It’s one of the most famous twists in movie history. And it’s relevant to your bank and credit union strategy, marketing, branding and training right now. So, what’s the twist? It’s the climax of “When a Stranger Calls.”
A babysitter receives threatening calls throughout the night as she watches the children of a wealthy family in their large home. Increasingly panicked, she calls the police and asks them to trace the call. Towards the end of the movie, they call her back with unsettling news: “The call is coming from inside the house.”
Chilling, isn’t it? But horror isn’t just confined to the movies. You have a villain hiding in your organization too…complacency.
While external factors like rising rates certainly affect your business, you can’t overlook internal factors. Having a firm grasp on your internal issues and addressing them will help your organization survive tough external environments. A ship with a good rudder will still navigate stormy seas. One with a broken rudder is going straight to Davy Jones’ Locker.
There are four key success markers the top organizations excel in – strategy, branding, marketing and people. Let’s examine how to reject complacency in each area.
1. Strategy
The hamster wheel effect is strong in most organizations. You spend so much time on tactical tasks, extinguishing fires and survival that you neglect the long-term stuff. You run, run, run and run some more without taking a breather to orient yourself in the market. It’s a fertile garden for complacency.
Step off the hamster wheel by:
- Holding a regular planning session with a facilitator who pushes you
- Scheduling dedicated, full-stop strategy work time
- Looking outside your window at what other people are doing
2. Branding
Too often, the brand is optional. Or uninspiring. Or surface-level. And when many products you offer are commodities available anywhere (ex: checking accounts), you need that extra pizzaz to attract consumers. This doesn’t mean getting a new logo and assuming everything’s good. It’s easy to revamp visuals and complacently accept a dull brand personality.
Strive for more by:
- Putting bank and credit union strategy first and visuals second
- Locating your differentiator (and broadcasting it)
- Making living your brand mandatory
3. Marketing
Marketing is easy to put on autopilot. Just push out the same content you’ve always done. Just cut the marketing budget. Just wait to update the website until next year (even though you said that last year too). Just lose momentum and growth potential. Marketing complacency means you aren’t communicating with consumers and bringing in business when you need it most.
Take control of your marketing by:
- Investing in its initiatives
- Trying something new if your usual methods aren’t working
- Bringing in help if you can’t stay consistent
4. People
Settling for the bare minimum on the people side feels necessary in a challenging labor market. Many employees are simply collecting a paycheck, but you need people in the seats. One of your team members is incredibly toxic, but they are a high achiever who hits their numbers. But settling like this drives your rising stars away, compromises your bank or credit union strategy and creates an unpleasant environment for consumers.
Enhance your people by:
- Aligning staff around inspiring vision and values
- Training your rising stars as an employment benefit
- Parting ways with those who refuse to live your brand
Disconnect the call coming from inside the house by pursuing excellence in all four success markers. And if you need help in any of them along the way, book a free consultation with On The Mark Strategies.
