If you could deliver a single message to the credit union executives reading this story, what would it be?

Yes, I’m asking YOU. The marketer reading this article.

How about this? Just to be careful and think through the importance of keeping the credit union’s story out there – who you are, what your brand is all about, and the kind of relationships you continually strive to build internally, with members, and the communities we have involved ourselves in.

So now you’ve heard mine…what would your message be? For some it might be this one. “Marketing isn’t an expense…it’s as necessary as keeping the lights on…and when done the right way…that’s exactly what it will help you do.” Or, “Marketing is an important part of our management team…make me accountable, make me work for it and I’ll show you some results. My point is that if you want to be noticed – you are the only one that can make it happen.

This is really our time…credit union’s I mean. And there are a lot of great things happening out there that continue to make this industry strong, with an elevated sense of who we are and what we do. The biggest shift we’ve seen over the last couple of years – is credit unions acknowledging that their staff is one of the most important pieces of the service puzzle – and now giving them the tools and the empowerment to truly help the member. We’ve seen a shift from a “sales”–building culture to a “brand”–building relationship culture. Credit unions have gotten it. They’re listening more to what people need and helping them get where they need to go in life, not just as so many outdated mission statements proclaim – that we’re helping them reach their “financial” goals. Why only financial goals, right?

So get out there and shake it up! Think about your goals. Yes, “your” goals, Write them down. But don’t stick them in your desk drawer. Stick them in your pocket, your purse or your wallet. Carry them with you and aspire to take a step towards reaching them every day. What might be one of those goals? How about delivering your own single message to the credit union executive down the hall? He’s waiting…

Jargon Gymnastics

Why would anyone be confused as to what a credit union actually is – or what it does – when comparing it to a bank? I mean, it’s perfectly clear, right? Or maybe not so much.

How do we learn to differentiate ourselves without confusing the average, younger consumer who isn’t clear on what a credit union really is? Certainly being more public and clear with our basic message makes sense – telling people who we are and aren’t. Explaining to them that we aren’t part of that telephone company, university, or technology giant doesn’t alway work. Oh yes, you can join us. Using language like “we’re a community chartered not-for-profit cooperative financial institution” is a bit complicated. You know, like a bank, but not really like a bank. Wow. Do we ever stop and listen to ourselves? Is more marketing really the answer? Or is a more defined strategy and approach to who we want to be before we continue our marketing the real answer?

You may have noticed that sometimes when a credit union changes its logo or name, the words “credit union” seem to have all but disappeared off their signage. Has “credit union” been replaced with “financial” because everyone knows what “financial” means? Are the words “credit union” disappearing altogether? Is the removal of “federal” or “credit union” helping to solve the confusion or making it worse?

And how can we ever think about doing a national brand campaign when we can’t figure out what to call ourselves and the message we should all be using to increase awareness and profitability? Don’t even get me started on that one.

If you’re looking for the right answers to all these questions here – you might as well stop reading at the end of this sentence. If you’re still reading, great! I’d never pretend to know all the answers to your unique situation. But I can certainly ask you the right questions based on your situation that will help you define the challenges in your market, who you want to be to your members, to potential members, and the communities of which you are a vital part. In other words, don’t follow other strategies, build your own. As someone who wants to keep this movement (or industry) part of the solution to today’s economic problems, you owe it to yourself to try to discover as many answers to these questions as possible before continuing down the path you’re on. And if you’ve figured out the answers – share them, will ya?!

The Brand Marathon

Several years ago after much consideration, I committed to run my first and last marathon. The overall thought of running a marathon is initially exciting, yet soon becomes overwhelming for everything you need to do to prepare. To succeed in running 26 miles, I trained by breaking up my runs into small chunks to make my marathon run more manageable.

Much like training for a marathon I’ve learned to break up long-range strategic business projects into manageable milestones. Breaking up a long-range project into smaller pieces helps keep the motivation and excitement for a huge end goal. When training for my marathon I also went swimming, boxing and to the gym to help me with a variety so I would not get burnt out on just running a few more miles each weekend. We do the same with many of our projects, but especially our branding process here at Weber. Many financial institutions think of branding as one project but really it is a journey where we need to keep staff motivated in expressing the companies brand while we also tackle the redesign of branches, websites, logo and even products. We tackle this by breaking the branding journey up into phases and reengaging with staff and customers to help bring back energy to the brand when that energy starts to die down.

I mentioned at the beginning of my post it was my first and last marathon and although it was my last, I do continue to run home religiously twice a week. I run because I enjoy running, I don’t think I would enjoy running if I did one marathon a month, as I know some people can do. I want to keep running for fun and I have, by mixing in other activites along with watching myself race faster home and talking with other runners who have helped me get past the hurdles of running. The key to motivation is keeping variety and fun within smaller steps and a longer view towards the end — my health and enjoyment. Getting burned is easy, training for a daunting 26 mile run but you have to remember its never a sprint to the finish, it’s a journey.

