Where to Find Your GOLD MINE of Market Data

Where is your richest resource within your company? It’s with your front-line managers and staff. They are the ones who:

• Best understands your customers’ needs and wants,
• Know what and where service delivery is inefficient and not working,
• Have family and friend relationships within the community our customers live in,
• Possibly have friends or acquaintances that work for the competition.

These are just a few of many reasons why it’s important to engage your frontline personnel in your marketing analysis, planning and implementation. Make your frontline part of your marketing team and you will experience your richest resource – your gold mine of market data.

Best,
Melissa

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If you're going to be able to look back on something and laugh about it, you might as well laugh about it now. - Marie Osmond

MarketMatch is a full-service marketing consulting 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.

Standing out in a crowd..

Ok... we have all seen it...the crazy guy with the rainbow hair holding the sign.  It got our attention, right?  For a second, yes.

In the crowded world of banking... we all have options (and so do our customers!) we can---

1. Be the crazy guy in the rainbow wig
2. Be the non-descript woman dressed in casual clothes
3. The young man with the #7 jersey (along with 4,753 others wearing the same!)
4. Or we can be the stylish person that turns head when they walk past...because they just look confident and well put together!

We say #4 all the way!

In recent months, we have been doing a tremendous amount of product evaluation and realignment.  Some because it has been done in a long time and other looking to stay ahead of the curve!

When done right, you become the stylish person that does not need the fancy rate, gaudy hair, or best gift with purchase...peoples will bank with you because you offer the best value for their time, effort and life. 

This is an enduring value proposition...but one that takes strength to offer and stand-by...while others flash their rate, lower their fee or offer a cool new Corningware set!

Hang tough...it WILL be worth it in the end!

Call us...we can help you be strong!

Cheers!

Bruce

I have a dream...

Today is Martin Luther King, Jr. Day...

I was born in the same year that Dr. King was assassinated.  I never saw or heard him outside of film clips and audio sound bites.  One thing that I do know is that he personified hope and determination delivered with a reverence and motivation that inspired people to act.

To borrow a quote from Dr. King...I have a dream...

I have a dream that...

• banking resolves its identity problem
• senior executives finally realize the power of marketing
• the customer experience becomes king
• banks and CUs focus their attention to the outside threats to the ENTIRE industry
• margins increase and LLRs decrease

Here's a tip of my hat to Dr. King and a wish for everyone to have a tremendous 2011!

Cheers!

Bruce

Forget What You Know…

If we remembered everything, we should on most occasions be as ill off as if we were to remember nothing.

-William James

This quote may come in handy when brainstorming new ideas. Certainly your experience is worth a great deal, but sometimes, when it comes to developing new, innovative ideas for promotions, product development, campaigns, or customer communication it helps to initially throw out “what you know.” Putting everything and anything on the table in a brainstorming session can be a great way to brainstorm new ideas.

Many times, we hear banks defending certain marketing tactics with the statement “this is how we have always done it.” Not a very compelling reason, is it? Customer and market perceptions are always changing, so even if you are considering to re-execute a past successful campaign, that doesn’t mean it will be successful when executing it in the future.

If you plan only to repeat successful promotions, you may be missing out on an idea that could be even more successful. Also, if you rule out all unsuccessful promotions, you may be ruling out a good idea that was poorly executed or a good idea that would have been more successful with different situational criteria.

In some scenarios, you can take your brainstorming a step further by removing resource restrictions. If money, supplies, people, and time weren’t limited, what would you do? The ideas you come up with might not be plausible, but they may cause you to uncover new ideas within your resource limits that can make a huge impact.

A healthy dose of “forgetting” is crucial for our ability to think big.

Happy brainstorming!

Jamie

Marketing: Defining Your Role

What role does marketing play? This is a great question that can be applied to many areas of your bank or credit union. And you may come to find that depending on who you are asking the answer may be different.

This year your marketing department may be tasked with a variety of objectives that include forming and supporting your brand, generating traffic, establishing value, encouraging customer/member loyalty, creating effective communication, developing product … and the list goes on. What is the priority for your marketing department? Assuming that you can answer this question, would your CEO, CFO, CLO, and COO agree?

Ask your executive team how they view the role of marketing in your organization. Is it what you expected? Because let's face it, until we know the answer to this question, we can’t begin to define or measure what success for the marketing team looks like in 2011.

