2013 Changed Things

Posted: December 30, 2013 in Thoughts, Uncategorized
I may have needed a new car.

New Car Needed – 2013 Year of Change

I realize I haven’t been around for a while. I have many reasons for this but really only wanted to share a few of them. For me 2013 was a year of changes. This year I changed jobs, locations, and even got a new car (not on purpose). I recently made a move back to Arizona to be the Digital Media Manager with the ASU Alumni Association. I am happy to be back at my Alma Mater and making good use of my skill set.

In all 2013 was a year of change and change is good. Keeps one from stagnating where they are. Yes some change is scary (like that car crash or moving out-of-state) but it only makes us stronger.

So on the back of my year of change I have decided to make 2014 a year of improvement. I plan on improving myself and those around me. To kick it off I am planning on going back for my MBA this year. It will be a lot of work with all my current obligations but I thrive on challenge. I am also going to be speaking again this year. I am on tap to speak at CUNA Marketing and Business Development Council’s 2014 conference on Social Media. I will be speaking on the Science of Social and bringing a lot of advanced ways to look at social media.

I am excited for what 2014 has to offer and challenge you to look at ways to improve yourself and those around you. If there is anything I can do to help you, I am all ears. I really want to help others as I feel I have been helped a lot in my journey and feel the need to give back.

GrowAmerica

Posted: August 27, 2012 in Uncategorized

I recently had the opportunity to learn a little more about the people and work of Grow America. For those that do not know, Grow America is all about helping people get their own business up and running. They provide tools, training education and more as they understand that true economic growth only comes from small business. I have always been a fan of small businesses and what they do ever since I was a kid. My love of business was only solidified when I worked at Washington Mutual as the Business Banking Specialist for my branch. I was able to really get to know what financial struggles faced many small business owners. It doesn’t hurt that I have started a business in the past as well.

The part of the conversation I had with Grow America that interested me the most was about their Springboard competition. The Springboard competition is going to give away $250,000 to a few lucky businesses to help get their ideas off the ground. The registration part is open until August 30th and only requires an executive summary of your business idea. If you have ever had an idea floating around in your head, now may be the time to get it out there. Judges will be available to critique your idea to make sure you have the best shot at success possible. 

Competitions like this make me wish I had an idea worth sharing. Guess I still have a few days to figure that out.

Pike's Place Fish Market in Seattle

While in Seattle I had a chance to watch and see what makes Pike’s Place Fish Market different from the other markets within Pike’s Place. Be original.

Last week I had the pleasure of visiting a city that has been on my “To Visit” list for quite some time. That city was sunny Seattle. I had the pleasure of speaking at the Marketing Association of Credit Unions (MAC) annual conference on Social Media Monitoring (my slides can be found below, if you care to look).

One spot I knew I had to stop while there was Pike’s Place Fish Market. While working for Washington Mutual, I was exposed to one of the many corporate training videos that deals with this small fish market. In the mid to late 80’s, Pike’s PLace Fish Market was in trouble. It was on the brink of bankruptcy but the owner and employees knew they had something special. It was then that they decided to become world-famous. That is no small feat. How could a little fish stand in a city known for seafood become world-famous, let alone a tourist destination?

Be Original

Much like Steve Jobs and Apple, this little fish stand decided that they wanted to be different. The staff decided to bring some personality to the stand. What started as an idea to save the company became a new way to look at business. It wasn’t about the fish or how fresh it was, it was about the experience. It started with throwing the fish from the display case to the packaging area when a customer placed an order and it grew into a show. The employees have fun with what they do. They enjoy their work. How many businesses can truly say that about their employees?

Being different from the other 3 or 4 fish stand in the Pike’s Place Market, and the city of Seattle in general, saved this little stand from bankruptcy. It has inspired many managers to work in a completely different way than they previously thought. It has inspired many employees to bring something extra to work and really learn to enjoy what they do. Check out this clip from one of the motivational videos about this stand and you will see what makes them stand out.

If your business is struggling, what can you do to save it? How can you think differently about what you offer? Much like the fish market, they realized that fish could be a secondary product and getting people to the stand needed to be the first priority. This turned the employees into entertainers. You may not be able to entertain your customers, but you surely can be original in how you do your business.

Sex Doesn’t Sell

Posted: May 17, 2012 in Marketing, Thoughts
Sex doesn't sell

They can’t do what we do, and they hate us for it. – Don Draper

So I am very late to this but I recently started watching Mad Men on Netflix. I figured that I am required to have at least one Don Draper inspired post on my blog since I am in marketing. This should fill that requirement.

