Banking on Digital Growth
Banking on Digital Growth

Episode · 1 year ago

10) #InsideDigitalGrowth: Face-to-Face Communication in a Socially-Distant Digital Age


It’s well past time to merge digital and human experiences.

I’ve been saying it for years, but social distancing proved it. 

It proved how, too. Face-to-face interactions through video. 

On the latest episode of Banking on Digital Growth, I cover why face-to-face interaction, even remotely, is more important now than ever. 

Things are starting to open up. But it will be some time before the world returns to normal. 

And some things, like video communication, never will. 

In today’s episode, I explain:

-Why our new video habits are here to stay

-Why you need to adapt to the new societal norms

-5 ways you can start using video today

Check out these financial brands we mentioned in today’s episode who are nailing video communication:

-Louisana Federal Credit Union

-Citizens Bank of Edmond

-Canvass Credit Union

You can find this interview, and many more, by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.

Michelle Askd, what is the best way forour marketing in sales teams to communicate with our countholders,along with people in our communities, because even things are starting toopen back up again we're not seeing them as much as we used to before theCovan nineteen crisis. That's a great question Michelle and one that I'llanswer for you onto day's episode of banking on Digital Growth, youwere listening to banking, ondigital growth, with James Robert Lay a podcast that empowers financial brandmarketing sales and leadership teams to maximize their digital growth potentialby generating ten times more loans and deposits. Today's episode is part ofthe inside digital growth series, where James Robert shares answers to some ofthe biggest digital marketing and sales questions he gets from. The digitalgrowth community visit ask Jr, dot digital growth dcom to submit aquestion you want to get answers to on a future episode. Now, let's go insidedigital growth. Greetings in hello. I am James RobertLay, and welcome to the tenth episode of the banking on Digital Browthpodcast. Today's episode is part of the inside digit growth series and I'll beanswering a question from Michelle, who is a VP of marketing for a financialbrand in the south. Michelle asked what is the best way for our marketing. Ancells seems to communicate with our countholders, along with people in ourcommunities, because, even though things are opening back up again, we'renot seeing them as much as we used to before the coven nineteen crisis. Thanks for the question Michele- and Iassume that by what you mean Michele, even though things are starting to openback up again, you're, not seeing them come back intothe branch like you saw before the Cov nineteen crisis. So this is a reallygood question and one that I've been spending a lot of time, answering fourfinancial brands in our digital growth programs over the past few months,since this crisis began because communication communication, bothinternally and externally, is core to how your financial brand is perceivedby others. And I'd like to take your question Michelle and add a bit more toit, because I wane to add an additional aior. What is the best way tocommunicate courage and confidence not only with accountholders, but also withinternal teams and the people in the communities you serve at large? That'sthe key here. It's communicating courage and confidence, which are bothattributes and characteristics that I talk about in detailed an episodenumber four titled Coveatt Nineteen had to move forrd with courage andconfidence because, as I talk about in that episode, courage just like thisvirus is contagious and, as I talk about an episode number, seven courageand confidence are keys to help someone break free from the circle of CAS thatso many people are stuck in right now. So how can your financial brandcommunicate courage and confidence when you're not able to see people face toface like you might have been before? And the answer is simple: It's video, let's dive deeper into this and focuson two key areas for the rest of the conversation number one. Why video is more important now thanbefore, in this postcove at nineteen world, for not only marketing teams ata financial brand, but also sells teams, as well as leadership teams and thenumber two how you can communicate courage and confidence with videothere's some very practical examples...