Best,

Jamie

Think Inside the Box

Thinking INSIDE the box... that is where it is at!

Ever since I started MarketMatch, we have held a mantra of "thinking inside the box"... it is on our business cards, a crazy picture of me is on our website and it drives our fundamental approach to our clients.

So what IS thinking inside the box?
It is all about doing your homework on who currently does business with you and learning everything you can possibly know about the "who, what, where, how and why"...and then applying those learnings to your greater marketplace.

It is about...

• Analyzing buying patterns
• Visualizing where customers/members live that bank with you
• Recognizing the geographic/zip code/census tract patterns of your customers
• Seeing how your different markets react differently to your marketing messages

And most importantly DOING something with what you learn!

It does not take a sophisticated CRM (although it does help), a full time data analyst (although it makes it easier), or a PHD in statistics (wow...I feel a headache coming on!)

But it DOES take a serious focus on the info you ALREADY have available to you...and the creativity to look at it in a completely different viewpoint to see what it can tell you.  Look around-- you have the information assets around you right now...they just need to be turned into knowledge!  That is the key...having knowledge.  Knowledge is actionable information.  Data is in a binder, knowledge is in action!

You will be amazed what you already have available to you...and what secrets are sitting on the surface just waiting to be seen!

Need help?  Call us...we would be glad to pitch in and bring our ROI Guarantee along for the ride!

Cheers!

Bruce Clapp

10 and counting...

Greetings and HAPPY MONDAY!

The calendar is making noise this morning...it has started the count down to 2011.  Just like in school, we are in the next "grading period" and have a new chance to make our mark and decide to be great!  We have 10 weeks left in the year...

So, I thought I would share my TOP 10 To-Do's for the remaining 10 weeks...

10.   Finish your 2011 plan...with a unique addition of your Jump Start plan for the 1st 90 days of 2011
9.     Share you budget wrapped in an ROI evaluation for the entire year
8.     Make social media an important component of your 2011 plans...in ways that fit your organization
7.     Consider branch level marketing plans...that include a "budget" for local initiatives...that puts the planning and decision in the hands of the local manager and relieves you on saying no...they budget it!
6.     Make sure your sales support mirrors your marketing planning
5.     Strategically analyze one product line for the coming year
4.     Create one new internal communication process...there can never be too much communication!
3.     Create one new "thank you" process for staff
2.     Determine the best marketing investment you made this year...and consider doubling it next year!
1.     Get your shopping done early!!

Here's to a great 2011...

"Whether you think you can or you cannot...you are right!"

Cheers!

Bruce

Lessons From Weekend Football...

Good morning...

We all know how the game went on Saturday and Sunday...depending on who you follow-- College or Pro.  My Buckeyes romped and the Bengals limped, but still won!

The greatest part about this time of year?  Mondays!  We ALL get to be the best coach and GM around...by analyzing what did or did not happen in the game.

Take the same logic and become a Monday Morning QB for your team...follow these simple steps:

• Calculate ROI for EVERY measurable marketing activity
• Review your strategic plan for gaps, changes, and Plan B's
• Review the week's results, by branch and product, to determine what worked and what did not
• Talk to the team...and hear 1st hand the feedback from the front-line-- and then incorporate what you learn into the planning for next week
• Review the other "teams" and so how they progressed...or failed...and bring that learning into your planning for next week, too!

Being the Monday Morning QB is the safe place to be...but ONLY is you implement the changes and take the learning from the week/weekend and bring them to life in your planning for next week/weekend.

Cheers!

Bruce Clapp

Question? Answer!!

Greetings and Happy Monday!!

Today is about asking questions and seeking the answers!

Most of you are in the Q&A portion of your year...

• What worked? 
• What didn't? 
• What budget do I have remaining?
• What is changing about our market?
• What new initiatives are coming down the path?

All great questions...and many answered by information that is within your grasp and some outside of your grasp.

The key?

Knowing what you DON'T know and what portion of that you NEED to find an answer.  You can spend all of your time finding answers to each and every question...but analysis paralysis will undoubtedly set in!

You need to know the GO-TO information factors that will drive you plan, your budget and your success!

What are they??  Great question!  The answer...it varies for each of you!!

