Banking on Digital Growth
Banking on Digital Growth

Episode · 1 year ago

12) #ByTheBook: The Humanity of Digital Growth

ABOUT THIS EPISODE

The most important element of digital growth is not technology. 

It’s not sales.

It’s not marketing. 

In fact, it’s something ancient. Something that’s missing in almost every conversation that happens in every boardroom across the country. 

Humanity. 

I’ve talked before about how you can generate 10X more loans & deposits.

But 10x growth is only made possible through 10X thinking. 

And any digital growth strategy that doesn’t place human connection at its heart is at best only half of a strategy. 

I’m James Robert Lay, CEO of Digital Growth Institute and author of Banking on Digital Growth

What I talk about:
-Why only 15-20% of financial brands are “Digital Haves” 

-The secret to digital growth that is missing from most conversations

-How to take your marketing team from underestimate to invaluable

-Why digital growth is about so much more than marketing and sales technology

This episode is hosted by James Robert Lay  Founder and CEO at Digital Growth Institute

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

You're listening to banking, on digitalgrowth, with James Robert Lay a podcast that empowers financial brand marketingsales and leadership teams to maximize their digital growth potential bygenerating ten times more loans and deposits. Today's episode is part ofthe by the book series where James Robert on locks and shares the secretsof Digital Marketing and sale strategies for financial brands fromhis upcoming book banking, on Digital Growth, a strategic marketing manifestoto save financial brands. Let's get into the show, greetings in Hello, I am James RobertLay, and welcome to the twelfth episode of the banking on digitlal growthbodcast. Today's episode is part of the by the book series, where I shareinsights from my book: Banking, on Digital Growth, the strategic marketingmanifesto to transform financial brands, which is now available on Amazon, anepisode number nine. I ask three key questions for you to think about a D.consider number one: Do you feel like you might be stuck inthe circle of chaos, and it might not be you it might be others on yourmarketing team or on your cells team. Maybe they're on your leadership teamfeeling stuck in the circle of chaos, where y? U A lool, confused, you'refrustrated and you're overwhelmed about digital growth. Question number two was: how might thefour fears beholding you or someone? You know back from maximizing yourfinancial brands, future growth potential and once again, in briefsummary, the four fears or fear of the unknown fear of change, fear of failureand far success. These are the fears that I hear time and time again whenworking with different financial brands and their marketing sells andleadership teams, and the number three...

...is: what's your plan: What's your plan to move forward withcourage and confidence to generate ten times more loans in deposits? Reallynow in this post, Covan nigneteen world once again, there's that that phraseten times ten times more loans and deposits, but Whitin Times, is that even possible is? Is it justhype? Well, let's dig in a bit further to get to the truth, because ten timesgrowth is only the direct result of Tin Timesthinking, but here's the problem. It does not make matters any easier, articularly that financial brandmarketing teams up to this point, and I'm speaking generally here, theiregreatly misunderstood and theyre greatly undervalued. Now this comes through our own goingresearch, as well as the direct work we do with financial brands and theirmarketing teams, because I hear time and time again from financial brandmarking team members that they feel they're, typically viewed by others attheir organization as nothing more than cocenters or worse, and this has been shared withme Moltil Times, marketing is viewed by others asnothing more than we're, just kids that play with paint and creons all day long or another way to look at this is well. Marketing is just a glorifiedinhouse, fhedix cancos and our job is to exist to take the orders and servethe last minute needs of others. So I have another question for you:...

...what if this negative image ofmarketing at financial brands? Maybe it's your financial brand? What if thisnegative image was turned on its head? What if your marketing team stopped feeling like overwhelmed andfrustrated order? Takers? What if you stoppe feeling like a frustrated andoverwhelmed order taker if you are working in marketing and instead becamethe strategic growth leader within your financial brand, must speak outside of marketing. Now?What if, instead of taking marketing for granted financial brand cells and leadershipteams, saw marketing as the trusted vehicle to drive your financial brandtowards future growth in this post coba nineteen world? What if, instead of being viewed as anecessary evil, ory cosenter marketing, finally proved its value by generating ten times more loans indeposits? Now I am not exaggerating when I sayten times, growth is totally doable. There's a lot of people out there whotalk a lot of mess, and they say ten times this ten times that it's important for people to understand. I've seen this I've seen this level ofgrowth first hand over and over and over again for different financialbrands that deploy the thinking we teach here at the Digital GrowthInstitute. In fact, I've seen financial brands experience fifteen times,digital growth, and that's why I wrote the book bankingon Digital Growth, not just to save financial brands fromextinction, which is a reality that he's that iseven more real postcoven nineteen, but...

...to transform financial brands, becauseI just don't want financial brands to survive. I want them to thrive and the way to do this is through ten times thinking. Once again, as I stated before, if you wanted ten times your growth ten times, growth is only the directresult of ten times thinking as Dan Sullivan a stratetic coachshares. Anyone any one of us has the potential to tox something make.Something twice is good. We all can work a little bit harder. We can throwmore dollars in a problem, but if you want exponential digital growth, whichis wh, what is really needed for financial brands today in this postcove,an nineteen world you're going to need to transform yourentire way of thinking and TNAT. Just you your entire way of thinking yourteam's entire way of thinking your organization's entire way of thinking,you're marketing, your cells models and all the habits that go with it. But howare you going to do this? I invite you to use the digital growthblueprint. It's what I mpack for you in the book.Banking on digital growth. Technology has transformed our world,and digital has changed the way consumers shot 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 step of the way...

