Independent Banker - December 2021 - 27

the
3 Digital �irst is a must.
4 Make it fun.
We live in a society where we are
constantly on our phones. Simply, if your
consumer reach is not designed to be
digital �irst, your brand is less relevant
to customers. The product roadmap for
launching new products as well as
ongoing improvements to
existing services needs
to be evaluated through
the lens of a digital �irst
approach, because that
is the best bet your
brand will continue to
grow in today's market.
I believe in the concept of the positive surprise
in marketing to stay relevant across all age
groups. Consumers are expecting some of it,
and brands that do it well are thriving. It also
will have a favorable impact on your ROI. If a
coff ee shop gives away a free cup of coff ee
every Tuesday before 10 a.m., consumers may
get into the habit of only visiting every Tuesday
morning. If it's too predictable, it's no longer
fun or eff ective.
5 Measure engagement.
The banking community measures
performance of any service through traditional
P&L benchmarks. In addition to this traditional
method, brands should put more emphasis on
measuring on how consumers are engaging
with your product or service. This type of
approach has two bene�its for brands. Early
engagement is a strong predictor of future
performance, therefore it should give the
�inance team a solid forecast of the future
�inancial performance. Equally bene�icial, this
type of approach allows brands to see how
consumers are reacting to your off ering, so
that any tweaks that may be needed can be
made in real time. Poor engagement directly
aff ects future pro�it and loss.
6 Don't be afraid to change your
value proposition.
Your customers are expecting it. Banks have
historically been known for a " setting it and
then forgetting it " type of approach to loyalty.
Although there are some consumers who
prefer things as they are, for the majority,
brands don't want to be perceived as stale or
predictable. Too much change deployed too
quickly can also be hard for people to absorb,
but the constant, regardless of how minimal
improvement, of a service should be part of
your overall strategy. Most importantly, having
big idea

Independent Banker - December 2021

Table of Contents for the Digital Edition of Independent Banker - December 2021

Table of Contents
Independent Banker - December 2021 - Intro
Independent Banker - December 2021 - Cover1
Independent Banker - December 2021 - Cover2
Independent Banker - December 2021 - Table of Contents
Independent Banker - December 2021 - 2
Independent Banker - December 2021 - 3
Independent Banker - December 2021 - 4
Independent Banker - December 2021 - 5
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Independent Banker - December 2021 - Cover3
Independent Banker - December 2021 - Cover4
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