In 480 BC, a dedicated force of 300 Spartan warriors held off a far greater Persian army - numbering more than 100,000 for 7 days during the Battle of Thermopylae.
How? A strategic FOCUS. A dedication to building MOMENTUM. Continually monitored RESULTS and the help of a few friends to achieve them.
Most community banks and credit unions that we talk to are just like the Spartan army. They are usually an army of one person (or a small few), who is strategic planner, accountant, copywriter, art director, secretary, media buyer, interactive expert and public relations specialist. But you too can hold off the onslaught of a much larger banking enemy.
Focus: Defend a narrow pass, making your enemies enormous size irrelevant.
The Spartans chose to defend a narrow pass, where they could not be flanked by Calvary, limiting the size of their enemy’s front line and that was ideally suited for the Spartan weapons 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 a thousand things that you, as a financial marketer, could be doing. What is the focused strategy that will best build your business?
Momentum: A single-minded dedication to only those tactics that best propel your strategy forward.
For the Spartans, momentum wasn’t gaining ground, but rather holding ground and chipping away at their enemy’s forces. Their advantage was home turf and their smaller size.
You are in a similar situation. The goal for most community banks and credit unions is not market domination, but rather market share gain. You can accomplish this because of your small size. Like the Spartans, you know the terrain and the people. The larger regional and national banks have the larger budget, but you have the focus and knowledge of your own backyard. Every dollar you spend can be to drive targeted business you’re your institution.
The Spartans smaller size also helped them to better manage resources versus the massive Persian army who quickly burned through their food and water.
Your resources are just as vital. Your resources are hours and dollars. Determine what tactics are most vital to your success and focus your resources there. Do you really need to spend 2 hours on a statement message or an afternoon on a newsletter article? Are all of your sponsorship dollars generating a return, either in awareness or actual business? Look at how you spend your resources this week. Are they being used best to hold off the massive big-bank army?
Results: Constantly monitor success and failure. Don’t be afraid to ask for help.
After each battle, the Spartans had to compare their losses against the enemy’s. And they did not achieve their success alone. While the Spartan 300 are legendary, in actuality, 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 it up. The moment it fails, kill it and redirect resources. Determine what you need to do today/this week/this month/this quarter – do you have a single-minded drive to do it? Are you accomplishing it on time?
Finally, as well trained and skilled as they were, the Spartans couldn’t do it alone. Really analyze your capabilities. Determine what 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.
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