Almost everyone is familiar with the “Where’s Waldo?” search-and-find books. These books show massive images covered with colorful chaos at beaches, mansions, forests and many other locations. The reader’s objective is to find Waldo, a man dressed in a candy cane striped outfit. And these puzzles can be challenging when looking at them from a bird’s-eye view…but you always eventually find Waldo.
Now, imagine stumbling around inside one of these pictures! Searching for Waldo would be near impossible amidst the teeming crowds of people!
Unfortunately, that’s what many financial organizations are doing when it comes to a bank and credit union marketing assessment. They’re looking at it like insiders; they’re living in the picture. It’s time to take a step back and diagnose your problems so you can turn the page on nagging hurdles.
The Johari Window
The Johari Window is a visual tool describing how knowledge is (and isn’t) shared among people. It has four parts:
- Known to you and known to others = common knowledge
- Known to you and not to others = insider knowledge
- Not known to you and known to others = blind spot
- Not known to you or others = unknown
Blind spots are the important parts to focus on when assessing yourself. These are things everyone else sees at that bird’s-eye level, but you’re too close to tell what’s happening. For example, consumers experiencing your service think it stinks but you think it’s excellent based on brief observations.
In one mystery shop we performed, leaders thought their service was great. Meanwhile, staff were directing our shoppers to go to other institutions. Talk about a major blind spot!
“Assessment” Isn’t a Dirty Word
People hate the words “assessment” and “audit.” In the former case, it reminds them of long study hours and their SATs. And in the latter, it evokes images of regulators rooting through drawers.
But a bank or credit union marketing assessment doesn’t have to be grueling when you do it…in fact, it shouldn’t be.
When you conduct an assessment on any area of your organization (not just your marketing), remember that it’s a “helpya” rather than a “gotcha.” You’re identifying blind spots and implementing solutions. You’re not trying to ruin a person’s job. Assessments should remove confusion from the picture, allowing you to find the Waldo problems plaguing your growth.
What Can You Assess? Everything!
Assessments aren’t restricted only to marketing. You must answer questions about a wide range of functions:
- Strategy – are you focusing in the right spots?
- Leadership – are your leaders working as a team?
- Brand/Marketing – is your brand and marketing attracting consumers?
- Service – are staff living your brand and pleasing people?
- Website – does your site welcome consumers and make things easy?
Assessment Tools
Here are a few tools to use as you start assessing your organization:
- Marketing Assessments – Critically review your marketing strategy, materials, social media and website. Changing your marketing may be the key to attracting more business.
- Working Genius Assessments – These assess your leaders by uncovering how they enjoy working. When leaders understand one another better, it increases cooperation and organization-wide results.
- Mystery Shops – Send someone into your branches. Have someone contact your call centers. Take notes on consumer service in each channel and administer training as needed to close gaps between your marketing and lived brand.
Enlist some type of third party to help with these assessments. This can be an outside partner (required for Working Genius) or simply someone from a different part of the organization with an objective viewpoint. Remember: you’re too close to it!
On The Mark Strategies helps you conduct a bank or credit union marketing assessment if you need a new perspective. Book a free consultation now to get started.
