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My good friend Doug True has a great post that summarized a busy week of blog-o-sphere discussion on the ultimate erosion of credit union loyalty and how we quickly get it back. There’s talk of yet another National Brand Campaign while others believe that you must have a blog to survive.
I found it. I know how to grow your credit union.
Unfortunately, she’s retiring. Her name is Jeanine Miller. She’s worked for Members Credit Union since 1963 and she’s the head teller.
Two things struck me while reading this article.
1. Can you imagine any bank ever having this kind of press?
2. It made the news because it’s so unusual.
Most CEOs will agree with me - the brand is their experience and the front-line employees have more control over the credit union’s reputation than anyone in senior management. BUT, we don’t do anything about it. Few of us measure the value that Jeanine Miller brings to the bottom-line in the form of referrals and repeat business. The teller position continues to be at the bottom of the organizational chart and pay structure.
We’ll spend more money begging for business through membership bribes then we will on paying these unsung heroes and trying to retain them.
You want to grow? Pay attention to your tellers.
THIS JUST IN: A videoof Jeanine’s last day - thanks NC Credit Union League
I was in Oshkosh, Wisconsin this week. I ate cheese, had dinner at a Supper Club, learned about sturgeon spearing, hand warmers, that your car windows can actually freeze shut (found that out at a drive-thru) and dontcha know, I got to visit Mills Fleet Farm (aka the Man’s Mall).
It smells (like tires) when you walk in. The lighting is harsh, the floors are concrete. You’re probably thinking, like Costco, right? Sort of……but the target audience is vastly different. They target farmers and hunters and fishermen. Truck driving, cap wearing, facial hair sporting, Packers loving dudes. Picture an entire aisle of flannel shirts. A fishing rod selection that could make the Guinness Book of World Records. There were huge bags of stuff that had something to do with cows. I didn’t ask.
I am not their target audience. But I did buy their shirt. It had a picture of a tractor on the front with “Mills Fleet Farm” above and below……the best tag line ever:
“If we don’t sell it. You don’t need it.”
Starbucks announced today that they will begin serving french fries and hamburgers at their 15,000 locations beginning this year in an effort to compete with McDonald’s.
Oh wait - I have that wrong.
McDonald’s announced yesterday they are going to add coffee shops to their 15,000 American locations in an effort to compete with Starbucks.
Now that makes more sense.
The first time I ever went skiing I was in high school. That was a few years ago. My boyfriend was on a racing team, so naturally I had to learn to ski. But I digress….on our way up to the mountain (about a 50 mile drive from Portland) he told me that we HAD to stop at Joe’s Donut Shop. It was a weird red and white painted cinder block hole-in-the-wall. The aroma inside the shop makes your knees weak. What is it about fried dough with sugar? Nobody does it better than Joe. I looked forward to our weekly treks up the mountain after that. Not for the skiing (truth be told - I sucked) but for the chance to try another of Joe’s creations.
Last night I had the NW Cable news on. And there it was! Joe’s Donuts! Still going strong and having a banner year because of all the snow on Mt. Hood.
Modern marketing = Word-of-mouth. You can’t beg for business anymore - now you have to earn it. And Joe does. Every day. For YEARS he’s been doing one thing and doing it well. Making donuts.
As far as I know, Joe has no marketing budget. He doesn’t advertise on TV, the radio or newspaper. He doesn’t rubber band flyers to your door knob. He doesn’t call your house or fill your mailbox with direct mail.
Instead, people are marketing FOR Joe. I googled Joe and found several pages of hits. From as far away as Bangkok and on a page called Real Good Food.
That’s some good modern marketing. Way to go Joe!
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