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by James Robert Lay on June 14, 2022
Brief Summary of Episode #202
Digital banking has experienced exponential change since the rise of COVID.
Perhaps no one has been affected by this more than marketing teams.
Financial brands often bring in outside consultants to help with what they see as a marketing issue.
However, Bo McDonald argues that what they should be doing first is asking hard questions to determine the real problem.
We continue a dialogue that the president and CEO of Your Marketing Co. started in an article he wrote, 4 Reasons Your Credit Union Marketing Isn’t Working, that explains why he believes most FI marketing strategies aren’t working.
Bo and I discuss how fear of failure has tilted the perspective of marketers. By giving in to fear, they have let emotion override their commitment to action.
Fear is the killer of opportunity. It feeds a resistance to change that has caused the slow death of so many financial brands.
It’s why Bo believes confidence is the greatest attribute that new leaders can bring to the table. Without it, you will never build trust with your constituents.
And we know that trust is key to advancing the growth of our financial brands.
Join us as we play a bit of “Jeopardy” and answer the question behind the marketing problem.
Key Insights and Takeaways
- Asking questions to determine why a marketing problem needs solving [6:24]
- Overcoming fear of failure through perspective [9:30]
- Discerning between passion and commitment to a call to action [19:20]