Banking on Digital Growth
Banking on Digital Growth

Episode · 11 months ago

68) #ExponentialInsights: The 5 P’s of Digital Growth & Transformation feat. Jeffrey Ward


Digital transformation is thrown around a lot.

Many say they’re aiming to transform, but few do — why is that?

Usually, it’s because they are missing a key ingredient…

And that’s almost always one of the 5 P’s of digital growth and transformation.

Jeffrey Ward, Enterprise Executive at TurnKey Lender, knows all about the 5 P’s from his LinkedIn Live video series, 15 Minutes, where he has interviewed dozens of leading minds in financial brand marketing, sales and Fintech.

In this episode, we discuss:

  • The power of personal branding

  • How branding meshes with content-based networking

  • The 5 P’s of digital growth and transformation

You can find this interview, and many more, by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.'s Mawr important than ever as afinancial institution, as a traditional institution or non traditionalinstitution toe have purpose around how you treat your customers because we allknow it takes a certain amount of energy to get a client. It takes evenless energy to keep a client, which got to be purposeful about how you spendthat energy you're listening to. Banking on DigitalGrowth with James Robert Lay, a podcast that empowers financial brand marketing,sales and leadership teams to maximize their digital growth potential bygenerating 10 times more loans and deposits. Today's episode is part ofthe exponential insight Siri's, where James Robert interviews the industry'stop marketing sales, and Fintech leaders sharing practical wisdom toeexponentially elevate you and your team. Let's get into the show Greetings andhello, I am James Robert Ley and welcome to the 68th episode of theBanking on Digital Growth podcast. Today's episode is part of theexponential insight, Siri's and I'm excited to welcome Geoffrey Ward to theshow, and Jeffrey is an enterprise executive, a turnkey Linder and a hostof turnkey lenders linked in live video. Siri's titled 15 Minutes, where he hasthese great 15 minute conversations with so many different, interesting andinsightful people. He's interviewed dozens and dozens of financial brandmarketing cells and leadership team members, Fintech leadership teammembers over the past few months and looking forward. Toa learning a littlebit from those conversations today. Welcome to the show, Jeffrey. Thank youvery much, James Robert Ley. It's an honor and a privilege to be here tostart off. You know, I want to focus on what inspired you to launch this videointerview Siri's because I'm grateful that you did. I really have learned somuch from the good questions that you've been asking others. Well, Igreatly appreciate that you know what was inspirational in doing. So was thatabout a year ago at this time we were having a Q B R meeting with ourmarketing team quarterly business Review, and I wanted to present myselfas a thought leader in the Fintech space, and I did so because we throwaround these words digital transformation and they are momentous,right? What does that mean? How does that impact an organization? And Iwanted to present myself from a thought leadership perspective, being able tobetter to find what digital transformation could mean for myprospects for my clients, for turnkey lender, I wanna actually go down thatpath for a moment. This is more of just a personal aside for you and really,how does this play into turnkey Lindor strategy? Because one of thepredictions that I made this year, my my Top 12 insights or Top 12Opportunities for Growth is the idea of empowering the team member empoweringthe employees because I'm predicting going forward, the employee brand hasthe potential to be even far greater than that of, say, the corporate brand.And that could make a lot of people feel uncomfortable. Had a really goodconversation about this with Carrie Ann Benton Stimpson, who's the chiefmarketing officer at the Jamon B group down in Jamaica. She's working with herteam as the CMO to empower their cells team toe to really build these personalbrand. Should they even had a day to where they were highlighting the sidehustles the side businesses of some of their team members with the communitiesthat they're serving. So how is this idea of personal brand your yourperspective, thought leadership playing into You know how. How do you reconcilein this? Because it can make some people feel uncomfortable. Yeah, that'sa great question. You know, what I've...