...that I'll talk through for you. So,let's get started. Why is video more important now than ever before in thispost cove nineteen world? The answer, video humanizes, your financial brands,digital experience and as I've predicted from the verybeginning of this crisis, the one that we're all trying to navigate throughright now, I was predicting that we would see this unfold over an eighteento twenty four months period, and it did it mean that we were all going tonecessarily be stuck in our homes for eighteen to twenty four months. It justmeant that we would be dealing with this psychologically emotionallyeconomically in all of these different levels of life and as communities are starting to openback up. I do predict that some will get lockedback down again if the virus flares back up in the fall in the winter. Asmany are predicting and what does that mean, it means we'll be back to ahighly remote environment that we were in before and some who are still in asof now so the time to get comfortable usingvideo to communicate, courage and confidence with accountholders, alongwith people in the community to serve as well as team members is right now, as I write about in my book baking ondigital growth. That's now available an Amazon digital growth is not about technology.It's about how we used technology to bring two human beings together forgood and I've been recommending this type of remote communication strategyfor at least the past two to three years, not just for financial brandmarketing teams, but also for financial brand cells teams as video bridges, theDX, the digital experience and the human experience or the Ajex with faceto face communication. Remote video platforms, like zoom, for example, helpto further increase an empathetic communication strategy, and this is atopic that I discussed in detailed once again. An episode number seven remember. Ninety three percent ofcommunication is non verbal and if we break this down even further out ofthat ninety three percent of communication, fifty five percent ofthat nonvertiable communication is body language and then the other thirty.Eight percent of that communication is vocal, tonality, so put inother way.Seven percent of communication is the actual words that we speak and having face to face communication,even if it is remotely, is more important during these times ofchaos of confusion of crisis, because people are looking for clarity, they're,looking for calm, they're, looking for help and they're looking for hope.Furthermore, where videocommunication was traditionally used for business andpersonal personallvia platforms like face time and whatsup, video communication has become evengreater from a societal norm at the maccro level because of covet, and it'sreally helping to shape and form new habits and new behaviors. So, forexample, students are using video communication to connect with teachersand peers. I think about how quickly all of my kids were able to get back upand running with school using videocommunication. My Two oldests, whoare still in elementary, have scheduled zoom calls multiple times a day, whilemy two youngest are watching you two videos that their kindergarten teachersare producing and uploading...