Call us to find out... for your bank/CU!

We can provide the answer...and more importantly save you the time and effort!
Come on...give us a call! We can help...

Ready. Fire. Aim.

It's that time of year again....early August, the dwindling of the summer and the near onset of school for your kids.  It's also probably the post-mid year review and you are either behind pace or you now realize that the 2nd half of the year is a month plus over!

Unfortunately, we still see many organizations with a "Ready. Fire. Aim" philosophy.  The forget that all important planning step...in the hurried frenzy of getting things launched.

Now is certainly the time to launch new initiatives and promote your business.  P&G, the world's largest consumer goods company recently invested an UNPRECEDENTED level of marketing into their organization and customer.  P&G has always been strong investors in marketing, but the most recent quarter and month end was a sign of good things for all marketers.

BATAVIA, Ohio (AdAge.com) -- Procter & Gamble Co. boosted ad spending by $1 billion in the just-closed fiscal year, about $750 million of that in the fourth quarter alone, which helped the consumer-goods behemoth return to share and sales growth.

It was their largest investment in marketing EVER... that should light the fire in your organization, too.  The fact that the world's largest consumer goods company sees light at the end of the tunnel and has made the realization that NOW is the time to invest in marketing.  And you can see from their press release...it positively impacted their share and sales growth!!

However, we need to also realize that they did their homework (the AIM part of the equation) before they invested their marketing dollars.  That is where the planning comes into play.  With an articulated, targeted, and supportable marketing plan (for a product, new branch, or business line) the investment can be supported and will also have a much higher ROI!

So, three key take-aways for you and your organization:

1. Now is the time to invest in marketing
2. Be planned and focused, but be swift and purposeful in your planning
3. Measure your ROI and promote the results

These three steps will lead to a very productive 2nd half of 2010 and help lead your organization forward!

Cheers!

Bruce Clapp

The tide will turn...

Good morning and HAPPY MONDAY to everyone....

Thank God its Monday!

Today really is a good day.  Sunny, not windy and will be getting warmer...plus my daughter is getting back to a good plateau in her health!

Now, for the update...later this week, we will be launching an exciting new service for bankers around the country and the timing is based upon my belief that the tide has begun to turn and there are plenty of bankers that are looking to charter a new course and the investment community is seeing the opportunity, too.

De novo banks typically open in areas where a void has been left or created.  Closed banks, merged banks, growing markets...all ripe for a de novo bank.  With many execs displaced in mergers, the executive operational talent and drive to start a bank is richly available. 

Here is a chart of de novo bank start-ups in the last couple of years.  You can see they have fallen, but the rise is about to occur.  MarketMatch will be there to help with our expertise and focused assistance!

As you can see, there are parts of the country that flourish with de novo bank openings... keep your eyes open for our announcement later this week.

Have a GREAT MONDAY!

Bruce

It's Here!! Monday!

Greetings and HAPPY MONDAY!

Today is a great day...spring has sprung, the weather has turned and I have actually mowed my grass 2x already!  The best times in grass mowing?  The 1st time of the season...and the last time of the season!  However, each time in between adds to the look of your home and displays your attitude toward your neighbors.

To that end, I share my blog for today...

Action is required by everyone.

Monday's are all about action.  You had the weekend to rest and relax (or have a crazy schedule with baseball, soccer, dinner's cookouts, etc...but still relaxing stuff!) and think about the coming week.  So, today's action has to be to put your thoughts INTO action!

Just like mowing your grass is a reflection on you and your neighborhood, so is your Monday actions! Your actions reflect on your attitude and desire to be successful as well as your attitude toward your co-workers, your company and your customers.

Come out firing away and getting things done...it sets the tone for a GREAT week and let's everyone know that you are ONBOARD with success--- your's and theirs!

So...put your weekend thoughts and considerations on the front burner and get them INTO action.  You will find success comes, the week speeds along, and people gravitate to you.

Afterall, success (like honey) attracts good things!

Have a great MONDAY and even better week...

Cheers!

Bruce

TGIF...Getting ready for TGIM

Greetings and Happy Friday!

Today is a great day...and three specific reasons:

1. It's Friday...
2. Client work is rolling great
3. Monday is only 2 days away!

I know....sounds crazy right?  Well, when you have the benefit of working with great clients, both bank's and CUs, you have the best of the best in all facets of the work we can produce.