Are we helping people solve their problems?

“Nobody cares about your products… people care about their problems. People do not want a relationship with your credit union, they want the benefits a relationship can offer them.”

Not my words, and I wish I could remember whose they were, but I believe they accurately sum up the divide between what credit union members want – and what our existing members and consumers in general need & expect. As long as we insist on telling them things they don’t care about, you can bet that any measure of success will be difficult to achieve. My opinion…we need to tell them more stories. And by that, I mean true member stories about how we’ve helped someone with their life, or the life of their family. Wow…what a concept. Telling someone a story about people helping people – not about products helping people.

Let’s face it – unless you have a member who is a true advocate of your credit union, or credit unions in general – there is little difference between financial institutions in the eyes of the consumer. Credit unions and banks both provide retail banking services, right? We both tell everyone we’re caring, responsive and personal, right? We do love “differentiating” ourselves by talking aboutour differences as they relate to membership, being a cooperative and ownership. But is this message resonating with the average person? Clearly…success in terms of market share has eluded us.

I know…it’s not quantity of members…it’s quality of members. And if that translates into larger wallet share and profitability for the credit union so we can keep serving those quality members needs, I’m all for it! My question then would be, “Can we survive on those members?”

And then there’s the millennial market that will someday save our credit unions with their wealth, knowledge and technology. Do we honestly believe that banking is anywhere near the top of the priority list when you’re 17,19, 21? I would challenge you to think back to when you were that age. What were yourpriorities? Did they have anything to do with joining a member-owned financial cooperative? I’m not saying ignore them. What I would challenge you to do is to think of them as part of a broader picture…to talk to them and find out what they hold near and dear to their heart (besides their iPhone). I’m talking values, ethical standards, vision for the future – and see how any part of your brand aligns. If it doesn’t, believe me you’re going to have a hard time attracting their attention and little chance of keeping it long enough to tell them or show them why your credit union is any better than the community bank down the street.

So back to my original question. Are we helping people solve their problems – or are we so busy solving our own that we’ve lost focus?

Setting the Credit Union Brand Apart

What’s in a name? And why would I talk about the name when this article’s headline is about brand? Any strategic marketing agency who actually does this for a living will tell you that a credit union, despite the name (full of history and heritage, or new and often with a subtle link that pays homage to its legacy), is as much, if not more, about…yes…wait for it…the credit union’s “brand” than it’s name.

The name is significant for sure. But if you are telling me that members only go to credit unions because of the name on the building, and not because of the people inside – the great staff they have built relationships with, who have helped them in times of need (because that’s what credit unions do, right?), listened to their stories, and helped guide them sometimes more than just financially – well, you need to be in a different line of work.

And then there are those credit unions who have built their brands around their work in the community – with an aspirational brand promise like “Life Matters” or “United We Thrive” that becomes a rallying cry for staff, giving them an energy, renewing their passion for where they work and who they serve. Culture. Yes, your culture. If you are looking for something to set you apart, it’s a great place to not only start, but also continue to build and expand upon as you grow. And it’s more than simply handing them a cute employee handbook or pamphlet when you refresh or create an entirely new brand. It’s about getting your staff involved, asking them questions and making them part of the solution.

The other part of the solution to setting your credit union brand apart, in many instances, can certainly be your name. I’m not saying it needs to be changed. But for some it’s a healthy exercise to be evaluated at levels none of us can comprehend from the outside – even seasoned marketers who see a new name and wonder, “Red Canoe Credit Union? Wow. Really?” The challenges credit unions face are daunting. The pressures to gain new, younger members, stabilize and grow capital, increase loans, develop new technologies to foster member wallet share and profitability are at an all time high. Kudos to this industry for meeting those challenges head on, and not burying our heads in the sand, thinking it will all go away and everything will return to normal. Guess what? There is no longer the word “normal” when it comes to who we are and what we do in credit unions.

We need to step up and deal with keeping this industry intact. Names, brands, culture shifts, branch planning and new branch prototype designs that align with target segments, product development and innovation – some credit unions are leading this charge, but not nearly enough of them. And each of these puzzle pieces have a part of your brand built into them that will affect a measurement of success.

So, marketing gurus out there…what if? What if we put our energy into talking about what a great cooperative movement we are all working in, gathering and telling stories about the peoples lives we’ve transformed, the fabulous employee cultures we’ve built to help our members and communities thrive, and continue to focus on growing profitably so we can be around to accomplish more for our members? Does your name help you get there as part of your brand?

Culture isn’t invented. It’s born.

