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by James Robert Lay on November 8, 2022
Brief Summary of Episode #244
As the world attempts to return to a pre-COVID level of normalcy, many banks and credit unions have fallen into a pattern of hustling for busyness’ sake.
Rather than leave room for the creative process, they’re packing that space with dead-end work.
Martha Bartlett Piland, President at BANKTASTIC, has a great phrase for this observation in her book, Beyond Sticky: the “commodity hamster wheel.”
“The hamster wheel is this urgency that, if I’m busy, maybe I’m creating something,” she told us.
But as she pointed out, doing the same work over and over isn’t innovation - it’s quite the opposite.
“How do we generate love and loyalty that makes everyone feel good instead of this exhausting, endless loop?” Martha argued. “Be more intentional about how we bring value to customers.
And financial brands can do just that by overcoming their emotional anxieties.
“We all are emotional beings, and we all have brands that we love,” she said. “That builds long-term revenue when somebody is emotionally connected.”
By connecting with the audience and community, we can escape the transactional rat race and begin digital transformation.
Key Insights and Takeaways
- Breaking away from the busyness to regain perspective (3:24)
- Pivoting back to focusing on giving value to your customers (17:34)
- Taking advantage of comm channels to spread brand awareness (32:28)