So far one of my favorite “Draper-ism” relates to a conversation with Peggy in the second season:

Peggy Olson: Sex sells.

Don Draper: Says who? Just so you know, the people who talk that way think that monkeys can do this. They take all this monkey crap and just stick it in a briefcase completely unaware that their success depends on something more than their shoeshine. YOU are the product. You FEELING something. That’s what sells. Not them. Not sex. They can’t do what we do, and they hate us for it. – via imdb.com

I have written about using sex to sell in the past but with this great quote, I wanted to add to it.

Sex Doesn’t Sell

Using sex to sell your product sells your audience short. It is the marketing equivalent of selling to the lowest common denominator. People typically see through this tactic pretty quickly and should not be the basis of your corporate image. Did it work for GoDaddy? In a way. What really works for GoDaddy is their low rates, the “sexy” ads just get people to the door.

So what works? In my post from earlier I stated it is a “WOW” factor that sells. Don calls it a feeling. When you make your audience feel something, you begin to sell. Old Spice did it with their humorous “Man Your Man Could Smell Like” ads, and DollarShaveClub.com has done it with their Youtube video. They hooked you with humor. Other ads tug at the heart-strings and really make you feel some powerful emotions.

So when Don says sex doesn’t sell, we should listen. Start figuring out what your target demographic feels. Why was Bank Transfer Day so successful? The people felt anger towards the big banks for the debit card fees. Without those fees there would have never been a “mass exodus” of bank customers. Why does BofA still have customers? The ones that stuck behind did not FEEL what the others felt.

Sex doesn’t sell. It may get looks but in the end you need something more. Don’t let the monkeys handle your marketing. Make your audience feel something strong. Show them how they can integrate you into their lives without any effort.

What companies make you “feel” something strong enough to get you to buy their products? What is your favorite “Draper-ism?”

Costanza is known for having a large wallet. Google and Isis want to change that.

NFC technology is hoping to make a bulging wallet a thing of the past. Is your credit union ready to make the change?

No will deny the fact that technology is ever-changing. Stats are thrown around about how an iPhone is now more powerful than NASA’s supercomputers were in the 70’s. That is impressive.

With all of this change, businesses need to be constantly evaluating what their options are at all times. The credit union industry is no different. In fact it may have more to lose with some of the new technology coming down the road.

Let’s look at Near Field Communication (NFC) technology as an example. NFC is technology found in phones that allow an individual to pay for goods and services without pulling out their debit or credit card. This technology is much more commonplace outside of the United States but even within it is growing. Currently there are two main competitors in the space, Google Wallet and Isis. While Isis is still testing out their network, they do have the backing of Verizon, AT&T, and T-Mobile. This ensures that Isis will be available on many handsets in the near future. Google Wallet has, of course, Google backing the service, along with MasterCard. This enables Google Wallet to be used anywhere PayPass is accepted.

Yes, at least with Google, there needs to be a debit or credit card backing the purchase but currently the only card compatible is a Capital One MasterCard or the Google PrePaid MasterCard. That means each and every credit union will either miss out or be left funding the Prepaid card (all of this could change once Google Wallet opens up its software). The Durbin Amendment has already limited access to fee income many credit unions and banks relied on. This will only take more.

While NFC has not yet hit critical mass, the rumor mill is ablaze with Apple working on their own NFC technology. This could change this greatly.

Next up is PayPal. Have you heard PayPal is working with many national retailers to make it feasible to use your PayPal account to make your purchases at the register? Why does this matter to credit unions? PayPal currently has over 220 million accounts. This makes for a lot of potential customers for this service. Many have used PayPal as a makeshift savings account and now they can use it as a checking account too.

Never fear! There are always things you can do to counteract new technology that could negatively affect your business.

1. Learn everything you can about the service. Test it out yourself, if you can. Merely saying that the service is not safe will not stop people from using it. Look at Foursquare. Many have denounced Foursquare for privacy reason but people still use.

2. See how you can adopt the technology. The old mantra of “If you can’t beat ‘em, join ‘em” is in full force. If this is the way your members want to go, let them. I would suggest making sure your cards can be added to Google Wallet, Isis, or Apple’s service once it is all made available.

3. Create your own! While it may not be economically feasible for most institutions to go on their own with this, it is always an option. The IT infrastructure that would need to be in place might be a little much and it really would be easier to integrate into the current structure.

As tech is ever-growing, what do you see as being an issue from credit unions (or other businesses) in the near future?

P.S. Having used Google Wallet, I do appreciate it. I am one of those people who is always fumbling with my phone so not needing to put it down to pay for my food is great for me. Is Google Wallet the answer? Time will tell. NFC is here to stay though.