Sell to the Benefit - e-Statements

Think about the information on your bank/credit union statements ... name, address, account numbers, spending habits. Now think about this information being left - unprotected - in an outside mailbox.

Pretty scary stuff, huh?

With e-statements, you remove one more worry for your customers to protecting their good name.

And your bank/credit union will save from printing paper statements every month.

"Saving a tree" is nice, but selling to the security benefit for e-statements will really speak to your target.

Sell to the Benefit - Debit Card & Online Banking

When your customers use cash, the ability to track it seems to go up in smoke!

But, when they use a debit card for everyday purchases, they can track every penny right from their home computer using online banking.

Your customers can better track how much they spend on coffee, restaurants, gas, or anything at all ... and get a better handle on their budget.

And you will enjoy more loyal customers with 2 additional key products ... thanks to basic product bundling and selling to the benefit, rather than the feature.

Getting Philosophical

My son turned 7 this week and it got me to thinking about parenthood.

It seems that we don't raise our children to be like us, but rather ... we raise them to be like the people we WANT to be.

If it also follows that the most influential teaching is to teach by example ... then the act of parenting, by it's very nature, should make each of us more like the people we strive to be.

I would think that this same philosophy applies to management.

No matter your management style, your staff will learn and are are motivated by example. Does the sheer act of being a manager make you a better employee?

Should it?

Take care,

Eric

Using Social Media...

OK...this past Friday, we delivered a Brown Bag Lunch Series session on social media.  HUGE audience and lots of insightful questions.  The good news is that from a session we did in May of 2009 until this session, the industry...and many of the attendees...have picked up steam on their way to integrating social media into their marketing strategies.

Thanks to Jason Kincy (Arvest Bank) for his Guest Commentary and sharing of his expertise, experience and words of wisdom...very well done!

Three key insights for ALL bankers and CU marketers:

• Find the social media that is appropriate to YOUR institution
• Use social media yourself...the best place to start is small and learn as you go
• Compliance is an evolving practice, as it applies to Social Media...document everything!

Here is a humorous reminder of the largest caveat to social media.  If you use it, be prepared for its broad access and sharing.  It will live forever in electronic media so be sure what you share it what you want to share (and have potentially millions of people read it).  Don't be scared, but be prudent!

CHEERS!

Bruce

Community Service Lessons from the Boy Scouts

This year the Boy Scouts of America are commemorating their 100th Anniversary and, to celebrate, they have created a program that we all can learn from.

They have created a Centennial Award. It is a special patch with slots for 5 ribbons - each ribbon signifies completion of achievements in a particular category:

• Leadership
• Achievement
• Community Service
• Character
• Outdoors

To earn a ribbon, a scout (or adult leader) must complete 3 of 5 specific tasks.

So, how would this work at your institution?

You could create a program for your staff and for your customers/members. You can create any categories you like, but let's use Community Service, since it makes the most sense. How about outlining the following standards:

1. Participate in one American Red Cross or Habitat for Humanity project
2. Donate food or time to any local food bank
3. Volunteer at least 1 hour to any local high school function
4. Participate in or donate to the American Cancer Society Relay for Life
5. Organize a litter pick up in your neighborhood

After completing any 3 of the 5 activities above, your customer or staff member get honored in some way.

Don't make it too complicated, base the program on the honor system and take their word for it. The idea is simply to motivate people to participate, not to create a program-policing nightmare.

By creating standards in areas like Community Service, Leadership and Financial Fitness you can have a complete program that would surely effect your community for the better and provide your bank or credit union with unique and positive public relations.

And in this time of negative publicity for financial institutions, wouldn't now be a great time for some good-will in your neighborhood?

Take care,

Eric

TGIM...

TGIM.

That's right...Thank God its MONDAY!

Changing my opinion of Mondays and making 2010 sing!

In case you have not read it, Thank God is Mondays, by Roxanne Emmerich is a quality read. It simply helps you refocus on the important little things that make the important big things easy.

Its all about making the environment in which you work the best it can be...positive, focused, constructive and engineered for team success.

Its kind of like the Staples "easy button"....that was easy!

With the full and complete knowledge that it IS that easy...and at the same time it is NOT that easy. The difference?  Attitude. Confidence. Team Focus.

At MarketMatch we are all about Focus. Momentum. Results. Three key words that sum up our mantra and keep us all working on the same goals with clients and rowing in the same direction.

I encourage you and your team to find that same type of razor sharp focus for you and your team.

It WILL make the difference and help to create a FUN/PRODUCTIVE/ENERGIZED working environment that will be creating great results along the way....

