Socially-Distanced Marketing, Strategy, and The Force

Tag: change (Page 1 of 2)

After Coronavirus, Normal Is Forever Changed [Video]

You’re looking forward to getting back to normal. I get it. The change we’ve all had to endure is immense. It’s thrown us all off our game. It’s tossed a bowling ball into our Jenga tower of perceived normal.

And just like that toppled tower of wooden bricks, normal will reassemble itself different than what you remember.

That’s ok. So long as you’re ready and prepared. Here’s a hint: “Digital transformation” is a thing you need to do now. Before Coronavirus (BC, again?), you could get away with slow transitions. Now? No longer.

People experienced remote work. They used digital platforms. We saw highways empty during rush hour. Many of those missing cars belong to people now at home, doing the same work, without the commute.

From my house to yours, let’s help those who need it (they’ll be a lot) and work together to bring the new normal into view.

Turn on captions if your device is muted.

Shifting Baselines & Your Credit Union

Originally published on CUInsight.com.

Ever visit someplace from childhood and think, “wow, I remember it being bigger”? Go back a few times or ask your kids (who are there for the first time) and all seems normal. You’ve just experienced Shifting Baselines.

It’s All In Perceptions

Think of it as a change in the perception of normal. I’m not talking about how your impeccable teenage styles seem ridiculous now. Let’s be honest, flower headbands will always be cool (as will bow ties). This is about one person’s standard becoming another’s outlier.

You may not be familiar with the term, and that’s ok. I’ve only seen it used when discussing environmental change. Even then, only in the oceans; fish size, abundance, and all.

But you’re in luck! I happen to have a background in ocean policy and marine science. It’ll come back around to credit unions, I promise.

The Salty Dog & New Fisherman

Let’s paint a scenario so everyone can grasp Shifting Baselines. We have two fishermen: one, an old salty dog, another freshly joining the industry. The former sings shanties of days gone by, the latter just waits for their first day on the water. Here’s where the trouble begins:

  • Our salty dog (lifelong fisherman) considers a “big fish” 150 lbs. and a “good” catch 1,000 lbs.
  • The newbie (no prior experience in area) is excited to reel in a “big fish” weighing 50 lbs. and sails home with a “good” catch netting (forgive the pun) 400 lbs.

Do you see the issue? What is great for one is ruin for the other. However, the new fisherman has no memory of the “better days” and instead considers their first day the norm. When our salty dog leaves the industry, their standard and memory goes with them.

Things Got Worse. No One Noticed.

Moving forward, smaller fish and fewer of them is expected (without ever realizing the loss). Yet we know the past really was brighter. In fact, who’s to say our old fisherman wasn’t reminiscing over already diminished catches? Maybe their elders sang of even larger fish!

Shifting Baselines In Your Credit Union

Are you suffering from Shifting Baselines in your credit union? Take the opportunity to speak with your longest-serving staff, board members, and even members. Get their take on how the institution has evolved. Are the new normals for the better?

Within the marine realm, Shifting Baselines almost always represent a loss. Does your credit union share the trend, or has the baseline improved?

If I walked in to your branch, my standard would begin at that moment. If compared to a member from 50 years ago, would I be pleasantly surprised or disappointed?

Do you have stories from your credit union’s “old salts”? Share them here or with me on Twitter at @JoeCUGeek.

For more information on how Shifting Baselines applies to our oceans, visit Smithsonian Ocean Portal.

Image credit: Me

Squeaky Wheels Getting The Grease

Originally published on CUInsight.com

Change is tough. And not just for your own team. Your members get comfortable with a product, process, or service, too. Even if it has some obvious issues. Here’s the wildest thing: When you improve, some will hate it. Because comfort and familiarity is easier than change.

Of course, this doesn’t mean you should never look to change anything. Evolution is a natural part of your operations. There will just be members (and staff/board members) who don’t like it. Solicit their input and apply improvements where necessary. You did ask what everyone thought first, right? If the project threw a lot of people outside their comfort zone, it’s going to be a long haul to get it right for most. But not all. You can’t satisfy everyone. If you are confident the change is a necessary and beneficial step for the institution, then that’s the end of the story.

You will receive complaints. And that stinks. Address those you can. The rest? They might be different members for a different credit union. We’ve worked with credit unions where they feared potential member complaints (by their admission, less than 1/100th of a percent) enough to abandon great improvements. Improvements which would have brought them in significant revenue, but, more importantly, helped their members in numerous ways. In their case, it wasn’t even squeaky wheels getting the grease. It was the thought of a squeaky wheel convincing them to avoid driving.

As a partner with many credit unions, I understand how important it is to build and maintain relationships. That’s the core of our success and of yours. Earning the trust of your members is paramount. It’s also essential to realize when you might be sacrificing the needs of the many, or the few, for the one. (I had to. I’m sorry. Mr. Nimoy, you’re still missed.)

If you roll out a program to your membership and 0.001% complains, while 95% express high satisfaction, you work with that small group, then continue forward.

Just keep some WD-40 on hand.

Image credit: http://www.fluentu.com/blog/english/useful-english-proverbs/

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