Ahh …. What to do with Marketing?!?!Who should you answer to? Who are your best friends? What department are you closest aligned with?
As marketers, we’ve all been called “crazy.” And you know what? They’re right! We’re absolutely, out of our mind, certifiable … in one very specific area … we all NEED split personalities. We must think like a CEO, CFO, Retail Manager, Lender and Commercial & Investments gurus … and still be the Marketer with the great ideas. We are the one department who needs to be comfortable in EVERYONE’S office and who should visit each office regularly.
CEO
Everything we do as Marketers needs to be aligned with the business objectives of the bank or credit union. The very first question we should ask in planning is, “what will our institution consider success at the end of the year.” Then, we need to track and report the progress against those objectives regularly.
We also need to make sure that the brand we portray is in line with the direction that the Board and CEO have set for the institution.
FINANCE
We need to think like a CFO. Based on ALCO decisions, what products do we need to be focusing on? You should be meeting with your CFO during planning to agree on variables to include in ROI analysis. Then, meeting regularly to discuss any changes in the financial situations of the institution or market.
As Marketers, you should be able to look at your Call Report and make some educated assumptions on direction and easily gain specific tracking data.
As Marketers, you should be able to look at your Call Report and make some educated assumptions on direction and easily gain specific tracking data.
RETAIL/OPERATIONSMarketing must be involved in branch-level training and processes. How do your campaigns affect the branch delivery? How can you work together with Operations to streamline processes and improve the customer experience? What do the branches see that can give you ongoing insight into changes in market conditions, perceptions and needs? Does the team need more effective tools to facilitate meaningful conversations and better discuss what we have to offer with customers?
Our branches are often Marketing’s greatest allies. It’s not just our job to drive traffic to them; it’s our job to help maximize every interaction at them. A close connection with the Operations people will help you to keep your finger on the pulse of the institution.
LENDING
Certainly it’s our job to increase loans with existing customers and drive new interest from potential customers. But which loans and to what audience? A close relationship with your Lending Manager will help you to understand who to target. Who are you likely to approve or deny … and why?
COMMERCIAL/BUSINESS DEVELOPMENT
Commercial is a personal sell. The most successful Commercial and BD professionals leverage one-on-one relationships with businesses. But communication and targeting are still involved. Marketing can help Commercial in identifying the best companies to pursue, acquiring new business and growing existing business. We can provide communication campaigns to specific industries or produce materials for one-on-one meetings.
INVESTMENTS
Like Commercial, Investments are a relationship-driven department. And, like Commercial, the Investment folks should be partnering with Marketing for more efficient growth, segmentation, communication and measurement.
Between regular meetings with the CEO, CFO and the rest of the Senior Management Team and your continued visits to the branches to talk with front-line staff, the Marketing Manager should rarely be found at their desk. We are literally the tie that binds all of the financial institution’s departments and initiatives.
Where does Marketing fit in the org chart? Smack-dab in the middle! Driving growth everywhere and being included in most major decisions.
-------------------------------------------------------------------------------
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 the greatest MOMENTUM for your organization and demonstrate RESULTS with our written ROI Guarantee.
Want to learn more? Enroll in the MarketMatch eCollege! Smart online sessions delivered with CFMP credits, tactical advice and a game plan for success!
No comments:
Post a Comment