Cheers!

Bruce

It's Time for March Madness!

College basketball fans all over are getting excited about the upcoming national college basketball championship referred to as "March Madness." I am no exception! The intensity and quality of play as teams are eliminated provides a great deal of entertainment.

Productivity drops as countless office pools surface and conversations around the copier, water cooler, etc. last longer. Although most only invest one dollar in the office pool, they probably spend more time researching and picking their teams than they spend researching and picking a stock for their portfolio.

March also signals an opportunity for community banks and credit unions. People are receiving their tax refunds and need a place to put those refunds that is safe and secure. The effects of winter has taken a toll on landscapes, property, etc.. People are returning to the showrooms to replace that automobile that they made last "just one more year." Consumer confidence is returning and people once again are thinking about and planning that much needed vacation.

In short, "March Madness" might also refer to the consumer loan demand that is out there!

Is you institution prepared to respond?

How long has it been since your institution took a hard look at whether your consumer loan product line is competitive?

Does your market recognize your institution as the "best place" to go for a consumer loan?

If you answered "no" to any of the above questions, the time to act is now!

Have a great week/weekend!

Mike

Where's the Restroom?

So, how did the Ritz-Carlton get it's rep as one of the best customer service providers in the world? I can sum it up in one question ... and answer.

When Pat Mene, Ritz V.P. of Quality (yes, they have a V.P. of Quality!!!) was asked what would happen if a customer asked an employee where the restroom was and the employee politely pointed them in the right direction, Pat said:

"We would make life unpleasant for them."

You see, at the Ritz, the staff is expected to WALK a customer rather than point a customer in the right direction. They just won't walk you INTO the bathroom.

So what does this mean to your branch level. Do your tellers point customers or members to the new accounts and lending staff or do they walk around the teller line and ESCORT the customers to the desk and make formal introductions?

The Ritz adheres to the following Quality Strategy and you can too:

1. Find out what the customer psychologically wants most. They've identifies the following basic psychological wants:

• Beautiful surroundings

• Recognition of regular guest’s needs

• Warm, courteous people

• Consistent delivery

2. Develop standards that respond to the customer’s needs

3. Design processes to assure delivery EVERY TIME!

Take care,

Eric

Monday, Monday...

Good morning financial marketers...

In the spirit of Robin Williams in "Good Morning Vietnam", I share a hearty greeting!

IT'S MONDAY...

I have been reading Roxanne Emmerich's book entitled, "Thank God its Monday!"  A really good read!  The premise is building a team and environment that is the most conducive to success as possible.

So, I ask you to look around your office and institution...1st at yourself.  Are you excited to come to work on Monday?  Full of energy and ideas?  YOU have to be the emotional leader...

If you are coming in excited and ready to go...your team will, too!

I know we have all heard of "walk the walk and talk the talk", it is true!  People watch and make notes of the exec's leadership style and actions. Everything matters!  If we don't follow-thru, soon our staff will take that same cue and slow their efforts, too.  We ALL need to working toward the same goal and we have to be the lead.

Look for more ideas and thoughts about focusing your team and creating and environment that welcomes Mondays!

Cheers!

Bruce

"What Endears Endures"

Holy Cow, we can all learn a lesson from Chick-Fil-A!

With nearly half of the industry average in front-line turn-over and always packed dining rooms, Chick-Fil-A is doing something right. And any service industry - be it bank, credit union or shoe shine - can learn a significant lesson.

You see, Chick-Fil-A credits one simple reason for why they have not been effected severely by the economic downturn...

"What endears endures."

Chick-Fil-A strives to look at each customer interaction as more than a basic transaction ... it's a relationship building opportunity.

Chick-Fil-A, a fast food company, strives to be part of their customer's life. Now, many of you reading this are in the financial industry. We deal with people's money ... their mortgage ... their retirement. What could possibly be more personal and life altering?!?!

We have an opportunity, as the Grand Marketing Poo Bahs of our organizations to build these relationships and capitalize on them.

Chick-Fil-A says that they do not have to create customer stories, they only have to listen, harness them and connect them together. We can do the same, our tellers, new accounts and lending team are changing lives every day. Teach them to LISTEN and understand that what may be common place for them may be a great story. Make sure they share their stories with you.

Finally, use social media. Encourage your customers/members to share their stories with you too.

You simply need to provide your staff the tools to provide outstanding "customer experiences" (not customer service), the autonomy to do what's right and encourage them to share their stories.

Take care,

Eric