...enjoyed about developing my personalbrand is it's just given me the ability to broaden my network. You know, acrossthe country, right? I think it's given me the ability to broaden my network. Ithink it's given me the ability to broaden my understanding of theimportance of Fintech. It's given me the ability to expand my understandingoff how technology is transforming banking and transforming lending. Andit's kind of fun to be the face of turnkey lender on linked in life and onlinked in Yeah, and so if if I'm in your position. But I work out afinancial brand and you know, I see some of those opportunities, but somethings holding me back, maybe I'm a little scared to put myself out there.And there's so many others who are doing great work like this. Like, youknow, I think of Alec Hanson over at Lone Depot and and and so many othergood people. How can I overcome some of those fears that are probably just, youknow, it's the false evidence appearing riel that I'm holding myself back. What?What advice could you give to me? Thio out there? You know, that's funny. Um,that's a great question. I had the experience to interview Jill Castillo,who is CEO of Edmund's Bank or Citizens. Great Yokohoma. And it brought me backto like, the first time I played football, starting on the varsityfootball team, right? I had huge butterflies. I knew exactly what I wasgoing to talk to her about. I'd already sent her the questions. But, you know,I was like, What? I have this deer in the headline headlights moment and Iwas able to power through it. So my advice would be is, yes, it's gonna bekind of scary. Scary. Yes, you're going to be nervous, but it's an experienceyou gotta have because it's it's an adrenaline Rushmore than anything. Yeah,and and and I'm thinking of two conversations that I've had. Episodenumber 46 with James Carberry, who I mentioned to you before we we, we wehit record. He wrote the book content based networking, which I'm seeing sucha tremendous opportunity as a financial brand lender or or even someone whomight be a branch manager, because this idea of connecting with people in thedigital world to build relationships in the digital world, I think you said itbest before we hit record was you could literally go across the country now andnot have to worry about where you're going to say, because of the goodconnections and relationships that you're building just from theseconversations that you're having on the on the flip side of the spectrum had aconversation with Jay Paultre episode number 50 51 where he was discussingthat more of the practicality of this. You know, I could take, you know, 345hours and go play a round of golf with three other people. Or I could take toyour point those 15 minutes and make an impact of hundreds, if not thousands ofother people through this lens of digital context. So kudos to you forleading in this direction. I appreciate that. You know the other thing that hascome out of this and no, really, what I want my clients to get in myconnections to get is that it It's for me. It's about the ability to serveright. And, you know, I think every single person that's been on my showhas been passionate. I think that they all have purpose. They all have passion.They all have intention. And I'm hopeful that the audience, theparticipants may have a question may have a thought. May have a need thatthat somehow I'm able to serve that in in the opportunity to present thesepeople to our audience. And so I think it's really, really important for me.You know, I love sales. I love closing business. I love the excitement, thethrill of the kill. But it's really about the opportunity to serve morethan anything that right there, you...