...on the healthcare side of things.Remote medicine has become the norm as people don't want to venture out and goto the doctor for fear of catching the virus. Even fitness in health clubs gyms havemoved to a remote delivery of classes through online video and because of all these shifts inhuman behavior, where video is becoming more ne, more normalized and moreaccepted more adopted. From a from a channel of communication, I see atremendous opportunity for financial brands to increase human connectionsand create expinential value by furthering deepen deepening humanrelationships with a couple of different audiences number. Oneinternal teams that are working remote just because we're opening back up insome cities and some states and some countries doesn't necessarily mean thateveryone is going to be flocking back into the office. Jack Dorsy WHO's. The CEOF twitter hasbeen making some news as of recently that he is stating all of his teammember can be remote indefinitely. So we're going to see a transformation ofwork as a result of this crisis and if we'retransforming the way that we work, we must transform the way that wecommunicate with other team members. Another transformation that we'reseeing is is from the consumer. accountholders customers, members whoare not able to or don't want to visit a branch location once again, justbecause we're opening back up does it mean everyone wants to comeback in and conduct business face to face in the branch yet along the drivethrough why new habits have been formed because of a increase in adoption ofmobile banking, particularly at an older age. Demographic. Those who werenot used to using mobile banking before have now become accustomed to it overthe past a few months, and then we have small business ownerswho have been forced to shut down and they're struggling to survive, even asthings are opening back up in the communities that we serve. So we haveall these different players. Internal teams or cowtholders small business andreally the community at large as we're all working through this time of chaos,crisis and disruption together. So now that we've established a foundation ofwhy video is more important now than before in a postcove nineteen world, Ilike to share five very practical examples. You canuse to apply this thinking at your own financial brand, working from theinside out its a number one, there's anopportunity for your financial brand to use video communication to conductdaily Standup or hoddle meetings, typically fifteen to thirty minutes Maxwith a small group of team members working remotely and the goal of thesedaily hobdle meetings is to help get out of digital communication like emaillike chat like slackwhere. Sometimes things can get lost in translationwhile at the same time working to maintain some type of human connection,as you want to limit the negative impact of isolation, whenrewhen workingremotely. No. On the flipside of this I do understand there are some who arestarting to fill some zoom fatigue and it's a very psychologicallyunderstandable. But I'm wondering,... it an expectation that we put onourselves of how we should come into these zoomconversations to prepare the space to be quote? UNQUOTE: Camera Ready, or is it just working to transform ourbehaviors in a new type of communication environment? And it'slike anything whenever you started exercise routine, a new exercise,routine, there's gon to be some pain in the early days. So this is somethingthat I'm thinking through a little bit more, that I don't have a definitiveanswer for you just yet, but I will most likely address on a future pot.Gass 'cause. I do believe there are some psychological implications toconsider here, particularly at the team level, so coming back to theopportunities of using video with teams once again keeping everyone unified onthe same page celebrating winds and the progress that we continue to make to tokeep Morel high and the best way to look at kicking off these stand. Youknow these stand up meetings and these huddle meetings is to commit to apply aprocess that we teach here at the digital growth institute, called W B Gor what's been good, and you do that by simply asking team members. What wasthe best thing about your day yesterday or you might start off? What are youmost excited about today or what are you looking for to tomorrow? As youwrap up the meeting, and by doing so it really focuses the conversation on morethan just the task at hand work, but it allows someone to dig into what's goingon good in their life because, particularly in times of stress, ind,chaos and confusion like this in crisis. It's very easy for the mind to go downthe dark, rabbit hole then get stuck in the cycleand the circle of chaos of Ne Negativity. But when you focus on- andyou begin a conversation and even a meeting with just a positive statementfrom everyone involved- and this should take no more than thirty seconds to aminute per person- it elevates the conversation. It elevates the room,even if that room is remote, because the mind can only focus on either apositive feeling and emotion or a negative feeling and emotion. Technology has transformed our world,and digital has changed the way consumers shop for and by financialservices forever. Now consumers make purchased decisions long before theywalk into a branch if they walk into a branch at all, but your financial brandstill wants to grow loans and deposits. We get it. Digital growth can feelconfusing, frustrating and overwhelming for any financial brand marketing andsales leader, but it doesn't have to because James Robert wrote the bookthat guides you every Sep of the way along your digital growth journey visit,www d, digital growth, docom to get a preview of banking on digital growth.It is a strategic marketing manifesto that was written to save financialbrands and it is packed full of practical amprovent insights. You canuse to confidently generate ten times more loans and deposits now back to theshow. So, moving on the practical pointnumber two on how you can use video to communicate, courage and confidence is to add a schedule. A video meeting secondarycalled action on your financial brands website, product pages and here's why this is important, even though things are starting toreopen in certain areas. Cities States...

