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Status Quo Is Quazy Talk!!!!

Patrick K. Adams St. Louis Community CU. Status Quo Is Quazy Talk!!!!. The Ultimate Goal. A Leap In Value Rapidly Earns Buzz & Loyalty… And Dare We Say Growth. Create A “LEAP” In Value. L---------Love The Idea E---------Energy Is Key A---------Audacity Shakes The Tree

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Status Quo Is Quazy Talk!!!!

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  1. Patrick K. Adams St. Louis Community CU Status Quo Is Quazy Talk!!!!

  2. The Ultimate Goal A Leap In Value Rapidly Earns Buzz & Loyalty… And Dare We Say Growth.

  3. Create A “LEAP” In Value • L---------Love The Idea • E---------Energy Is Key • A---------Audacity Shakes The Tree • P---------Possibilities Are Present

  4. GROWTH SCALABLE ADVANTAGE RETURN TO MEMBER LABOR OPPORTUNITIES COMPETITIVE POSITION LONG TERM SURVIVAL WE HAVE ESTABLISHED INFRASTRUCTURE NEED TO DRIVE MORE BIZ THROUGH IT!

  5. Business Lifecycle

  6. Strategic Inflection Point • Avoid The “Uh-Oh” Point

  7. The Market Is Crowded & We Look Like Everybody Else… • Competition • Commoditization • Consolidation • Consumer View • Contracting Market • Competition vs Consumer Tastes Like Chicken Is Not A Compliment

  8. In A Crowded Market… • Profits Reduce • Growth Stymies If supply is exceeding demand, then we are competing for market share that is contracting.

  9. A New Logic We Have To Innovate Our “Value Proposition” • Growth & Prosperity Comes From Innovation • Innovation Is Foundation For Success

  10. We Can Either Compete… In A Shrinking Venue OR By Beating Somebody To Survive OR Finding A New Venue With No Competition Stop Benchmarking To Competition!!!

  11. CREDIT UNIONVS BANKS HIGH BANK BANK BANK BANK BANK CU CU BOTH BANK BANK CU CU CU CU CU LOW PRICE SERVICE MICRO BIZ SERVICES Youth ON-LINE BIZ SERVICES Products BRAND ADVERTISING CAUSE EDUCATION BM VISIBILITY CONVENIENCE ALTERNATIVE FIN. SERVICES NCB Partnerships NAME RECOGNITION

  12. Great BIG Ideas!!!! I. People Before Profit II. Service On Steroids III. Opportunities To Grow The Biz IV. Don’t Be Satisfied With Satisfied

  13. I. People Before Profit • Culture Eats Strategy For Breakfast • Commit To Your Value Discipline • Identify Your “A” Players • Embrace Creativity, Risk-taking, Problem Solving & Fun

  14. Identify Your Value Discipline… • Are We Product Driven? • Are We Operationally Driven? • Is It About Service Intimacy? Successful Companies Are Great At One Thing

  15. Mission StatementvsBattle Cry

  16. Know Who Drives The Bus • “A” Players • Strong Orientation • Ownership • Why vs What? • Role As Brand Leader

  17. Embrace Change • Promote Creativity • Don’t Be A Sissy Baby • Have A Kid’s Spirit

  18. II. Service On Steroids • Do A “GAP” Analysis • Understand The View From The Member’s Perspective • Pricing, Policies, Processes, Products • Build Relationships---Stop Processing Transactions

  19. Brand Business Silos Brought Together

  20. Member Expectations Close Gaps Close Gaps CU Deliverable CU Promise Close Gaps

  21. III.Opportunities To Grow The Biz • Find New Markets • Understand The Consumption Continuum • Identify Life Stage Opportunities • Embrace Lifetime Value

  22. Re-Orient Your Organization • Change From… A. Competitors to Alternatives B. Members to Non-Members Forces Credit Union To Re-define Member Value

  23. Great Big Idea!!!! Identify Your Non-Customers and… Build On The Powerful Commonalities Of What Buyers Value

  24. Three Tiers Of Non-Memberss • Close To You…Cognitive Level Of Loyalty • Refuse To Use You…Unacceptable Offerings • Never Thought Of You As An Option…Assumed They Belonged Elsewhere Go With The One That Provides You The Greatest Amount Of Potential Make Sure You’re Profitable & Sustainable

  25. First Second Third Tier Tier Tier Your Market

  26. IV. Don’t Be Satisfied With Satisfied • Optimize The Loyalty Level • Teach The Increasing Returns Biz Model

  27. Loyalty/Brand Integration Hard to imitate Hard to deliver Most meaningful “Lifers” Emotional/Spiritual/ “The Thing To do” Make it Personal Both functional & emotional …benefits are readily visible Easy to deliver Easy to lose Easy to imitate The power of translation… Feature to benefit

  28. Increasing Returns Business Model… The More Solutions…The More You Know The More You Know…The Easier It Is The More Services…The More Loyal The More Loyal…The Longer They Stay The Longer They Stay…The More Chances The More Needs Met…The Higher The ROA

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