When did “sales” become a dirty word?

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Frank Koechlein Frank Koechlein is the President at Empower Your Analytics and coauthor of the marketing resource book “The New Marketing Analytics”. Frank has over 40 years of marketing experience in the … Web: empoweryouranalytics.com Details A few days ago while watching TV; I had the opportunity to see the new Wells Fargo commercial.  My guess is this ad is an attempt to help repair the damage to the Wells Fargo brand resulting from their recent retail banking scandal.  The ad in addition to showing a lot of happy and engaged customers stated; “we have eliminated sales goals in order to better focus on customer satisfaction.”   This struck me as an odd statement; what has happened to our service culture that offering additional products and services is at odds with member satisfaction? The statement speaks volumes about the way many credit unions (and community banks) see themselves.   Both institutions have a long history of being service organizations. Credit unions remain one of the few types of financial institutions that truly function for the benefit of their membership.  For example, the mortgage for my son’s first home was from his credit union at work. Not only did they help him through every step of the process, he was able to get a discount on closing costs and get one of the lowest 30 year fixed mortgage rates in the Atlanta market.  Now that is service. Many in credit union leadership positions look upon organized marketing/selling programs as going counter to the core of the credit union mission. In my opinion this belief comes from the “old school” definition of selling.  This high pressure form of selling is not focused on member needs but on the credit union’s needs. An example, if the credit union needs to sell home equity loans, all of its members are prospects. This type of selling many times can have a negative impact on how members feel about your institution.  As a member, if you’re asked about a home equity line of credit and you are not a homeowner, it doesn’t feel very personal. This shotgun approach is what worries many in leadership. With credit unions historically functioning as a service organization, the focus for member facing associates has primarily been transaction based.   Members define their needs and come into the credit union for help in solving their financial challenges. In this scenario activities aimed at learning more about your members (asking them questions) is considered intrusive. Generally speaking, credit unions need to make the transition from being service organizations to selling additional products (serving members) based on member needs. 61% of responders in a recent Affinity FCU/Harris Poll “believe credit unions care more about their members than banks do.” With this type of member trust in their institution, doesn’t it make sense that a needs based selling approach would prove effective?Gaining a greater understanding of your members can be difficult in today’s digital world. Younger members prefer to interact with their credit union using remote access including; online, mobile, phone, SMS, making it difficult to discuss someone’s financial challenges face to face.  Gaining a greater understanding of members’ financial needs and using it for marketing purposes, should happen on their terms and with complete transparency. One challenge with starting a needs based selling program is that your organization needs the tools to learn more about your members.  This knowledge drives cross-selling programs that sell product and reinforce the positive qualities of your brand. The lack of adequate tools to gather member data seems to be a source of frustration for many in credit union leadership.  The research below was conducted by the Filene Research Institute (RFI) and it compares the importance of 5 critical member marketing/sales activities versus the ability of their credit union to accomplish the task in a satisfactory manner.These numbers are striking and they illustrate the depth of the challenge credit unions face as they evolve from pure service organizations to a member needs driven service paradigm.  One caution, needs based selling clearly needs to be consistent with the credit union’s brand values. If you look at the 5 activities listed in the RFI research; the gap for all 5 can be closed with a greater understanding of the financial needs and service preference of members.  If that’s the case why isn’t credit union leadership more receptive to using member data to close the gap? From industry research it is clear that smaller credit unions are resistant to data-driven marketing to their member base.  Research conducted by the Financial Brand last year found that less than 9% of all credit unions/community banks under $1 billion in assets are using data to drive member CRM and retention activities.  The same research showed that more than 50% of their larger competitors are using member data to drive improved CRM, retention and new member acquisition activities. The time has come for the credit union community to embrace new data management technologies to better serve their members.  A common misconception is that using member data analytics will change way the organization will serve their members. In short, they will lose the personal experience and treat members as numbers, not people.   In my experience, this will not happen if you work closely with your analytics vendor to make sure they understand your goal is to use member data as an extension of your brand. The final solution involves not just the analytics but the way you creatively present product and other communications to your members.  Personalized offers that are appropriate for each member’s circumstances, presented in a way that supports your brand, in the preferred service/media channel can only serve to increase member loyalty.last_img read more