...countries around the world. Once again,I'm I'm projecting that we'll see some seasonal community to lock downs on andoff over the next eighteen to twenty four months so take time to bridge ofthe long term DX once again, the digital experienceand the ax, the human experience divide for accountholders and prospects byadding a quick and easy way for them to get in touch with someone at yourfinancial brand that can help guide them remotely, but still face to face.This might be for a prospect, a lead, someone who's interested in making adeposit or applying for a loan opening the COU. It also might be for a currentaccountholder who has questions about their personal financial situation orneeds some additional assistance and guidance with a mobile AP. There's alot of ways to apply this thinking by adding a seconddary called action thatis simply schedule. A video meeting and one of the financial brands that we'veguided along their own digital growth journey has already applied thisthinking. I recommend taking a look at Texas tech, FCU and their website,which will link up in the shownotes and you'll, find they are positioning,theyr C ou, now videoap very well in the top nap bar of their website.Furthermore, upquabank WHO's on the west coast of the United States hasalso had some early success with their go to banking platform and expanding onthis idea. A little bit further. Let's take a moment to unpack practical pointnumber three here, because in addition to adding a schedule, a video meetingsecondary called action on year financial brand website. I alsorecommend you invite current accountholders to schedule a remotevideo review, those who are looking to get some additional help, some hope,even but they've, just not gained the courage yet to raise their hand inepisode number six and an episode of number seven. I go deep on the subjectof financial. Shame F of money, shame and the psychological toll that thistakes on a person's financial health, their physical health and their mental.Well, being so, taking a proactive stance to do out reach to meet withsomeone in a judgment, freelike zone, video and remote communication is, is agreat way to do this and here's some practical tips to to think aboutapplying step number one send out an email to all youraccountholders and and- and you might want to do some segmentation aroundconsumers and businesses, and I I'm doing some additional thinking aroundthis based upon the advisory work that we've been shaing with other financialbrands, but when you send out an email to accountholder a EW segment,businesses, consumers, let them know that you're simply thereto help, but also just as important, if not moreimportant, that you're there to justsimply listen to their questions, to hear their concerns 'cause a lot oftimes. That's what people just want! They just want to be heard. They wantan ear that they can talk to step number two wrap this email up inan empathetic tone of hope. That's framed around your financial brand'sposition and commitment to contantly provide someone with clarity with esense of calm. During this time of confusion, chaos and crisis step number three, the primary called a action for thisemail should should be something like we're here to guide you through thecoming weeks and months schedule a remote video review with one of ourexperts to talk through your unique situation and once again, when we talkabout financial expertise, umcalled... on the West Coast does a great jobpositioning around this type of expertise and finally, step number. Four. Withthis video review out, reach is link the email called action to a landingpage that reinforces the empathetic tone that you've already set in theemail, with the meeting request form that gives them the ability to to picka time to pick a date and maybe even a person that they're already familiarcomfortable working with to schedule this remote financial review andplatforms like cub, spotcels, Callcallaly time trade. All of thesecan connect your team members calendars, along withthe video platforms like zoom, for a streamline booking process thatsimplifies the entire experience through automation and even some Ai. Sothese meeting request leaves that come in on this landing page. Well, then,filter to the applicable internal leaders. It might be a digital calesteam, it might be branch managers, it might be Loen officers, it might becost interupts for them to then follow up and ultimately, conduct facilitatethis one on one remote financial review meeting. We can even build upon thisthis insight in this perspective. Further, as we move on to practicalpoint number four and and let's dig into how you can conduct these one andone remote financial reviews- Well Call Them Video coaching calls with thecountholders and prospects because, as a re reference in episode, numer, sevenand the strategy of epison number seven in today's world of confusion of Chaosof conflict, financial coaching that is delivered remotely via video is exactlywhat can help calm the nerves of accountholders. As your financial coach, your financialbrand, your financial coach works to reduce the fears and anxieties for people in the communities that youserve for your accountholders and for small business. There is no better timethan now to consider starting a pilot financial coaching program, as youinvite a select number of countholders to register once againn. This is apilot program. This is proof of concept. In return for scheduling one of thesefinancial reviews, they will receive some type of afinancial blueprint that has recommendations framed around theirunique situation, but these recommendations or delivered via sometype of remote video meeting platform like Zoom and looking further aheadtowards the future. There's an opportunity here to build a financialcoaching team, not just a person, but a team and esteem now has the potentialto generate additional non interestfee income, which I I see is such atremendous opportunity, a t. The profitability models that we've allbeen accustomed to are continuously getting disrupted, not only because ofcolid but because of of the competitive landscape. But that's that the goalhere when we're looking at this type of pilot program. Ninety days, a hundredand eighty days, the goal is simply to provide accountholders with help andhope during this time of chaos of confusion and of crisis. So so far, we've discussed fourpractical points of how your financial brand marketing team cells, teamleadership team can all use video...