...know, just if people followed you andjust they watched, they listened. They could learn so much just on thisjourney that you're you've taken yourself, but it does come back to this.It's a bigger purpose, and we'll come back to this idea of purpose here in amoment. But it is about servant leadership. It's about putting otherpeople before yourself and and thinking about all that you've learned throughthese 15 minute conversations that you've had you shared five points. Fivepatterns of from these discussions and these points and patterns, I believe,can inspire the dear listener to continue to move forward, to makeprogress along their own digital growth journey. And and I want to frame thesethese points, these lessons, these insights into what we'll just call fortoday's conversation. The five piece, uh, and and and the first observationthat you shared with me and you mentioned this before. It's passion andthat passion will run from the CEO all the way down to the solution. Engineer.Why is passion important for this idea of digital growth? Digitaltransformation? And how does passion really drive the customer experienceand future success? Great question. You know, I think passions. What gets usout of bed in the morning? Passions. What makes me stand up and potentiallycompare myself to somebody else and how I'm going to do it better, right? I'vebeen in college and I've been in seminars, and I've been experienceswhere I've sat at the see table with individuals, and you could think abouthow do I separate myself from the CEO? How do I separate myself from the CFO.How do I separate myself from another sales executive? And the on leewayAiken do? That is through my passion and that passion can touch everythingthat I could do. It could touch my skill set. It could touch my education.It can touch my communication. It could touch my approach. And so I thinkpassion is a is a very important key to success for any type of role that youdio and hearing you talk through that this idea of of passion and how todeliver passion through the context of digital. There's no better way to dothat than through the work that you're doing with these 15 minuteconversations, because you're getting to see not only your passion but thepassion of the person that you're having this conversation with. Come out,you can see it. It could be the podcast. You can hear it, and it's It's hard toconvey that passion a lot of times through writing alone, but writing canthen inform those conversations. So I made 100% agreement about this, thisidea of passion, which is really closely connected with the second Pthat you shared with me which is purpose. So what role does purpose playin regards to digital growth? And why do you believe that purpose is now moreimportant than ever before to have meaningful connections within thebanking vertical? Another great question. So purpose, You know, yougotta have intention. You gotta have purpose. You gotta have a reason to beat the table. You gotta have a value proposition. And I think understandingmy network and and understanding the value that they bring to the world todigital transformation is their purpose. What I get the opportunity to do ispeel back the layers of the onion and show that purpose, right? And I thinkit's mawr important than ever, as a financial institution, as a traditionalinstitution or non traditional institution toe have purpose around howyou treat your customers because we all know it takes a certain amount ofenergy to get a client. It takes even less energy to keep a client which yougotta be purposeful about how you spend that energy. You know, you talk aboutpurpose and you talk about spending... I can't help but think aboutyou know, the writings of Napoleon Hill. You know, think and grow rich and andpurpose is always at the center of his writing and his thinking Purpose is atthe center of our digital growth blueprint and purpose really does helpto create that intent and elevate the thinking within a financial brand.Whether it's on the marketing sales leadership side to elevate the thinkingbeyond the promotion of commoditized products, dollars and cents to reallyputting the focus, coming back to what you're sharing before framing thataround people, their pain points their problems and then offeringprescriptions and solutions to those problems. Which brings us to the thirdpoint of performance and performance. One of the things that we're hearingover and over and over again and we're living it. It's changed and it's soeasy when we think about change, to get wrapped up in all of the small things.What is the best way to bring performance and the idea of performanceup to a higher level to focus on the goal, the cause, the purpose and reallystaying focused on expectations? Great question. You know, I think myselfpersonally, that performance is is extremely important, and I think thatperformance is something that I have to get out of bed with an intention toe toprovide peak performance each day. Right. I think performance is easierwhen I know my goal when I know where I need to focus. And I know I know myexpectations. I think purpose and performance is easier with leadership,right? If you have great leadership within the organization, they'retelling you these air, my expectations thes air how we're going to perform andthis is what we're gonna do. And you know clearly what would get you outsidethe guardrail, right? So I think performance is key in, You know, if ifI was a lender how Maney loans, I'm gonna dio Performance is critical inand my enterprise role in the number that I have to hit on an annual basisperformance is critical in how I approach my clients in their evaluation.I have to be professional. I have to be prepared. I have to know and perform ina manner that adds value to the organization because we all have morecompetition than we've ever had before. Technology has transformed our world,and digital has changed the way consumers shop 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 andsales leader. But it doesn't have thio because James Robert wrote the bookthat guides you every step of the way along your digital growth journey.Visit www dot digital growth dot com to get a preview of his best selling book,Banking 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 practical andproven insights you can start using today to confidently generate 10 timesmore loans and deposits. Now back to the show on When you're talking aboutperformance, I can't help but think about clarity and clarity into what,what are the expectations specifically? And I think here about digitaltransformation and the introduction of new technology, new systems, newprocesses and how many times they just get thrown into the lap, for example ofof lenders. And there's no clear expectation of number one. What are wetrying to achieve with this new technology? But But really, the biggerone is. What's the purpose? What's the...

