Posts Tagged ‘Membership’
How deluded management almost diluted a brand
Anyone that has gone on the Kentucky Bourbon Trail (yes, it does exist), has probably visited more than one of the participating distilleries. My wife and her sister have used the trail as an excuse for a weekend getaway more than once, and one of their favorite stops was at Maker’s Mark. Why? Because Maker’s…
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Lemming let down
Never tell my mother I said this, but…I was a lucky kid. You see my father was the director of a state agency in South Dakota through the eighties and early nineties. When the State of South Dakota decided to upgrade their technological infrastructure, they allowed employees to purchase PCs on their bulk order. Because…
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What if an alien biologist landed on your desk?
The other day, I saw a very interesting phrase as I was skimming a series of random business articles: “Business is an ecosystem, not a battlefield.” My first reaction was “Well, duh.” That’s a pretty obvious worldview. A fraction of a second later, I remembered — “oh, yeah… most people don’t see business (or life)…
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Carrot or stick? I prefer a club.
Everybody knows that a carrot is the reward for doing something right, and the stick is the punishment for when you don’t. Well, banks have typically used sticks instead of carrots to get people to act in a certain way, and lately, some credit unions have followed their lead. Instead of enticing people with carrots,…
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The-Word-That-Must-Not-Be-Named
Harry Potter reruns have been on TV lately, and every time I hear “He-Who-Must-Not-Be-Named,” I start thinking about other words that are rarely spoken for fear of retribution. “Profitable” is one of those words that you may never hear at a credit union. At least, spoken out loud. Yes, I know that credit unions are…
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It’s time for your mid-year marketing review
No, not your employee review, although if you flunk this one, you may need to be worried about that. Take a little time right now to go through a Mid-Year Marketing Review Where do you and your credit union stand right now with regards to your strategic goals in these areas? Loan Growth Membership Growth…
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Pay-what-you-want banking?
If you were opening a new restaurant, would you consider letting your customers decide what to pay? Panera re-opened a restaurant as a nonprofit in Clayton MO, asking their customers to “pay-what-you-want” for their meals. Cashiers do tell customers a “suggested” price, and there are workers at the door to explain the concept that it is…
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When it’s okay to preach to the choir
I have heard variations of “preaching to the choir” all my life. Of course, I grew up as a P.K. (preacher’s kid) and even have a brother who became a minister in his second career, so maybe the phrase has a deeper psychological meaning with me than most people. But today, it seems to apply…
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Dirty words
Over the past several years, more and more credit unions have eliminated certain “dirty words” from their marketing and identity. Words like “member”, “join” and even “credit union” are now taboo in a lot of places, and online account access is almost always called “home banking.” And when was the last time you heard “share…
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Getting married on the first date
Why do credit unions still focus so much on marketing checking accounts to non-members? I mean, I know why — the checking account is still the best indicator of a PFI relationship, and it’s extraordinarily “sticky”. Members with checking are loyal members, or at least they’re stuck with you for a while. I get that.…
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