Thanksgiving

first_imgAhhhhh, Thanksgiving!  A sport-loving man’s favorite day!  What could be better–a hardy meal with 5 or 6 football games to watch after you stuff yourself with turkey and all the trimmings?  This is great, right?  Oh, you are the lady of the house, and you don’t see it quite the same as your husband!  Just maybe he could take the kids outside and run some energy off of them while you clean up after the meal.  Or better yet, he and the kids could help mom clean up so that all can sit down and relax or go out and have some fun.  If you are the mom, you might even say “how about dad and the kids cleaning up this one time?”  Oh, come on, we all know that on Thanksgiving everybody likes the turkey and all of its trimmings, and I suppose, most people don’t begrudge watching a game or maybe two.  I do find it hard, however, even as much as I like sports, to believe that the TV is the man’s possession and the kitchen is his wife’s.  Come on, guys, give your wife a break.  Happy Thanksgiving!last_img read more

Jonathan Hagman steps up as leading scorer in junior year

first_img Published on October 4, 2017 at 9:22 pm Contact Charlie: [email protected] | @charliedisturco Entering the season, Syracuse needed to replace 64 percent of its offensive production after losing three of its top four scorers. Kenny Lassiter, a forward expected to expand his role, transferred to La Salle.The Orange looked toward midfielder Jonathan Hagman. In a season filled with slow offensive starts and just one clean sheet defensively, Hagman has been a bright spot for a Syracuse (5-5-2, 0-3-1 Atlantic Coast) team that looks to win its first ACC game on Friday night against North Carolina State. The junior has already tied his goal total from a season ago with five, and in eight fewer games. Hagman’s often found offensive success with his ability to find open space in the penalty area and finish near the net.“We always know he’s going to be at the right place at the right moment,” midfielder Hugo Delhommelle said. “… He’s not a creative player and people won’t talk about him a lot. He does a lot of work behind the scene.”Unlike most players, Hagman’s goals have not come shooting off the dribble. He “outsmarts” opposing defenders, junior defender Kamal Miller said, finding open space and wriggling away from defenders with his off-ball. That intelligence off-ball is the main reason for his increase in productivity, Miller added.Down a goal against Virginia, Delhommelle took possession and pushed upfield. He passed to Johannes Pieles, who after a few touches fired a through ball that split two UVA defenders and found Hagman in stride inside the penalty area. With a defender draped over his back, Hagman one-touched and fired past the goalkeeper. Hagman’s 83rd-minute goal gave SU a tie, its only point in conference play to date.AdvertisementThis is placeholder textJosh Shub-Seltzer | Staff PhotographerHagman’s knack for finding open space provides his teammates with extra time to settle the ball and look toward the penalty area. When players try to cross the ball in front of the net, normally a forward is the lone player in the box, sophomore defender John Austin-Ricks said. But the team can count on Hagman to push upfield, find a spot and be on the receiving end on those crosses. All five of Hagman’s goals have been assisted.“You know (Hagman’s) going to be around no matter what,” junior forward Adnan Bakalovic said. “It’s just his ability to read the game and get into those areas to get easy tap ins.“His awareness of the game is world class.”Hagman’s goals often come in big-time moments for Syracuse. In the team’s season opener, he tied the game in the 80th minute before a Tajon Buchanan game winner. He added the second and third goals against Northwestern in what became a 3-1 win. He’s the only player with more than three goals and is tied for the team lead with 10 points.“From a productivity perspective,” SU head coach Ian McIntyre said, “he’s scored some important goals for us. … It becomes a natural habit of finding your way into the box at the right time.”In Hagman’s freshman season, he went scoreless in 11 games. The following year he scored four games in, but after back-to-back goals midway through the year, he was held scoreless in 11 of Syracuse’s last 12. This year, his longest goal-scoring drought has been three games.Syracuse’s offensive productivity is 0.15 goals per game less than the year prior. That’s without three of the top goal scorers from last season. A large factor in SU maintaining a similar mark comes from Hagman’s offensive prowess and ability to find the ball in front of the goal.“If you’re not fast,” Hagman said, “you have to figure out something else to do well on the pitch.” Comments Facebook Twitter Google+last_img read more