...bigger goal? That this the problem thatthis new technology is going to solve not only internally but externally. Andwhen there's a lack of clarity that leads to confusion that leads toconflict that leads to chaos? And that zbig reason why? I think, you know,upwards of 80% of digital transformation projects fail. It's notbecause the technology technology care less technology is just a tool. Digitaltransformation fails because you we have failed to address the needs of thepeople, are set the proper expectations, and therefore the people lack theclarity that they need to perform any thoughts from you on on. Just, you know,seeing talking through hearing of digital transformation failures andwhat could be done to overcome some of those failures. Yes, 100%. So, you know,I think in my role at turnkey lender outside of being able to do these 15minute podcast is taking a client and and these could be enterprise clientsthrough an evaluation and really on the successful projects that I've seen fromthe top of the House down from the CEO down, there has been a strategicdecision made to execute a strategy that will deploy a digitaltransformation. And in that perspective, when I have those type of clientspresent themselves to me, the sales process is very, very easy, right.There's a qualification step. There's a discovery step. There's a summary offinding step. There's a demonstration step and then you know by that by thattime frame, they should have made the emotional decision to buy as a seller,right. The technology to your point, it doesn't care. But as a seller, what Ithink is very, very important is that when you can challenge your client tothe reason why are you buying this? What are you going to get out of this?Who is going to be impacted? How are they going to be impacted and what willyou ultimately measure R. A y against? I think when you can ask those type ofquestions very quickly, you understand an organization that knows exactlywhere it wants to go. If you ask those questions and you get kind of a deer inthe headlights reaction. They're not ready yet, and I've loved commissionchecks. They're big, and Aiken spend them on my family, and I've got, ah,long list of things that I could spend them on. But a lot of times, if theycan't answer those questions and you get into implementation, they get lost.The project managers really good about defining expectations, getting thatsort of stuff, lining it up, defining the functionary requirements, documentyou name it. And then once the development starts, the client sees itand they think, Well, oh, I should have this or oh, I should have that. And thewheels come off the project. So really knowing why you're doing what you'redoing and how you're doing is critical for project success. So this comes backto a model that I've been doing some recent teaching around. If we'rewanting to maximize digital growth or achieve digital transformation, itrequires us to act. And that is where we have awareness. Plus, courage willultimately lead to transformation. If you're lacking the awareness but havethe courage, you won't move forward. If you have the courage but lack theawareness. You'll probably move forward, but most likely in the wrong direction.And could it potentially end up back where you start to begin with in thefirst place? So there's a very specific, almost a step by step process needed ofwhat we'll just call it clarity. First courage, second commitment, third soforth and so on. And when you think...

...about this, this idea and and theconversations that you're having and really seeing and experiencing andguiding others through, you've seen you know a lot of different organizationsover the years. How can financial brand leadersovercome their past, where I feel many are stuck to deal with the changes thatare happening in the present moment and really eliminate the fears that mightbe holding them back from the future that they have yet to create? You know, I would answer, You gottafail fast. I would say You've got to fail as's fastest possible, and what Imean by that right is that growth is not an easy process, right? You stubyour toe, you have growing pains. My kids come to me on a regular base andsay, Oh, my hip hurts. Oh, my knee hurts. If I gave aspirin out for everysingle time they came to me, I would be broke. But you know what is importantin that perspective is if I'm going to change my organization, I need to makea decision. I need to be confident in my decision, and I need to say, This ishow we're going to this kind of how we're going to perform against thatdecision and if you know, gosh forbid we make a mistake. If we breaksomething, let's look at how it broke. Let's look at why it broke. And let'suse that. Let's learn from that to continue forward, right? We're notgonna make you can't make a cake. You can't make an omelet without breakingan egg, right? You've got to go out there. You've got to experience and yougot to do it boldly. Yeah, and I was just having this conversation inEpisode 67 with Chris Skinner and and we were talking about where some of themost massive changes that we have experienced either a personally or beprofessionally. They've always have come in the uncomfortable moments, thepainful moments of of growth, for that matter. And I love the analogy of yourkids, you know? You know, if you gave him an aspirin every time they werehurting, you'd be broken. For me, it's it's band aids. My kids are alwayscoming and saying, Dad, can I have a Band Aid? I'm like It's not evenbleeding, but but But you're right. Growth comes through pain change ispainful. And that's where you know I want to focus on the fourth p here,which you shared is patience. And patience. For me has been a bigpersonal lesson coming out of co vid, Um and really patients is critical forgrowth. It's it's never fun. It's It's never easy. It it does require change.Change is painful, but it also requires humility. How can we all gain a bitmore patients in a world that seems to demand anything but patients, for thatmatter? Wow. You know, I don't know if I have enough time to answer thatquestion right now. E. I appreciate that. You know, hard for me to answerthat question. What I would say is, I got to speak from the heart. Um, youknow patients for me is you know, I have my intentions. I have my goals. Ihave my desires each and every day that I get out of bed and I have to bepatient sometimes because I've got a demonstration coming tomorrow. It's thebiggest deal I've done this year, and I've got to execute it. This level I'mnot taken into the fact that my brother, who is the solution engineer, has justhad a kid, has a brand new baby boy that's not even six months old andprobably last night is cleaning up baby poop until three o'clock in the morning.And I'm sorry if that's not supposed to be on your show. But I think patients,patients, that's real life right there with four kids. I've cleaned up plenty,plenty of baby poop at three and four in the morning. Yeah, I mean, patientsis is, you know, taking a moment to to appreciate, you know, our fellowbrothers and sisters. We're all trying to do this. We're all going in the samedirection, and we may not all kind of...

