Posts Tagged ‘Product Innovation’
Maybe it’s time to ditch the RFP
Let’s say you have a big, important project, like a website redesign or a brand refresh, and you need to hire a vendor partner. So the thing to do is send out a Request For Proposals (RFP) to every company that you can find, then just sit back, wait for the responses, and pick the…
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How will you change the world in only 5 years?
I’ve always been amazed at how the Beatles completely changed America’s taste for music in just 5 short years. It was a culture shift that hasn’t been equalled since. Now, I admit I’m a huge Beatles nerd. I was just a kid when they were in their heyday, but I discovered their music in college and still listen to them…
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Would your members pay a premium?
We’ve written before about the idea of charging for CU membership – what you’d have to do to make yourself feel like an exclusive club worth joining, a la Costco and Sam’s Club. We know people will pay club membership fees – AARP, AAA, social clubs, professional associations – as long as they feel they’re…
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You assume too much
You have a wonderful product that is going to revolutionize the way things are done. It’s fun to use, easy to use, and doesn’t cost a lot. You’ve been talking about it with all of your friends, and they’re super-excited about it. So you refine the product, put as many resources as you can behind…
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Do a few things really, really well
It was a perfect St. Pete Beach day. Blue skies, white fluffy clouds that matched the sand, small crowds since it was also a Monday, and enough of a breeze that you didn’t feel the sunburn building. A great day and a great way to wrap up a vacation. Our nephew, a local resident, finished…
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Blow it up and start over
Let’s do a thought experiment. Close your eyes and imagine getting everyone out safely of the building. Hustle them down the street and issue big bags of popcorn, party hats, confetti, and kazoos. All set? Count backwards from ten and then… Imagine blowing up the credit union. Now imagine how you would build a new credit…
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The $50 question
It’s easy to think of things to give away (free online banking, free bill pay, free overdraft protection, free checks, lower rates), but it’s a lot harder to add a large amount of value. (It’s even harder to actually ask for money.) So I’d like to propose a simple thought experiment: What could you add…
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Your personalized banking isn’t very personal
Plenty of credit unions tout a personalized banking approach, but not many really pull it off. Most will offer a checklist of products from which to choose, but they are all standard variations on a theme. There really isn’t any customization, just a few choices of models. It’s a manufacturer’s mass production, mass market model.…
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Are blasts from the past holding you back?
As a Wordsmith (that’s the official title I put on my business cards, anyway), I’m a big fan of new words. I recently ran across a doozy: skeuomorph, an object or element of design that serves no real purpose, but only echoes some past object. For example, many calendar applications on modern-day computers and mobile…
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Motor madness
As you can probably guess, I’m a motorcycle nut. In fact, motorcycles are my primary transportation — I ride one of my bikes to work every day it’s not snowing too hard. Recently on a large online forum, the topic of financing motorcycles came up. I was very happy to see that several people recommended…
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