In 480 BC, a dedicated force of 300 Spartan warriors heldoff a far greater Persian army - numbering more than 100,000 for 7 days duringthe Battle of Thermopylae.
How? A strategic FOCUS. A dedication to building MOMENTUM. Continually monitored RESULTS and the help of afew friends to achieve them.
Most community banks and credit unions that we talk to arejust like the Spartan army. They areusually an army of one person (or a small few), who is strategic planner,accountant, copywriter, art director, secretary, media buyer, interactiveexpert and public relations specialist. But you too can hold off the onslaught of a much larger banking enemy.
Focus: Defend anarrow pass, making your enemies enormous size irrelevant.
The Spartans chose todefend a narrow pass, where they could not be flanked by Calvary, limiting thesize of their enemy’s front line and that was ideally suited for the Spartanweapons and training.
There were a thousand strategies that the Spartans couldhave chosen, but they weighed their options and put everything into the one,targeted plan. Similarly, there are athousand things that you, as a financial marketer, could be doing. What is the focused strategy that will bestbuild your business?
Momentum: Asingle-minded dedication to only those tactics that best propel your strategyforward.
For the Spartans,momentum wasn’t gaining ground, but rather holding ground and chipping away attheir enemy’s forces. Their advantagewas home turf and their smaller size.
You are in a similar situation. The goal for most community banks and creditunions is not market domination, but rather market share gain. You can accomplish this because of your smallsize. Like the Spartans, you know the terrainand the people. The larger regional andnational banks have the larger budget, but you have the focus and knowledge ofyour own backyard. Every dollar youspend can be to drive targeted business you’re your institution.
The Spartans smaller size also helped them to better manageresources versus the massive Persian army who quickly burned through their foodand water.
Your resources are just as vital. Your resources are hours and dollars. Determine what tactics are most vital to yoursuccess and focus your resources there. Do you really need to spend 2 hours on a statement message or anafternoon on a newsletter article? Areall of your sponsorship dollars generating a return, either in awareness oractual business? Look at how you spendyour resources this week. Are they beingused best to hold off the massive big-bank army?
Results: Constantlymonitor success and failure. Don’t beafraid to ask for help.
After each battle, theSpartans had to compare their losses against the enemy’s. And they did not achieve their success alone. While the Spartan 300 are legendary, inactuality, they had the help of thousands of other Greeks.
You may not have to monitor results daily like the Spartans,but fewer resources require you to more frequently monitor results. If a tactic works, continue or ramp itup. The moment it fails, kill it andredirect resources. Determine what youneed to do today/this week/this month/this quarter – do you have asingle-minded drive to do it? Are youaccomplishing it on time?
Finally, as well trained and skilled as they were, theSpartans couldn’t do it alone. Reallyanalyze your capabilities. Determinewhat you do best and outsource those strategic items that others may do better.
MarketMatch is a full-service marketing firm, dedicated to the credit union and community banking community. We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.