So...I have two items to share with everyone today...

(1)  Make today count!
(2)  Make those around you feel counted!

Simple words...but VERY impactful!  I just completed a proposal for a large potential client that deals with realigning their internal communications and the entire process reminded me how important those two simple steps can be to supercharge an organization.

Making Today Count!
We only have 365 days in a year...so we HAVE to make each on count!  How?  Put your best efforts forward, do things that are relevant, and MEASURE what you do.

Making Those Around You Feel Counted
This is all about empowerment.  We have all worked with people that have a "job" versus a "career"  Being the marketer, it is your mission to make sure everyone takes their job and their impact and sees it as a"career" while they are at your institution.  Share info, thank people for their efforts, communicate needs, ask for help...all small actions that make those around you feel counted!

Have a great Friday...and see you for a supercharged Monday!!

Cheers!

Bruce

Using Social Media...

OK...this past Friday, we delivered a Brown Bag Lunch Series session on social media.  HUGE audience and lots of insightful questions.  The good news is that from a session we did in May of 2009 until this session, the industry...and many of the attendees...have picked up steam on their way to integrating social media into their marketing strategies.

Thanks to Jason Kincy (Arvest Bank) for his Guest Commentary and sharing of his expertise, experience and words of wisdom...very well done!

Three key insights for ALL bankers and CU marketers:

• Find the social media that is appropriate to YOUR institution
• Use social media yourself...the best place to start is small and learn as you go
• Compliance is an evolving practice, as it applies to Social Media...document everything!

Here is a humorous reminder of the largest caveat to social media.  If you use it, be prepared for its broad access and sharing.  It will live forever in electronic media so be sure what you share it what you want to share (and have potentially millions of people read it).  Don't be scared, but be prudent!

CHEERS!

Bruce

Monday, Monday...

Good morning financial marketers...

In the spirit of Robin Williams in "Good Morning Vietnam", I share a hearty greeting!

IT'S MONDAY...

I have been reading Roxanne Emmerich's book entitled, "Thank God its Monday!"  A really good read!  The premise is building a team and environment that is the most conducive to success as possible.

So, I ask you to look around your office and institution...1st at yourself.  Are you excited to come to work on Monday?  Full of energy and ideas?  YOU have to be the emotional leader...

If you are coming in excited and ready to go...your team will, too!

I know we have all heard of "walk the walk and talk the talk", it is true!  People watch and make notes of the exec's leadership style and actions. Everything matters!  If we don't follow-thru, soon our staff will take that same cue and slow their efforts, too.  We ALL need to working toward the same goal and we have to be the lead.

Look for more ideas and thoughts about focusing your team and creating and environment that welcomes Mondays!

Cheers!

Bruce

Friday...is it YOUR day?

Greetings!

Today is Friday... I have several sayings that I ALWAYS use on Friday--

• Happy Friday! and, 
• Hey its Friday, it cannot be all bad!

I share these because today is a special Friday...the last one of the month, and it signals also the start to the last month of the 1st quarter.

So...are you where you thought you would be with:

• New deposits? 
• New loans?  
• New customers/members?  
• Retention?
• Overall profitability?

If not...TODAY should be the start to a revisit to your strategic marketing plan and tactics.  Ask yourself:  What is working and why?  What is not working and why?  Who can we better engage to ensure increased success?  What can we do better/faster/stronger tomorrow?

These answers will help you chart a different course starting BEFORE the end of the 1st quarter.  I am sure you have heard of the term "running rate."  When I was at Bank One, that was one of the most important concepts that we tracked.  It has everything to do with where you are today in relation to where you want to be, where you expected to be and what the environment is allowing you to be.  Said succinctly, it means...are you ahead of the 8-ball?

Your running rate should be ramping up....yes, the economy is still shallow.  Yes, the industry has had some regulatory changes recently enacted.  Yes, competition is as hot as ever.  HOWEVER, there are story after story of banks and CUs bucking the trend and making the decision to NOT participate in the recession or downturn. They are simply willing their way through... National Bank and Trust, a community bank in Ohio (and in full disclosure a client) saw their lending increase 40% last year...yes, I said INCREASE.

You CAN make it happen...with the will, energy and perhaps assistance of others.  The 1st step...deciding that you CAN do it!!

