Banking on Digital Growth
Banking on Digital Growth

Episode · 1 year ago

19) #InsideDigitalGrowth: The 4 Fears Stopping Your Team’s Digital Growth

ABOUT THIS EPISODE

You’ve seen the value of digital growth… 

But maybe your team hasn’t.

How can you convince them?

That’s the question I’m answering for Cynthia, a digital marketing manager from Wisconsin, in this episode of Inside Digital Growth.

In the episode, I explain:

-The four fears standing between your team and its digital transformation goals

-Why we keep doing things “the way they’ve always been done”

-Why digital growth requires personal digital boundaries

Check out these resources I mentioned during the podcast:

-www.goaskjr.com


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

Cynthia ask: How could I help others onmy team, see and understand the value of digitle growth, because there'squite a few people that I work with who are holding on to the past or the quote?Unquote the way we've always done it when it comes to marketing and cellsand they're struggling to let go well Cynthia. That's a great question andone that'll answer for you onto day's episode of banking on Digital Growth, 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 inside digital growth series, where James Robert Cheers answers to some ofthe biggest digital marketing and sales questions he gets from the digitalgrowth community have a question you want to get answers to on a futureepisode visit, www dot, go ask jr dtcom to submit your question today. Now,let's go inside digital growth greetings in hello. I am James RobertLay and welcome to the nineteenth episode of the Banking Undigal Oathpodcast. Today's episode is part of the inside digital growth series and I'llbe answering a question from Cynthia who is a digital marketing manager fora financial brand in Wisconsin Cynthia ask: How can I help others al my team,see and understand the value of digital growth, because there are quite a fewpeople I work with who are holding on to the past or the quotumquote. The waywe've always done it when it comes to marketing, andcells and they'restruggling to let go well. Thank you for the Great Question Cynthia, butbefore I answer your question, I want to invite you dear listener to open upyour browser type in www, dot, go ask...

Jr and let me know, what's on your mindright now, what question do you have? What question do you want answers to ona future podcast episode just like Cynthia and the questions that I'mgetting from listeners now that were almost twenty episodes into thepodcasts are getting really really good, and I appreciate the good questions forthree reasons: Number One. I don't believe there is ever a bad questionexcept the question that goes unasked. Never two. The questions I get arekeeping me on my toes and forcing me to clarify my thinking even further,around some of the biggest digital marketing and celf strategies that youguys want to know, and the number three everything that I do hear at theDigital Growth Institute, that my team does at the Digital Growth Institute isbecause we want to educate, enpower and elevate you and your financial brand tomove forward and make progress along your digital growth, juriny, so go wwwdot, go ask jr Com and ask me a question. So, let's get back to Cynthia'squestion and how she cund help others on her team, see and understand thevalue of digit growth help them. Let go of the past, help them move beyond the quote.UNQUOTE WAY: We've always done it when it comes to marketing andcells and movetowards a bigger, better brighter future. So without knowing more about yoursituation, Cynthia, I'm going to speak in a broad context here to really threetrins in patterns that I've identified through digital growth, diagnoticstudies that we've conducted for financial brands more specifically ofwhy people get stuck and hold on to the...

...past. In fact, many are not even aware thatthey're struggling with this challenge that they're struggling letting go ofthe past. These are good people. Some of them areon marketing teams, some are on cells and lending teams, some it someleadership, and I gess tat they're good people. They all want the best fortheir financial brand. They want to see it grow, but there are three things: Three trinsthree patterns that hold most of them back: that prevent them from movingforward keeping them stuck in the past. So for today's conversation, I'm Gongto call these three challenges. Future growth pitfals as they arereally pitfalls to progress, because progress is, is, in the end, all aboutcontinued growth. The first future growth pitfall, I see, is deeply rootedin just human nature. It's fear. In fact, there are four fears to beaware of to be mindfl of some are spoken to me openly by the teams thatwe're working with through diagnostic studies. Others are more whispered in secret,behind closed doors or now in secret, on zoom calls, and while some might even deny that they're struggling with one ofthese fears and the four fears of this I's, the fear of the unknown, the fear of change, the fear, failure and, yes, the fear of success. Now Ishould probably do an entire podcast around these four fears and and reallygo deeper into each one. But the...