...along your digital growts 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 tothe show, dthe digital grow, Ithe, blue print andan a strategic marketing manifesto that I put forward in the Book Is Broken Up: Anto twelve key areas, an each one ofthese areas, builds upon the other, but here's the secret, the different areas that make up the digital growthblueprint or also independent. In other words, even if you just focus on andcommit to one of these different areas, this effort alone can empower you andyour financial brand to make marketing even better. Now, if you focus on all of thedifferent areas within the book, you transform your entire organizationto truly maximize your future digital growth potential. Here's the problem,though, unfortunately the majority of banks and credit unionsthat we've studied and that we've worked with, are nowhere close to thiswhen they begin their digital groath journey throughout year over yourresearch, we continue to find an ever growing digital divide. It really follows the Pareto principleor the eighty twenty role, with the minority being fifteen to twentypercent of financial brands. Those are becoming the digital haves and a lot ofthose are digital, first players or mobile first players, while themajority...

...eit o eighty five percent of banks andcredit unions or the digital have nuts, those thathave built their entire business model around the physical world of branchesand broadcast and they're struggling to transform themselves their thinking,their behaviors, their action for digital growth. So why are the eighty percent having somuch trouble? Digital growth requires so much more than just adopting thelatest and greatest marketing in cells, tech. In fact, one of the mostimportant elements of digital growth is something that is ancient it'stimeless, but many times at the executive table and at the Board ofTable. It's left out altogether, because those conversations therefocusd primarily on the technology and technology, is thot bad, but the secret here is humanity. It's people we are not robots well, not yet anyway, and people stilltrust people far more than they do financial brandsthere's something about connecting with another human being. That makes peoplefeel good and it's important for you and your team because of the nature of financialservices, is inherently complex. Now in this postcoveat nineteen world, the human connection primarily happenonline. First, if not only, and that could be throughchat could be through email. It might even be something through like facetime or zoom or we'll see how things play out, butit still has the potential two bee face to face in the real world flesh andblood. What matters here isn't the channel ofconnection,...

...but the connection of humanity branches might not be disappearingentirely. KN, like I said before, we're not robots, yet branches might not bedisappearing entirely yet, but theyare no longer the transactional centers fordeposits for transfers for payments for the like that they were in the pastwhere people used to come and that's where webuild the relationship face toface intoday's digitaly economy, I predict branches, will be Centers forFinancial, coaching guidance, accountability, physical places for you to provide deep level in person,expertise which all will support a digital first growthmodel. Once again, this is Lak postcoved nineteen world and I'm starting to to do a lot ofthinking of how financial brands can develop digital first coaching programs tosupport digital first marketing efforts, again, consumers. This is reallyspeaking about marking. Consumers do not want to hear you talk aboutbragabout your commodities rates, your amazing service, your laundry list oflook like product features, but instead they want you to meet themwhere they are on their own journey of life, and this is one of the greatestopportunities for your financial brand to use the digital growth blueprintthat that I write about in the book that I give to you in the book to define a purpose, a purpose that transcends dollars andcents and then through marketing, through cells, communicate and fulfillthat person and that purpose...

...with digital grows strategies that dothree things they educate. They empower and theyelevate consumers beyond their financial stress, provide people withhelpful content and positive experiences that guide them towards abigger, better brighter future, and so, as we continue the conversations that I'll share inthe insights that I'll share in the series by the book, then it began to unpack the strategic marketing manifesto thatI ride about, and I'm going to show you exactly how you can apply this thinkingat your own financial brand. By doing three things, the very first thing thatyou're going to do is you're going to establish a strong foundation fordigital growth and what you have that foundation inplace. You can then begin to build the digital growth engine and is digitalgrowth. Engine will drive your new digital first mobile, first strategicmarketing and cells model and finally, you'll maximize your digital growthpotential to generate ten times more loans in deposits, as he began to drive traffic into thatengine through the production and promotion of content of helpful contentof content that provides hope of contet that guides people. Digital growth is a journey. It is ajourney from good to great. It is a journey that begins in the mind in marketing cells. Leadership teams atfinancial brands must first transform their thinking, because then only thencan they transform themselves, transform their teams, transform theirorganizations and transformed the lives...

...of people within the communities thatwe all serve. But this doesn't happen overnight. It's like running a marathon,it all starts with proper training and planning. Then, once you're offen running, youhave to be open to changing conditions of environmental conditions like kindolike covet, because theenvironment is unpredictable, the competition is unpredictable and you won't get there right away. But if you follow the framework, themanifesto the blueprint that I share in the book you'll begin to see progressalmost immediately. I encourage you, do not get distractedor lose hope when you want to fall back on old patterns and behaviors that fillsave, keep your eyes focussed on creating a bigger, better and brighterfuture for yourself, R yourteen for your financial brand andthe peoples in the communities that you serve forget about perfection, focus onprogress and focus on the progress that you make day after day week after week,month after month, year after year, before long, you and your team willgain new found clarity. You will build your own courage and commitment andyour confidence will grow. Not only will you establish new digitalmarketing and cell systems through technologies and new habits, but youll also let go of the past of the limeting mindsets, the oldstrategies and the negative behaviors that have been holding you back for solong, ultimately, breaking free from legacy. Marketing and cell systemsthat were built around branches and broadcast you'll get to an exciting future ofexponential digital growth...

...so enjoy the journey. But remember it'sa Marathi, it's not a sprint and here's the good news. You do not have to runthis race alone, because I am here to guide you every step of the way, sountil next time be well, do good and wash your hands. Thank you for listening to anotherepisode of banking on digital growth with James Robert Lay like what youhear tell a friend about the podcast and leave us a review on Itunes,stitcher or spotify, and subscribe, while you're there to get even morepractical, andprovent insights that can guide you and your financial brandalong your digital growth journey visit, www dot, digital growth, docom to get apreview of James Roberts upcoming 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 thocus. That empower you toconfidently generate ten times more n loans and deposits. Until next time bewell and do good.

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