“Justify your existence” would be a fitting mantra for these marketing and business development rock stars, who sing the praises of strong analytics as way to prove their endeavors are worth the money budget crunchers sometimes begrudgingly allot to them.
The CUNA Marketing & Business Development Council named these Diamond Award-winning professionals as their top marketers for 2013:
►Lesley Carrell, senior vice president of marketing for $750 million asset Fibre Federal Credit Union in Longview, Wash. (Hall of Fame);
►Andy Reed, manager of business development for $5.5 billion asset American Airlines Federal Credit Union in Fort Worth, Texas, and secretary/treasurer for the CUNA Marketing & Business Development Council (Business Development Professional of the Year); and
►Lisa Nicholas, vice president of marketing for $627 million asset Amplify Federal Credit Union in Austin, Texas (Marketing Professional of the Year).
These pros discuss their philosophy to marketing/business development, keys to success in this arena—and which rock stars they’d be if given the chance.
CU Mag: What’s your guiding marketing/business development philosophy?
Reed: “Leadership equals sales.” I heard this expression from a credit union CEO whose career began as a marketer [Teresa Freeborn, CEO of Xceed Financial Federal Credit Union, El Segundo, Calif.], and it quickly became my philosophy as well.
Credit unions can’t take the marketplace by storm if they don’t understand the contribution they make to people’s financial well-being. And the best way to make that happen is to become a member and experience the difference.
We have to sell people on the credit union experience. Hopefully, we do that consultatively, through our commitment to improve people’s financial well-being and not to drive numbers or metrics.
But here’s the real deal: Number crunchers can’t crunch numbers without numbers to crunch. If credit unions don’t embrace a sales culture, give our profession a seat at the strategic table, and get serious about growth, our industry is at high risk of extinction.
Business development is about ensuring survival. Training is the backbone of the organization, and business development is the future.
Nicholas: Marketing should be built on a strong foundation that results in a positive outcome for the member and is fiscally responsible for the organization. We’ve had a lot of success getting team members on board and genuinely believing in what credit unions do: helping people achieve financial success.
So we do a lot of internal training for staff, and also for members. I think that’s why they come back and refer us to their friends.
Also, marketers have to know where they’ve been so they know where to go. So I base a lot of our decisions on analytics.
Carrell: My philosophy has always been that marketing is as important as finance, operations, information technology, or any other discipline in helping credit unions succeed.
To be successful, a good marketer has to be proactive in leading efforts to update, launch, and improve products, procedures, systems—and we must always think strategically.
NEXT: Keys to marketing success
Bill Merrick is deputy editor of Credit Union Magazine. Follow him on Twitter via @CUMagazine.