We’re amused by all of the activity going on surrounding JC Penney (JCP) and its move to an everyday low price offering strategy (EDLP). Their relatively new CEO, Ron Johnson (hired a year ago away from Apple Retail) has been at the helm of some sweeping changes, all designed to get mom back in the store on a regular basis. Media consensus is that the JCP board thought that if Johnson could perform his magic at Apple, then he could do the same for the ailing department store dinosaur.

Not so fast, Dino.

To be sure, Johnson came out of the gate firing on all cylinders. He immediately announced the EDLP philosophy called “Fair & Square”, re-designed the logo, fired the Saatchi & Saatchi advertising agency (a five-year incumbent) and announced a new reliance on “store-within-a-store” features anchored by brands. Later, he went on to lay off more than 10% of the corporate work force, gut the executive team and trim middle management (mostly store operations) by thousands. Oh, and he abolished commissions for all sales people.

Now, many fans of Johnson would say that he’s an agent of change, that he’s been brought in to make tough decisions, trim operating costs and right the sinking ship. And that all of these moves are the unfortunate fallout from beginning a new day.

Fair enough.

We’re not turnaround specialists at Weber Marketing Group. It’s a task we wouldn’t envy in a Plano minute. But we do know a little bit about branding and branding’s incubation in the culture of the organization. Johnson’s mistake was that he thought he could transfer the tenets of the Apple brand into the behemoth and ancient JCP with just some new “branding stuff”. It doesn’t quite work that way.

Since 1902 JCP has been enticing customers in by using sale events. For over 100 years, JCP has trained customers not to come in unless they are having a sale. It’s the promotional drug at its extreme and everyone has been mainlining for decades. You don’t change that behavior overnight be reinventing yourself to having “month-long savings”… or EDLP. The addicts went elsewhere.

Recently, JCP went back to having sales. But it’s too late. Analysts are saying that the constant rebranding of JCP is driving away its core customer. The stock has plummeted. The stores are deserted.

Why didn’t it work?

You don’t invent a culture of EDLP. You have to be born that way. Wal-Mart has had great success as an EDLP retailer because it has been part of their DNA since day one. Once you hook the consumer on the fact that you drive your business via sales and you train them not to buy from you unless it is on sale, you can’t suddenly announce that you were just kidding and that your non-sale prices are the best deal any day.

Re-branding never works when you invent it. It only works when it comes from the cultural sole.  James Cash Penney would be aghast at what is happening to his namesake retailing chain. It’s adrift and going down fast. Next up… the going out of business sale.

Here’s your 13-point marketing checklist for 2013

Predictions abound for the new year and I don’t want my message to get intertwined with all the marketing prognosticators pumping out predictions. So, I want you to know that what I’m about to share with you isn’t guesswork. It’s thirteen viable and relevant steps you can take right now for building a holistic, results-driven and integrated approach for growth across your entire organization. Not all these steps apply to your situation, but there’s a good chance that a number of them do. Here we go:

1. Unchain your name – is the name of your organization constrained by past associations, sponsors, affiliations or geographic boundaries? If so, no volume of marketing and advertising will overcome consumer perception that “this isn’t a place for me”. Adopt a new inclusive name now. See how Lockheed FCU went about it.

2. Differentiate your brand – it’s a noisy and crowded financial services marketplace. If your brand isn’t well defined and clearly different than your competitors, you’re not going to stand apart from the fray and get noticed. As marketer Jack Trout famously said… “differentiate or die”. View many great executional examples of differentiation amongst the 2012 Golden Mirror winners from 2012.

3. Evangelize your associates – from front-line associates to the entire c-suite, everyone in the organization should bleed the brand and embrace the culture, values and promise behind it. People make the difference if they’re fully onboard. Don’t believe me? Pick up a copy of a Zappos.com culture book. You’ll be blown away.

4. Create advocates – after you’re squared away internally, you’re ready to focus on end-users. Increasing the proportion of advocates for your brand will drive acquisition, elevate retention and turn your referrals into solid gold. Advocates have higher balances, higher NPS and utilize more products and services. Advocacy rules and makes marketers drool.  Read how to convert detractors into brand advocates in this Financial Brand feature story, Angry Customers are Gifts.

5. Practice storytelling – storytelling is at the very heart of how we humans share and connect with what we value about our heritage, our families, our communities and ourselves. Brand storytelling is about connecting a deeper emotional level that a brand should evoke, with the inner feelings of the recipient. There must be a deep affinity between the two or the relationship is just a forgettable transaction or a low price commodity. Check out Solarity Credit Union’s name launch video below.

6. Refine your message – edit, condense and simplify your communication to conform to the sound bite world we live in. Treat all of your primary messages as if they were going up on a billboard… concise and clear… up to 5 or 6 words. It’s hard, but you can do it. And the rest of all that copy? Try a Twitter-style constraint of 140 characters. It will drive higher recall.