...interesting thing that I want you tonote about each one of these fears is two points. Point number one fear is a chain reaction in the brainthat starts with some type of stressful stimulus and and think about all thechange that we have been experiencing in financial services and will continueto work through, as this industry travels through this postcoved world. It's because of this stressful stimulusbecause of this change, our body releases chemicals that increase ourheart rate, our breathing picks up, and what kicks in is that fighter flight response? We all know sowell now granted we might not have panicattacks when we think about all. We need to do when it comes to maximizingour digital transformation initiatives, but at one level or another, maybe evenat a microlevel, any type of change that werth thinking about making ortaking and our financial brand requires some type of risk, and it is that risk that activates our fight, our flightresponse, even if ever so slightly now we all know this industry isespecially prone to risk aversion and that's a really good thing. We aredealing with people's money. We should be responsible stewards of their money, but at what point does our riskaversion becomes? A liability becomes a cost, and the second pointthat I'd like for you to know when it comes to fear now, knowing fear as achain reaction that begins in the brain,...

...starting with some type of stressfulstimulus. In this case, the context of just change think about how many times your fears have never materialized. If fear begins in the mind, then fear can be controlled, managed and eliminated by the mind, as fear can be thought of as an acronym fe ar fear false evidence appearing real it's. For this reason, I keep comingback to the point that digital transformation is not about thetransformation of technology. Technology is just a tool andoftentimes in digital transformation projects. We put too much focus ontechnology and not enough consideration on the most volatile variable in thewhole experience of transformation of digital transformation and that'speople. This is why digital transformation forit to be a success must start in the mind. This is why I challenge you to also bemindful of that word that work change and how you use that word changeinternally, when you're speaking with your colleagues, your team, your peers,because when you ask someone to change, you do have the potential to activatethat fighter flight response in their brain, even at a micro level, becauseit is human nature to resist change. It is human nature to fear change. Wewould all much rather stay in our...

...comfortable caves of complacency whereit is safe. It is warm and we don't have to venture outside of the caveinto the dark unknown where the wild hungry beast Rome, just waiting todevour you take heart, have courage. That is why, today, I call you and for you to call those around you to come out of the Cave of complacencyand, let's traverse the digital transformation journey together. Thedigital growth journey together, as you must first transform yourself next, your team and then only then can you begin to transformyour entire organization, as your organization is made up of individualminds, tsmooth beyond the for fears andexplore future growth pitfall number two, which is the fact that manyfinancial brand marketing cells and leadership teams are stuck doingthey're operating on a autopilot and because they are operating on autopilot they're overwhelmed barely keeping their head above waterand a sea of post coved chaos and confusion, in other words, they're, just drowning and they're.Looking for a Lifeli, this idea of remote work that we've allexperienced now over the last six seven months- that's not helpingeither and it's I don't see it really going away. I don't see us necessarily going backto what life was workwise precovet, our personal and work lives have becomeeven more blended than ever before. You...

See, Pto Post coved should no longer beknown as personal time off, but instead it sh LD should betransformed to please take time off. Please take off, and I'm I'mreally being serious about this, because if we find ourselves operating anautopilot heads down stuck in a continuous mode of doing where a liability once again, where area cost and we as leaders, must put our oxygen mask on first, which, by the way,there's a great book written by that title from Kevin Lawrence, and thisidea of putting your oxygen mask on first is why post covet? I have beenmuch more intentional about taking time off. I calld these days meedays and it'ssomething that I learnd from Dan Sullivan, who calls them free days, and these meet Ays are when we asmarketing and sells leaders get to step away from work. I means noemail, no businessbooks, no journals from midnight to midnight a wholehealthy, twenty four hours, and whenever I learned this from DanSullivan it it it, I'm not GONTA. It transformed my personal life, it transformd myprofessional life, because when we step away from work with no email, nobusiness books, the business journals we get to truly rest our minds because once again, we must remember ifdigital transformation- it's not about technology, if digital transformationbegins in the mind and if our minds are...

...tired and burned out, our transformation initiatives willfeel like a struggle, if not an impossible feat to achieve andultimately realize- and that brings us to future growth. pitfall. Number three distraction. Distraction is deadly becausetransformation requires clarity, transformation requires focus, and I itis an distraction of technology. The tools that are actually supposed tohelp us transform digitally. That might be the reason we end up slowing down. Getting stuck no longer making anyprogress or growth, the paradox, and so my question for youto think about is this: Are you the master of technnology or his technology become? The master ofyou? Technology has transformed our world,and digital has changed the way consumers shot for and buy financialservices forever. Now consumers make purchase 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 ansales leader, but it doesn't have to because James Robert wrote the bookthat guides you every step of the way along your digital growth journey visit,www, dot, digital growth docom to get a preview of his best selling bookbanking on digital growth, or order a copy right now for you, and your teamfrom Amazon inside you'll find a strategic marketing manifesto that waswritten to transform financial brands and it is packed full of practicalandprovent insights. You can start...