...share or have the same tolerance forthe direction that we're going. If you can have a little bit of patience. Itjust seems to make things ah lot easier for us all. I think that's a great agreat just. We'll call it a definition of patients from your perspective. Andif I was to synthesize that a little bit, and I could apply that to what Icall the four digital growth operating environments you could you could belearning. You can be thinking you can be doing or you can be reviewing andgrowth requires all four. But it is so easy to get stuck doing digital,whatever that might be from a marketing side of sell side of leadership side.And if I was toe distilled this down. Patience to your point is taking amoment to stop the break free from the doing, to pause, to reflect to reviewwhere we've been, what's worked well, what could be made even better. And toreally be grateful for the progress that we've made on our own personaljourneys of growth on our organizational journeys of growth,which that brings us to the fifth people around this out. This ispersistence, and I like what you noted here, you know, coming from the greatPixar film Finding Nemo with Dori. Persistence is Dori, you know, sharedover and over and over again to Nemo's father. Just keep swimming, just keepswimming, you know, in we'll call it in the sea of of co vid post co vid chaosthat we're all still swimming through. What is the best way for marketingcells and leadership teams to do just that to just keep swimming, to bepersistent, to run the good race? Because digital growth is a dirtjourney. Digital growth is a marathon, and it is something that does requirepersistence. How can we apply that thinking? You know, I think I think persistence is continuousmessage, continuous content, continuous outreach and continuous support of yourclients. Right? They may not all need me today. They may not all need metomorrow, but sooner or later they're going to need me. And if I am notpersistent, I may miss an opportunity, right? And that could be from thelargest financial institutions in the world, all the way down to the smalleststartups. You gotta be persistent, right? You've got to get up every day.You gotta put your messaging out there you gotta put your content out there.You gotta put your passion out there. And sooner or later they're gonna beready for you. Just gotta be gotta be patient and persistent for that moment,so I can't help but think here. You know, a lot of financial brands willthrow up excuses to digital growth of transformation, whether it beregulatory assets size. We don't have the capital, but I'm I hearing you talkthrough this. I guarantee every single person has the cash that they need tomaximize their their own personal growth potential number one, theirteams potential number two and their in their organizations. Digital growthpotential number three and cash is this. It is knowledge. It is attitude. It issystems. And to this point, right here, persistence. It is habits. And what ourhabits habits come from your thoughts which inform your actions and yourrepeatable actions then become the habits and habits create thepredictable future. So if we're wanting to transform our organizations, wemight have to come back and have some conversations about the habits that wehave today. Are they the right habits that that we need to get us to wherewe're going tomorrow and speaking about tomorrow. What is one thing? If youcould just make one recommendation to... cells? Leadership teams Onecommitment that you could recommend. One habit, if you will, that they couldcommit to to move forward with courage and confidence on their digital growthjourney. What would that habit or that commitment be? Oh, that wouldcommitment would be. Make a much noise, as you possibly can with wrench contenteach and every day possible content that helps content that guidescontent that inspires Jeffery. This has been such a great conversation, and I'mgrateful for the knowledge and the insight that you've shared just throughthe conversations that you've had through the discussions on your own.Linked in live. If anyone is listening, they have questions they'd like toconnect with. You continue the conversation. What is the best way forthem to reach out and say hello to you? You can reach me on Lincoln. You canreach me. I think my cell numbers on my LinkedIn profile as well. If not, it's5125866564 Feel free to text me. I'm happy to be a resource anytime. Jeffrey,thank you so much for for the knowledge. Thank you for the insights and thankyou for joining me on another episode of banking on digital growth. Thank you,James. It's an honor and a privilege to be here. My brother, as always, anduntil next time be well, do good and wash your hands. Thank you forlistening to another episode of banking on Digital Growth with James Robert Ley.Like what you hear. Tell a friend about the podcast and leave us a review onApple podcasts, Google Podcast or Spotify and subscribe while you'rethere. To get even more practical in proven insights, visit www dot digitalgrowth dot com to grab a preview of James Roberts bestselling book Bankingon Digital Growth or order a copy right now for you and your team from Amazon.Inside, you'll find a strategic marketing and sales blueprint framedaround 12 key areas of focus that empower you to confidently generate 10times more loans and deposits until next time, be well and do good.

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