7. Elevate your creative – if the suit makes the person, then your creative makes your image.  You’ve got to step it up. Style, tone, imagery… it really matters in image building. Sure, you can shoot your new television spots on the intern’s video camera, but when they play next to the professionally produced spots in the same break, how are they going to portray your organization? Head over to YouTube to see how Elevations Credit Union has ratcheted up their television and video creative.

8. Define your target audience(s) – why keep saying “everyone in the community”? You can’t make an efficient media buy for “everyone”. You can’t craft an effective and relevant brand message for “everyone”.  Segmentation leads to targeting which leads to relevant offers, effectiveness, efficiency and ROI. Benefits go well beyond media; targeting focuses your entire organization, your brand and your unique competitive advantages.

9. Utilize a strategic media mix – research reinforces this idea and reminds us that a well-targeted mix favorably impacts recall as well.  Multiple studies have found that advertising on multiple platforms substantially increases consumers’ ability to remember an ad campaign compared to when the ad is viewed in one medium alone. The consumer shift to online and social media alone requires that you adapt and add a balanced approach.

10. Get socially engaged – having the right conversations with the right people is the right idea, but it’s much more than social media alone. Social media is just another tool in a marketer’s toolbox, albeit an increasingly important and local one. Find ways to get totally immersed and involved with your client base first before you try and get them to like you. Then make sure your dynamic content strategies have them coming back for continuing conversation. For a great example, click over to Onpoint Credit Union’s “Share your story” on-going conversation.

11. Evolve your branch – the branch is now the alternate channel. Its traditional role as the main transaction center will continue to diminish. Are you adapting your network using new technology and developing advice and knowledge centers where you can deliver a brand experience that builds your advocate base? You read about these two steps above, didn’t you? Revitalize the branch today before it becomes a brick & mortar albatross you can’t sustain. See first hand how Vancity Credit Union underwent major change in the way it does business in its branches.

12. Embrace technology – If you don’t evolve mobile banking, and specifically mobile deposit and apps, then this is the year you get left in the dust. Arm your in-branch associates with tablets for robust consumer interaction. Install multi-tasking transaction equipment and bring fewer tellers out front to manage them… just like Home Depot and the airlines do with one associate and six self-serve registers/kiosks.

13. Go geo-local – despite everything going on with transactions, branches, POS, technology, etc., the battleground for share remains in the local geographic area of your footprint, and more specifically, in the footprint of your individual branches, storefronts and ATM locations. As they say, “think global, act local”. Target your marketing and advertising into these footprints and don’t worry about the entire market unless you have complete saturation with your network. As Willie Sutton almost said, “Spend your marketing dollars where it makes the most sense, because “that’s where the money is”.

There you have it. I’ve delivered thirteen specific paths to pursue to evoke transformational change across your entire organization.  What would you add? Where do you start? If I’ve piqued your interest, maybe I’ve earned a chat with you to figure it all out.

Welcome to our “it’s about time” blog – The Jam

No one will accuse Weber Marketing Group of being fast followers to the agency blogging world. But we chose to launch our blog (appropriately named The Jam) only when we thought it was relevant – and maybe finally ready for prime time. After scanning, I’d love your feedback on whether you think it’s ready – or not.

Our intent was to mix part ‘brand think tank,’ part consumer behavior voyeuring, and part creative jam session about the relevance and execution of great (and not so great) advertising, branding, marketing and culture building – not only in financial services, but across industries. Oh yeah, and music too.

So why call it The Jam?

Besides having a collection of unique creative thinkers and some musician-dreamers at Weber Marketing, our building roots are inexorably linked to Seattle grunge band Pearl Jam. Our space (before we designed and built a LEED Gold building) was the 15-year practice studio jam space of Pearl Jam. So we chose a name that best expresses the musical metaphor of muse – inspiration that drives creative expression. If you ever visit our Seattle office, you’ll see how we celebrate that vibe with a music tribute of art, paintings and instruments.

Living in a wired city like Seattle with deep and creative musical roots as diverse as Ray Charles, Jimmy Hendrix, Nirvana, Death Cab for Cutie, Fleet Foxes, and Macklemore, it’s pretty weird not to love music here. Some of us at Weber Marketing are beyond love…we have weird, recurring dreams of sold out concerts.

What other medium can sear 180 seconds of your junior prom night into your brain and drum up those tearful, hormone-ravaged feelings like music? Jamming music is like exercising good muscle memory. So is marketing, done right, which it usually isn’t.

Some of us at Weber Marketing jam regularly and even write songs. Some of us make art. Maybe it’s a mid-life crisis to lust for the sound a Gibson J45 guitar makes or the sight of a Les Paul – we don’t care, it feeds our creative juices.

So all of that just to say, that’s why we called our blog The Jam. Jam with us in the months ahead. Something happens when passionate creative and strategic people work to learn – and create something new together.