...using today to confidently generate tentimes more loans and deposits. Now, back to the show, just for a moment, I want Tou to thinkabout yourself and your daily habits. Are you a slave to your n box? Howquickly do you reply your email and on the flopside of that? How quickly are you expected to replyback to an email by your team members by your executive team by yourleadership team? How many times a day? Are you beingdistracted by what I call a digital ding, an s, amss message, a socialmedia notification, even a phone call? This is why I've done two simple thingsto eliminate as much distraction as possible, and you can do these twothings, because distraction destroys transformation. Number One. I removedall distractions from my phone. I took off my internet browser. I removed allmy social mediaps and during the day when I need to do deep work, which sanother great book by the way and really focus. I turn on my do notdisturb number two. I installed a nap in my email called inbox paws. Thatlets me work in my inbox without having to worry about getting new emails,while I'm in there, which leads to digital distraction, alosofocus anreally a loss of time so for us to succeed and achieve digitaltransformation, our digital transformation goals. We must getreally good at creating strong digital boundaries with ourselves, with ourteams, our friends and yes, even our families. You can also take this thinking evenfurther up to level up your MEA days, which I've transformed now andto, notonly just me days, but what I'm calling digital dtox days to step away from allthe technology, no text, TNO social...

...media, nothing from midnight to midnight. NowI understand that this sounds a bit extreme, but once again, when we'redrowning to come back to point number, two weredrowning and overwhelm and we're distracted our minds, the rute source of the digitaltransformation that we are all working towards. We will struggle and if theidea of a digital detox day sounds astruggle, it will be at first, I'm notgoing to lie you're going to be anxious. But what does that mean? If you fillthat anxiety, it means that we've grown addicted toour devices. Your foam, your tablet, so there's onething that you can commit to take action on right now. It would be to schedule a me day, adigital detox day and step away from work and technology for twenty fourhours. Your brain will. Thank you. Your team will thank you, and it issomething that you can commit to do to work together, not only by yourself butas a team. That is really the only way you're going to be successful. Byapplying this thinking, because this is not just transforming yourself, it'stransforming your team. It's transforming your organizations thatyou can support each other 'cause, your Madays, your digital detox days canbecome a competitive advantage, intoday's world of ever growing digitaldistraction. So in summary, there are three future growth pitfallsthat threatened to hold us all back and even keep us stuck in the past,...

...which are the four fears, drowning and overwhelm and digital distraction. What I want to do now is look ahead.Look towards the future to create a path, a path that can light the way for youto leave the Cave of complacency, to move Oward, to move upward and to do sowith courage and confidence to transform yourself transform your team transform yourorganization and to do this, I want to give you a forestep plan that you canapply to either a help yourself get unstuck if you feel trapped and arestruggling to transform your own thinking or b helps someone. You know at yourfinancial brand break free from the past to move forward towards the future,with courage and confidence, any type of transformation, whetherthat be personal, whether that be professional, whether that be your team,whether that be organizational or cultural, I've already touched on thisalready. Any type of transformation must beginwith thinking. It must begin with he transformation of thinking of strategy,not of doing because the doing the implementation,if you will, must always be informed by the thinkingby the strategy, but how many of us, when faced with the new challenge or anew opportunity we just dive in we just start doing. We start working, we startimplementing, but without any clarity without a well thought plan without astrategy. Now I know that I've been here in thepast and- and I even have to keep some awareness about this to this day, butbut too many times, accounting both my...

...personal and my professional life whenI've just jumped in and I started doing, the results were never pretty. I losttime, I lost money, relationships were damaged, and so thequestion to ask is why why do we do this? Why do we get stuckdoing? There are a lot of reasons, but the three that I want to focus onright now is that we're already busy we're already overwhelmed it's what I dressed before it's hard tohit the paws button to create that space in time to think, and that leads us to the second point, because we're overwhelmed because we'redistracted we're not thinking clearly because we think of the cost we thinkwrongly, of the costs associated with taking the time to think through a planbecause there's a lot that has to happen when we're thinking aboutdigital when we're thinking about technology, it's a completely different way ofoperating and because it's a completely different way of operatings, completelyifrt way of thinking, and therefore we must assess. We must diagnose, we mustobserve we must distil, and that leads me to point number three. There is acost to not stopping. There is a cost when you continued todo something without clarity, without focus that cost of not stopping andcontinuing to do is far greater in the long run, then it is to take the timenow to pause, to stop, to reflect, to learn and think about what we should bedoing next, so that whatever it is, whatever we might be working on, we cando it even better.

