Credit Union Geek

Marketing, Strategy, and The Force by Joe Winn

Tag: members (page 1 of 3)

Billions of Dollars for Data? You bet!

You may not have seen, but Microsoft just wrote a check few can imagine. In pursuit of a comprehensive business platform, they are acquiring LinkedIn for a staggering $26.2 billion. In cash.

It would be the largest acquisition in company history, far exceeding the $8.5 billion they paid for Skype. So what can a social media platform for job hunters, executives, general employees, and recruiters possibly have to offer for a software and services firm like Microsoft? I mean, they have Office. What else could they want?

Big Data. Hold on, let me rephrase that. #BigData. Because knowing the trends behind it helps to better understand the rationale. Remember that article CU Insight shared of mine about your members’ data? It’s truly big business, and whatever you aren’t doing, someone else is. Besides, it’s really about better serving your members, and using the information you already have is the best way forward.

I cannot stress enough the importance of embracing data to further your personalized offerings. And once again, you don’t have to be working with millions of people or data points. Just a few carefully-selected points helps you draw incredible conclusions. Sure, it will raise important conversations about member privacy. That’s a good thing. But you have to be doing it.

I’m here to help. Feel free to contact me here (the old-fashioned way) or on Twitter @JoeCUGeek. I promise your credit union can take substantive steps for less than $26B. Trust me, I’m a geek.

Image credit: http://www.aicpa.org/Advocacy/CPAAdvocate/PublishingImages/Data%20Tunnel.jpg

Happy ICU Day!

Today is International Credit Union Day.  First celebrated in 1960, it…oh, what am I doing?  You know all this already!  But were you aware CUNA has made available loads of resources to best embrace the spirit (and publicity) of the day?  Simply visit CUNA’s ICU Day site for sample social media posts, history, beautiful banners and quotes, along with links to charitable efforts and much more.  Below is a poster which sums it all up.

ICU Day Poster 2015 22x28

Of course, knowing you’re part of something greater can inspire an emotional connection.  Unlike baseball’s World Series, this International celebration really does span the whole planet.

Belize quote

Veteran credit union staff and members may remember when the first ICU Day was celebrated.  Talk to them to empower yourself and others with the true spirit of the effort.
Eisenhower quote

At the end of the day, you can bank anywhere.  Why should a person become a member of your credit union?  Sometimes, going back to your roots and looking to the past for inspiration can create a brighter future.  Happy International Credit Union Day!  I’ll be engaging with credit unions throughout the day on Twitter.  Join the conversation with #ICUDay or directly at @CUNA (their official account) and @JoeCUGeek (that’s me).

Generation “They’re So Different From Us!”

Which generation do you think I’m referencing? Millenials? Gen Y? (which seems to have been absorbed into the former, sadly) Baby Boomers?

All of them.

It doesn’t matter how old you are; if you’re reading this, you know what I mean. When you were younger, people your parent’s age proclaimed, “kids these days have it so easy.” I bet you heard them continue, “they’re entitled, don’t want to work hard like we did, and just look at everything as a way to have fun! The world and workplace will never be the same.” I’m pretty sure this was followed by a, “get off my lawn!” and an exasperated, “garumph.”  An Egyptian tomb dating back thousands of years had an inscription (paraphrased): “We live in a decaying age. Young people no longer respect their parents. They are rude and impatient. They frequently inhabit taverns and have no self control.”

Put aside the leaps in technology and communication/connectedness for a moment. How different, really, is any generation from another? Each wishes to make their mark, improving quality of life while minimizing labor. The Baby Boomers looked to their parent’s generation. A group of people which fought in two world wars, struggled through a global depression, and still managed to settle down into the largest growth spurt of human history. Then, they provided an unmatched quality of life for their families. What do you think one of such history would say after seeing the first hippie?

Those earliest of Baby Boomer parents…poor, poor souls. Can you imagine their faces seeing the rise of goth, punk…boom boxes? Generation X must have seemed as foreign as the Martians from War of the Worlds. “They will never understand the hard work it took to get here, and now they are just wasting their lives listening to, what is it, metallic music?” Yet Gen Xers have adapted to and helped shape our global workplace.

The buzzword of the decade in generation-speak is “Millenials”. Since there is no clear definition on who these always-connected and entitled brats even are, let’s just say anyone born after the early 80s. See? You can make such comments for any group. Though I’m no brat.

Alright, Millenials. From what I have been told, they are all ADD suffering, helicopter parent raised, technology-addicted youngsters for whom the status-quo doesn’t work. They aren’t receptive to traditional marketing, nor do they wish to work in a typical workplace. Given they, like generations before them, are the first to adopt new technologies, of course the “old” strategies are less effective. But this isn’t something new. The largest difference is the degree of change…in the past 20 years, we have seen a revolution of global interaction and communication unlike any in human history. Where the jet age enabled affordable travel near and far (and, ho, so fast!), the information age brought that exchange up to the speed of light.

So how can any of this help your strategies?

Look forward. Plan how your services can be made simpler, faster, and more focused to each member. Make them fun, usable no matter where you are, and always retain the human touch. And tell your members, all the time, because people of all ages have very short-term memories, and we might forget about all the great things you can do for us.

Continue the story in a new post: “Millenials Love Technology…Everybody Knows That”!

Image courtesy of http://www.startrek.com/uploads/assets/articles/voyage-home.jpg

Egyptian quote attributed to Buckminster Fuller in his book, “I Seem to Be a Verb”

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