As a marketing or business development leader, do you struggle to align your departmental goals with the overall corporate strategy? How do you replace "busy-ness" with "purposeful activity"? Are you sure that your team's tactics and activities fully align with your goals?
Susan Toalson, chief marketing officer and vice president of community & business development at $300 million asset University of Illinois Employees Credit Union, Champaign, Ill., tackled these questions during the CUNA Marketing & Business Development Council Conference in Las Vegas.
Toalson had three objectives for attendees:
1. Think about creating goals that are more in line with the overall strategic goals of your credit union;
2. Take back real-life balanced scorecard templates to use at your organization; and
3. Connect with, and learn from, other attendees.
“Marketers are super-doers, they’re action-oriented individuals who like to get things done," Toalson says.
But it’s often a challenge to tie this activity back to a credit union's larger strategic goals, a syndrome that often results in marketing execs acting like "hamsters on a hamster wheel." That’s why it’s critical for marketers to have a seat at the table during the strategic development process.
The session included several breakout exercises including a "marshmallow challenge” to demonstrate team building and collaboration, and hands-on development of balanced scorecards for three levels of management at a Fortune 500 company.
Implementing balanced scorecards at every level of the organization, Toalson explains, aligns specific activities with overall strategy, and allows effective communication of the strategy throughout the organization.
But most important, she says, is to involve your entire team in marketing and business development activities, keep the momentum going, and have fun with the process.