So what does it take to truly transformour thinking, which will ultimately result in thetransformation of our doing of establishing new neural connections,new cognitive patterns, new behaviors, new habits, all of which will create a far greater value for us,for our teams for our financial brand for the people in the communities thatwere serving in this postcovet world? To transform our thinking first andforemost requires us to gather new insights and perspectives, which comesthrough continuous learning that is rooted, an ongoing perpetual training.Now this training in turn will empower our teams to peer into the future, tosee new opportunities and to overcome the fears of the unknown that or onceagain, more often than not rooted in false evidence appearing real tsimplified. There are four steps thatyou can commit to take on this path: the Transform, your Financial BrandsMarketing and sells teams your leadership teams, your organization and these four steps are number one: stop getting trapped and stuck doingthe work, doing the marketing doing the cells so that you can create space andtime to review, to learn and to think review where you've beengain, insights and learn from what you have done. Think about those insights and how canyou can apply them going forward so that you can do whatever it is you'redoing even better? Otherwise, you will stay stuck doing digital. You willremain trapped into what I write in my book, banking on digital growth. Youwill remain trapped in the circle of...

...chaos, feeling confused frustrated andoverwhelmed. The second step you can take want you stop doing, and you create the space intime to review, to learn to think is to gain clarity into the futures,greatest growth opportunities ahead, and by doing so, you will overcome tbeunknown and the way you will do this is through a commitment. Ongoing trainingisn't an ironic how training is one of the very first things to get cut whenbudgets get tight, but training in this digital world.Ongoing Training, perpetual training, is what illuminates and lights the pathFord for us to continue down our own journeys. The third step that you can take onceyou gain clarity, is to build your courage and commitmentwith strategy and HA strategy will be informed by theinsights that you gain through training and it's the strategy that provides thepath Ford for you to overcome the fear of change and the fear of failure.Think of strategy like a blueprint or a roadmap that helps you avoid thepitfalls that will sow you down or the dangers that threaten to deral you and finally, the fourth step is that you will increase yourconfidence as you apply the strategy following the roadmap, as you gain newcapabilities and collaborate with others by eliminating a competitivemindset and whoen, you eliminate thiscompetitive mindset. You focus on collaboration, you focuson building capabilities, your confidence will increase, and thatempowers you to destroy the fear of success. As you measure progress, notperfection, because when you measure...

...progress, progress is what propels youFord further faster along your journey, as opposed to looking ahead towardswhat I call the demoralizing digital mountain that you have to climb measure where you've been where you'vecome from. Don't look ahead at what you have to do next, these four steps leadme to my thesis: The transformation of any kind Beidigital marketing cells, technology organization, personal transformation of any kind will alwaysstart with training and education to help thee unaware become aware offuture growth opportunities. Training will eliminate the fear of the unknowntraining will allow you to gain clarity into a future that has yet to bewritten, and with that clarity, you can commit to create the future with courage and confidence. This is whyas. We wrap things up. Ichallenge you to commit to make training ongoing training, perpetualtraining, lifelong training in this age of Ai, the center of your personal,your teems, your organization's growth plans, because its warn buffet once noted themore you learn, the more you earn and all learning begins by asking goodquestions. That's why? If you have a question likeCyntia, I want to hear from you, because I wantto know how I can help you answer that question move you forrd guide, you Ford on afuture potthas episode,...

...someone'so get n hop on over to www DTgoask, jr, dotcom. Ask Your question and remember this: There are no badquestions, because the only bad question is the question that goesunasked until 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 apple podcast,Google, podcast or spotify, and subscribe, while you're there to geteven more practical, improvent insights. Is it www don digital growth dcom tograb a preview of James Robert's, best selling book banking on digital growth,or order a copy right now for you, and your team from Amazon inside you'llfind a strategic marketing, an sales blueprint framed around twelve keyareas of focus that empower you to confidently generate ten times moreloans and deposits until next time be well and do good.

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