Here's to a GREAT Friday...and a Friday that you will look back to and say, that is the day I changed!!

Cheers!

Bruce Clapp

2010....it's here! Ready to Rock??

OK....the thinking, planning, rescheduling, organizing, etc....all comes to a head today!  2010 is officially here for the business world...

Ready to rock?

We are!!!

Here's to a GREAT coming year, complete with success (both expected and the best kind...unexpected!)

Cheers!

Bruce Clapp

View from the top changes

Good morning everyone...

I have successfully returned from a fantastic trip to Kuala Lumpur, Malaysia!  I keynoted a forum on product development, management and innovation for a contingent of Asian bankers.  Great interaction and learning occurred along with the networking of bankers from across the Asian region.  I thoroughly enjoyed the forum and the experience.

When I was in Kuala Lumpur, I had to go to the Petronas Twin Towers...formerly the world's tallest buildings (now 3rd tallest) to take in the sights and the views.  Amazing!

I had two items imprinted on me during the trip.  The first simply reinforced that banking is widely similar across the world.  We all struggle with competition, managing rates is critical, and customer insight is mission critical to marketing success!

The 2nd has to do with the Petronas Towers and what they represent to me.  They represent mankind's focused efforts to be leaders and that the view DOES change from the top.  Translation?  When you focus on an outcome, get everyone on board, and have the insights necessary....you can overcome any obstacle, create great new innovations along the way, and have an amazing view from the top!

The translation to you this morning....sitting at your desk drinking some coffee...is quite simply....take on the tasks that seems daunting, but engage your entire organization for assistance and include your customer along the way.  They will paint the picture of success for you!

So, with December quickly fading and January 2010 quickly approaching, the time to think about new initiatives is now.  Think BIG, act BIG, and include your customers in a BIG way!

Cheers!

Bruce Clapp

Why your bank's strategic marketing plan can't wait!

It's that time of year when everything begins to compete for our time...the Holidays are here, family activities are in full gear; and wrapping up this year's marketing activities, planning the budget for next year, keeping an eye on new legislation, and many more items are also priorities. What I have found in working with numerous banks over the years, is that it is all too easy to let the marketing plan for next year be put off until January. Does this sound familiar?



I know it takes alot of time to research the market data, competitor data, review internal reports on balance sheet, profitability, study MCIF reports to find those golden opportunities, meet with division heads to find out their priorities and goals and marketing support they require, and then create a targeted plan for the investment of your marketing budget. I feel your pain!



Yet danger lurks in letting this important component of your job go until January. Namely, that you lose the first quarter. If you write the plan in January, get it approved in early February and start implementing in late February, you can't really get started until late March or early April.



A good marketing plan should be designed so that you are more than halfway to all of your goals by June and many would agree that most of your budget should be spent by the end of September. For any sales results to have an impact to the bottom line during 2010, this is the optimal schedule. If you don't get started until March or April, you won't achieve what you could have with your marketing budget in 2010, and as a direct result, you lessen your probability of getting the same or an increased budget for 2011.



A great marketing plan is the basis for a great year! If you are strapped for time and would appreciate some outside support for this critical component of your job, contact us at MarketMatch. We have years of experience at it. Check out our new "Expert2Go" services here: www.marketmatch.com/services/expert2go.



It won't cost you much, but it could get you way ahead of the game!

Here's to this busy time of year,

Sharon

Thinking...

OK...I am in Minneapolis for a big meeting tomorrow and I am thinking.  Lots of times that is dangerous....give me too much time and I am thinking up new presentations, articles, projects....all really cool stuff!

So tonight I am thinking about 2010.  What will we do that leads us ahead?  What new projects will we undertake?  What exciting new clients will we have the benefit to work with?  What will we reflect back on next December that makes us smile?

The good news is that the answers to each of these are ahead of us...and we can make each of them happen and shape them as we like...with a little forethought and planning.

So that is my post tonight...spend time thinking about the possibilities and the potential and then put a plan in place to make them happen.  Think big!!

I have a favorite saying that I will share with you...."Expect the stars and accept the moon."  The morale of the saying-- think bigger and accept big.  You CAN make it happen!

Here's to charting your 2010...and having success and fun along the way!

Cheers!

Bruce