For over two years, I was the Interim CMO for a $450 million credit union while the CEO was looking for the right fit for the position. It gave me a new perspective on C-level executives in Credit Union Land trying to move their organizations forward in a sputtering economy. Here are just a few insights:
- Maintain focus on the ways marketing supports the Key Performance Indicators (KPIs). Monitoring the achievement of annual goals enables you to make shifts in the annual marketing plan.
- Understand how marketing supports products/services that provide Non-Interest Income. Fee income and third party relationships give you opportunities to provide members with a better line-up of ways to help them financially in their lives. Whether it’s insurance or looking into new ideas like digital storage or emergency car insurance, looking outside the loans/deposits box gives new energy to your brand.
- Protect the brand and the member experience. This is the responsibility of the marketing executive especially when pressures by other divisions to do things to help their goals or initiatives. If the C-staff agrees with the marketing direction, then they have to fulfill the marketing promise when the member walks in, calls or clicks on your website in a manner that builds value. End of story.
When you are interested in determining if you are maximizing your marketing, consider having LemmonTree conduct a Strategic Marketing Audit to help pinpoint ways to take it to the next level. Call at 480.967.1405 or email us at 7solutions@LemmonTree.com!