5 habits that put financial marketers into strategic roles
Bank and credit union marketing executives can improve their department's standing (and their own) by better managing departmental time, working harder at internal collaboration, applying technology intelligently, getting serious about data analytics, and implementing better planning. A little internal salesmanship wouldn't hurt either. That's how they'll get a seat at the strategic planning table.
When a new marketing officer took over at a large community bank, she fit right in on the institution’s retail side, but she couldn’t get any traction with the business bankers.
They told her that they didn’t need any help from Marketing … actually, just one thing. If she’d just make sure the bank’s impressive annual report was ready on time, that was all they wanted. They loved handing out that glossy report to business customers. Clearly, they felt that as “real bankers” they didn’t need any help.
In time this marketer broke down that barrier. She proved her department’s worth to the business bankers. But it took time and much effort. In the end, top management increased her budget to enable her to add more marketing staff.
That’s a story that resonates with many financial marketers. They know when their institutions’ leaders take them seriously as strategic partners — and when they are figuratively being patted on the head, and told to go back to their desks so their seniors can make the big decisions.
continue reading »