed up by fact.The objective of American Idol is to find the next Top-40 superstar that can rival Beyonce, Matchbox 20 and Miley Cyrus. I am not sure about you, but my baby boomer parents wouldn’t know who Miley Cyrus was even if I called her Hanna Montana (OK, bad example…they haven’t been hiding under a rock for the past year, but you get the point.). It is safe to assume that the target audience for American Idol are teens, tweens, gen Y and maybe a few young Xers.
Demographically speaking, American Idol is drawing viewers significantly outside their target audience. The Neilson Television Ratings were released a couple of weeks ago and here’s we’ve learned…
According to The Nielsen Company, 29% of the audience (audiences average more than 30 million viewers each week) is between the ages of 35 and 49. This is the single largest group of viewers.
How does this relate to banking, you ask? I’ll make this easy…just because you INTENDED to appeal to a specific audience doesn’t mean that you won’t experience GREAT success with a different group incidentally. American Idol is setting viewership records left and right. Hopefully the executives at the record labels are learning to be prepared to cut records that reflect the buying behaviors (or listening behaviors) of those who cast their votes for the next Idol…keeping in mind that that they are not necessarily those you intended on appealing to.
What I am trying to say is that if you have an amazing promotion that is aimed to get lots of stable, reliable deposits (probably from those that have been in the workforce for 10-15 years), be prepared to attract smart Generation Y kiddos who have a good college job and want to open an interest bearing checking account. They are a smart, savvy and very thrifty group those GenYers!
So maybe it’s a bit of a stretch…but it’s important that you think about it. They may not be your target market but they are your inevitable market. As bankers, we need to think differently about the way we do things. What we did 10 years ago that attracted the savvy generation X will not work for this new group. Their expectations are higher, their reliance on technology to accomplish most tasks is unprecedented and they have grown up in a world where it is easy to jump a fence if the grass is greener on the other side.
I suggest your start watering your lawn.
Happy Monday!
Jenna
Demographically speaking, American Idol is drawing viewers significantly outside their target audience. The Neilson Television Ratings were released a couple of weeks ago and here’s we’ve learned…
According to The Nielsen Company, 29% of the audience (audiences average more than 30 million viewers each week) is between the ages of 35 and 49. This is the single largest group of viewers.
How does this relate to banking, you ask? I’ll make this easy…just because you INTENDED to appeal to a specific audience doesn’t mean that you won’t experience GREAT success with a different group incidentally. American Idol is setting viewership records left and right. Hopefully the executives at the record labels are learning to be prepared to cut records that reflect the buying behaviors (or listening behaviors) of those who cast their votes for the next Idol…keeping in mind that that they are not necessarily those you intended on appealing to.
What I am trying to say is that if you have an amazing promotion that is aimed to get lots of stable, reliable deposits (probably from those that have been in the workforce for 10-15 years), be prepared to attract smart Generation Y kiddos who have a good college job and want to open an interest bearing checking account. They are a smart, savvy and very thrifty group those GenYers!
So maybe it’s a bit of a stretch…but it’s important that you think about it. They may not be your target market but they are your inevitable market. As bankers, we need to think differently about the way we do things. What we did 10 years ago that attracted the savvy generation X will not work for this new group. Their expectations are higher, their reliance on technology to accomplish most tasks is unprecedented and they have grown up in a world where it is easy to jump a fence if the grass is greener on the other side.
I suggest your start watering your lawn.
Happy Monday!
Jenna
Senin, 12 Mei 2008
Energy
Greetings...
May is officially 1/2 over...which means the year is nearly 1/2 over, too. So, what does that mean? It is (again) time to evaluate where you stand in relation to your goals, expectations, and planning.
I say it is again time because evaluations of your position and progress should be ongoing and constant. Check in with yourself on your personal progress, bank progress and progress toward your year-end strategic planning goals.
This past week, I had the pleasure of once again being part of the faculty for the ABA School of Bank Marketing and Management. I am continually energized by the quality of the student, focus, and effort that is displayed during the week. The school is an intense experience that is a vital step in any ones financial marketing career. Tip of the hat to the Class of 2008 (what an amazing group of talented individuals!) as they graduated from the school. The Class of 2009 is an energetic, inquisitive group that will, undoubtedly, leave their mark on the school, too.
The school is a stepping stone in a progression of personal and professional growth. The school, the ABA conference, Stonier Graduate school (where I also teach) and more...all geared to deliver you to the Senior Management team at YOUR bank.
So....as we near the mid-point of the year, check in with your goals, evaluate your progress, make changes where needed, and explore outlets for professional growth for yourself!
Cheers!
Bruce
May is officially 1/2 over...which means the year is nearly 1/2 over, too. So, what does that mean? It is (again) time to evaluate where you stand in relation to your goals, expectations, and planning.
I say it is again time because evaluations of your position and progress should be ongoing and constant. Check in with yourself on your personal progress, bank progress and progress toward your year-end strategic planning goals.
This past week, I had the pleasure of once again being part of the faculty for the ABA School of Bank Marketing and Management. I am continually energized by the quality of the student, focus, and effort that is displayed during the week. The school is an intense experience that is a vital step in any ones financial marketing career. Tip of the hat to the Class of 2008 (what an amazing group of talented individuals!) as they graduated from the school. The Class of 2009 is an energetic, inquisitive group that will, undoubtedly, leave their mark on the school, too.
The school is a stepping stone in a progression of personal and professional growth. The school, the ABA conference, Stonier Graduate school (where I also teach) and more...all geared to deliver you to the Senior Management team at YOUR bank.
So....as we near the mid-point of the year, check in with your goals, evaluate your progress, make changes where needed, and explore outlets for professional growth for yourself!
Cheers!
Bruce
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