...communication to communicate, courageand confidence both to internal team members, accountholders small businessand then just people in the communities that you serve at large. I'd like togive you one more we'll call this. The Fifth Element, I'd like to give you afit practical point to consider as there's an opportunity for you to usevideo for a broader reach, to connect with and build relationships in thecommunity that you serve in addition to just your accountholders. Now, thistype of recommendation works for both sides of the equation beingaccountholders in an communities, but here I recommend hosting weekly or byweekly digital town hall or Firside Chat Style meetings, where yourfinancial brand will field frequently ask questions that you've received fromyour call center or through your website, along with sharing stories ofhope and optimism base upon the work. You are doing to help others. Onceagain, this type of communication would be delivered through video, but this isnot a medium to sell. Instead, it's a medium and a channel to communicatecourage and confidence, while also extending help and hope to others. Now,one of the financial brands that we've been guiding has already started toapply Thi thinking over the past few weeks and I'm so proud of thim. I wantyou to take a look at the video section of Louisiana fcus facebook page, which,once again W wi'll link up in the shownotes and you'll find videosfeaturing their CEO and other team members who have taken time to answerquestions dering their weakly facebook live streams and their delivery hascontinued to improve a week over week, as views have been ranging from eigh nine hundred to over two thousandviews per episode in a disth in each one of these episodes is receivingthirty to fifty different comments per video. Two other great examples to lookat using videocommunication to communicatewith a community at large is Jilkastia and Citizens Bank of Edmond in Oklahoma,along with todd and Tansley, who have been using video at Canvas Credit Unionto communicate courage and confidence during this time and will also get thelinks to these utwu pages linked up in the show nts as well. Caus t just ttheir valuable resources aforyou to explore and investigate further.Finally, as you build up your own video platform, I see a tremendousopportunity to begin to build a sense of digitalcommunity with the physical community. Your financial brand serves as you useyour own video platform to bring on external guests and to help promotelocal businesses so, for example, think about the local restaurant owner, whoyou can invite to your to your weekly facebook live stream that can talk toyour accountholders, your face book fans and just people in the communitiesthat you serve on how to make a meal each week. So each week you couldrotate restaurant owners and they could then help walk someone through a weeklymill prep. This is an idea that set sigl gardener and I explored an episode.Number eight Aset is a sheft and he shares some really good insights abouthow financial brands can help the restaurant and services industry thathave been impacted by cobed the hardest. Furthermore, what Yo think about thelocal bartenders, just like those running restaurants, local bartenders,can also come on and do some type of a Friday happy half hour and show youraccountholders how they can make a weekend craft cocktal,...

...and then there are all the localfitness instructors that have transformed their business models for D,digital delivery of classes, who could do some type of a weekly workoutroutine for your accountholders and and when you think about like food finances and fitness. It's the perfectcomplimentary content, because, as I talk about over and over again, there'ssuch a strong correlation between a person's financial whell being andthey're physical well being so. These examples alone mix with your own weeklytown hall content, provides so many different ways. You could use video tocreate value four to five days per week and I'm Gong to be very, very clear.It's GOINGTO take some time it's going to take some planning to pull this off,but with a little practice and some patience along with committing toprogress. TNOT perfection a'm, confident that your financial brand hasthe potential to use video to communicate, courage and confidence ina number of ways that we've already already discussed today. So as we wrapthings up, do you have a question that you'd liketo get answers to, like Michelle, want to invite you to hop over to ask JRDDIGITAL Growth Com to submit your question? Yo have a chance to getanswered on a future pod, gast episode. ND, remember. The only bad question isthe question that goes unasked, so I look forward to hearing from you untilnext time be well, do good and wash your hands. Thank you for. Listening to anotherepisode of banking on Digital Growth, with James Robert Lay likewhy, you heartell a friend about the podcast and leave us a review on Itunes, stitcheror spotify, and subscribe, while you're there to get even more practical,improvent insights that can guide you and your financial brand along yourdigital growth journey visit, www dot, digital growth, docom to get a previewof James Roberts coming book, banking on Digital Growth, a strategicmarketing manifesto to save financial brands inside you'll find a strategicblueprint framed her on twelve key areas of focus that empower you toconfidently generate ten times more loans and deposits. Until next time bewell and do good.

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