10 areas of opportunity financial brand webinar
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The document outlines 10 areas of opportunity for financial institutions in 2011 in light of changes in the market. It recommends that institutions 1) understand their current market and customer base, 2) acknowledge shifts in consumer mindsets post-recession, and 3) look outside the industry for inspiration on meeting evolving expectations. It also suggests defining a specific target market, differentiating strategically, joining online conversations, and adapting to changes rather than relying on old ways. The overall message is that financial institutions must understand changes in their environment and customers to succeed in 2011.
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10 areas of opportunity financial brand webinar
- 1. taking areas of opportunity for financial institutions in 2011 JOE SULLIVAN| MARKET INSIGHTS 息 2011 Market Insights advantage of new market opportunities 10
- 2. 息 2011 Market Insights Restating the Obvious: THE WORLD HAS CHANGED so have your customers, your markets, your competition, your challenges, and your opportunities
- 3. How will you respond? 息 2011 Market Insights
- 4. 息 2011 Market Insights How has it changed, and how will it change? 1 Know your market.
- 5. 息 2011 Market Insights Source: 2010.Census.gov 2010 Census Data
- 6. 息 2011 Market Insights psychographics demographics competition product usage & demand
- 7. 息 2011 Market Insights Adapt accordingly. 2 Acknowledge the post-recession consumer mindset.
- 8. 息 2011 Market Insights Source: Mint.com How do Americans feel about the Recession? October 27, 2010
- 9. Its not enough that we do our best; sometimes we have to do whats required. - Winston Churchill
- 10. 息 2011 Market Insights Remember, youre a consumer too. 3 Find inspiration from outside financial services.
- 13. 息 2011 Market Insights Move to meet expectations. 4 Understand parity.
- 14. 息 2010 Market Insights Consumer Expectations are Growing Brands are barely keeping up with consumer expectations now. Every day consumers adopt and devour the latest technologies and innovations, and hunger for more. Smarter marketers will identify and capitalize on unmet expectations. Those brands that understand where the strongest expectations exist will be the brands that survive - and prosper. From: 10 Branding and Marketing Trends for 2010 By: Robert Passikoff, President of Brand Keys
- 15. 息 2011 Market Insights And what you dont want. 5 Know what you want.
- 16. 息 2011 Market Insights Throughout your institution. 6 Institutionalize & internalize the concept of marketing.
- 17. 息 2009 Market Insights In a recession, everyone should be in marketing. Rosabeth Moss Kanter The Change Master Blog , HarvardBusiness.org
- 18. 息 2011 Market Insights Pursue it aggressively. 7 Adopt a specific target market.
- 19. We are the bank/credit union for ___________. 息 2011 Market Insights
- 20. We are not the bank/credit union for ___________. 息 2011 Market Insights
- 21. 息 2011 Market Insights on a daily basis. 8 Focus on strategic differentiation.
- 22. 息 2011 Market Insights online & offline 9 Join the conversation
- 23. 息 2011 Market Insights things are different now 10 Let go of old ways, behaviors, and expectations
- 24. 10 Areas of Opportunity Recap Know your market Acknowledge the post-recession consumer mindset Find inspiration from outside financial services Understand parity Know what you want Institutionalize & internalize the concept of marketing Adopt a specific target market Focus on strategic differentiation Join the conversation Let go of old ways, behaviors, and expectations
- 25. Thank You Contact: Joe Sullivan [email_address] 800-348-0220 or 312-961-0188 Twitter: @mi_sullivan